we also had pmi numbers out of china which held up. the official pmi number held up. although the private hsbs dipped down even from the flash. let's get more on the reaction from that. sri has the latest for us out in singapore. sri. >> hi, ross. quite right. there was some dual alty associated with the numbers. but suffice it to say, the official number was constructed and the hsbc number at an eight-month low. it looks as though the market chose to go the with the official reading and that's why the hang seng, taiex was in positive territory. hang seng was the standout with stock-specific stories. there were a lot of buying on the tips of tencent's stocks. bargain hunters coming in and scooping up that beaten down stock. but also there was a lot of demand for the casino chips, as well. so that brought up the broader index for the hang seng. elsewhere, the other top story was the data. the tankan survey coming out of japan was fairley down beat. that's his sentiment on the nikkei. it was the first day of the sales tax increase from 5% to 8% now. the market seems to

we have some german pmi just crossing the bloomberg terminal.is for the april manufacturing figure. pmi at 54.2. 53.8.dian estimate was we will have the aggregate number for the whole of the eurozone in about 40 minutes from now. --were expecting a figure germany, though, much better than expected. the euro is pretty much unchanged. we will keep on top of that story and bring you many breaking news. we are 30 minutes into the trading day so let's see how things are shaping up. the markets are pretty much unchanged despite a pretty disappointing figure from china. -- china may slow down a bit but everything seems in control. outsold all other carmakers for a third straight quarter helped by rising demand in japan and china. gm and volkswagen tied for second place with about 2.4 million sales each. -- the is considering acting president said the move is needed after the discovery of two bodies our possibly killed by prohibition militants. asian stocks erased gains after chinese manufacturing data signals contractions for a close month. this is the

we were hearing about the chinese pmis there. it's developed markets, the u.s., uk and europe. >> the light is on for activity in the pharma seconder. as we mentioned with ab foods and this expansion state side, whether it is organic growth or through an acquisition, ceos are going after growth. this tells you that the stock market has to trade higher from here, doesn't it? >> i think so. historically, companies have been getting share buy backs. a lot of that is because they are not convinced a recovery is coming through. now would be a good time to do m & a, capex and to expand overseas. it shows confidence coming through. >> you talk about the brutal sector stock, the rotation out there which we'll come to in just a little bit. you're staying with us for the show. >>> ericsson disappoints investors with first quarter numbers, suffering from weak demand in north america and japan. we'll cross over to stockholm to speak to the ceo on a first on cnbc. >>> we'll cross out to japan later on. >>> plus, could the bank of england's po

we should see composite pmis tick higher.hey were slightly lower from the flash of german pmis weaker than the month of march. the central pmis continue to improve. this is on the composite number this morning. the ftse mib is up 0.4 had%. we are flat for the ftse 100. now, at the same time, growth in china's services sector may have slowed slightly in march. but the sector is a bright spot for the world's second biggest economy. because while the services pmi dipped to 43.5, the level is the dividing point between contraction and expansion. beijing has stepped up at the stumbling economy. the state council says it's ramping up in railways and housing. this as china gives small businesses a tax break. eunice yoon has more details for us from beijing. >> beijing announced a new mini stimulus to help support the slowing economy. the measurements are in line with its reform goal. the country is spending billions on railways to improve access to areas in the rural part of the economy. and it's offering tax relief to small busines

the fourth month of contraction, according to the flash pmi number.omics gauge and it came in at a rating of 48.3. that is slightly better than the month before when the reading was 48. it demonstrates stabilization in chinese manufacturing consistent with the slowdown that continues in that country. others are more cautious saying this shows a continued deceleration trend because any reading below 50 indicates contraction. anything above 50 indicates expansion. the chinese government has recently been very clear in rolling out some targeted stimulus measures to tackle the slowdown. of it.facturing is part they have unveiled additional rail spending. the question is what will come next? toestors today reacting stocks in china and are trading generally lower on this news. >> thanks. the first get readings of services and manufacturing activity for germany and the eurozone later. we will take a look at the numbers and what they will mean for the ecb and any stimulus plans they might have. >> it is another part of the jigsaw. it is the survey data they a

spanishe getting the manufacturing pmi, the games in spain, and through.the 2.8 is the rating we are getting debt 53.8 is the rating we are getting ahead of -- 5 is3.8 the rating we are getting ahead of estimates. >> great restructuring. and i do think also that the refinancing cost changer medically down and this is a clear push for the economic andress free -- periphery it is not surprising that pmi is coming down. but you are invested and some european banks. you like some european banks. released,he data is as a quality test, it might be too late. i do think again that european banks, select the names, a really great chance to perform as they are already performed. i would like to say that it is an area you have to look over. >> stay with us. we will tell but the technology sector. .witter is wrapping up they are buying say u.k. sync. to tell us what the acquisitions will add, here is caroline hyde. we are not allowed to just do one thing, we have to do about two things. first this about the second screen phenomenon. -- >> and this is about the second

