Worn surging numbers may undermine a Global Recovery. Plus, we discussed prospects for the u. S. And the wider picture with the atlanta fed president , who joins us this hour. Haidi lets look at the sydney staggered open, the friday session muted compared to the street we have had in asian stocks, asiapacific stocks seeing 13 consecutive days of gains broken by the thursday session, the longest winning streak since 1988 coming to an end. A flat stock a flat start in sydney, kiwi stocks up, muted start in japan spite heavy inflows of foreign buying. We are seeing a further downside when it comes to trading in the futures session. Getting secretary mnuchin speaking at the moment. He is speaking in an interview with Bloomberg News, saying financial conditions are quite strong, that companies that are need grants,covid not that. We heard secretary mnuchin earlier asking the fed to return unused coronavirus money. We will get you more as we get those comments. This is coming at a time when
Beat for alphabet. Spoke to the alphabet c. E. O. About the results. Ill give you the takeaways from that conversation coming up. Facebook beats the social s the covid her storm. 2021 might not do so well. Big word uncertainty. Earningsnating the calendar and on our show we also saw the results from amazon and twitter. Clobbered inng after hours trading. Well cover it all over the next hour. Abigail doolittle is watching the market moves from new york. Abigail, lots of different stories at play. Seeing . You incredible. Most anticipated day of earnings for any quarterback, at least we have some of the answers. Lets start out with the breakdown because were a tale of two stories. Relative to first apple and amazon. Well see declines. On the surface, they did beat adjusted earnings putting up 73 cents per beat by 4. 7 . They put up nearly 65 illion in overall revenue beating by almost 2 , but beneath the surface as you iphone tioning the sales disappointing, down 21 , and china sales wer
3 . 5. 6 , but improvement from the previous ask. Haslinda it does look like china continues to Gain Momentum in terms of recovery. Lets look at where we are in terms of market reaction. Just. 1 . Underperformed after its biggest rally in more than 5. 5 years. Up. 2 . Pretty muted. Belowe been dragging this 6. 8, a strengthening that we saw onshore and offshore. Jp morgan is seeing gains. The 10 year yields. Take a look. Study right now. 313 after that fresh quiddity injection. Yvonne lets break down these numbers with the head of macro resource. Chinasensus about economic recovery and renminbi since april. What is your take on these numbers . I think the number basically confirms that the Economic Activities are normalizing, especially on the consumption front. We see from highfrequency data that retail sales, etc. That were hit during covid19 are slowly coming back. Upside for september data. Also, from the production side, recovery from earlier in the year. There are three things Go
With the election less than two years away. Welcome to bloomberg surveillance. I am manus cranny in dubai. The Global Equity rally rolls on. The inexorable roller. We have some breaking data from the euro area. Pmi at 50. 5. The market had preliminary suggested a number of 50. 1. We saw the german numbers on Services Come in at 52. 5 from 50. 8. This roll up in the equity rally is marching on. One hundred billion euros for the recovery in europe. 1. Have a new date, november the politicization of the vaccine has never been more. That trumps any china rhetoric of building up their tech and chip ability. They are going to use the power of the atomic bomb, as they said, to get there. 10 year yields,. 66, back at the level that they were when jay powell spoke. The glaly re when jay powell spoke. The global rally rallies on. There is this reluctance by the bond market to reprice with the exuberance of stocks. Is it about the dollar or the euro . The euro has been dropping for three days. It
Rates on hold at one quarter of 1 . The rbnz saying they are going to be they are committed to reviewing their quantitative easing program. The policy committee reached consensus on this decision. They are saying they are prepared to provide additional stimulus as is necessary. All the economists we talked to the benchmark Interest Rate in new zealand staying on one quarter of 1 . Little to no reaction on the new zealand daughter new Zealand Dollar. 64 u. S. Cents. Tom lets get some of the views from our guests at the bloomberg summit. Sharing their views on the prospects of a recovery from the pandemic. I do not think anybody can be confident with the kind of uncertainties that prevail. I would put say is my odds on a v shaped recovery. How we are going to share the burden in a credible way. It is not just financial and fiscal support. It is also regulatory charges we have undertaken to support the economy. As recently as early april, i saw china could only i thought china could only