Continued to remain subdued. The beige book gave us perhaps a hint of one explanation for why that is. In cases where there is Wage Inflation or higher input costs, the firms say, and materials, a law firms are still reluctant to pass that on. It is a very interesting line from beige book. Several districts noted increased manufacturing input costs, but in most cases, these werent passed through to selling prices. That underscores a theme weve seen for some time now, where companies in the u. S. Simply lack the Pricing Power they used to have. When their costs are going up, they are very reluctant to pass them on to customers. A couple last notes about impact from the storms we saw a earlier. Dedicating part of the u. S. , some good news in bounceback. Whatallas fed reporting they called notable strength in ,anufacturing, hiring numbers and indeed, some of the bounceback is showing up in districts as far field as the chicago district, which reported increased demand for construction ma
Jonathan it was better with cable down and the euro at 1. 17. Alix talking about cable, take a look at the gilt market. In the gilt market you are seeing yields up about four basis points. After thetively flat data out of the u. K. Unemployment and wages. Dollarmex down slightly. Aluminum missed, down 1 . David it is time for your morning brief. We will start out here in from two fed president s, bill dudley and Robert Kaplan in a discussion. U. S. Nutes later we get Housing Starts and Building Permits for september, and the Senate Finance committee will meet with President Trump. Jonathan chinas president xi jinping laid out a roadmap to turn the country into a leading country by 2050. He warns there may still be a bumpy road ahead to success. Our development is due within a great situation. Slight but our challenge is tough. Jonathan opening chinas doors to foreign businesses and monetary policy. Joining us are Tom Mackenzie and enda curran. Just run us through the highlights of what
Thise about 30 into session. This is only the worst session in a little more than a months time for the major averages here in the u. S. Recordid, we have seen after record recently. This is a little bit of a switch in sentiment, certainly, if nothing else. Also, as we have been talking about with the anniversary of black monday, that is something a lot of traders are talking about and thinking about, and if you have not checked out our oral history on bloomberg. Com of that day, it is a fascinating read. We are amid earnings season as well, so it is about the fundamentals. This is a Slower Growth in earnings season, or is expected to be. The earningspershare estimates for the s p 500 and the yearoveryear growth that is estimated. We have come out of this earnings recession now, we have four quarters under about our belts of growth, and there is estimated to be growth this past quarter, but it is Slower Growth, as you can see, before and it acted increasing growth an expected increase
Faber broke the story, a lot more on what it could mean for media content and streaming and more the vote is in, bill ackman has lost it was a pretty tough shella shellacki shellacking. Well talk to Carlos Rodriguez about this companys victory coming up. Bob lutz says we are approaching the end of the automotive era and in 20 years no one will even own a car well dig in on bobs predictions. David, first up, the latest on disney fox. Listen, yesterdays story was interesting, largely for the fact while it may not actually occur, that is disney buying many of the units of 21st century fox, the idea that 21st century fox was willing to engage in talks designed to sell a large part of the company, willing to go smaller in and of itself sends a significant signal to many of the Traditional Media Companies out there and that is the case again as we had reported through yesterday at 1 30 when we broke the story, talks had taken place over the last few weeks. They had ended although they could
Small cap russell index is often seen as a proxy for tax reform that index is underperforming again today. Well have the latest on any changes to the house tax plan, and we have an update on the senate tax plan. Which is still to come lets start, though, with todays earnings parade that is driving big moves in the market. In various stocks. Bob pisani joins us now with the highlights from this morning and we have a preview of whats still to come here tonight, bob. Retailers coming, bill, but remember 75 done. Still a lot of retailers just want to companies in general, just take a look at royal caribbean, nice move up here beat by 9 cents. Despite the hurricanes and the issues, they gave a terrific 2018 outlook thats why the stock is up almost 3 . Move to the left, remember coach, well, its now called tapestry, that i had a decent number here. The small beat, revenues were short. Remember, now, they now own kate spade. So theyre merging the company i would call this a transition quarter