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Joe, whats this about what do you think is going on in the market, joe . I think this is an asbestos luts perfect technical correction that were experiencing and we have been experiencing from the beginning of the month i talked about it with you i dont think the time is now to be stepping in and thinking that its over. I agree with your opening. Tlp is further weakness that lies ahead for the market. Lets keep in mind theres significant weakness in germany. I know jim talked about apple being higher for the day as a good positive indicator. Apple should be higher wasnt able to sustain that its in a bear market. As long as apple remains under some pressure, you have to believe the overall market will have a bit of its own problem, dont you think. Possibly. First of all, we needed a correction whether its because the case, the daily case in europe are now ahead of the u. S. Or the debates next weekend or the election coming up we needed the sell off this is great thing. Investors have t ....
Chinas exports expanded in august but imports tell a different story as shares of the chipmaker, smic dive. And u. K. Officials are said to designed toa law override the brexit agreement. It has just gone 6 00 a. M. And that in london and dubai. M. In will Christine Lagarde said quietly on friday . Squarely back is on the agenda. Good morning. It certainly is back on the agenda. Look at cable trading this morning. As you say, Boris Johnson playing hardball and the u. K. May introduce the bill that may dilute the agreement that they have come up with which will more complicated. Im interested in the hurdles state aid and fisheries eight hours dedicated to each of those pocket topics this week. The question is about the repositioning on tech. Andill dig into that whether or not the market is beginning to turn order is it going to bifurcate more profoundly . Today. Markets are ....
Twitter shares fall after hours on an unprecedented hack on the accounts of prominent u. S. Figures, including elon musk and bill gate. Jack dorsey called it a tough day. Welcome. It may have been a tough day for twitter, but it is also shaping up to be a tough week for tech stocks in general. The nasdaq leadership we have seen falling back a little bit this week. Nonetheless, we did see a little bit of strength come through on the s p 500. Today, we are seeing a little bit more risk off sentiment across assets. Perhaps to do with concerns around the china data, particularly around the retail sales question. Asia, the screen and particularly in chinese equities. The 10year yield is steady. You are seeing the dollar steady after a couple days of weakness. Also perhaps the fact that we are seeing a little bit of softness in crude. It did close that a fourmonth high yesterday, shrugging off plans by opecplus to taper production curves. Lets get to the first word news now. Coronavirus case ....
The s p is up. The pmi data driving the euro higher. You are seeing a little bit of a market, buthe bond its not a big one. Its not really reacting in the same way that the rest of the market is. We have some great guests lined up. Hour, up later on in the the former secretarygeneral of nato and former Prime Minister of denmark. We will get his take on whether europe is capable of standing up to china. He wrote an interesting piece today. We will get more on that. Alix to start focusing in on europe and the optimism from the positive pmi, mike mckee joins us now to dig through the details. Mike, what are the highlights . The question would be why better ko not doing is why is france not doing better . Measure howxes Companies Think this month is compared to last month. It doesnt tell us anything about the level of activity, but it does tell us there has been some sort of reb ....
Outperformance of a lot of these subsectors, you are looking at transports, small caps up almost 3 on the day. These other good signs we want to see. Obviously a lot of optimism that a deal between the u. S. And china is being worked out. A lot of this predicated on a couple of tweets i President Trump that seem to intimate that something is imminent. We dont know what, but right now that is enough for the market to rally on. In the bond market here, your 10 year yield 1. 75 . Keep in mind where we were it week ago today, about 21 basis points lower than that. Your three months10 year yield curve spread, we inverted back in may. We inverted for the First Time Since we inverted we uninverted for the first time today since may. Your dollar a little lower today. We will keep an eye on what is going on in the oil market. A little bit of negative news with regards to what we he ....