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tv   Street Signs  CNBC  September 27, 2016 4:00am-5:01am EDT

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welcome you're now watching "street signs". i'm louisa bojesen. >> i'm carolin roth. here are your headlines. zwr . i'll release my tax returns against my lawyers wishes when she release the 30,000 emails that have been deleted. >> both candidates release big punches in the first debate. clinton pulls ahead on donald trump's economic plans. >> i call it trumped up triple
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down because that's what it would be. that's not how we grow the economy. oil slides lower. a deal may be off the table. and german concerns, deutsch bank clawing back from record lows as they consider cutting 9,000 jobs. >> more suitors flock to twitter. hi, everybody and welcome to the show. good morning. >> good morning. >> we got it last night. >> i didn't get up at 3:00 to watch it. i watched snippets. >> i got up and watched it. the first of these three u.s. presidential debates kicking off last night in long island, new
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york, the candidates sparred on issues including foreign policy, domestic race relations and the economy. attacking trump's economic plans hillary clinton offered her proposals for job creation and how she would plan to reduce the defendants. >> independent experts have looked at what i proposed and looked at what donald's proposed and basically said this. that if his tax plan which would blow up the debt by over $5 trillion, and would in some instances disadvantage middle class families compared to the wealthy were to go into effect, we would lose 3.5 million jobs and maybe have another recession. they looked at my plans and said okay if we can do this and i intend to get it done, we'll have 10 million more new jobs because we'll be making investments where we can grow the economy. >> donald trump meanwhile fired back with his own attacks on the state of the u.s. economy,
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directly criticizing the actions of bill clinton and signing of nafta. >> your husband signed nafta which was one of the worst things that ever happened. >> that's your opinion. >> you go to new england, you go to ohio, pennsylvania, you go anywhere you want, secretary clinton, and you will see devastation where manufacturing is down 30%, 40%, sometimes 50%. nafta is the worse trade deal signed anywhere but certainly this company and now you want to atrove transpacific partnership. you were in favor of it. you know if you did win you would approve it and that will be almost as bad as nafta. there was so much anticipation going into this debate specifically the polls were narrowing going into it. neither candidates had a catastrophic showing. a lot of people would say clinton has won. cnn poll says 62% viewers
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thought clinton won, 27% said trump won. did it move the needle in terms of the overall race? did it help either of the candidates in terms of their likability? that's the issue here. some say hillary won but trump didn't lose badly enough to end the uncertainty. >> in terms of these market moves, david blum is quoted as saying if you want to know who won the debate look at the dollar against the connectionian some. >> the mexican peso at this multimonth lotion and jumps on the back of the debate. also, i would note that i saw the cnn poll and other polls indicating hillary did walk away the winner of this debate. we can still talk about whether that's true or not. frank luntz on twitter posted a
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little snippet showing the undecided voters and how their reaction changed when listening to hillary. >> how did it change? >> while trump was speaking they were much more favorable. undecideds won the debate last night. i don't know how that data is gathered. >> i believe there's only 10% of the american public that's undecided. whether that's a swing factor, that remains to be seen. you talk about the market moves. obviously one of the big ones was the mexican peso that gained 2% against the u.s. dollar. another pair that moved was the canada dollar against the u.s. dollar. let's show you that. that saw quite a jump. the dollar still down by 0.2%. that's because trump has also been criticizing nafta. i want to show you the yen. the yen pulling back from a one
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month high bi 0.2%. spot gold at 1337. u.s. futures raising loss to trade positive as the debate kicked off near session highs as the debate ended and dow futures added briefly 100 points. right now they are indicating a move to the upside to the tune of 80 points. s&p 500 set to add 10 point. by and large the markets decided hillary won. but only one debate so far. two more to go. >> anything can happen. here in europe we're just trending a little bit lower this morning. actually a little bit higher, excuse me. it looks like a different story we're looking at these particular stocks on the left-hand side of the screen. on the right-hand side near higher by .2 percentage points. our main european equities trading up.