pmi, if you couldn't put down 20%, you pay a little bit more insurance.hat and, when it goes away? >> well private mortgage insurance, like you said, is to compensate the bank for taking on additional risk. and it is supposed to go away automatically when your loan-to-value ratio hits 78%. the bank will give you that date. >> they don't do that. the thing is, if you're making extra mortgage payment or price of your home is rising in value you might fall through the threshold so you don't pay pmi sooner. you want to he will it bank, do i really still owe pmi? here is appraisal. my home rose in value. i want that taken off. keep in mind, pmi be 1.5% of the loin that could easily ad up to hundreds of dollars. gerri: people pay that for years. it is up to you to tell the bank. check the loan's resell date? >> that is the reset date. this is the loan, if you have an adjustable rate mortgage. gerri: oh, when it resets. oh okay. >> switches from fixed to variable and adjustable rate mortgages are making a come back especially since the recession. we're in enviro

china's pmi fell to the lowest level since july.ry in europe where manufacturing hovering near a three-year high. german payrolls expected. and japan a new sales tax. intended to lower the extreme government that. is someers, i manufacturing as well as construction spending. throughout the day, the latest auto sales figures. >> there is a ton of stuff. >

pmi and the friday jobs report become very important. >> talk to me a little bit about &a in europe.t there is deal after deal. we have got pharma deals, industrial deals. is this the beginning of a bigger cycle? m&a cycle iss, the catching up. the pharma sector is focused as we have seen. has a very good run and you see a correction. you are talking about pharma comingstocks which are into new age drugs. people who suffered from leukemia a few years back had a survival rate of one third. now it is 90%. you are talking about new age .rugs you will see a lot of these things happening. manager,investment maybe you have some exposure to glaxo, whatever. do you begin to eat say to yourself, if i haven't got exposure in these other names, i should begin to add that into the portfolio? >> we have investments in novartis. a balance between biotech and old name for a companies. that is how i manage portfolios. m&a in europe is also going to catch up. you are going to see not very strong gdp growth or a lack of growth that we have seen. you will see companies merging together to increase their

scheduled release of the flash manufacturing pmi number from hsbc, the private forecaster and for all intents and purposes, luis, l louise, we are looking at levels below 50, whether it stays below 50 or drops precipitously below 48 is the big question, and if it does signal a sharper decline in economic activity, that could be negative for asian equities. shanghai composite clawing back some of the losses 2,072. dollar weakening against its japanese counterpart. so a stronger yen doesn't body well for the exporters and by implication the equities market. we're coming off from this two-week high we saw on monday. residual caution as we hit the full stride in japanese corporate earnings in the next couple of weeks. be watching that as an indicator and as a prism to view its success or failure if the case may be through. elsewhere, broad consolidation in some markets. i want to point out the -- there's a sense it could be hotter than expected. >>> back to our top story, astrazeneca shares have been soaring in london on reports of an informal takeover offer from pfizer. cnbc understands

the construction pmi is coming out around 28 minutes time. on the currency markets, the yen has been down to a one-week low. we've been down at 103.93. stocks are up. the yen had been benefiting from safe haven flows. plus there's mounting speculation the bank of japan is going to act at some point post sales tax hike, as well. it has been up at these four-month highs of 93.10 on hopes of more chinese stimulus. euro/dollar, 1.37 was the one-month low we hit on friday. we've been looking to see if we get anything out of the ecb tomorrow. that's where we stand right now in trade in europe. what about the session in asia? sri has the update for us out of singapore. hey, sri. hello, ross. let me pick up on what you were talking about in regards to the japanese currency. that weaker yen against the dollar, certainly constructive for the equities market helping the exporters and helping boost the nikkei. we're up by 11%. but we were up much higher during the trading session by almost 1.7%. but a little bit of giveback towards the close. but still,

we have the chinese pmi out overnight.xpected, so we're not seeing crude moving as low as it could do really, given that number. we have the u.s. number coming out in a bit. if we see a weak number there, we could see crude sell off again. >> is that the most interesting part of energy? should we be watching natural gas? >> they're all interesting, joe. natural gas is a fascinating story as well, just because storage levels are half what they were last year. and we've come through the coldest winter since the '70s. and so, there's really a situation natural gas we haven't seen for many a year. it's going to be interesting to see if storage refills and so natural gas is an interesting story more than crude at the moment, given that range bound property of crude. >> hey, matt, it's rebecca patterson. >> hey. >> with that storage issue for natural gas, are we going to be able to get the supplies up enough to be ready for the summer season? >> we're going to see storage being refilled a decent clip. just because we'll see prod

