Now. And welcome to power lunch. Im milissa lee. Holding steady this hour, dow managed to hit another record high right at the open before pulling back here. Apple one of the biggest drags in the session this after the company acknowledged cellular connectivity problem with its new watch annadarko, a massive buy back and fifth straight day of gains and near session highs on pace for a fifth positive day in six we begin here with a developing story. President trump announcing new sanctions on north korea eamon javers has the latest. Hi milissa. Alongside south koreas president moon at an event in new york city. The president saying, first, the United States had put new sanctions on north korea and also that the chinese president had told chinese central bank, told banks in china not to do business with north korean entities indicating the chinese are getting serious about exactly what he wants them to do in terms of north korean trade what the president had to say thanking chinese presi
She will tell eu negotiators it is your move. A very warm welcome to the program. This is bloomberg. We have a treat for you. Catalonia. In and a diplomatic spat between the u. S. And turkey. Let us talk about this turkish story. Caught in thes asia fx witching hour. Countries are vying with each other. They canceled their mutual visa program. Normally it is 25 ticks. Times itst to 60 average. If you thought of electronic trading was going to save you and give you transparency and efficiency, do you know what it did . They switched the electronic trading off. We take that threw two the risk radar. Was down 6 compared to the earlier closing. Relations are deteriorating. We have the chinese shanghai market as well. They are back in the room, playing catchup with hong kong. Wentong kong listing higher. That is feeding through to the Chinese Market. We still have closures over in asia. A lovely piece on the bloomberg this morning talking about the reserve. They have compared that to greens
Welcome to bloomberg daybreak our flagship morning show in london. Matt miller back in the german capital. Great to see a map. Lets get some breaking news on ubs. Surprised investors with the drop in financial strength. The capital rates rising to 13. 7 in the month through september. Net income rising 14 . That could come in below estimates. Wealth management is the banks core business, contribute 500 million francs, that is up. A little more appetite for risk. We will also hear from the ceo of ubs. Matt we have a couple of headlines. Are goingnd clarion to abandon their merger. These headlines are just crossing the bloomberg terminal. It is going to avoid paying, so it will save 300 million. Huntsman and clarion mutually come to this decision. Speaking of deals, we have a headline crossing the Bloomberg Lafargeholcim and talks. Theyre going to reset their 2017 and 2018 outlooks after thirdQuarter Sales came in at 6. 9 billion ahead of estimates. Generally in line with estimates as fa
Expectations opec will extend output curbs. China Energy Giants report later. Haidi apple fans counting down to the iphone x. Apple asking chipmakers to double capacity. Right, we have Energy Companies in china reporting. I want to bring up a chart, 80 to 96. This is petrochina. This is the biggest destruction of shareholder value in history, and it could take more to convince analysts the stock has hit autumn. Peaked on the first day of trading 10 years ago. Check it out. It has lost 800 billion in market value, i enough to buy italy,isted company in or circle the earth 31 times with 100 bills. Many analysts think the pain may not be over either. In terms of a broader picture, we are looking at a event risks. We had that positive gdp print out of the u. S. On friday. This week, fed leadership and the fomc meeting, boj, boe, china pmi and Inflation Numbers to paint the picture of whether we are getting sustained Global Growth. All of this for Bond Investors to contend with. Lets get ov
Are now in jeopardy. The rushton inquiry the russia inquiry, a former campaign manager, Paul Manafort. News, 51. 6. It was an estimate of 52. Nonmanufacturing, 54. 3. Lets bring up this chart. This is what we have had, it has been a rocky road. Line,mber below this red indicating contraction. That is what we have. Sector the private measure in blue. 52. 4. The october number, 51. 6. Lets see if we have any reaction. Reading, we do have a bit of reaction when it comes to the aussie dollar, which has been fluctuating. Out the chinese bond market. The 10year yield falling two basis points. Borrow. Up the cost to investors will be crossing their fingers with what is going on in the bond market. Banks to digest, for example. The nikkei 225 snapping a threeday rise. Industrial production, that plus Earnings Growth is 3 reinforcing the economic recovery. The asx is expected to trail. Seen stocks recover somewhat giving the easing of tensions between these two economic powers. Movead we have a