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the ftse, the dax, cac, asian shares recovering. the sector story out there where we're seeing gains food and bevera beverage, household goods, telecom pulling up. by and large oil also just seeing a little bit of a pulling back from the recent sharp jump higher on hopes we would see some type of a deal. we're now hearing the opposite we won't hear anything out of this meeting taking place in algeria. brent crude off a percent or so. joining us is ron william. good morning. you've done some work on the presidential cycles. what do the charts tell you >> the charts say this year will be different from most years because we're in the last year of the second term of presidency and obama and it usually yields
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a negative year end average of 13%. there's this lame duck effect where a lot of people, policy ambitions are reduced. sentiment is more depressed. even more this year one might expect with the level of political uncertainty into this new election we're about to see. so down side risk to come. >> on the other hand, you could argue that this election is like no other collection because the candidates are so polarizing. the public is out to vote for change and that's why trump has been doing so well. can you look at historical technical indicators to forecast what the stocks will do this year? >> nothing is certain but probabilities do suggest in the context of an overextended market risks are more on the down side than upside. we saw the markets last week having the end of the week reversal back under the old all
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time high. suggesting a failure to make new highs or to hold that ground. if that were to continue it does signal a potential risk for a 10% drop technically and, again, this would be very healthy in the market. nothing moves in a straight line and the market has been doing that of late. for the last two months volatility has been the lowest it's been for some time. so some kind of a calm before the storm that we may see. >> we're just looking at a chart there on screen, indicating that we already had these kind of two minor corrections in the last couple of months. people were anticipating heading into the year we could be in for this 20% massive correction. we haven't seen that. why would it be different this time around. >> a confluence of technical events that coincide with events. timing is key. we're in that seasonal period of
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september and october where we usually get this autumn fall crash cycle which is the phenomenon. this is the final stage. that also is the potential depressed performance you might see into the presidential election. that might end up positive afterwards but into that election likely to be negative because how overextended we are. watch the average which is key support on the down side. below that we could get that 10% correction if not lower. on the 20% correction, if w were to correct it's less probable but if we do correct down the february lows that would yield a net 20% correction. >> so if you're saying we should be cautious on equities and we might be in for this correction where should we be? >> reducing expectations to equities, reducing highest valuations. potential hedge into safe-havens such as the u.s. dollar and gold
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at the moment. last standing safe-havens that we could envision. >> i wonder if that holds true. is the dollar a safe-haven still. if trump wins -- there's so much uncertainty about this election and what fed will do. can you call the dollar a safe-haven? >> technically speaking it has been heading that way recently. certainly yields have been the opposite of a safe-haven play, the fact that they have been solo for so long. the u.s. dollar is breaking out technically and not something we can ignore any longer. the fact it's been going sideways for a year and a half is giving it a bad name but sadly we do need to look at the price evidence to suggest there's further upside in the short term on the dollar and it's been increasing. >> can i ask you, you mentioned the 2008 crisis record for the number of days gone without a 20% correction. that we've broken that number of
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days. >> yes. >> does that matter? markets don't know if it's tuesday or wednesday or september or does it matter that we've broken that number of days without a correction? >> technically it does. it's a good gauge. traditional measures don't work as well as they used to. good to look at historical precedence. now we've had plenty of them along the way but haven't reacted the way most have expected. i would say the longer we hold up the stronger the down side risk. certainly as we approach these cycle windows, but alsohe presidential electi. >> thank you very much. get in touch, nice to flare you, streegt signs europe @cnbc.com. e-mail address is on the screen now. you can tweet us as well. coming up on the show the global housing market is
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overheating so says ubs. find out which city topped it's bubble risk list. i got a feeling we live in a bubble city. >> i know that feeling. see you in a second. we're talking within a 1% difference in reliability of each other. and, sprint saves you 50% on most current national carrier rates. save money on your phone bill, invest it in your small business. wouldn't you love more customers? i would definitely love some new customers. sprint will help you add customers and cut your costs. switch your business to sprint and save 50% on most current verizon, at&t and t-mobile rates. don't let a 1% difference cost you twice as much. whoooo! for people with hearing loss, visit sprintrelay.com.
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welcome back to the show. saudi arabia's oil minister says the algeria producer meeting is consultative. he said although the recovery was slower than expected he remained optimistic on the oil market. let's go back out to hadley who is standing by in algeria. optimism means we'll get a deal out of algeria? >> caller: . >> reporter: we've heard speculation over the last couple of days whether there would be a
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deal done at this meeting or not and what i've been told is that really this is the big teaser trailer before the big opec meeting. everyone wants to walk away from here with something in hand, at least some sort of strategy how this will play out. we heard from the iranian oil minister apparently speaking to his own state-run media, essentially playing down expectations for what will happen here but talking about laying the ground work for a future agreement. the saudi minister saying the market hasn't recovered as quickly as he had hoped but optimistic that this will be h consultat much i vr trc consultative meeting. then he was saying today apparently that he was very, you know, he was rather skeptical
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that an agreement could happen in the next few days and that does play to what we've been hearing from these various delegations. as these meetings get under way we have to wait and see how it plays out. thank you very much. oil is tracking lower on the back of this as there's pessimism. brent crude at 46.84, down by 1%. wti at 45.56. deutsch bank drag on the sector specifically in yesterday's trading session closing down 7% a negative bearish call on the stock as well as a report that german chancellor angela merkel would not provide state aid. head of communication at deutsche bank told cnbc that fears that the bank are too big to fail are overdone. >> the share price is low, but that is not what is worrying us, and that is not what we're really looking at. what is really important to us
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are credit story which is very strong. >> they are considering cutting 9,000 jobs. the head count reduction will be part of their restructuring plan and scrap dividend payments for the year. and alstom waits for a government backed plan to keep the operation open. the proposal is expected by the end of this week or early next week. shares currently off by 1.3%. higher to the tune of 15% over the last 15 months. let's get out to nancy who is in paris. >> reporter: thanks for that. first on the stock price reaction. we should note investors have been encouraged by the announcement from alstom they would shut the facility because they look at it as a step in the right direction to improve competitiveness on the global
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level. i got word from an analyst who said look the actual impact of the strike may be relatively minor but in that global context it has taken some shine out of the shares today when you consider that alsthom is freezing plans already to shut the facility depending on government's decision. now this story has turned into a political drama as we get closer to the presidential race next year a lot of fingerprinting who is to blame for this one. i'm joined by the mayor. sir, thank you for taking the time to speak with us. a lot of discussion as to whether or not the government was too slow to address this or perhaps alstom's management is to blame. what do you think? >> i think the government now needs to pass some new orders to save the plant's history, plant of belfort and we need the
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chairman of alstrom to add investment. >> you have had a chance to speak to him. does he understand your feelings on belfort over the situation at hand or is he right to be focused on the company at all looking at france an the need to keep this country alive. >> well he's very clever. he knows that the presidential race is coming up soon and thanks to this presidential race it could obtain from the government new orders for the trade. >> that's just you think some kind of a stunt, perhaps he's using a bargaining chip to get some money from the government. >> that's it. >> let's talk about those political ramifications. in your district there's concern from other parties, the sitting government that the far right is gaining power there as we look
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at the popularity surrounding that candidate. is that what you see? >> in belfort, alstrom is a sector built in 1879. so 137 years ago. it's a very important issue for us to keep this factory in our town. >> you are from the republican y, tpart party that has several contenders now for the race. who do you think is best to sit on your ticket? >> i think the best is nicholas sarkozy because he has the experience and a good leader to deal with terrorist attacks and also security. >> how does this end, if you can tell us, because you suggested the company wants some commitment from government on investment. does that suggest to you that your belfort facility will survive? >> i think so. i think next monday, probably
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next monday, i hope will decide to save the factory and to save belfort. >> sir, thank you very much for joining us. that's the mayor of belfort and a member of parliament. as you can see here a lot of anger, frustration among the workers who have traveled from belfort to protest at alstrom headquarters. on the sidelines very much a political drama. back to you. thank you very much. i want to get you the latest that we're getting with regards to what's going on in algeria, algiers. the iranian oil minister said they are in algiers to exchange views no more. there's speculation whether they would step up to the plate and cut production as saudis indicated if iranians will play ball. iranians have sanctions put on them but still not up to the
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levels they were at before the sanctions. they wanted to do that before doing anything else. and also talking how oil decline. most alarming development. they see oil decline in 2017 which means three successive years in a row. in other news, after 28 years, perry capital is closing its flagship fund. co-founder richard perry wrote market head winds have been too strong and the fund's position are too unpredictable. it's the latest vehicle to fall to pressure facing the hedge fund industry. now meanwhile one of europe's largest hedge fund is set to slash management fees to zero. as of december it's main $14.5 billion master fun and strategy fund will charge a 20% performance fee to existing investors out there.
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this follows similar cuts from other large funds. and wolseley will shutter several branches. there was a record profit from year to july. now, global real estate bubble risks are on the rise according to a report by ubs. house prices within its bubble risk zone have increased by 50% since 2011 leading to a significant over valuing in key housing markets. vancouver tops the list. chicago remains undervalued relative to its own history to mention a few of the report's finding. welcome. talk to us first some of the general finding from this report. i mean many of us know when you look at some of the bigger cities prices are very expensive
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in real estate. >> absolutely. we must understand the purpose of the report to identify where we see bubls emerging in the key financial centers. as you mentioned there are six cities where we see bubble conditions are present at the moment. but perhaps more interesting to actually look behind the report to understand what's been driving some of those moves in prices and certainly where prices are relative to history in the cities. the conclusions we had is driven by three main factors. the first being clearly optimistic expectations are one issue. second issue is caps. third area to focus on is the impact of loose monetary policy, especially as we seem to be in a period where loose monetary policy looks to be with us for some time. >> those six areas vancouver, london, stockholm, sidney,
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munich -- >> and amsterdam. >> so what's the difference between bubble and just normal general growth, you know, that's healthy, rejigging from where we were in the 1940s. >> in terms of what categorizes itself as a bubble where we see excessive rises on a number of metrics. these include not just prices, prices relative to the region but factors such as income, rents are another factor and this whole combination of factors in tracing that back relative to each city's history that identifies what cities look at risk of being in bubble territory. >> just curious have you factored in brexit in all of this? do you know what brexit will do to london and other financial centers that want to prosper at the cost of london.
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>> the report is primarily that it doesn't give us information about corrections that could be happening. we all know that all assets can stay overvalued for a significant period of time. when wehink back to the factors driven some of the changes in house prices and foreign investment floss the performance of the economy itself i would argue that perhaps brexit does pose a bigger challenge for the housing market than perhaps was the case before the 23rd of jun. >> as recently in san francisco you point out san francisco house prices have risen 50% since 2011. it's fathomable for many people who work there to afford a place, buy a place in san francisco over the next five to ten years because it's so overvalued. is that the biggest bubble that you're seeing out there? >> i wouldn't say it's the biggest bubble. i think there's a number of factors that are influencing house prices globally.