stocks opened lower today get published in the good economic news out of china the manufacturing pmi the remaining territory consistent with contractions ah that's one continued later on in the day always weak economic news here in the us as new home sales fell to the lowest level since july of last year. as a result stocks closed down on the day of the snp at five hundred was down about two tenths of a percentage point of the del slightly less at the just one tenth of a percentage point hike in the ongoing theme of the sharper declines in the nasdaq continued with that index off about eight tenths of a percentage point i know there's a couple of reasons why we should discount this why didn't buy new home sales as i'd mentioned that the sales series was down about fifteen percent in the months that followed a five percent decline in february as well however this is the low season for housing and we have to focus on housing metrics in the spring buying season. as you may be aware of the whether in the us this winter has been extremely severe and long and cold in the wintertime how we

google and pmi on wednesday. ge and union pacific on thursday. traders are struggling to fine conviction to either buy or sell this market. earnings will be a big part of the decision. >> at the end of the day earnings is what counts. this isn't a stop market. we need to focus on what the companies numbers are but more importantly what is their guidance looking forward and how are they staying in the economy. >> reporter: concerns are growing where the market peeked. earnings reports are seen as a major catalyst to it is new record highs for stocks or give trade ears reason to sell sean lock in profit. for "nightly business report" i'm dominic chu. >>> even though stocks rallied today there's a lively debate between the bulls and bears on wall street and tonight we'll hear from both sides. michael farr, president of farr miller in is washington and bear is barry james. gentlemen, welcome to you both. let me begin with barry. tell us, make a case for why you're not so bullish. why are you pessimistic on the markets right now? >> it's just a matter

we're going to get our own a manufacturing pmi.ore the bell, waiting for png, six flags, boeing, and delta. >> busy day. president obama beginning his four nation tour of asia. the nfl is releasing the 2014 schedule. that will be tonight at 8:00. scarlet, what do you have for company news? >> the maker of botox is adopting -- against a takeover gallon pharmaceuticals. pershing square has acquired a 9.7% share state. they have made a $1 million paper profit. jetblue no longer union free. they have voted to join in the pilots association. the union won the support of 70% of jetblue's pilots. investors did not like the move. a prediction of massive job cuts at barclays. it could slash 7500 jobs. about 5000 of the job losses may come from the fixed division. that is today's company news. it still gives pause -- the president of the united states will be greeted in tokyo by the imperial family at a state dinner. we will look for that in the coming days. margaret, what is the goal of the president? what is the number one goal as he comes

pmi services due out. sorry, michigan. >> stocks to watch? >> deutsche bank.thing. have they got enough capital and do they need more? how much more do they need to raise? i spoke with some of the key investors, and there was a bit of a concern. his stop fairly? doing quite well. first-quarter revenue. and then home appliances. electrolux.looks -- nothing for the -- but the best for the boss. >> are you electrolux? >> i am for eeg. pulling myself back. bulldogs, backwards bowling. i don't pick ever seen hotshots quite like that. >> what was the underlying message? >> recovery is coming in europe. sound the alarm bell. they said there would be a slight positive demand increase in europe. i counted up three percent. . lost you somewhere >> be bulldogs. thanks,, manus. is optimistic on europe. increasing the forecast for european demand. we will have more on that. stay with us. ♪ >> welcome back, this is countdown. we are seven minutes away from the opening. let's have a chat. michael, good to see you. >> good morning, mark. sales's start with the -- narrowly bea

pmi for very -- various eurozone countries.rovement in some of the areas that had been the worst performing areas. or spain, multi-month, in some cases multiyear highs. france also added 33 month high. you have that as a bright spot. you also have unemployment numbers that are still not great, particularly the new look in the pockets. overall euro area improvement, 11.9% among which was better than economists estimated. you still have the divergence between the likes of italy where unemployment is still at 13% and germany under seven. we have had a lot of renewed interest in europe over the past year. you still have the issue of there are areas that continue to struggle, italy and greece as well. >> where do you buy then? had to concentrate once again in the core countries. if you look at the eurozone and the aggregate, clearly it is not robust but it is a recovery. last year shrank 5.4% in terms of economic growth. the eu estimates one point two percent growth. you also have a central bank that remains very accommodative, and

surprising in a number of rescue peacekeeping and escort missions around the world when she turned to the pmi navy and its role in global norm coleman its maritime operations a a ay on the soup lines on into three zones. total colors are bold and honest emotion is a working round the clock sitting on the sign of the mason play. the mpv is amanda vanstone has it been two weeks hunting and deceptive conduct including critical to its stillness can dance and minds of the single most publicly. my chinese naval ships involved in this action. such but what makes present is the largest amount of operation ever carried out maybe it is fully tested our abilities to this fast response and strategic protection. oh by the many to read. wash and use as coach of ships carrying chemical weapons among chewing away from sydney. he's the best time of the chinese navy has been involved in a torrent of nationhood and promotion regional stability. it is obviously our wonderful ship a mother an excellent stayed strong leadership. all the reflection of china's strong commitment to peace and security and to play an i

