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that is one thing you might want to know. the other thing i was talking about, and this concerns hong kong, have a look at the hong kong dollar. it does seem that is a big spike up. don t forget, two things. it is a pet fed currency. we export monetary policy from the fed. from them hong kong monetary lookrity earlier, when you at these rate differentials, expect this to start moving towards the weaker part of the trading range. if i take this back to 2004, you will know what i am talking about. unless the fed continues to normalize, expect the slide to move closer to 785. into how all of the central bank action we have seen, i am joined out of gapore by mike cudmore mark cudmore. so far, a fairly eventful day, given the fact that we were expecting the fed to do it anyway. what stood out to you? dovish fed,e seen a a dovish reaction. some people in the market were betting that with so little priced, it is expectation that there will be a rate hike yesterday, three hi ....
economic data. we have the chinese industrial province. this dovetails into what is happening with the story in the morning and what it will mean, phenomenal gdp. matching statistics, they are profitg in november and growth is expected to edge down to 25% year on year in october from 27.7% in september and we have continued to eke slightly in november but let s see where we come from. we were seeing profits under some pressure. at the moment, it is that at the moment. growth in the pipeline. some more movement. , as those numbers are out look at what is going on elsewhere. we have markets back online today following the christmas break and taking a look at what is going on with shares in singapore. recovering from tuesday s drop. ,hey are resuming gains marginally higher this wednesday and following the text want. that is in focus and snapping a .1% of thep gaining open. let s check in on the supplier in taipei. in that stock under pressure and falling for a second da ....
fastest car ever made, hurtling in space. keeping the government chugging as oneas deal described nobody loves. it seems like life has changed and rather than talk about no volatility or low volatility in markets, the only thing both are talking about now is to get used to volatility. andtility is here to stay, i want to show you a chart that reminded me of the great ernie s peng lei ernest hemingway quote. this chart shows you that ed acency that is br the short-term fix, the several to blame of the rapid selling in the session. you can see complacency all the way up until the very and, and then these devastating losses. many warn us about these induced leverage etn s, however, nobody thought would go to zero, as a got to zero yet but they are headed straight there. it lays the question or puts into question where it goes from here. of aard from the likes credit analyst who warned about the shortfall trades prior to the selloff. is now ang me it opportunity to ....
cable down 1/10 of 1%. they ll the u.s. dollar. gold, a little bit higher and the vicks still stable. what it wants a meaning for equities, we will tackle that. david: a big day not just because alix is back. itsbank of england with latest monetary policy decision. we will get u.s. weekly jobless claims. at 9:00, republicans promise they will give the details of their tax reform bill. 3:00 this afternoon, president trump will announce his pick for the next fed chairman. jonathan: president trump is jerome be tapping powell. here s what guests worldwide have been saying about the man who could be the next chairman of the federal reserve. experience is in private equity as a salesperson rather than investing. i m not sure what he knows about the inner workings of financial system. i don t agree with bill gross comments this guy not being an economist is a hindrance to his ability to do the job. powell has the equivalent of more than one phd in monetary policy given ....
scheduled to meet with russian president vladimir putin and other world leaders didn t that in the next hour. abigail doolittle is here with the latest trading action. very small moves in the dow and s&p and makes trading action from the dow and s&p 500, perhaps investors on hold in waking the results of the fed meeting. the tech heavy nasdaq up four tents of 1% and on pace for its best day since last wednesday after quite a bit of selling action. we look at what is happening sector wise for the s&p 500. function, tech is the clear winner, of 9/10 of 1% and more red than green. on bottom, energy down about 1.7%. what is helping tech from a performance standpoint, perhaps the most, looking at the chip sector and the philadelphia semiconductor index up nearly 1.5%. macron trading higher. nothing fundamentally new. we are seeing a bit of a rebound rally after last week s almost 5% pullback. when we look at a chart in the bloomberg, something happening technically, this i ....