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local rents certainly will have a chance in the report to identify rents. you can see a number of cities it would take over 30 years of rent to pay for a house. so that looks expensive on historic basis. but also think about monetary issues. what that does to borrowing cost but relative price of assets. in a world of low yielding assets property arguably does look attractive. >> which is how one viewer writing in, real estate prices are sky-high but not correcting. in some places they never go down. we shouldn't expect a correction. we haven't seen one in switzerland in plus 20 years. >> we look at geneva and zurich and one of the interesting factors why neither of those cities creep into the bubble
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index is because there's poor performance at the local economy but performance of wage growth in those economies. the affordability, although it's excessive relative to the wider country and there's other measures that are coming in place. macro measures that have come in. >> thank you very much. we should all move to chicago. >> i lived in chicago years ago. or you trade in your studio flat here for a palace in the country side somewhere like really remote. >> think about that. two hour commute. if you still want to work. we have to take a quick break. check out world markets live our blog which runs throughout the european trading day. we're back in two.
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welcome. you're watching "street signs". i'm carolin roth. >> i'm louisa bojesen. your headlines today. i will release my tax returns against my lawyers' wishes when she releases her 33,000 emails that have been deleted. >> both presidential candidates land big punches in the first head-to-head debate. dow futures pointing to double digit gains as hillary clinton pulls ahead with a stinging attack on donald trump's economic plans. >> i call it trumped up trickle down because that's what it would be. that's not how we grow the economy. >> crude slides lower as comments from the algier's oil producers meeng indicates a deal may be off the table. german concerns, deutsch bank touches a fresh record low
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as they consider cutting 9,000 jobs. more suitors flocking to twitter as fresh report suggests microsoft and disney are considering bids for the social network. good morning, everyone. if you're just waking up here's a quick peek at u.s. futures. s&p up by 10 points. dow jones up by 79. actually futures were near session highs as the debate ended with the dow futures briefly adding more than 100 points. still positive. nasdaq up by 25 points. this is after u.s. indices saw their worst day in two weeks stocks closing at the lowest. s&p, dow and nasdaq off bio.9%. in terms of the european picture we're looking positive thanks to the outcome, perceived outcome of the first presidential debate. a lot of people say clinton won
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and that's seen favorably by the market. the dax up by almost 0.2%. banking stocks are coming back. less pressure on deutsche bank. some people seeing it as a bargain opportunity. oil and gas trading lower and putting pressure on oil producers. the conferency markets that's where the story is. we are seeing some dollar strengthening against the. japanese yen as the safe-haven yen is seeing less appeal. we're higher here to the tune of a quarter of 1%. big outperformer was the mexican peso jumping by 2% against the u.s. dollar. that's in part because of course donald trump has been very, very starch opponent against nafta and all things mexico. >> people writing in on twitter talking about whether or not the market is getting it right or wrong in terms of the decision
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who won the debate. keep your tweets coming through. john mcdonald won a stands ovation at the uk labor conference yesterday as proe missed to redirect the tax burden towards the wealthy and proposed a large hike to the minimum wage. steve is in liverpool. steve, two issues that lots of people might be very happy to hear. >> reporter: well a lot of people here at the labor party. there's a unity problem. i came to liverpool to my first labor party. i heard about the moderates versus momentum, left wing versus central british politics. i came with an open mine. pretty much everything i heard says that disunity from the parliamentary labor party had a no confidence vote which led to the leadership election of mr. corbin again and the party is as split as ever. one thing they are joined on, of
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course, is economic policy and austerity and end of free trade, globalization and more interventionism and this was music to the ears of john mcdonald who promised all this. promised no more 2008 financial crisis to clamp down, saying patriots pay their tax. there was a throat for this audience to get around. whether these become active policies remain to be seen when and if. some people are saying john mcdonald is part of the problem because he's still allowing aggressive tax on moderates and mps as well but managed to say a couple of words to cnbc yesterday and i asked him about the relationship to business, i asked him about the city and he made some very interesting comments about philip green and mike ashley what he said were the unacceptable business practices.