her son explains some of the factors that are helping to push stocks higher official manufacturing pmi numbers from china aged up white be seize private survey showed a contraction either way it is evidence of crawled all over the pitch and esteem in this epic boss that his dovish comments from the us fed also the fact that in all those skills have helped push up the hang seng twenty oh one percent gain although the h share index is trading flat casino stocks galaxy entertainment incense china are sorting between five and six percent on expectations of good earnings and invest as i know comes down to the venue the top of march. next all things and is also nearly full post and energy stocks the milk has rebounded off to yesterday's slide on a drop in its net profits but no such luck for china merchants holdings hahas had it by around five point five percent due to its planned sale of two billion dollars of convertible securities mainland banks such as china construction bank and by cbc are also driving the market and so is that it won't stop china will buy it. we use property prices in

a: 15, adp employment, a: 30, personal consumption and gdp. 9:45, chicago pmi,

when you haven't mentioned was chinese pmi. i am much more relaxed about u.s. pmi and jobs numbers.e the jobs numbers will go through the 200,000 mark. the fed meeting i think we'll pass off with another slice of tapering. tapering is taking the speed out of the market. that is why rk levels have been kind of flat whereas last year they were rising more steadily. i think we are not going to get a positive surprise. >> an increase in euro zone cpi, does that allow mario draghi and his colleagues further room to hold off on implementing further policy measures? >> i think he is in a bind. qe, need a an act data crisis. they need probably weaker inflation to do qe. if there is a stabilization in inflation, it will give them the couple of months that they need to prepare qe. i think qe in europe will come towards the end of this year. >> michael, thank you very much. >> just had some breaking news from pfizer camper earning -- confirming it is interested in the astrazeneca takeover. a successful deal would be one of the biggest in the industry. joins us for more. good to see you. we cha

china's pmi fell to the lowest level since july. very different story in europe where manufacturing hovering near a three-year high. german payrolls expected. and japan a new sales tax. intended to lower the extreme government that. is someers, i manufacturing as well as construction spending. throughout the day, the latest auto sales figures. >> there is a ton of stuff. >> building to the all-important -- all-important unemployment number. >> only one to speak up, apollo education after the market. one final note, this is for you. do you know who is going to the white house today? the red sox. their gameees begin -- season, to. >> they have presidential support. stocks, bonds, currencies and commodities to get your second order beginning. what a market day yesterday. s&p futures continue to fall. does not do much. hydrocarbons still elevated. the fix nicely below 1400, showing the power in the markets. continues. a stronger ruble and gold. story under $1300. the king at the dow. up 14 months. a certain character to it. the blue chi

i will talk to you a little bit more. 1.3766.lar, you have pmi a little later on today. what am i talking about? it is the ecb. back to you. >> manus cranny with the latest on the market. joining us for more is the chief investment officer of rmg wealth management. he helps oversee $100 million of assets. great to have you on the program. give us a sense of china. this seems to me one of the biggest stories today. we have the ecb, the u.s. china is now stimulating the economy. they are starting to realize they could not hit that 7.5% growth target. seen is as we have slowing down much faster than they would have thought. what can they do about it? they had an investment binge the last six or seven years. stimulus, just trying to keep growth above 7%. >> are these worrying signs? it means they are not sure about that target. before it seemed sure that they were going to hit that 75 -- 7.5% target. >> we have to say they will meet their target. in terms of the underlying story, we are worried that china is one of the bigger risks to global markets today. essentially, a hug

relaxed than last year and the overall demostic demand seems to have stabilized if you look at the pmi figures, i'm talking about official one that was released last time. that all points to a stabilization of the domestic economy and also you look at the retail sales figure released today, 12.2% is a decent number. it's also the overall plan for the chinese government to go for a rebalancing of the entire structure. >> wage growth continues to outstrip output growth. does that mean the labor market is still healthy? that would be of some soothe be comfort, i imagine. >> i believe so. and this is actually one of the major elements for the chinese policymakers to boost consumption. they try to uplift and upgrade earnings figures. many of the cities we saw has increased a minimum wage that's been benchmarked to the average wage level of that city in that location. i believe this is a healthy development of china, because china is no longer low cost economy relying on cheap labor intensive industry. we have seen many manufacturers are moving out from china if they want to produce toys and

and speaking of which, speaking of data, rather, we'll have on thursday the official pmi numbers from if it does slip further below 50, then we could see some more negativity in some of these equity markets. having said that, a lot of the bad news has been factored in, hasn't it? back to you, karen. >> sri, thank you very much for that. we have been following the comments and we are expecting to hear fresh sanctions today from president obama. interesting comments to obama saying he'll mobilize european countries, many skeptical about taking action against russia to impose sanctions over moscow for the ukrainian crisis. we'll see what the sanctions are as the question mark for today. >>> let's take a look at some of the earnings news out driving some of the trades. investors are cheering german drugmaker bayer after a strong set of first quarter numbers. underlying profit rose more than 11% in a period that was thanks to a strong performance. bayer also enjoyed a strong outcome in the plastics division as they trade higher in germany today. >>> a different side for halcom part of a bi

