indices but a week services report released thursday sparked anxiety among traders the institute for supply management and association of purchasing managers said its non-manufacturing index slipped 2 or 3 year low more unwelcome news for investors given that the services sector accounts for more than 2 thirds of the u.s. economy stocks later recovered on hopes that signs of an economic slowdown would trigger more stimulus from the us federal reserve. yeah joins us now from wall street yes are the markets right to bet on further rate cuts. the likelihood of another rate cut has certainly increased at the last fed meeting in september the federal reserve said on one side that there is no pre-set course for further rate cuts but on the other side the federal reserve also said they will follow the situation and then act accordingly and knowledge just this week we got those weak numbers from the service industry on thursday we got the week numbers on tuesday even weaker numbers from the manufacturing area now we are waiting for the jobs report friday morning but the bets on wall street have inc

manufacturing has taken a hit the latest survey of the sector showed a tumble to a 10 year low the institute for supply management purchasing managers index fell for the 6th straight month of it a sharp decline in exports and slowing consumer spending the contraction in the manufacturing sector is now fanning fears of a recession in the u.s. . let's cross over to us and always to haro on wall st. louis spit of an irony there the whole point of the trade war is to protect u.s. industries from foreign dominance now that that hasn't worked are we going to see a change of course. you never know with trumpet ministration you're nobody is all going to be tensions not only with china we've had the e.u. and also we've held the u.s. m.c.a. to replace not top group in congress yet the manufacturers farmers retailers and other industries all suffering through and also do consumers say keeping the economy good girls alive and unemployment rates are low will be crucial in the next presidential election so trump my don't rethink is a strategy especially at a time that the impeachment investigation show will make it

the institute for supply of management's purchasing managers index fell for the 6 straight months amid a sharp decline in exports and slowing consumer spending the contraction in the manufacturing sector is now fanning fears of a recession in the u.s. . let's cross over to the hearo on wall street. spit of an irony there the whole point of the trade war is to protect u.s. industry from foreign dominance now that that hasn't worked are we going to see a change of course. you never know with trumpet ministration you know but it is all going to attentions not only with china. e.u. and also without the u.s. m.c.a. to replace not top group in congress yet that manufacturers farmers retailers and other industries all suffering soon also do consumers say keeping the economy good growth alive on unemployment rates are low will be crucial in the next presidential election so trump my debt we think he has a strategy especially at a time between investigations that will make it more and more difficult for him to focus on on pursuing he is a policy agenda in the meantime he will probably keep pres

the ism, institute for supply management, numbers are surveys, we noticed over the years, i have been at this for 35 years, they capture sometimes some sentiment. if there is volatility in market and politics and trade. sometimes that sentiment seeps into data, if you go to august. we had industrial production was up 6/10 of a percent, durable good order up 2/10 of a percent, that is real data, the ism index within down, we had 135 thousand new jobs. and don't forget 46,000 people are on strike. so, the -- what is up rifles, i think tomorrow's numbers will be a little bit better than people think. and i don't believe we're in a recession. elizabeth: by the way, the trump administration will be meeting with china next week. >> right. elizabeth: sector has been growing for -- your point, the president won key manufacturing states like pennsylvania, ohio, michigan, and wisconsin. the factory belt, people say are hurting from the trade war. the best mood elevator is not moptarmop--monetary steroids. it would be a trade deal. >> i agree. but i think that pressure is on china to have the tr

purchasing managers index from the institute for supply management really decelerated sharply.f you jump in with me now, i will show you right here, look at this blue line going from 56.5 all the way down to 52.6. here is the manufacturing pmi. whoa, did it slide a couple of days ago. that unnerved markets around the world. the dividing line between expansion and contraction and i want to show you another thing. typically, this services index tends to rise higher than the manufacturing index, so when it goes to 52 .6, it is a more serious signal. that is one of the things that is important. one of the problems is people are wondering to what extent is not just the trade war damage for manufacturing possibly spreading to services in the broader economy, globally, look what is going on. three major countries. go back to the library with me now and you will see that you have the u.s., china, and germany all below 50 now. of course, china not quite so bad. there's the u.s., but poor germany, last week, that really got the markets going when people saw that. today, once again, bond