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listen to that and then his answer to aversion of taxes in the city. >> shock examples of basically abusive practices. what we want to do now is introduce company law which makes sure employees are treated fairly and properly. we don't want those examples ever again. we had one example of a woman terrified to taking time off. that's not acceptable. ambulances have been drawn to one particular company. my mom worked for bhs. a lot of bhs workers are not sure whether they will have a pension. we want to make sure we have an economy that's prosperous. >> you mentioned there's a lot of companies that are abusing the system and avoiding. >> what happened with the leak of the panama papers we saw that tax evasion. that's unacceptable. we want to make sure there's
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proper enforcement and we have a proper base. in the city that's what people are saying as well. they don't want the good to be brought down by the bad. >> reporter: so plenty of economic policy with brexit hanging over is very difficult. soft breaks, hard breaks and how these negotiations go. i spoke the secretary of international trade on his views how brerkt is going, what it looks like. >> the idea that brexit is something that can be negotiated in two years and that we can restructure our relationship with 27 countries that is the largest single market in the world, and do that while at least one of those two years, the germans, the french and dutch are all holding their general elections, i think that
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doesn't sound feasible to me. there are really minute details about trade that need to be resolved. this isn't just about quotas and tariffs it's about nonat that arrive barriers. looking at our supply chain and look at the moment we service as a supply chain in a product that comes out of germany, italy, spain or france and if we leave the customs union, if we leave the european union single market, the effect of that is that when they export to america or to china or wherever else, there are rules of origin that eventually -- hang on you have british in the supply chain. they are no longer part of the european community. we can't take your product. that means british jobs will be cut-out now. >> reporter: let me tell you what's still to come. tomorrow is the big speech from corbin. hiding from a lot of snappers and reporters.
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today, the most important elected official you could say in the labor party the mayor of london and will try to look for the secret sauce to get labor back into power. and the person who will take the debate to the conservatives. back to you. thank you so much. in case you didn't know the first of the three u.s. presidential debates kicked off last night in long island, new york. the candidates sparred on issues including foreign policy, domestic race relations and the economy. hillary clinton came out firing accusing donald trump stiffing thousands of people and hiding his tax returns. >> maybe he doesn't want the american people, all of you watching tonight to know that he's paid nothing in federal taxes because the only years that anybody has ever seen were a couple of years when he had to turn them over to state authorities when he was trying to gate casino license and they showed didn't pay any federal income tax. >> that makes me smart.
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>> meanwhile donald trump defend his temperament saying his years in business had prepared him well for the presidency. >> i have much more better judgment than she does and a much better temperament than she has. i have it much better. she spent -- let me tell you, she spent hundreds of millions of dollars on an advertising, you know they get madison avenue into a room, temperament. i think my strongest asset maybe by far is my tempermen. i have a winning tempermen. i know how to win. the afl-cio the other day behind the blue screen, i don't know who you were talking to secretary clinton but you were totally out of control. i said there's a person with a temperament that's got a problem. >> nbc's tracie potts joins us from hofstra university in new york and good to have you with us. for the benefit of viewers who may be switching on.
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recaptakeaways from the debate. what are we looking at? >> reporter: well probably not a clear win by either side based on the reaction that we're getting. we've been tracking what's going on social media when donald trump was talking about his temperament that was the biggest moment on facebook and twitter. the biggest takeaway is that this is still a very tight race and contentious race and there are some clear differences in the vision of these two. they started out talk about trade and the economy and jobs and the impact on trade and jobs here in america and it was clear that they had two very different visions. donald trump says if you want to create more jobs in america, cut taxes on the job creators and fix these trade deals so jobs aren't going overseas. hillary clinton says you need to focus from the bottom up and make it easier for families, working families to spend the money they have and train them
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provide more jobs by building up our infrastructure. she said that's something she wants to do in the first 100 days. let's bring in another voice, chief u.s. analyst at eiu. thank you for joining us. lot of people say hillary won. does it matter? >> that's the bigger question who won one of three debates. throughout this whole race we saw donald trump say some very unacceptable things and not presidential. but that hasn't had a big effect on his poll ratings. i don't expect to see a big swing in the polls. last night was a fairly clear win for clinton. >> the big issue is likability. voting right now is so negative because you vote for the person that you don't like, essentially. you vote for the other candidate. do you think that the debate helped them in any way, shape or form? >> i think it helped clinton because we have these slightly residual questions about the
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state of her health and stamina and they talked about stamina. i thought she came across very well. donald trump i thought was a little bit flaky at times. there was some sniffles. that's not in the same category as pneumonia. clinton came across as bright, engaged and might put the health questions to rest. >> i saw that sniffling. we got viewers writing in, conferency markets were hopelessly wrong on the brexit referendum. markets don't vote, people do. can we take away any of these market reactions and say this is baked in, this will happen. >> absolutely not. we know that market are veritiery at the moment. we saw the mexican peso rise on the perception that hillary won. market don't know anything. it's going to be a close race.