that's when we get the april official pmi from china. markets arguably are going to be something in a holding pattern until then. tomorrow, getting back to japan, the markets will be re-opening and also we have the bank of japan policy meeting, the policy review. no surprises there although they will be releasing their economic projections. that should be something of an asset test for abonomics. >> i don't know what botox is. i don't know what that would be used for. from sri jegarajah, thank you. >>> deutsche bank has been telling investors it's focusing on strengthening its capital base. more on the details for us. what's the reaction from investors, annette toa? >> shares are up by 2%. that was widely expected. the numbers were better than expected, the margin so important, trading within investment banking came in more than expected. also better than a lot of their competitors. deutsche bank wants to be one of the top three investment banks also in the united states. there's a huge competition there. so in general, what they're sayi

recovery story, but for now, we are not seeing the spinoff coming through in some of the pmi numbershe first half of this year, the asian pmi numbers are still going to look fairly sluggish, close to 50%. strongt really expect a recovery story, but hopefully by the second half of this year, you will see some of the positive spinoff coming from the developed economies, the stronger recovery story. expect to see from the central bank as a result of this first quarter gdp figure? gdp numbert quarter is a bit slower than expected, but on the flipside, inflation is not really a concern at this juncture. in fact, the mes actually revised down the full-year headline gdp -- the headline cpi inflation forecast from 2% down to 1%-1.5%. this is attributed -- i think the asset inflation story in singapore possibly has tempered by all the measures put in place. the sin dollar should continue a solid place. it is going to be a fairly stable range. this is predicated on the fact that the dollar continues to stabilize on the back of qe tapering. we have seen the dollar weakened somewhat on the back

we've seen quite strong pmis recently. that's encouraging and crucial to earnings is margins.s that margins are under threat, particularly now that unemployment still remains stubbornly high and by our estimates, margins don't get significantly squeezed until unemployment falls to 6%. >> you're seeing some of the value play, the biotech stocks losing ground, particularly in the last few days. do you expect this to continue or is this a temporary blip? >> there's going to be increased nervousness. certainly in the tech business there seems to be very nervousness. the downgrades have been around 7%. there's some real concern there. >> this divergence between some of the old tech names. >> this is really important. what we've seen in companies that reported in the interim, companies like micron and oracle highlight this new versus old tech. oracle is much more exposed to the desktop pc market. micron had strong earnings results. i think that highlights this important divergence within tech. it's about being selective in tech. >> the semiconductors have done it great. the philadel

we'll see ism manufacturing today as well as auto sales and europe's off to a pretty good start as the pmisere not bad especially in france, ireland and spain. the roadmap goes like this -- >> gm motors ceo mary barra on the hill to answer questions surrounding the company's controversial ignition switch recall. >>> the s&p and nasdaq looking to start down the road to a sixth consecutive gain as we head into the second quarter. the current five-quarter winning streak last accomplished way back in 2007. >>> activist investor starboard redoubling charges that darden's planned spinoff of red lobster is designed to benefit management over shareholders. >>> if you see something fast, say something fast. fbi launching an investigation, actually, it has launched an investigation already. we only learned about it, that it is looking in to high frequency trading. interesting how many stories have bubbled up on this suddenly. >> if we can get mary barra to talk about it, we'll have a collision of worlds collide. >> she'll have enough on her plate. >> oh, my, this is big. >> gm ceo mary barra will be

pmi numbers are coming out from various parts of the lows -- the eurozone.the picture being -- what is the picture being painted? disinflation but the manufacturing numbers and guidance around manufacturing in the eurozone, that is being upgraded. we are seeing the sentiment indicators moving in the right direction. what do the services side of things tell us? >> they are better than we were expecting. greece is falling back into contraction. we are in growth territory. that shows us a lot about how much more optimistic the manufacturers are. we can get positive numbers and gross numbers in both sectors that has to be positive going forward. we are not getting too carried away with the eurozone. >> thank you for joining us. " is next.ve reported a loss. also keeping an i on -- an eye on a new ipo. that will do it for "countdown." ♪ >> welcome to "on the move." i am francine lacqua at bloomberg european headquarters in london. we are just moments away from the start of european trading. our markets team has everything covered from companies to currencies. her

bad pmi numbers and bad chinese numbers coming last week early. then the market lost its mind with the five-year auction in greece at 4.95%. maybe eight times oversubscribed. that is when i think the market really lost its bottle and we started to fall a bit and we haven't really gotten our feet since. we'll continue to trade like this, looking for a reason to go lower just like last year we were looking for a reason to go higher. melissa: okay, but scott, i understand that theme overall, right now it looks like the dow has turned around. do you know what is behind this move? >> well, because, this is going to keep happening, all right? but the trend is going to be to the downside. we're going to have more money come in because we've got a ton of cash on the sidelines but ultimately we're going to see either the economy catch up to asset prices or asset prices come down to the economy. warren buffett's barometer is total market cap versus gdp. we need to see some growth to continue to support equity prices. that's it. we might get it. a lot of fol

