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 more and mo

indices but a week services report released thursday caused anxiety among traders the institute for supply management said its non-manufacturing index slipped to a 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. he 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 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 this 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. we were waiting for the jobs report friday morning but the bets on wall street have increased the bets actually stand right now at about 90 percent t

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 supply managementanufacturing 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? mount davi

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

get to this level here we are at the end of the week that's exactly what happened the institute for supply managementts 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. liesman as

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 supply managementex 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 industrial city,