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when you compare the experience of the two candidates and how they have behaved on the stump so far. i don't think either of them landed a knock out punch. candidates very rarely do in the first debate. i think we saw a clear distinction in the characters of the two. >> how about fact checking? a lot is being done on twitter and facebook about check the facts from both candidates and really calling them out on what they are saying versus what they said in the past. how important is something like that going to be. >> i thought it was interesting last night. there were a few times when hillary listened to one of trump's answers and stepped back in exas peration and there were appeals to fact checkers. donald trump says statements that either contradicts himself or contradicts reality. we don't have a way of reacting to a candidate who doesn't care if he's caught lying. that's one of the fundamental trust of politics you're supposed to say what you mean.
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he's got a very flexible relationship with the truth. >> lester holt of nbc news moderated the dict. going into the debate there were so many questions how tough he should be. at times he was very tough. he called out trump on the birther issue, iraqi war. others argue he wasn't tough enough on hillary. did he do a good job? >> he did a reasonable job. tough gig. when he sat down he didn't know what kind of trump he would get. the most valuable of the sections were when he got tough. you mentioned the birther debate. but there can always be more. >> what about hillary? she needs to pick up her game to widen the lead. it's been narrowing giving concerns about her health, clinton foundation, transparency. what will she do next?
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>> just be out there because we have this period of a week where she was recovering. that gave trump a free pass for a few days. i think -- let's see how the base settles down. she will get a minor bump in the polls and then preparing for the next debate. >> is it fair people expect more of hillary than trump in terms of performance on stage? >> absolutely. they are judged by rapidly different bars. there's very little trump could have done. yes. in short they really do. people don't expect a polished presidential performance from clinton, with trump they expect him to finish his sentence. that has a remarkable effect. >> if you take exactly what the two candidates say and you switch heads, you have them say what the other one has been saying and how that will be perceived and how people will be judging them -- >> it's a year or so since we
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were waiting for the republican party to come and wake up and smell the coffee on trump and sober up and elect potentially electable candidate and it didn't happen. now we're a year on and the idea of a trump presidency is very real but we still perhaps haven't seen that awakening of what the consequences are. we're hearing about international trade talked about as a negative issue as we see it as completely opposite. >> thank you very much for being with us. >> nice statement. now it is prime minister announced referendum on his constitutional reforms will be held on the 4th of december. the no camp is leading with 55% of votes against 45% share for yes. renzi says he'll resign if his reforms are rejected. >> mario draghi emphasizing monetary policy is nearing the limits of effectiveness.
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the ecb president warned that the negative side fesks a prolonged period of ultralow rates. head governor daniel you're the -- turello will give greater relief to small lenders as it updates its stress test. there's a capital buffer to better protect the financial system and wider economy from potential shocks from the country's largest banks. bank of japan was concerned about reaching its price goal according to latest minutes of a meeting. power to the workers. we're live in paris to find out why alstrom delayed the closure of its historic belfort plant.
