Live from new york, at the opening bell, this is business today. Traders tread water on wednesday. Cranking up the voltage on trade tensions. Canada slaps hefty import taxes on electric cars made in china older, wiser, and ready to spend. How businesses are finding a Silver Lining in indias ageing population. Welcome to business today, im Michelle Fleury live from new york. Us markets slip at the open after the record close. More on that any moment. Lets turn our attention to markets, the dow is down two tenths of a percent right now, after the wreck a close yesterday. The snp and nasdaq have not fared so well. Traders are turning away from the Technology Stocks right now. For more on this is the chief market strategist, great to see it this morning. Are you surprised this rally is stalling . What should we read from the dow slipping back slightly . Read from the dow slipping back sliuhtl . ,. , slightly . Good morning, i dont think they slightly . Good morning, i dont think they can
already said that any kind of relations with taiwan must end. but this is very much not only about the economics, but it also has to do with the geopolitics. a sign that the us is taking the threat of a potential. potentially china coming into taiwan, as a real threat. and so a lot of people are taking lessons from what they are seen happening in ukraine and starting to make some strengthening within their own borders. absolutely. and while you are with us, let s talk about that the debt ceiling deal. passing a very big hurdle last night, but still a lot of work to do if they are to meet that deadline injune the 6th? absolutely. they re going to have. now that it s passed one chamber of congress, it now has to pass the senate. andy thinking has been that they would be able to get it into they would be able to get it into the senate, but now we re hearing from a lot of senators are saying they are going to try. it s not going to be an easy ride, it s going to be a lot of pushb
semiconductors and it falls to us companies. it is important for the us to get to trade with taiwan so nvidia which is at the forefront of this frenzy, basically 40% of this is produced so. we this frenzy, basically 4096 of this is produced so. . . this frenzy, basically 4096 of this is produced so. we also know that the us is trying is produced so. we also know that the us is trying to is produced so. we also know that the us is trying to reduce is produced so. we also know that the us is trying to reduce its - the us is trying to reduce its dependence on china and so taiwan a worthy alternative. although, not able to pick up some of the slack because china is, of course, the powerhouse economy. the workshop of the world. ~ ,,., , powerhouse economy. the workshop of the world. ~ , ,., , . powerhouse economy. the workshop of the world. ~ ,,., , ., , powerhouse economy. the workshop of the world. ~ , ., , ., the world. absolutely. china is an extremely important the w
let s get down to business. hsbc has just reported a 92% surge in quarterly profit. rising interest rates helped to swell its net interest income. europe s largest bank that s headquartered in london said pre tax earnings ringed in at $5.2 billion for the fourth quarter that s better than expected and up from $2.7 billion the year before. but it s biggest shareholder, ping an insurance of china, is putting pressure on the board to pivot further east. that s one of the challenges facing hsbc. let s discuss this with will walker arnott, senior investment manager, charles stanley good morning. talk about numbers. shareholders will benefit. hsbc did well in the last quarter- benefit. hsbc did well in the last quarter. yes, benefit. hsbc did well in the last quarter. yes, strong - last quarter. yes, strong results which would have pleased the market and beat expectations, as outlined. gather up 30% over last year, and the results explain why. what strip on the results, first