Energy is interesting because energy looks to be fairly red. Tried to stay independent. All in all, that is a positive industrials also being bought this morning. Move but now he is doing another not a very clear message coming from the sectors. What do we see in the movers . Move because he holds himself out of the election and that is the best he could do with the moment. No doubt we will see some moves our colleagues based on that. And we are getting gdp running that powell will need a figures out. Horror show to cut again. Third quarter gdp in spain is it your expectation that we do not get a recession, there is expanding 0. 4 . That matches the estimate but so no longer any need for rate you know gdp in spain is up 2 cuts . Momenti would say at the from a year earlier. There is no recession, the ,umbers do not sure recession. 4 as a month over month european thing. The way the americans do it is but he makes clear in his speech yearoveryear numbers. If something happens, that is n
He is this morning with a slightly dialback version of that speech, but still some very tough messages, saying the u. S. Will stand up against authoritarian governments and repressive governments, talking about hong kong as an example of what happens when china embraces liberty and slamming both nike kowtowinga for their to china, saying some people in the nba are acting like it is a whollyowned subsidiary of an authoritarian government. , they tough messages question is how they are going to be read in beijing and that mood is very important as we go toward that meeting and the possible finding of a trade deal of which relate would put a pause in this trade war. Not just going after china, but going after u. S. Companies that go along with chinas. Ishes, that is pretty harsh at the same time, he does mention hong kong, because we are not trying to decouple from china, but how is beijing going to regard the issue of human rights they put together in the same speech as what is going on
The big chief opens the door to rate cuts as he announces a new appetite for treasury and insists it is not the return of qe. Shery later in Bloomberg Technology global link, how washingtons latest salvo against chinese tech is the most lethal threat to beijings ai ambitions. Lets get you started with a quick check of the markets. U. S. Future slightly higher at the moment. This after the s p 500 fell for a second consecutive session, down 1. 6 . The dow also lost more than 300 point. Semiconductors taking the biggest hit. They fell the most in about six weeks. Weve had potential retaliation coming from china after the u. S. Blacklisted its tech firms. It was really another rush to safety. We had a treasury rally that sent the 10 year yield towards 1. 5 , the lowest in a month. Haven currencies rallying such as the swiss franc and japanese yen. We have the tech firms taking the biggest hit as well with the nasdaq falling 1. 7 . Lets see how things are shaping up for the asian market. S
Appetite for treasuries. Jay powell insists it is not the return of qe. Tension sores in the middle east. Turkey says its forces will move into syria at any moment. Shery lets get you started with a check of the markets. U. S. Futures under pressure, fell. 1 after the s p 500 for two consecutive sessions. Semiconductors taking the biggest hit, they fell the most in about six weeks. We have trade headlines sparking concern about tensions intensifying between the u. S. And china. That is upsetting some of the comments coming from fed chair powell, who left the door open for rate cuts. The dow lost more than 300 points while the nasdaq fell 1. 7 . Lets see how we are setting up in asia. Sophie australian markets have lower, asx 200 opening snapping a threeday gain. Bhp shares among the biggest laggards. Studyssie dollar trading after overnight gyrations on the trade brinkmanship. Confidence numbers for october are due in a halfhour. Nikkei futures pointing to a lackluster start. South kor
China allows further tarifffree soybeans aheads. Of highlevel negotiations in washington next week. And we see a united front in europe. Joining the United States in blaming iran for last weeks audi attack. President trump is set to deliver his address to the General Assembly today. Morning. Welcome to the european open. The u. S. 10 screen year yield over the past three days. 1. 7 . It trading at watch out for another selloff in treasuries that would spike the yield higher. Remember, we saw on friday the , friday a up to 1. 9 week ago. Take a look at the futures this morning as well. Have gains across the screen. Even dax futures are up 0. 2 . Are going to get numbers in just about an hour and a half from now. Pmik disappointment in yesterday. Investors may be bracing themselves. Nonetheless, buying futures on the dax index. Mark cudmore, Bloomberg Markets life editor markets a live editor. Germany is heading towards recession. Brings, butisk it it is a major drag on the Global Econom