Nasdaq--- Julie (fast)
Japan market--- Sheby (fast)
>> live shot of the sydney opera house on tuesday morning. you’re watching live in hong kong. news corp. takes steps to head off a potential takeover by liberty media. they said last week they plan to increase the rupert murdoch news corp. to 17%. news corp. said it will offer half pryce shares to stockholders. the poison pill that makes it more difficult for outsiders to take control of news corp. away from the murdoch family that it has 30% of the voting rights. it show that is news corp. is widening trade. they’re trying pressure murdoches of selling some cable assets. the nasdaq fell ending the longest winning streak since 1997. take ago look at how the index is closed―the s&p 500 down .10%. the nasdaq closed up .10% from the nasdaq unchanged. julie hyman reports.
>> the s&p 500 snapped its advance in today’s session. it had been on the longest winning streak in seven years. it did decline slightly in today’s session. the dow, however, held on to the gains just barely up almost four points. putting pressure on stocks today, we had some concerns that the fed may raise rates, not only at wednesday’s meeting but again in december when it meets t. price of oil falling today. along with it, energy stocks were on the decline. the biggest drag within the s&p 500. some of the movers there, we saw the valero energy declining in particular. baker hughes and b.j. service and nay boris industries some of the big decliners. natural gas declined today with the declining price of natural gas. the basket of energy stocks falling in today’s session. the biggest decliner, the eoc resource and apache among those movers. pfizer leading those downward after the company said the discussion with regulators about whether to add a stronger warning to the investor pain killing package about a skin reaction that can occur. separately attorney general elliott spitzer asked information about the unapproved drugs for the use. we did have defense stocks performing well in today’s session after a story in “the wall street journal” this morning highlighted that industry saying that defense spending is the fastest growing portion of the u.s. budget under the bush administration. ice up 55% since 2000. lockheed martin, general dynamics, hexcell and precision castparts closing with a high. that’s one of the strong reasons we saw mixed markets because of the oil stocks on one side and the defense on the other. i’m julie hyman, bloomberg news at the new york stock exchange.
>> we’re in tokyo with a look at some of the stocks to watch in japan. good morning, shelby.
>> good morning, we’ll start off with toshiba with news. they say toshiba sued semiconductor for violating patents for flash memory chips. these store consumer electronics like mobile phones and digital cameras. the paper reports that toshiba is seeking damages and a suspension of chip sales by south korea-based hynix. in terms of earnings news -- watch out for three of japan’s biggest shipping companies. they can expect record operating profits in the current fiscal year because of freight charges as a result of the global economic growth t. three companies we’re talking about here, mitsui o.s.k. lines, cause sakai kissen. some of the particular companies olympus said profit more than halfed in the fiscal first half because prices for the devices fell more than expected. oh limp pus said the average price for digital cameras fell 18% in the second half. among call makers, there’s mazda to look out for. earnings during trading at 10:00 a.m. japan time. mazda will say fiscal first half profit rose 79% on produced costs and increased sales in europe. now the car maker is deepening cooperation with ford. mazda is sharing parts and design for vehicles including the axcela compact car and ford focus. they’re opening an exclusive dealership in the u.s. to raise brand image. the tokyo electron, the maker of semiconductor equipment. cisco’s first half profit fell short of the expectations because of an accounting change. net income totals 1.3 billion yen for the six months ended september 30. that amount is 48% less than the 2.5 billion forecast compared with a net loss of 9.8 billion yen a yore. those are some of the companies i’ll be looking at when we do have trading going here -- starting here at tokyo at 9:00 a.m. for now, it’s back to you.
>> thanks for that, shelby. john culture shea breaks the central bank’s silence about the euro’s rise against the dollar. next―strategists at the bank tell us if that’s enough to convince investors the euro is ready to reverse course.
在线播报
Listen Market briefing --- Catherine (fast)
Crude oil--- Su (fast)
>> welcome to live in hong kong, i’m catherine yang. plenty for you. the full wrapup of today’s market action, including reports for the u.s. market exchange and the nasdaq. a current strategist will tell you where he sees the dollar heading next. also coming up on the show, we’ll hear from the head of one of the parties of india’s ruling coalition. find fout the communist party chief planned to block state asset sales. web site banking will comment on earnings and the housing market . world news, he was an iraqi forces launched a long-awaited attack on the militant stronghold of fallujah t. military spokesman said the marines and the army launched an attack in the northwestern and northeastern districts of the city a. barrage from artillery positions and from the air helped set the stage for the results. the pentagon defense secretary donald rumsfeld tell reporter that is the battle for fallujah is, in his words, a tough business that’s going take time. however, rumsfeld said he wouldn’t call the battle of fallujah a final showdown against the insurgents there. he calls it a step in the right direction.
