Listen: Bloomberg, US And China discussed on Bloomberg Daybreak
"Nymex is down eight tenths percent or fifty one dollars five cents a barrel returning to equity markets now while European shares are gaining US. Stock futures are falling. After yesterday's volatile session. Saw the S and P five hundred plummet as much as two point nine percent before ending the day nearly flat. It was the biggest swing in stocks since two thousand ten Michael Purvis is chief global strategist for Weeden and company. You're seeing a lot of concern, but not panic in the options market, what we may be in for is more of a horizontal correction than your price based correction. The market can correct. A couple of different ways. One is a huge price plunge. Another one is sort of a range-bound choppy condition over the course of several months where ultimately these same technical outcome is achieved, but it's done two different ways. Right now Europe. Stocks six hundred is up one point four percent after yesterday's three percent decline s and p futures right now are down nearly three tenths percent. And we get the next catalyst for stocks today at eight thirty AM, Wall Street time and the government issues. The November jobs report Michael Mckee has more from the Bloomberg ninety nine one newsroom in Washington. Markets already jittery about the economic outlook had fresh reason to be concerned after the ADP payrolls report suggested possible weakness in the November numbers, but ADP is constructed with a different methodology and isn't a good predictor for the government payroll report and really for the fed in Wall Street. It's not about how many jobs were created. But how? How much those with jobs are paid average hourly earnings continue to be the focus with the central Bank and investors on inflation watch the rate of annual earnings gains rose over three percent last month the highest since two thousand nine in Washington. Michael Mckee, Bloomberg daybreak, Mike. Thanks economists forecast. A gain of one hundred ninety eight thousand jobs for November with the unemployment rate holding steady at three point seven percent. The employment rate, I should say Michelle Meyer is head of US economics for Bank of America, Merrill, Lynch. If we start to slip allow one hundred and fifty thousand or the unemployment rate ticks up given the sentiment in the markets right now, and given how down the investors are I think they'd be concerned about that. Especially since initial jobless claims to start up. So there's a lot of people searching for how things can go wrong right now. And if the data allows them to fulfill that expectation they'll take notice of that Jerome Powell remains bullish on the economy in remarks at a housing conference yesterday. The Federal Reserve chairman called the labor market very strong in Asia today. Stocks steadied. After yesterday's steep decline with most equity averages posting modest gains. Bloomberg's Yvonne man joins us for details. From Hong Kong good morning. Good morning. Karen, Nathan some signs of a rebound. What was a pretty rough week in Asia. That Jay Powell's bullish comments on the economy helps dos. Client back from losses. Japan. Two to five ended the day of zero point eight percent tech. Stocks rebounded out of the slide over hallways. CFO rest. China though was pretty much flag. In Hong Kong. I'm Yvonne, man. Bloomberg daybreak vine. Thank you. China is calling the arrest of wa wa chief financial officer Wong show. Among despicable at a hearing in Vancouver today. They'll be the first of several legal steps before she can be sent to stand trial in the US. Meanwhile, the White House is saying President Trump had no prior knowledge of the arrests when he met with president Xi on Saturday. Bloomberg's Bob moon reports as he sat down to dinner with his Chinese counterpart last weekend and hopes for defusing the trade war between the two nations. President Trump wasn't aware. According to. A White House official that the US had requested the hallway executives extradition from Canada. But his national security adviser John Bolton confirms to National Public Radio that he did know at the time Canada had already taken into custody. I knew in advance. But this is something that's. We get from the Justice department, and and these kinds of things happen with some frequency. We certainly don't inform the president on every one of China's foreign ministry is demanding the executive be released Bob moon, Bloomberg daybreak. All right about thank you, tesla replacing its general counsel legal chief, Tom Marrone is leaving the company of being replaced by Dane, but swing kiss who will oversee Tesla's legal and government relations team report directly to Elon Musk. Shares of tesla are up two percent in early trading. All right. Thank you.."