pmi saying we should cut salaries? that public servants and police and firefighters shouldn't get -- no. i am not saying that. but you are going to get screwed by their pensions because under california law in 1999 gray davis and the liberal democrats thought that the economy was booming so they decided to add six new benefits to these defined benefit plans and created something that allows public safety workers to retire at 50 or 55 at up to 90% of their salary and when you combine that with the actuarial tables and the fact when i went there life expectancy was maybe 268 or 72 but today life expectancy is way extended because we have all these great medical achievements and people are living healthier. you could have a situation where a fire fighter might retire at age 55. look at the guy who got the $350,000 salary and you do the math. give that person 90% of that because it is based on a mathematical formula for the last few years and if that person live to 95 that is 45 years drawing a quarter of a million-dollar

pmi continues to be very weak and we still see growth inc. 7.3 or 7.4.es not tell us much about the economy in general. iso not think the gdp number telling us about missions on the ground in china. -- conditions on the ground in china. >> if there is a slowdown, how big of a slowdown is there? they can hold things together. they have a lot of ability to stimulate the economy or loosen up constraints. i am certainly not predict inc. any major financial -- predicting any major financial crash. you will see an economy that continues to slow. longtime margins are being squeezed. the headline number may be at seven percent, but so what? the chinese economy, doing business there is going to remain tough. i do not see that changing for the foreseeable future. x great talking to you. we will take a break. we will be heading back to the beijing auto show to hear from a company that wants to remain in the driving seat when it comes to safety. ♪ >> the beijing auto show is underway. we will check in on the action. stephen engle is standing by for us. steve? sittin

new homes on wednesday, along with pmi.urse the weekly jobless claims towards the very light session in terms of volume and in terms of interest. that should accelerate in terms of interest and volume as we head into the rest of the week. david: lincoln ellis, thank you very much. liz: netflix earnings came out moments ago. not so much the numbers but being said in that report. david: exactly. what is being said is affecting after-hours trading. nicole petallides a six 1/2% jump for netflix. >> pretty amazing this stock moving up not quite 20 bucks but we're seeing the upside as numbers beat the street. let's talk about what they're talking about streaming and subscribers an comcast and the like. streaming members for the latest quarter, 47.84 million. that tops estimates of 46.69 million. they noted the stock is to the upside. also, we talked about the possible pricing changes. we may see that, one to two dollars to the upside. so we may see that for this particular company for the plan. we'll see whether or not they move

and the sense we're getting is the march and april data was better than january -- >> look at chicago pmi today. i didn't go through -- i saw the headlines, that was a blowaway number. >> yeah, some of the things we're seeing, it was hard to shop for cars, harder to make cars. there are two questions you cannot ignore. housing and cap ex. those are two things we'll knee to accelerate if we get to 3. >> doc, i want to hear from you, the theme we've developed is energy. >> yeah. >> if you look at s&p leaders, the stocks that have led, four of the five are energy companies. if you look at the dow, chevron is among the leaders in the best performers in the month of april. is that a theme we can bank on? >> it's a theme you can continue to bank on. i have already banked on that, judge. as you know, in the playbook, one of my top stocks is baker hughes. i believe that will continue. the reason for it is, i believe the president will say ixnay to the xl pipeline, and i don't believe mr. putin will back off and leave ukraine. that means energy will be a focus. how do you play it? >> domestic. >>

pmi, it's better. china's numbers were not as bad as the fear, if you will. i do think you're going continue to see better results out of the autos. we saw some pretty good numbers this morning. i think that's going to translate into better consumer numbers, better housing numbers, confidence in general. i think you want to sewn the si sickly calls and quality. >> i want to call your attention to the news alert on the bottom of our skrocreen. i know this is april fool's day but this does not appear to be a joke. this is from tiger woods' website saying he will miss the masters coming up in a week or so because of nerve surgery. he's had a back problem that has caused him to miss some events most recently the bay hill event which is arnold palmer's tournament in florida. the head of nike golf is going to be on our program later in the hour to discuss exactly what this means to a fwland brand t y relies so heavily on his star power. >>> josh brown, back to the markets here. i mentioned commodities having their best quarter in some 18 months. largely a soft comm

looking at the pmi figures, it would appear the matter is in hand. if that is the case, ok.s pretty dovish. she said, you need us. we are there. unemploymentabout and the experience of unemployment. talking about that is the dumbest thing. ovish thing. facing second quarter earnings. weterms of the macro agenda, have the jobs report of the u.s.. are you expecting the weather affects to actually boost the numbers? surprised at the forecast. the private sector. jobs.onth's was 139,000 they are expecting 193,000 for the month of march. you scratch the back of your head. we have to remember the u.s. is by -- very diverse. temporarilye that unemployment thing. it is not solid. you could lose your job at the drop of a hat during nonfarm payrolls, the last speaker was 175,000. for march, that is very rich if they achieve it. the ecb meetsy, on thursday. are you expecting further action? >> action to the degree that deflation is a big worry. i don't think negative interest rates are on the agenda. overseas bonds are on the agenda. a -- up next. is they will be watching asos as the r

traders are pointing to pmis no worse than feared. auto numbers came out that were pretty darn good. also the hagueover from yesterday's effect with janet yellen in chicago. david: so, john, does all this booed news make you excited or a little nervous? >> i would say we're excited but at the same time we're nervous. because we think, what, to keep this bull market going we think it will be all about revenues, revenues, revenues. and earnings, earnings, earnings. we've seen multiples, race ahead. what we need to see is earnings and revenue catch up. and, to use analogy from the auto industry, you know, there is increased use of turbo chargers and superchargers to power vehicles today. and what we need is something to turbo charge an ideally supercharge revenues. liz: supercharge revenues. listen as we wait on earnings numbers, joel i bring it to you. you're concerned about perhaps putting a cone of safety around portfolios to avoid volatility. we do have the vix at pretty significant lows though, not showing a lot of stress. what type

if you see the pmis go up, you will see them excited about growth going forward. >> and believing itas a bounce-back and it was just the weather or something. >> bingo. if it is not on your radar screen because you are on a rock, get out from under the rock and watch it. >> easter monday was not on my radar. is it 8:30 on wednesday or 10:00? >> actually, i think it's 10:00. >> we'll. thank you, rebecca. >> when we come back, we'll tell you what to expect for the major company that is report. >>> and later is fred davis, the sop of singish/produce earl clyde davis. he started a business with a focus on this. we'll be right back. e financial noise financial noise financial noise financial noise [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration. mfs. we did a 27-point inspection on your chevy,ce, you got new tires and our price match guarantee. who's this little guy? that's birney. o

you have some crucial pmi manufacturing data tomorrow. confidence data on thursday. euro is remaining stubbornly high. >> to the disappointment of companies like phillips. >> it was interesting. the last ecb conference where mario draghi brought up the subject of the euro very are early -- early on in the conference. -- this is not a target for us, it is a consideration but he brought it up early and it is front of mine for the ecb. every chance that maybe not in may, maybe in june we see a cut and the deposit rate. >> does that send the euro lower? >> that is one of the reason why that is the favored tool of choice for easing the ecb. than fullyversial fledged qe which i suspect we will get to later in the year. deposit rate.he >> you expect a continued slowdown but no crisis. >> i do not think so. we are seeing more and more vestiges of the fact that if you feel like turning to perhaps a good old capitalist solution to the property problem. if there is a property problem. this is largely centered in the major cities. more and more. >> thank you very much. joining u

pmi. have hsbc the last rating was 48. we could get some good news on that front later this week.oining us from singapore this morning, thank you. why this japanese shipping company has had one of its vessels seized by china. it is a story going back more than 80 years. ♪ >> for a quick look at the major events, we will be keeping an ion for you this week -- >> after a three-day weekend, u.s. stocks will kick back into high gear on monday beginning with netflix. company topect the report first-quarter revenue of $1.27 million. theme continues into tuesday with mcdonald's, at&t, and comcast. tuesday, new data on u.s. existing home sales. theomist expect to see sales of previously owned homes to hold close to the levels of july 2012. wednesday withn the world's largest company by market value and the world's largest social media network both reporting profits. apple is likely to report fiscal second-quarter net income declined as sales fell flat amidst stiffer competition. facebook is expected to announce earnings per share increased in the first quarter on greater mobile advertisin

we have pmis today out of the uk. they were a touch lower, the composite number 58.1. march 58.6. but it's still point quarter on quarter growth of .7%. a sweet spot for the bank of england. they have lower inflation. the xetra dax and cac 40 are fairley flat. 53.1, the flash is 53.2. germany, a little slower than it was for france fairley stronger. the important thing about that pmi number, though, is it speeds into the inflation story because firms are saying the best activity for three years but only at the expense of slashing pric prices. it all feeds back into what's going on with inflation. the ftse up 0.5%. down in terms of sectors in europe. this is where we currently are. there we go. the banks up 0.3%. insurance up 0.2%. retailers fairley flat at the moment. utahs, basic resources, telecom res taking the weakest point of it, as well. that's where we stand in europe. all eyes on the ecb. we do expect no action, but how dovish will mr. draghi be in his testimony and will that start to take some pressure away from the -- what many regard as an overvalued euro at the moment.