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hi, everybody welcome back you're still watching "street signs". guess what another two suitors have entered the race to snap up twitter. the sornl network is working closer to a formal sales price with microsoft being one of the companies interested. this fools report from bloomberg that said walt disney is looking at a bid. >> maybe you should wonder who isn't interested in twitter right now. everyone seems to be interested. is anyone actually going to pounce and pay that much for twitter? >> interesting with the whole debate on disney possibly being interested. there's that piece why disney won't be buying twitter. disney is a video company or don't. twitter is the type to deliver video or video delivery company. the issue is how can twitter work with any other content
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company which it would have to do in order to be a video delivery company if they are owned by disney. they can't get content by viacom. >> it would make sense for disney. for disney and espn there's so much concern about the cord cutting that if you buy twitter and then you can address many of those cord cutting concerns because now twitter too is live streaming nfl. >> yes. how would twitter get the content like buzz feed or whatever. shares in london trading higher after an announcement that nissan is joining force with microsoft to deliver cloud based services for its cars. the service is expected to include advance navigation and aid to build self-driving cars by 20. >> joubld japanese airbag maker at that da will sell its american unit.
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we have more from the nikkei. >> takata has been blamed for making air bags with faulty inflateors and been known to explode when exposed to moisture. cost for the recall have reached over 1 trillion yen or $10 billion. most are being shouldered by automakers but takata is expected to pitch in. nikkei reported takata is moving to sell its u.s. i knit for $168 million. takata holds 20% of global market share in air bags and deals with often automakers such as honor darks toyota, bmw and ford and to avoid going bankrupt at that da is seeking a sponsor for its turn around and in selection process among five
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contenders. it cluds a swiss based company and u.s.-based the market could become unfairly dominated. honda and toyota will weigh in on the choice and restructuring plans with a named sponsor is to be put together by the end of the year. that's all from the nikkei. back to you. let's get back to france, alstom has put the stroefrm closure of its belfort plant on hold as it waits for a government back plan to keep the operation open. decision is expected this week or early next week. nancy, what your seeing? >> reporter: as you can tell the protests are building by the hour behind me. we're just looking at more factory protesters coming in here to the headquarters. a majority of them are coming from that plant in belfort.
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that's the site under consideration. belfort wants to shut it. the government says no way. we'll get a decision next week from the government how to keep that plant alive. some analysts said yes taking a bit of shine off stocks amid uncertainty. any decent government proposal will likely include a plan to boost orders. that means support for additional action at belfort and hopefully support to secure those jobs. earlier we spoke the mayor of belfort and he was encouraged that would eventually be the case. on the political front i did speak to one of the union representatives earlier and asked him whether or not the current government was doing enough to support the site. here's what he had to say. >> my opinion is that alstom has a lot of problem and in the past the problem was not in the top of their problem because of economic calls and quality calls. now alstom problem is now trying
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to answer to these questions. so it's better to begin now than not to begin. >> these protesters demonstrating behind me, they are trying to make it loud and clear that this is a problem they do not want french president francois hollande to ignore as we get closer to elections next year. back to you. thank you very much. quick glance at the u.s. futures and how we're shaping up for trade today. of course the day after the u.s. presidential debate the implied open higher across the board. i'm louisa bojesen. >> i'm carolin roth. "worldwide exchange" is up next. see you tomorrow. bye-bye. now. we're talking within a 1% difference in reliability of each other. and, sprint saves you 50% on most current national carrier rates. save money on your phone bill, invest it in your small business. wouldn't you love more customers?
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good morning. you're money you're vote. hillary clinton and donald trump square off in the first presidential debate. we'll bring the highlights. markets now, stocks rally around the world and u.s. equity futures are pointing to a big gain on the open for wall street. plus calling it quits at perry capital one of the nation's best known hedge funds is cutting its losses and shutting down its flagship fund. ice tuesday, september 27, 2016. "worldwide exchange" begins right now. ♪

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