that's also when the institute for supply management releases its monthly survey.and september reports showed a contraction in the manufacturing sector. in fact, last month's reading was the weakest since june 2009. economists are worried weakness in the factory sector could spill over into the rest of the economy. you should be mad that this is your daily commute. you should be mad at people who forget they're in public. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today. t-mobile's newest signal reaches farther than ever before... with more engineers, more towers, more coverage. it's a network that gives you... with coverage from big cities, to small towns. introducing t-mobile's 600mhz signal. no signal reaches farther or is more reliable. and it's built 5g ready. saturpain happens. aleve it. aleve is proven stronger and longe

there's concerns about the economy and that is to blame forever the selloff after an institute for supplyt showing manufacturing activity fell last month to the lowest level in a decade. >>> if you're hoping to take a fall or winter vacation, southwest is kicking off another of its annual sales. fares usually tumble during the slower fall and winter months. southwest is adding on with deals today and tomorrow. we researched what their fares may look like. $100 from the bay area to anywhere in california and vegas, and portland. $300 for cross-country trips to atlanta, nashville and baltimore. flights have to be between mid-november and february, and they can't be during the thanksgiving or christmas holidays. >>> happening today, the a's are hoping to keep their playoff dreams alive as they take on the rays in the american league wildcard game tonight. >> pretty exciting. nearly 50,000 people are expected to catch the game at the coliseum. amy hollyfield is there very early. >> it's a big game when they have rally towels. they will hand these out to the fans. another sign it's a big game?

now if you recall, we saw that the real gauge of this, the institute for supply management manufacturing index fell in september to its lowest level since june of 2009. that was the second month of contraction. let's take another temperature gauge where the fed funds futures stand, the odds of whether we will see another rate cut come october 30th when the fed meets again. right now you could call it about a 90% chance that the fed will cut a quarter point october 30th. so with the fed seeing the economy kind of expanding at a slight to moderate pace, and most other indicators looking relatively healthy, why would we need to cut rates in two weeks? guys, we have a december meeting as well. hit me start with john over at the new york stock exchange. i don't know, john if you saw this, it said that the manufacturing slump is not yet spilling over to the services part of the index. things aren't that bad. >> if the beige book is showing that industrials are slowing down as we hammer out a trade deal, that makes sense. and the fed would then want to put housing into high gear. that's somethi

the latest index rating from the institute for supply management is the lowest in more than ten years, in part because of the president's trade war with china. this marks the second consecutive month of contraction. that means shrinking, getting smaller. the numbers paint a drastically different picture than what peter navarro, the white house director of trade and manufacturing policy said on cnbc just one day before. please watch this. >> i don't even know why you're going down this path. this trump economy is strong as a rock. manufacturing is strong as a rock. this fall, book two, separate qualifying stays at choicehotels.com... ...and earn a free night. because when your business is rewarding yourself, our business is you. book direct at choicehotels.com walkabout wednesdays are back! get a sirloin or chicken on the barbie, fries, and a draft beer or coca-cola - all for just $10.99. hurry in! wednesdays are for outback. outback steakhouse. aussie rules. wednesdays are for outback. a lot of folks ask me why their dishwasher doesn't get everything clean. i tell them, it may be your

according to the institute for supply management, it was the lowest level in more than ten years thatorning and blaming it on the tariffs initiated in the trade war with china. taking you live to the big board, the dow just about doubled its loss since the last hour, down over 200 points right now. the nasdaq is slipping as well, back below 8,000 this morning. apple will soon be hit with tariffs even though it's keeping major plants in the u.s. the trump administration rejected apple's request for relief from the 25% tariffs on some components for the mac pro. if company announced they would build the mac pro in austin, texas rather than move overseas. the trump administration turned down the company's request for >>> sohwest pilots say it could be february or march before the airline resumes flights with the 737 max planes, later than projected by southwest or boeing. the pilots say the grounded planes' return will take longer because of the additional pilot training that's needed. boeing expects the planes to be flying again before the end of the year. southwest set a january 5th ta