>> if you think of what the terrorists will lose when iraq is a free specialized stable country providing for the security it’s clear that the --
>> secretary rumsfeld added that the u.s. troops have seized more foreign fighters in fallujah but it’s too early to speculate on more prisoners or casualties t. dollar back to a record low against the euro. three days of decline after the european central bank president. he called the dollar-suisse fall against the euro brutal and not welcome. that reverses softer comments he made last week. his words echo a statement he made earlier this year. while he tried to talk down the euro earlier this year, the e.c.b. did not follow up with any market action such as selling euro or cutting interest rates. the dollar fell to a seven-month low against the yen trading in the range for the second straight session t. dollar will fall even further unless central banks step into the market .
>> the real question is foreign center bank intervention. last year through the first quarter of this year, we talk intervention by the bank of japan. they’ve heezed off. they have not intervened. if they come back in or the european central bank decides to come back in, that could support the dollar for a while longer.
>> the dallas is falling among speculation the trade and u.s. budget deficits will rise next year. on wall street t s&p snapped the longest winning streak since 1997. they’re concerned the fed will raise rates twice before the end of the year t. dow and the nasdaq are slightly higher. energy stocks fell the most. the a.d.x. index lost 1%. u.s. bond markets fell pushing the 10-year note to a one-month high. the government is selling $51 billion in debt to fund the record deficit n. a late development, u.s. treasury undersecretary brian roseboro said he would not join the second bush administration. he’s the treasury second finance chief and analysts considered the main liaison officer to wall street’s bond markets . the japanese bond slipped slower on stronger job growth. japan will be able to rely on the export recovery. five-year notes fell on speculation. traders will sell them to raise money to the government’s $2 trillion yen bond auction today. crude oil falls bringing the decline to 12%. they expect the demand will be enough. crude oil for december fell 1.1% in the new york day trading. and in extended trading, get your prices later on. u.s. energy reports show inventories rising for six to eight weeks. the crude oil future is at $49 flat. demand for heating oil fell because of warmer than usual weather the northeastern u.s. the combination of warmer weather pushes futures to 1% lower to little more than $49 a barrel. that compares to a record-breaking price of more than $55 a barrel two weeks ago. sioux sioux tells some investors are questioning. what can you tell us, su?
>> we’ve seen crude oil fall 12% from the price you mentioned. two prior pullbacks of 15% led to a new recovery of new highs in oil, mike fitzpatrick says there’s a lot of difference this is time around. one crucial change in his view the past six weeks of buildup in the nation’s crude oil splice. cathy, u.s. supplies served 7.5% in that time according to government data. analysts showing that bloomberg expect this is week’s data to show heating oil supplies rose for the first time in eight weeks.
>> once you get past november 1, you have a fairly good idea of what inventories are and what your needs are going be for the winter. so, again, we’ve had a fairly good drop since november 1. we’re in for a downperiod of consolidation where we trade sideways for the next little while until the larger picture becomes clear.
>> the warmer weather is also affecting pricing―this weekend brought springlike temperatures to the northeast in the u.s.―the northeastern u.s. which makes up to 80% of home heating oil demand. meanwhile, marshall steve shows the latest trade dag that shows fewer professional investors are betting crude futures head higher.
>> that started to indicate a change in position among the hedge funds and among other smaller speculators that they’ not as bullish on oil prices going forward. and if that trend continues, i think that will mark an important change in sentiment which could lead to a more significant downfall in prices.
>> well, on the topic of lower prices, j.p. morgan’s economists james glassman is predicting oil fall into the $30 a barrel range in the coming months.
>> we’re expecting oil prices to drift back down to the mid 30’s. and the opec is certainly working aggressively to make that happen. and we’re starting―we’re going be seing in the next half year or so there’s more production coming out, people are conserving a little bit more. and so i think that we’re going see these prices come back off -- come back down.
>> and, cathy, one of the catalyst prices to come lower, this week’s u.s. inventory report, it is due out wednesday. should be an interesting trading day. back to you.
>> thanks for that, su. now boeing may lose out to airbus for an order of planes worth nearly $5 billion. people familiar with the situation say air asia nay buy as many as 80 aircraft from airbus. the asian discount carrier has 20.437. they may buy 40 airbus a-320’s. “the wall street journal” is reporting airbus got the order because it’s offering a lower price than boeing. beauing is accusing airbus of undercutting prices from the european government. david wang joins the show at the time seen on your screen. find out how the company plans to fight back against this from airbus. production growth slowed last month after the government ordered banked to restrict lending. economists we surveyed expects factory output to rise in october follow ago 16.1% gape in the previous month. china may report on figures today. analysts we surveyed expect frozen dep man of a two-year low of 22.4% last month t. world’s fastest growing major economy is stepping up efforts to cool expansion. china raised interest rates last month for the first time in nine years. moscow may say first half profit rose 79% after they cut cost and built more vehicles in europe. mazda built 20 million yen or 189 million in september. the profit figures from national australia bank. analysts we surveyed expect that the income fell 18%. out of telecom―south korea’s internet provider gives results today. for a preview of today’s trading action in asia, we’re standing by. you’re watching bloomberg live.
