Guess at this point in time. Francine good morning, everyone, and welcome. In on your markets, we are getting some news out of the euro area. This is for manufacturing pmi be much in line with expectations. Looking at the stoxx 600, they are gaining 0. 2 . We had better than expected figures in terms of earnings in the markets are watching the resumption of trade talks. Eurodollar much more stable. Were getting Economic Data out of the u. S. A lot of investors think that actually will not move the needle because we had such a dovish fed a signal. Coming up, after the u. S. Jobs data, we will speaking to the director of the National Economic council at 2 30 p. M. London time. But get straight to first word news in new york city. Chinas contraction deepens, factory pmi had the worst readout is 2016. It is the latest indication of a slowdown. To 48 pointlling three, the lowest reading in nearly three years. It is also well below forecasts of 49. 6. But Business Confidence is at an eightmo
Pulled back a couple of hours ago when fed chair Jerome Powell was speaking well dive into what words drew the market low were up 2 10 of one percent. Going for five days in the row for the dow, the First Time Since october. For the s p it would be the first time weve seen that kind of win streak since september. Really gains across the board. Did not look this way after the open today. Slightly more defensive in terms of the Sector Performance today than past days but nonetheless as you say, five days again in a row for the dow would be a big win given what we saw late last year. 10 off the lows for the s p 500. Todays top stories. We have the latest on the government 14shutdown and more n the retail tech. Sara, they are going to feel the shutdown all the way over in switzerland. President trump tweeting that he is respectfully canceling his trip to davos. A smaller delegation led by treasury secretary Steven Mnuchin is still likely to attend but the president himself will not be ther
The new Democratic House of representatives that would include a budget funding bill that does not include money for the wall. David kevin we will come back to you. There is big news from china overnight. We had some pmis come out that show they are contracting a bit. It is exactly what investors were expecting. Trading lower going into the day pmis suggests manufacturing contraction in china for the First Time Since 2016. When you get below 50 it is considered a contraction. A lot of it has to do with the trade war. When you look at the new export orders they have dropped below 50 and are moving lower all the time. Up corporateg profits. China reported industrial profits are down as well. The drop in chinese manufacturing was expected, the question is what do they do about it . A senior economic adviser to a isber of Chinese Governments out today with an oped in china that says the Chinese Government needs to focus on immediate stimulus and not worry about reforms over the longer term
It has been a situation where we see the dollar weakened a tad. The aussie and the kiwi gaining. A slightlyooking at weaker fix for the rmb as well, which is a bit of a surprise. A rising boat is lifting all. Look at what is happening with japanese markets. Looking at a time when the nikkei has been outperforming the topix, which is rare. We should have it for you very soon. Lets have a look. David the antiratio guys. David yes. Rishaad the work we way the quirky way waiting on the nikkei. We have the nikkei outperforming indeed. Hich is rare david to that point, the nikkei weighs stocks based on the. Hare price rishaad versus the capitalization. Its an abstract, really. David its art. It is a broadbased rally. How long does this last . Again coming case you missed it, if you have been sleeping for the last 24 hours, the u. S. And china has agreed to put the trade war on hold into the new year following this highly anticipated meeting between the two president s, donald trump and xi ji
Prosecutor this week visited the kingdom of istanbul where the khashoggi wasa al killed. President erdogan insists turkey will not let go the murder of the saudi writer. Prosecutor visited the conflict to talk to officials. Said, we have received information the murder was premeditated and people continue our investigation. But people are talking about whether the murder was indeed premeditated, and to ordered it . Detained, 15ople people supposedly members of the and there are high profile these peoplewill be part of the investigation . That has yet to be cleared. How of the chess games playing out in the region . Who is trying to get what at this moment . Trying to getn clarity on this. Information has been released by turkish officials. There are all these reports that they have an audiotape of the murder. We are seeing ramifications. No one has suggested the conference will have any power in saudi arabia but we have seen pressure from the United States to end the war in yemen this