Up. This is Aljazeera America. Good morning. President obama is in ethiopia this morning wrapping up a News Conference with the countrys Prime Minister. The leaders are talking about security and fume rights. He pledged to help ethiopia keep up the pressure on groups like al shabab. Critics say the visit legitimizes the oppressive government, but president obama disagreed. This visit reflects the importance the United States places on our relationship with ethiopia continued growth in ethiopia dependency on the free flow of information and open exchanges of ideas. I believe that when all voices are being heard the people know that theyre included in the political process that makes a country stronger. We are live in ethiopia this morning. Why are human rights activists complaining about president obamas visit . They are saying that the visit might give legitimacy to the government that is clamping down on free speech as well as reege leaders. This is something the president addressed a
That wages are not necessarily increasing the way economist anticipated. Pimm the worst performance in wage growth ever on record back to 1982. Scarlet the Consumer Confidence number was a little lighter than what economists had anticipated. Look at oil companies. That is the s p 500 intraday. The s p 500 taking the worst hit exxon taking the worst hit. Was not far off. Lots of superlatives and none of them positive. Lets get a check on oil prices and gold. Nymex crude down. Brent down 1. 5 . Gold up by 0. 5 . Pimm lets see how the wage report reflected in the bond market. A little bit of buying at the 10year and the 30year. Look at theemonth 10 year yield. Yields are down. Prices up. People interested in buying the 10year. Lets take a look at the currency. The dollar is unchanged against the euro. The dollar weakened against the japanese yen. The dollar continues to increase in value. All at stake a look at something youve got in your terminal. Scarlet we want to end things off with h
Bloomberg asia. Checking on markets, lets head to new Zealand New Zealand to be gainingen for three consecutive weeks. The kiwi dollar has seen a falling for the last three consecutive sessions. Down to thecounting opening in australia. Japans nikkei ending 3 higher. Futuresand make a pointing to slightly higher futures pointing to slightly higher. Manufacturing data coming out later today. An economic slowdown. The gauge slipped to a fivemonth low. Yvonne has been taking a look at this. It may be time to take more action. That it justsigns was not stable. Market juste stock makes things more obligated. In july. Pmi 50 anything above 50 indicates expansion. There are talk of fresh fiscal spending in the picture just to make sure china can reach that growth target by the end of the year. Continuing pressure for the second half. Numbers tosimilar the 50. Deterioration. It is facing more difficulties there. There is a measure of services and construction that turned out better than expect
Supporting their economies and also containing debt and asset prices. If you look at what is happening in australia moving further into the rest of the year, maybe more, and the other side of that same coin is you have home prices. In sydney, something they have not seen in at least a decade. Another good example of that is to take it take a look at what is happening in south korea. A surplus, but it is not being driven by exports the way it should be. That is the main engine for growth. Trying to support that part of the economy and balancing fairly high household debt. And looking at taiwan, the biggest mover so far in asia this multiyear bull run. And we pushed past 10,000 at one point this year, under increasing threat. We are approaching the 8500 level at this point. The previous low was back in october of last year. Below that, we are headed to about 7900. I will leave it there for now. Back to you. Rishaad well, we had david alluding to china, and the Manufacturing Survey showin
With the headlines. Julie we have one item of breaking news, construction spending. Month over month, it is a disappointment. It looks like it is more than made up for based on the revision from the prior month, an increase of 1. 8 , up from 0. 8 . Getsee that the may bar bigger as the june bar is smallre. A strange situation with the isn manufacturing. The numbers coming out early. We saw manufacturing in the u. S. Cooling in july from the highest level in five months. The reading is down from 53. 5 the prior month to 50 2. 7. Guys. Matt thanks very much for that. I want to check out how markets are reacting to that news. Stocks are trading lower. Take a look at the indexes. The nasdaq is up a little bit. The s p is unchanged. The dow is down. We did have an up month at the end of the week last week. Erik i want to point everybody to what is happening in the oil market. Freefalleen oil in a over the past few days. Brent is really pacing declines. This is more of an international bench