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evasion. big numbers and equally big questions. critics say the record-breaking da vinci is too good to be true. yvonne: just when we thought we got over this big hurdle on tax reform in the house, clouds looming in the trump administration when it comes to russia.a wall street journal report just breaking special counsel robert mueller s team last month had issued a subpoena to president trump s campaign requesting some of these russia related documents. we are seeing some moves in the market on the news. betty: we are. the subpoena did not compel any officials to testify before a grand jury, but it caught the campaign by surprise, and also noted that bob mueller s team is expected to interview current and former white house officials, including the communications director hope hicks. there is certainly more to come in this story. some of the away bullish headlines from the u.s. about tax reform. in the meantime, let s get more on that with first word news with court ....
aside at google s parent alphabet. period of17 year long his senior leadership. betty: it seems like everybody is trying to ram and all the news before the christmas holidays. catalonia, google, and of course the spending bill passing the house. all of that and stocks today rose, breaking the today losing streak. we will quickly pull up the boards and show you how the u.s. markets ended today. the s&p 500 slightly higher, and nasdaq also trading a little bit to the upside, but fairly unchanged. investors trying to absorb what the impact is going to be from the tax reform package. yvonne: yes, just a moderate bounceback. we see some positives as we get closer to the christmas holiday. let s look at asia, said to track the gains set to track the gains we saw on wall street. new zealand up. and we are holding steady. australia, getting underway in sydney. 6100, it could be a big we will see if it reaches that level. 7702 for the aussie. treasuries mixed overnight, th ....
this is bloomberg markets asia. let s have a look at what s been going on. there has been a steeping of the yield curve going on, more flattening taking place. what we have is perhaps an economic slowdown in prospect. let s have a look at this chart. it goes back to 1986 and it tracks what s going on in the white line into the two to 10 year yield spread. that is indicated by this axis here. just over 60 basis points between the two of them. the green line is where gdp is. this is inverted. you can the lowest number of growth here, -4% contraction. what happens next is that the yield curve perhaps sees more flattening. we see growth has been improving of late. what happens in the future? we have a strong correlation between the two of them. one of the head scratchers in terms of what we been looking at this year. we had off to christmas break and volatility has been settling going lower, that if we can hold on to the moment in what we are seeing for this rally, we a ....
blockchain is shaking things up at old-school giants. inis now creating new life the stalwarts like ibm and oracle. betty: david, bitcoin was up, apple down, right? you saw some of that in asia yesterday, the apple suppliers getting hit on speculation about the numbers coming in far short of forecasts, in fact to 10 million shorter than what some analysts had predicted. i want to pull up a chart that you are familiar with. this is a 254. it shows you the revenue breakdown 8254. it shows you the revenue breakdown by segment and shows you how important the iphone revenue is to apple, but that decline we have seen a bit worrisome. this replenishment cycle really going to turn out to be the way apple believes it will be with the iphone x come or is $1000 the breaking point? david: that is a lot of money for a handset. betty: yeah. david: you look at these numbers and forecasts, you mentioned 10 million short. coming out, may be shipping 35 million handsets in the first ....
economic data. we have the chinese industrial province. this dovetails into what is happening with the story in the morning and what it will mean, phenomenal gdp. matching statistics, they are profitg in november and growth is expected to edge down to 25% year on year in october from 27.7% in september and we have continued to eke slightly in november but let s see where we come from. we were seeing profits under some pressure. at the moment, it is that at the moment. growth in the pipeline. some more movement. , as those numbers are out look at what is going on elsewhere. we have markets back online today following the christmas break and taking a look at what is going on with shares in singapore. recovering from tuesday s drop. ,hey are resuming gains marginally higher this wednesday and following the text want. that is in focus and snapping a .1% of thep gaining open. let s check in on the supplier in taipei. in that stock under pressure and falling for a second da ....