YIKES on the overseas data today

Kelly Evans's afternoon commentary & top market stories

VIEW IN BROWSER | SUBSCRIBE MON, SEP 23, 2019 YOUR AFTERNOON NEWS UPDATE AND MARKET ACTION FROM CNBC AS OF MON, SEP 23, 2019 • 12:08 ET DJIA 26961.85 +0.10% +26.78 S&P 500 2995.24 +0.11% +3.17 NASDAQ 8125.64 +0.10% +7.97 EDITOR'S NOTE Just when you thought Germany's manufacturing data couldn't look any worse, they did.    The Markit gauge--which, like all the PMIs (purchasing managers indexes) is based on corporate sentiment, not actual output--tanked to 41.4 for the September flash reading, another two points deeper into contraction. You rarely get readings that low unless it's the Greek-economy-in-2011-kinda-thing.    Making matter worse were South Korea's export numbers, which dropped 22% year-on-year this month.    As Matt Maley of Miller Tabak put it, "There's a reason why South Korea is called 'the Seoul of the world's economy'…their exports have an almost 60% correlation to U.S. corporate profits."    Hence the tumble in global bond yields once again! We'll have much more--including the latest U.S. trade news that maybe can help ameliorate this situation--at 1 p.m.   See you then!   Kelly      Kelly Evans @KellyCNBC KEY STORIES  Microsoft launches e-commerce tools as Amazon rivalry intensifies Microsoft is looking for a new way to grab business from retailers as they fend off Amazon. WeWork's future comes down to Masayoshi Son vs. Adam Neumann SoftBank wants to push Neumann out of the CEO role ahead of the IPO. People aren't as interested in the iPhone 11 because they're waiting for a 5G model, Piper Jaffray survey says An annual survey by Piper Jaffray finds iPhone that users willing to upgrade to newly released models declined from last year. Investors wonder whether this calm march back to near record highs can be trusted The next three weeks are among the rockiest, on a historical basis, of the entire calendar. Here are the biggest analyst calls of the day: Amazon, Chewy, Lululemon, Clorox & more Here are the biggest calls on Wall Street on Monday Buy Boston Beer because its spiked seltzer Truly is riding the White Claw wave, says Guggenheim Guggenheim reiterates its buy rating on Boston Beer's stock and raises its price target to $462 from $449 per share. China to place government officials inside 100 private companies, including Alibaba Chinese government officials are to be sent to work inside 100 private companies working in the tech hub of Hangzhou, according to local state media. Roku could fall another 30% before finding a bottom, chart suggests The streaming wars may have claimed a new victim, and one technical analyst says it could be about to get worse. Elizabeth Warren's wealth tax could include a $1 million marriage penalty Harvard economist N. Gregory Mankiw says ultra-wealthy couples could split their fortunes in half through divorce and avoid paying a wealth tax proposed by presidential candidate Elizabeth Warren. Fed's Williams: 'We were prepared' for the overnight funding jolt last week New York Fed President John Williams said Monday that the central bank acted quickly during last week's jolt to overnight lending markets and that the issue appears resolved for now.     IN CASE YOU MISSED IT Vaping Co. CEO: Total ban would leave illicit products on black market India slashes corporate tax rate to boost economy Fed's Powell has mastered art of saying nothing: WSJ's Greg Ip   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS