Down almost 3 at one point. Jack ma said to surge up the wealth table after a mega dual ipo. Expecting to raise almost 35 billion in hong kong and shanghai viewed Sheldon Adelson rolls the dice in las vegas. He is said to be extorting the sale of his flagship casino which cost more than 6 billion. Shery lets get started with a quick check of the markets right now. We are seeing u. S. Futures opening pretty flat after we saw u. S. Stocks falling the most in the month and the regular session. The s p 500 down 1. 9 . It was the biggest drop since early september. We have the ongoing fiscal stimulus impasse, now on its third month. We also have surging coronavirus cases. Boeing falling on chinas plans to sanction the company over sales to taiwan. We have the u. S. Approving another potential 2. 4 billion of antiship missile fuel to taiwan. The vix closing above 30 for the first time in almost two months. We saw strength in the u. S. Dollar. Take a look at oil prices. Wti rebounding a littl
Billionaires index. Raise 30 5ting to billion in hong kong and shanghai. Aviation in australia. Alice springs emerges as the ideal place to store passenger planes left idle by the coronavirus. Shery. Shery breaking news out of south korea. We are getting the preliminary thirdquarter gdp numbers and we are seeing the quarter on quarter the economy has grown 1. 9 , which is beating expectations of 1. 3 and this is also coming after its first recession since 2003. We saw a contraction of more than 3 in the previous Second Quarter. Youre on your, still a contraction of 1. 3 but its a much smaller contraction than was expected and it is also a contraction that has eased from the previous quarter. We have seen growth and strength when it comes to south koreas exports and manufacturing industries. Thirdquarter manufacturing actually growing 7. 6 quarter on quarter when you look at the details in the gdp numbers. We have seen the rebound in china. South koreas biggest trading partner helping i
A weaker u. S. Dollar as well. 105. 38 to the japanese yen. Gold back about 2000. 003. 35 an ounce right now. Walmart benefiting from online orders but store traffic was hampered by the coronavirus. The companies cfo said comp sales growth slowed last month as the government relief waned. Lets bring in Morgan Stanleys Simeon Gutman. How did the Company Managed to get margins around 42 . Comp. they had a 9 rising tides lifts all boats, but they had gross margin in the u. S. Swing from down to 200 basis points to up this quarter. The primary driver is the mix of food and consumables, which tends to be lower margin, was mother in percentage, and a big shift toward general merchandise. A nice swing in gross profit to hire to cover those higher costs of operating, but the results were better sales and gross margins, allowed them to generate that growth. Vonnie walmart was only really getting going in the last couple of quarters. Did the digital improvements help out this quarter . What does
We have very weak inflation data. Euro is down versus the dollar. The pound is down versus the dollar. The dollar is strengthening and that will weigh on market sentiment. We had the biggest by germany today in at least six years. Increasing, it will be interesting how the market digests it. It comes back to this argument ultimatelyirus and you have to make a choice on that you position yourself to one of the other when it comes to the bond market. In, you kind of layer there are still trade war is happening whether it is exit or china brexit. Robert lighthizer has been speaking to the house ways and means committee. He addressed the deal between u. S. And china. It is a complicated relationship. It has gotten more complicated because of actions they have taken weaselly. Billionin place 370 worth of tariffs. I think it is a really good agreement for the u. S. And we expect it to be honored. Alix joining us for more is the National Foreign trade Council President and former Deputy Direc
This is bloomberg. Vonnie thank you. We are back in a moment. Vonnie this is bloomberg markets. On vonnie quinn. Saysard chartered ceo singapore and hong kong could recover from the pandemic in the second half of the year. Francine lacqua spoke about what the western world could learn about controlling the virus. The bank of england took the view, understood the view that given the uncertainty around this crisis, uncertainty in terms of financing requirements, uncertainty around the losses that banks will take, its appropriate to be atraordinarily despite strong Liquidity Position and loan but today, regulators have taken the view that prudence should rule the day. I understand that. When can we get back to Something Like a more normal capital strategy . Role ofhave to see the banks helping the world recover from this tremendous shock, has largely flown through. We can all speculate how long that will be. I think we will see the ability to return to normal by the end of the year, but e