if growth continues to disappoint and we see pmi continue to fall at production the team to weaken, isre is a room of four inches cut -- interest rate cut. week, the spring meeting of the world a bank. russia and ukraine are key right now. it's a china concerned enough to be addressed? >> talking about the risk of chinese hard landing. i think their view was chinese minus the policy had been to chinese policy- had been to accommodating. in the financial sector and problems in the balance sheet. and the leverage in the economy down the road. someat case, there is truth and there are timid. clearly, the risk on the global side. the government has been taking the relatively quake action. they need to stabilize market sentiment and i look for continuing recovery down the road. >> a lot of positive points of view. thank you. show, reportshe of more job losses. we'll take a closer look when "on the move" returns. ♪ >> a very good morning to you. i am john dawson. we are "on the move." when the euro stress has gone up too far, a new warning from the ecb. why the electronic maker is taking a h

today it is about the emi -- pmi.s here to tell us what we need to know about today's data. >> tortured by macroeconomics this week. these are the second and final readings. the flash estimates were strong, the strongest in three years. france was the real eye popper. that is expected to be confirmed. the shape of the data can growth. it looks to be a rubber stamp. is it a jobless recovery? you are looking at record levels of employment, 12%. if you look at italy, 12.9%, the highest since 1977. will the reforms begin to bite? you just heard the whole great debate. there is a lifetime between what happens in terms of wages and impact in the pocket. germany, we are expecting a drop for the fourth month in a row. have building unemployment stories. >> what clues will this give us as to how much slack or spare capacity there is in the eurozone? this is something a lot of economists are saying there is a focus on. >> i think slack is the new unemployment target. you have yellen, carney. yellen is talking about slack. there

a: 15, adp employment, a: 30, personal consumption and gdp. 2:00 the fed pmi, rate decision. >> i was talking to michael mckee, the gdp report dovetailed with the fed. interesting as we get to the jobs report on friday. >> big economic day. earnings before the bell, time warner. after the bell we have yelped and carlyle. dothere's the brief, let me the data check before we get to a busy front page. features negative two, -- future nothing, nymex crude 100.34, douth. -- south. 1300, renminbi currency,er chinese exporting deflation out of china -- something to watch into may. an incredibly busy morning. look at the front pages. here's scarlet fu. top our front page. prosecutors considering charges against credit suisse and bnp paribas according to people familiar with the situation. credit suisse big investigated over whether it helped americans as a taxes. prosecutors trying to figure out whether bnp broke the law by doing business with iran, cuba, sudan, countries we have sanctions with. >> these are criminal. >> it could result in the first guilty plea from a major bank in 20 years.

particularly if you look at our production, the pmi numbers.o see a revival in private consumption demand, revival in durable goods, for that, we need a strong clinical mandate and something to tell people things are going to be ok and you can basically start planning ahead for the future. >> one thing that has been conspicuous is the absence of any real reform agenda being published by the bjp, real solid policy initiatives. does that worry you? >> yes and no. we have --sense that i mean, this is something that is expected of a lyrical party to publish, a written document with a clear view around what is it they want to implement. but in terms of actually getting the message out, i mean the high thesterial candidate from bjp has been campaigning for a long time in which he has spelled out his vision. he essentially looking to privatize investment, infrastructure investment. he is looking to focus on urbanization as a source of road. about also spoken boosting productivity in the manufacturing and the agricultural. something, i mean, in my own

economic data in the u.s., 9:45, pmi index.e are watching the university of michigan confidence number. colgate, palmolive, burger king, and ford just crossed the tape. in terms ofs first-quarter profit. adjusted earnings per share of $.25, analysts were looking for $.31. automotive revenue later than expected, under $34 billion. analysts were looking for 3 $34.2 billion. by severalimpacted factors not representative of the underlying business. maybe there is some noise like gm. >> outside the u.s., losses will continue to grow in south america as well. asia-pacific operations had a record pretax profit in the period. north american operating margin, 7.3%. ford was leading the way among u.s. carmakers. >> interesting how visible mr. feels is. -- mr. fields is. >> speculated to succeed out mulally. >> exceeds its pretax profit guides. >> it will make it up in the second half of the year. >> they took a ride off for the four to reno in the 1970 -- for the ford turino in 1970 where i took a bottle of champagne all over my father's

europe in the red despite the strongest flash pmi in 35 months. our road map results with boeing, more planes delivered while cost cutting is paying off. >> a tale of two markets. u.s. results disappoint. weather had an impact. what about the waffle taco? >> gilead beats, amgen dropping after the steep sell-off in biotech stocks, is the worst over or just beginning? >> is it legal? it is. is it front running some we're going to hear from bill ackman on his host still takeover tactic teaming up with valeant to bid for allergan. exclusive comment from activist carl icahn. >> lot of numbers. boeing reporting earnings $1.76 did beat estimates helped by an improvement in profit margins but when raising their full year earnings guidance and procter & gamble reporting a quarterly earnings beat slight revenue miss. the cfo on "squawk box" this morning. >> global growth in our product categories is about 3%. we maintain mark share in the quarter we had and consumers around the world remain very responsive to value creative innovation like laundry products,