China despite the spread of the coronavirus. The Global Smartphone market has been slowing down for some time. The coronavirus will only make it worse. Shipments will drop 2. 3 to around 1. 3 billion units. Paul allen and emily chang spoke with the privacy the ibc president on wednesday. We have a number of analysts looking at this. We would say the tightest ingredient in this is the people. People are not fully back to work. With think the manufacturers in china are mainly 30, 30 5 35 of capacity. They are slowly starting to ramp back up. China also has been a place where many components are manufactured. From that standpoint, what we have now is we believe the tightest components will be pc base and screens. That would fit with the story we have today, that if you are having trouble with replacement parts, what is one of the biggest parts . You drop your phone and you break your screen and you need a new panel. The idea that displays and screens are already starting to show up in sho
Climbing ill tell you how its done. Market reached unheard of levels by triumphing over the concerns that caused Money Managers to stay on the sidelines to buy lower prices often hear we climb a wall of worry to get to exhausted levels but today we just didnt scale a wall but beached and busted through mine fields, force fields and cauldrons of boiling oil. This is a quite bull market. Tonight i want to go over obstacles weve overcome amazing list, outside of president on twitter seems to be celebrating is down. Challenges conquered thats a graphic obstacle number one, impeachment. I told you wouldnt matter to stock market based on bill clinton. Buying opportunity, not selling. But sitting president incredibly pro business and House Democrats are trying to take him down and stock market is ignoring whole process, maybe should impeach all president s works out for the averages obstacle number two, recession fears. Job growth is still robust versus the historical norm but over the summer
After the biggest quarterly drop in profit. And paribas sees a rise in income as trading revenue dries up and israel continues strikes on the gaza strip with Prime Minister Benjamin Netanyahu warning the military is stepping up preparations for a ground assault. Good morning warm welcome to street signs. It is risk off in europe after the brutal day of selling on wall street which saw nasdaq plunge dropping more than 2. 4 the worst trading day since february that set the tone for selling in europe this morning. The negative sentiment stateside spilling into europe we are seeing heavy losses in the auto sector in europe driven by mercedesbenz and volvo also in the banking sector, Standard Charter dropping double digit at the open after the profit miss. We will detail all those stories for you. Those are the headlines for you and the sentiment dominating the market which negative. Ftse 100 is down. 80 . We are seeing a pullback with cac 40 down o. 70 this coincides with the rise in bond
Health and Human Services secretary setting the stage for , him to play a leading role in dismantling obamacare. Vice president mike pence administered the oath to price just hours after he won the senate confirmation. Protestors gathered outside a Public School in d. C. Where betsy devos planned to pay her first visit as education secretary. She was blocked by protestors from entering the school. Devos has been promoting Charter Schools and voucher programs which critics say would hurt Public Schools. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Bloomberg technology is next. Caroline welcome. Im caroline hyde. This is bloomberg technology. Welcome to this friday. First, key headline coming up, a trump business tax bump. We look into how investors are weighing the impact of u. S. Politics on tech. A tale of two ceos. While ubers chief is getting vilified for his connection to trump, elon m
Futures seem to be negative. In a repeat of yesterday, down in the european session about dow. Points on the then we come back up as things start to unwind. Be interesting to see. Kicked back nicely yesterday. Pause or are we seeing a rotation or minitemper tantrum . That. Ll be dissecting we have some great guests for tabckling the feds. Scott e joined with minors. He will reveal his big call on year note. Plus, later were going to head buenes ares. But first, youre standing by to market. The it felt a little bit down this morning but except you look at commodities. Governors brainards speech. Struck by her. Ne they were. Wasfollow through to europe as follows. Three days of losses. We snap that up. Yesterday, a softer dollar session. Little reverted just a bit with the bloomberg dollar index up by quarter of 1 . Happening on the cable rate. Down by half of 1 . Inflation in the United Kingdom came below estimates. Downside surprise potentially the door if they so wish to cut rates aga