Concern. In an exclusive interview, fetal ceo says things will get worse before they get better. The expectations of how long the virus might last and its longlasting impact, people have probably been reducing their worstcase scenarios over that period of time. Is said toredit ceo emerge as a leading contender for the top job at hsbc. Could another European Banking head be about to jump ship . Lets take a look just under an hour away from the start of cac equity trading at futures this morning. Down across the board, no matter where you look. Red arrows there. They are pretty solid. 0. 5 down on deck futures. 0. 5 drop. S, also almostfutures down 0. 66 . Gmm. A look at the that will show you quite clearly that we had big losses in equities and asia overnight. We continue to see some of those equity indices fall. Hsi. Kong down 1 on the if you look at the bonds, if we go to the next column you will see that investors are buying bonds and that really weighs on the yield. The trend is ris
Seeing. Sarah you look at equities in japan right now. The nikkei 225 of more than five percent, trading below 20,000 for the first time in over a year. What is already been very rough price action is only getting worse as time goes on. You look at s p 500 futures trading at the 5 limit from the friday reference price. 28. 1 nine. At futures continue to trade. They just cannot jump although it or fall below it. That is the first time we have seen a limit down since donald trump did win the presidency in 2016. The asx having its worst day since 2008. Msi market watch, the asiapacific region is having its worst day since june of 2016. What is really pulling lower is the energy stuck. Off by 8 . That is the worst day since 2008. It is your upstream energy companies. Your producers that are weighing. The worst day since 1988. Also some of your worst performers coming out of hong kong. The legs of oil fields having its worst day ever, off 15 anything. Energy related really all 15 . Anything
Will we had that 2 as we continue to get a trade deal . Time now for global exchange, where we bring you todays market moving news from all around the world. From hong kong to beijing, london and washington, our bloomberg voices are on the ground with todays top stories. In asia, chinese economy is showing signs of stabilization and regaining some kind of growth momentum in november. Chinas Industrial Production and retail sales both meeting estimates. Joining me on the phone is in an. Current is enda curr give me some of the details in the data dump we saw overnight. Enda these clearly signal that the economy is ending the year on a better note. 8 . Il sales climbed Industrial Production rose 6. 2 . Theres some caution around the fixed Asset Investment number, which only grew 5. 2 , but nonetheless, the take away among economists was it showed that the stimulus the government is rolling out is having some traction. There were some seasonal effects as well. But when you have a trade ag
Yield backing up about four basis points. We are now 25 basis points away from a bill gross who is now saying we could desk could be a could be a game changer. David a big day for earnings. Billion and18. 8 67 gspershare, dollar 1. 67. This be a pattern of earnings with 80 of companies. Alix revenue and sales on that. Energy leading the way. Conoco out with their earnings. A 2. 5ws come in billion, earning be as wells. As well. We saw the same thing happen with shell. The production missing a little bit. Up, 5. 5 billion so far this year. Cash flows at 2. 5 billion. What are they going to do with the cash flow . How sustainable is the higher cash flow . David we have someone joining us who will tell us. Dicker is looking at that. Alibaba announce their earnings and they beat as well. Per share. Yuan total79. 8 billion yuan revenue. 30 on theire back payment system. 33 on their payment system. Myx so i will put it in right pocket and left pocket and that is how we rounded out. David the
Board almost in ascending order the nasdaq gaining the most as we continue to see a comeback in technology shares. Have seen strength in small caps consistently over the past month. The larger cap averages dont quite retain those levels. A chart of the small caps and one interpretation of them. Jim paulsen wrote in a report caps perform especially well when traders and investors expect inflation to accelerate. This is the ratio to the s p 500. When it is rising small caps are outperforming. We are looking at a marketbased inflation gauge. One measure of perceived inflation. Essentially we have seen a bounce in the blue line at the same time we have seen small caps outperforming larger caps. Speaking of inflation as well we are taking a look at the bond market this morning. We have quite a notable measure in the twoyear yield. 1. 4 7 this behind it has been since 2008 on the heels of Janet Yellens speech yesterday in which she seemed to indicate the fed is going to continue with Interes