Jobs number friday. Markets slipping after weak overnight data. Present hitting new fiveyear low. The dow as we said within nine points of 18,000 and retreating today. Merck buying cubist more than 18 billion and cash. Comments late in the hour. Mcdonalds delivers another weak number. Sales missed the street, down 2. 2 worldwide. More than that in the United States. Well get to all of that later on. But first up, dow and s p, each posting a sevenweek winning streak since late november of last year. Blue chips within 48 point of the 18,000 mark. Futures falling on disappointing chinese trade data. Japans economy shrank more than initially estimated in q3. Crude falling to that new fiveyear low. Morgan stanley cut its forecast, oversupply to peak in the Second Quarter next year. But in their words, guys likely to get worse before it gets better. Once again, i mean, heres here we go. Theyre weak, thoi this is our strength. When europes down, by midmorning the money comes here we have the
And over 1 Million People are displaced as a powerful typhoon moves across the philippines suspending the bond markets as well as the currency market. Youre watching Worldwide Exchange bringing you Business News from around the globe. A very warm welcome to the show. Lots on the agenda. Well talk europe and china in a couple minutes, but the u. S. Dollar continue this is rally. In november and december, we think, are people looking backward or will they be looking forward at the structural elements for the stronger dollar. It seems like the latter. The strongest unemployment gain in 30 months is providing fuel to the u. S. Dollar. We were talking about it when we first started on Worldwide Exchange at a fourandahalf year high. Now close to an eightyear high. Definitely a resurgence. The question is how far can it run . Well discuss that throughout the show. But the ecb Council Member says he sees weakening in the eurozone economy and calling it a weak spot in the world economy. He cite
Picture. Analysts are forecasting for this quarter, thats going to be weak Revenue Growth. While we are seeing a reacceleration in gdp growth, that hasnt translated into higher Sales Estimates for this quarter. For q4, Thompson Reuters is estimating a. 4 jump in sales versus 3. 4 that we saw last quarter. Europe will also be in the spotlight this season. Analysts are betting that tech will benefit from the ongoing recovery in europe. Tech companies that have exposure to europe include harmon international, Electronics Arts and priceline. Last quarter, priceline saw an uptick in european sales. Analysts say the European Online travel market could offer considerable Growth Opportunities for priceline and the broader online traffic market, travel market, excuse me, going forward. When it comes to emerging markets, experts have a mixed opinion on business conditions. Last quarter, young brands and nike were cautious on china while General Mills saw strength on its earnings call. Management
You know what i think makes for it . Good breath means the stocks from many sectors are all going up. And you know what, theyre going up for many different reasons. We can learn so much from the companies that are hitting alltime highs right now from the s p 500. Do you know that 5 of the s p reached that fabulous mark today . When you consider the sectors theyre coming from, you can understand why this rally is, indeed, so powerful and keeps refueling. Even as the s ps in the rare position of being up more than 20 going into november, and that hasnt happened that often. This is a remarkable rally because of how many different kinds of companies are going up. Perhaps most important, lets start with the ones that really caught my eye. Are the transports on the list . U. P. S. And fedex to start. Think what happens to get these stocks to the alltime highs. First, Global Commerce has to be improving. Second, their costs have to be lower than expected because of streamlining and better cos
You would expect. Given that its unexpected with the dow free falling. The nasdaq down. 9 and s p down. 57. Im talking about the perspective chinese credit collapse. And we have all dethe sided it can reverberate into any company with exposure to china. Ford, coach, boeing, goldman sachs. The thing is all crises are pretty much the same in the post Great Recession world. There is the initial shock holy cow theres problems in the chinese banks which shouldnt be much of a shock at all. Until the last 24 hours, no one was focused on the credit equals gold number one collective trust. Thats the moniker of a 500 million chinese bond that could default as soon as january 31. Hurting individuals who own it or, well, the aches and pains of China Credit Trust. Another thing weve got to think about. The house of pain. We have endless ashurss not to worry because the peoples republic government has it under control. A bank possibly allowed to default there are implications that arent instantly pa