Michael mckee is here to help us break it down. Michael good news for those who hope the economy is recovering quickly. Atufacturing pmi comes in 54. 2, and the ism forecast of 53. 6. Take a look at the manufacturing new orders index, up to 61. 5 from 56. 4. At 62. 1,ction number from 57. 3. So a big increase in new orders and production that hopefully will keep the economy going. We heard Robert Kaplan this morning saying he thought things had turned around and slowed down. Manufacturers at least through part of july sam some good news part of july seeing some good news. The one thing we dont have is payroll friday, the ism employment number still comes in pretty weak. From 42. 1. If you incorporate that into your models, it might weaken a little bit what people are expecting for friday. Alix i am glad you said that because in europe, part of the conversation after the positive pmi was the employment and jobs picture doesnt look so good, but we are not quite there yet. I am wondering
This is the markets we are looking at in terms of global equities. This is a second straight day of rallying, s p 500, futures advancing, crude oils advancing to levels we saw back in october. Jumping,s dollar also and the nations bond following after the nationsbank released minutes of the latest meeting. Lets get straight to the bloomberg first word with nejra cehic. Nejra thanks. Broadbased a weakening of inflation pressures was behind this months surprise Interest Rate cut. The australian Central Banks first reduction in a year came after cpi fell on the First Quarter for the First Time Since 2008, even as the Growth Outlook remains steady. Still, the aussie dollar jumped, as they said the deal wasnt viewed as a slamdunk, reducing the likelihood of a followup move in june. George soros has cut his funds in u. S. Stocks by more than 1 3 in the First Quarter and bought a 264 million stake in the worlds biggest bully and producer. Hes warned of risk stemming from chinas debt fueled ec
Tom keene is in new york. We have this possible merger, then we have the brexit news, and the market. Tom we will focus on commodities in the pacific. Francine, i totally agree this one month mark off to brexit is front and center. Francine it is. A lot of people have decided, saying, why we are even voting for this . It means a whole conservative the government. Now lets get straight to the first word with shery ahn. A summary and has joined the hunt for the missing plane in the mediterranean, trying to find the egyptair jets voice and data recorder. A french tv channel reports that the pilot spoke to air Traffic Control about smoke in the cabin just before the plane disappeared off the radar screen. One ofnt obama has ended the last symbols of wartime animosity between vietnam and the u. S. In hanoi today, he lifted the embargo on the sale of weapons to vietnam, hoping to strengthen commercial insecurity ties. The u. S. Has confirmed that a u. S. Drone strike killed a leader of the t