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Coming out with earnings this morning. The big story that cut its full year revenue view seemed to maintain its earnings and increase its gross margin forecast for the rest of the year. Its revenue at 2 versus 4 on the high end. Remember this is all in part as well as the stock plunges. They did not comment. They wont comment on any further investigation. They do say they are cooperating. Our time for global exchange. We bring you todays market moving news from around the world. Bangkok to london to washington. Our bloomberg voices are on the ground with this mornings top stories. We want to start off with the latest trade development. The u. S. And china say they are close to agreeing on the first part of a trade deal. Wilbur ross spoke to bloomberg expressing optimism on the socalled phase one deal. I think we are in good shape. We are making good progress. And theres no natural reason why it couldnt be. Alix joining me on the phone from bangkok is ed in a edna. Also that exclusive i ....
Exchange, where we bring you todays market moving news from all around the world. Joining us from brussels, bloombergs maria tadeo, from london, ed evans, from the white house, Kevin Cirilli, and Michael Mckee joins me here in new york. First we want to start in brusselss maria tadeo. We are taking a look at euro area confidence falling to the weakest level since 2017. Maria tadeo joins us for more. Maria thats right. The numbers were particularly bad when it comes to industry. Trade uncertainty really weighing on prospects on the outlook. This is particularly bad for germany. This is a very export oriented economy. In europe, germany is coming under huge pressure to engage in fiscal stimulus to drop that black zero, no deficit policy. We are looking for any signs this is going to happen anytime soon. We are just not there yet. Has got to be, brexit. We are just four weeks away ....
Tuesday with the nasdaq 100 at alltime highs with a big focus on retail for the next 60 minutes or so. We will hear from lowes. We will hear from macys, too. From target, plans to reduce prices on 5000 items. We know consumers are feeling pressure. Lisa we havent seen it show up , the pressure, and the broadbased confident for disinflation, which is the reason twiddling our thumbs waiting for retail to come down. Annmarie barclays saying challenges for target, cutting into memorial day, expect or of your bargains to go into july 4 like everyday items. The, soda, fresh fruit, yogurt, peanut butter. Jonathan, it caught the attention of the white house. Biden immediately tweeted about it. Jonathan surprise, surprise. We need to look to the bulls on wall street. We will catch up with mike a bit later. Still bearish, jp morgan maintaining a bearish stance with high valuations, restrictive rates, and in nation. Lisa he also acknowledged a negative stance in equities, its got to be pretty awk ....
Dow, it will be an eight straight month of gains for the dow and s p 500. Strugglest for the Technology Sector once again. Lets look at what happened overnight in asia. You will see that the nikkei ended up by close to 0. 6 points. Stocks in china under pressure the hang seng down by 1. 5 points the shanghai down by 0. 6 . In europe, in the early trading, it looks like there are green arrows across the board. Biggest gains from the major averages come out of germany where the dax is up almost by 0 0. 8, the ftse up by a quarter percentage points. Right now looking at crude oil prices opec and nonopec producers, ie russia, are expected to announce an extension of output cuts until 2018 a lot of concerns about that, whether there will be Sticking Points along the way thats why crude oil was under pressure yesterday things have picked up this morning with a gain of 1 for wti. ....
Over 100 point for the dow about 120 points the s p is down 8. The nasdaq down 29, 30 points. Just over a half percent for the dow. Less than half a percent for the s p and nasdaq this comes off 0. 6 declines yesterday. The nasdaq has now declined three days out of four while yesterday he was saying all 11 sectors of the s p were liar last week, yesterday all 11 sectors of the s p were lower. But lets put this slight decline yesterday and this morning into perspective were still up 7 to 8 month to date for january one of the best starts to a year since 1970 a bit of a pullback yesterday is in perspective we are continuing that selling momentum one of the factors yesterday people pointed to was rising yields the tenyear hitting a threeyear high. We have come back off that today. Maybe that is a reason markets can find impetus during the course of the session. 2. 69 on the tenyear note. Asian equities were selling off. Did have a negative session, and looks relatively scary when you look ....