two days ago, the manufacturing gauge from the institute for supply management, purchasing managers surveye into contractionary territory and that is what has a lot of people worried. we saw the global bond rally continuing and they say it is spreading. many people consider it a sobering signal. paul: kathleen hays, thank you for joining us. still to come, reserve bank of india set for another rate cut in the coming hours. we will preview that decision with nomura later in the show. shery: in the search for returns, our guest chooses equities. the manager of the international equities fund says why they are more interesting than fixed income. this is bloomberg. ♪ shery: this is daybreak asia. i am shery ahn. paul: i am paul allen. dbs group says investors have little choice but to turn to equities. our next guest agrees saying stocks are far more interesting than bonds even though they deliver lower returns. stephen glass is a sydney-based fund manager. thank you for joining us. equities are far more interesting but are they -- it has been a wild ride this week. >> it has been. there is $1

have to get to this level here we are at the end of the week that's exactly what happened the institute for supply out with its nonmanufacturing index at 10:00 a.m. eastern time today. that index measures u.s. services economy and it's expected to come in at 55.3 for the month of september that would be down from 56.4 in august, but still above the level of 50 that separates an expansion from contraction this is really important this time around because earlier this week the ism's manufacturing index came in below 50 that's what triggered the initial market sell off this week so people are going to be watching this number very closely. >> okay. mr. liesman is here. he is in the house on the set with the one and only latest all-america survey i'm selling it here for you. >> i am. i want to give joe an opportunity. >> just a second let me finish -- >> i will not be the same -- >> i look forward to every saturday i love ncaa. i do >> the all-america survey folk uses on how folks are feeling about the economy. it's been a rough week as we all know on the data front tomorrow is the jobs report, and mr.

institution. for 52 years he was the go-to florist. the business made millions supplyinglowers for presidential inaugurations, celebrity events, and the annual rose bowl parade. when jacob died in 2010, his son hank took over the business. it's been a very tough transition. hank has struggled to lead. >> there'll be some growing pains. um... so, well, first of all, i'm on the top, i'm the president, i'm the owner. >> just three years later, revenue is down and those profits have turned into losses. last year maarse generated $3.6 million in revenue but still showed a loss of $20,000. >> between the prices and the disappointing product, i don't know that i would keep coming back. >> to keep the business up and going, hank took a $200,000 loan from his mom and borrowed another $100,000 from the bank. >> i would agree we're not making money. >> right. >> hank hasn't made a profit in three years, and he's $300,000 in debt. that's not a good sign for the 30-plus employees who depend on this company to earn a living. the flower industry generates $6.5 billion a year, and i want

supply nowadays. has been observing this decline for decades when he 1st began working at the institute in the 1970 s. the researchers used to catch insects to feed the birds over the years the number of insects dwindled today there are hardly any. $800.00 are bird populations have declined by about 80 percent across species migratory and resident birds birds the insects and those that he brings in sea. and one major reason is loss of habitat and breeding grounds due to overbuilding habitat destruction the filling of ponds. but another important factor is the loss of food both the loss of seeds and grains and the loss of insects which. page about old often sits at his window and documents the stark decline in bird populations. in the past while herds used to grow amidst the wheat fields their seeds helped nourish birds but those days are long gone hate about old says modern farming practices are to blame it's today's farms are too efficient too antiseptic and their monoculture is he says that's why he's created his own kingdom a lush meadow orchard interspersed with grasses and wild plants that are pa

