These are your markets. A bit of a move sideways for the europe stoxx 600. Mix the data across the world and mixed corporate earnings. If you look at the banking sector, it is one of the biggest gainers. We have a german manufacturing orders and Euro Area Services pmi for the month of october. Better than expected. Anything above 50 means expansion and we were expecting 51. 8. So look out for any movement on eurodollar and the u. S. 10 year yield. Coming up, we speak to the president of south africa. Come alk about s escom at a possible ratings downgrade. But first, lets get to bloomberg first word news. We begin with the impeachment inquiry for President Trump. The actions of Rudy Giuliani deeply unsettled to ukraine, outlining a quid quo pro. This is in exchange for investigating joe bidens son. Julienior ambassador said Rudy Giulianis role started as perplexing but quote became more insidious. The world has gone mad with free money according to ray dalio. He decried the current poli
News from one of our own. Brian belski raised his s p target to the highest on the street. Its good to see you. I should note you did this before the cpi report came out today. Tell me why youve taken your target to 5600 . The biggest of the bulls, thats what were calling you now. Well, thank you so much. Were humbled with that moniker. Ill just remind everyone that when we published our piece in november of last year, our base case was 5100 and our bull case was 5500. We became admittedly a little more cautious when the market was sideways in march and april, and we thought the correction would be deeper than 5 especially against historical norms. Now i think its too late. I think the market is going to correct from a higher level. Theres no point in trying to time this. I think stocks go higher, and we will correct from a higher level. It doesnt mean were not going to get the weisman pullback or the belski pullback. I think we can add to positions at cheaper levels, scott. For now we
Up noorn more than 20 . People going towards the stocks. The question, is there going to be a potential cut in dividends. I dont believe so and utilities have ban great performer the last number of years. The hunt for yields is going to continue and the oneyear to 1. 48. Look, in utilities, theyre a special sector, because theyre a regulated entity. Theyll get enough to pay those dividends. See a massive recession, depression that will shut down terms of need for electricity and so forth. They can do fine. Tickle the energy cost coming down. Look at materials, however, stocks like php, i dont see how they maintain div gends going forwa dividends Going Forward. More worried about that. Energy could come down more. Basically okay. Theyll come down. You still need dividends. Telecos . Who knows . Major disruption there. And in some respects, joe, try to get what could be coming. Gdp report, disappointing, business dropoff. People wondering if that forecasts a recession. If business spendi
Early conclusion of the tpp. Furthermore, on the aiib aiib in asia theres a tremendous demand for infrastructure. And the Financial System to respond to this is very important. On this recognition we see eye to eye 2009 china and myself and i think this is a point on which we see eye to eye between many countries. For japan to participate in the aiib is a decision which we have not taken yet. But to create such an enormous financial institution. And since this will have an enormous impact on Asian Countries as fair governance is necessary of the institution. In particular the board to review individual projects and to approve of this is indispensable. And sustainability. And the environment and society. And the impact of this should be considered. We need to secure this. Its not only about the lenders, but the borrowing nation zs. For example, various Infrastructure Projects may not be sustainable. It might have too much of a burden on the environment. If this is the case this will bri
Products containing genetically modified organisms. Monsanto, dow, pepsi, and coke are spending millions fighting the measure, which could impact labeling practices across the country. We will host a debate. Then, Michael Pollan, author of, the omnivores dilemma and in defense of food. Why the industry is so intent on not having this product labeled . They think people would not i entered the reason they would not buy it is it offers the consumer nothing. No benefit. All of that and more coming up. This is democracy now , democracynow. Org, the war and peace report. Im amy goodman. We are broadcasting from Stanford University. At least four children have reportedly been killed in a u. S. Military attack in afghanistan. Afghan president karzai disclosed the attack on tuesday, saying the victims died after it ended caught in the middle of a firefight between u. S. Forces and taliban militants while tending to livestock in the eastern province. In syria, International Mediator Lakhdar Bra