institution of long-standing plays an important part of any campaign. the product of this manufacturing plant goes far to reducing the supply that has its place in the balance desire. furthermore, such a meal is fore. it delivers home program a dividends which is always in savings and sometimes in cash. the food products is a feature on the program and a fancy which is the assurance against sickness and a food supply for a family of five worth several hundred dollars and money saved is when he made. the little girl with activities as this has family income and safeguards the family health. a well constructed smoke how such as this, makes a good storage place for products that are no danger from freezing these shells show the energetic life or providing the living. the demonstration of the county home demonstration agent. they women of the community are having their work in common while the agent supervise and give instructions in the food method when necessary. there's a simple community where the equipment is available. a neighborhood agent directs the work in the group activity and an exception of well organized. once each week during the season the people gather to have their products cooperat

the sell-off began after the institute of supply management reported a slow down in the u.s. service sector. let's bring in matt eagan lead writer for cnn business. many people saw the lead in manufacturing and many people thought it was isolated. american manufacturing the smaller part of the economy and then this. >> happy friday, guys. we made it through another pretty crazy week. >> almost. >> almost. and, christine, your point is spot on. right. manufacturing we know it's in contraction and that's because of the trade war and this global slow down. and now we're learning that the service sector, restaurants, hotels. that's really the biggest part of the economy. and now it's growing at the weakest pace in three years. employment growth and services is also slowing. that is certainly adding to these concerns that we could be dealing with some sort of severe slow down or maybe even a recession. >> jobs numbers come out in a few hours. what do you expect and what does that tell us? >> investors are on high alert for any manufacturing slow down and really contraction is spreading. certainly anything to do with manufacturing jobs. i

for months. some now red. u.s. manufacturing activity in september fell to its lowest point in a decade, according to the institute of supplyagement index which measures industrial growth. >> president obama said manufacturing jobs are gone. you need a wand, a magic wand. we found the magic wand because they're coming, and they're coming fast. >> reporter: despite promises in industrial belt states that flipped to the president, wisconsin, opinipennsylvania an michigan, all have lost manufacturing jobs since june. marcos, a vice president with the local steel workers union says he'd like to see the president focusing more on his campaign promises. >> we want that focus to be shifted to what we're doing and our wages and what we're doing instead of, you know, other extracurriculars, if you will. >> reporter: corey has worked at wisconsin aluminum foundry for 24 years. he and his wife support six kids. he worries his $21 an hour job would be tough to replace. >> hopefully if the economy is rocking and rolling here to keep the future going. >> you're not feeling that right now? >> it's kind of rocky. >> reporter: in this indus

for a number of ar, and it significantly boosted women's labor supply. if you read it. it laid the groundwork. bye. changing the way family operated by changing the structure of work an institutionand so, you know, i think there it's psycho e -- frequency. in recent years that you would see those effects. >> i think one of the problems is that we all talk about from the perspective of micro economics. which is fine. that's certainly a baseline. we're going to have to do something to help people who face large labor market barriers when the micro economy helped. to help keep them in the job market. >> and things of that nature. >> ok. so let me see if we have time for a few questions from the audience. danny, think i see your hand. >> i want to answer your question about what variables and wage equations you're look at ate. >> turns it that in the u.k. and the u.s. and everyone else. there's one variable that works and nothing else does. the unemployment rate didn't works. it's the thing that drives you six. it's part time for economic reasons over employment. and the reason why it's really quite variable is because it hasn't been reverted in any ountry in the world. the unemploy

the parts of the institution that are admirable and should be studied by people politics of business, again i think your country is short supply of strategic thinking. that is beneficial for anybody to read. earlier i referenced the vitriol in the large portion of the american public shows that maybe not to the extremes of bill mark but shares the viewpoint. if you look at the koch brothers, billionaires, work in the oil industry, try to influence, those three factors are not going to make any american popular. do you think those are factors that they have been vilified in large sections of the country or beyond that? >> it is completed. it is a climate of permanent hostility. >> he is a journalist on the commentator but fully agrees 100%. in the species that cannot survive with little creatures of nuance and parents and physical thinking, that is one reason why when these people are talked about they are just presented, i cannot say how many people are evil. now listen, this organization has had dramatic defects of public policy in the united states and has done it, the book documents crime and in 1996 they intentionally polluted wetlands near the refineries rather than

institute in dublin, california. in may the desperate housewives star blepleading guilty for pay $15,000 to have a procter correct her daughter's s.a.t. scores. inmates have access to books, magazines and supplies for crafts. last spring "gma" spoke to prison expert jennifer meyers about what huffman can expect. >> i like to say respect prison. if you walk in humility it will make your stay much easier. >> reporter: coming up,hor wtif like inside huffman's correctional facility and dan abrams weighs >>> all right. let's look at what's going on with your activity planner. everything is good if you want to be out and about. grab a heavy coat. 60s and 70s for highs this afternoon with increasing clouds. you will need the sunglasses from time to time. it will be a dimmer sun out there. that will hold our temperatures back. let's talk about stepping out right now. we have berkeley, san leandro, mid to upper 40s there. lladatrichmond at 53.t 50. 53 in orinda. 53 in san francisco. 50 in san jose. 51 in pacifica. 52 i fairfield. antioch, 53. brentwood 54. napa is 41. let's look at the peninsula, stuck in the 50s through 9:00. we break to 60 at long at t look at the cloud cover mixing in with our sunshi

institutions and perpetuating violence. human smuggling and trafficking, narcotics extortion and kidnapping. they have little regard for human life. they continually adjust operations and supply chain to avoid detection and intradiction by law enforcement. and like legitimate businesses are quick to take advantage of cheaper transportation and better distribution methods. in many ways they're operating like sophisticated intelligence operations. i want to thank you for the opportunity and also on behalf of the men and women of the department of homeland security, be honored to testify before you today. thank you. >> i thank all the witnesses for their testimony. i remind each member that he or she will have five minutes to question the panel. i now recognize myself for questions. mr. secretary, during your tenure here, were you provided all the resources you needed to do your job? >> i think the department of homeland security has received strong support from congress in a bipartisan fashion. across multiple budget years and multiple administrations. we've used that funding and resources to increase our security effectively across programs from the i.t. side, the intelligence

supply chain. reflect on this for a second. you are highly paid ceo, vaunted american institution and as mister cohen pointed out and i pointed out at the beginning. and you have a $15 million bonus. you say people are held accountable. this gentleman flipped the company after 30 years in the industry because his concerns weren't being addressed but leading us to believe they were significantly addressed. i just don't buy that. i recognize mister mitchell. >> mister garamendi. >> sorry. >> no need. you were carrying on a line of questions i want to pursue. dennis muilenburg, you're the chief executive officer, do you set the pace for the company? do you set the standards to q do you set the purpose and goal of the company? >> that is part of my responsibility. >> so the answer is yes, you do those things. >> yes, sir. >> as the chairman just said that you receive a $30 million renumeration from the company in 2018? in stock etc.? >> i recall my salary was $23 million that year. >> then i suppose this is incorrect, came from the seattle times, says $30 million. you have at least three employees that have left the company. adam dic

instituted supply side incentive free market policies that will make america even greater. stuart: you made quite a difference to the market during this conversation, larry. thank you for. >> my pleasure. stuart: larry kudlow, always appreciate it. let me wrap this up because mr. kudlow had a lot of interesting things to say there, on the basis of the data we now see and looking to the future does not see a recession on the horizon. this is a very important question because a lot of investors have seen a recession on the horizon, bearing in mind all of the things, the indicators which we've seen this week. larry kudlow says in his book, looking at the data, he does not see a recession. furthermore, he thinks that we may pick up the rate of growth at the end of the year. he thinks that housing is a leading indicator and there is some good indications that housing is going to pick up by the end of the year. he suggests, very tentatively that that, along with changes in monetary policy maybe would get us back to 3% growth. that was enough to move the market up. the dow up 200 point at one stage. susan? susan: they also picked up the fact he talked about deputies in the u.