:00:00. > :00:00.Now for the latest financial news with Sally
:00:00. > :00:20.Black gold - 2 of the worlds largest oil companies report earnings today
:00:21. > :00:24.giving investors vital insight into how big oil is coping
:00:25. > :00:30.The squeezed middle - as voters in the US prepare
:00:31. > :00:33.to make their choice we find out which candidate the middle classes
:00:34. > :00:41.believe will boost their bank balance.
:00:42. > :00:48.Also in the programme, we'll cross over to Asia
:00:49. > :00:51.where the latest manufacturing data is pointing to recovery
:00:52. > :01:02.Global oil giants BP and Shell are due to release their quarterly
:01:03. > :01:08.The oil producers are both expected to post a decline in profits,
:01:09. > :01:12.but BP in particular is expected to show more signs of weakness
:01:13. > :01:15.as the price of crude fails to recover.
:01:16. > :01:19.Oil has had a rocky 2016 - in January it dropped to its lowest
:01:20. > :01:23.level in over a decade at around $28 a barrel.
:01:24. > :01:28.It's currently hovering around $50 a barrel,
:01:29. > :01:30.weighed down by persistent oversupply.
:01:31. > :01:32.In September the Organisation of the Petroleum Exporting Countries
:01:33. > :01:36.- or OPEC - agreed to do something about this.
:01:37. > :01:40.At a meeting in Algeria they announced a modest limit on oil
:01:41. > :01:43.output levels in order to prop up prices.
:01:44. > :01:49.This is the first cut in production since 2008,
:01:50. > :01:53.but the details of the how the cuts will work are yet to be finalised
:01:54. > :01:56.and any further agreement has yet to be reached following a meeting
:01:57. > :02:02.of both OPEC and non-OPEC members over the weekend.
:02:03. > :02:08.Russ Mould, Investment Director at AJ Bell.
:02:09. > :02:20.Good morning. Lets talk about the two companies to start with. We have
:02:21. > :02:29.had big US oil numbers reported an their profit at 35% 45% year on year
:02:30. > :02:35.so that is the benchmark. The European looking for BP and Shell to
:02:36. > :02:40.be down by half. They are quite different companies to what they
:02:41. > :02:48.were at the beginning of the year. It was a big manoeuvre, 47 billion
:02:49. > :02:53.dollars. It meant they are more exposed to liquefied gas, deep water
:02:54. > :03:01.drilling in Brazil, for example. Shell has more petrol chemical
:03:02. > :03:05.exposure. BP lubricants. It all depends on different parts of the
:03:06. > :03:11.world as well. We are looking at a significant fall in profits but what
:03:12. > :03:18.about other elements - capital expenditure, that kind of thing? If
:03:19. > :03:23.you look, BP shares and Shell shares are near a 12 month high of partly
:03:24. > :03:27.because it has recovered from its lowest but capital investment cuts,
:03:28. > :03:34.cost-cutting, they are leaner and meaner that is the mantra from both
:03:35. > :03:41.companies. The meeting in Vienna on Friday has spilt into Saturday. We
:03:42. > :03:51.all hoped OPEC would say about production cuts. We should learn our
:03:52. > :03:56.lessons given its records. Even if OPEC comes to an agreement, non-
:03:57. > :04:04.OPEC may see this as an opportunity to grab shares. They seemed to
:04:05. > :04:10.spring back to life after all your reach is $50 per barrel. Relying on
:04:11. > :04:16.OPEC is a road to ruin, as in the past. Russia is also meeting with
:04:17. > :04:24.representatives and it too promised reduction cuts. You have to wait to
:04:25. > :04:32.deliver, again, unfortunately. Russia and Saudi Arabia need oil at
:04:33. > :04:39.around $100 per barrel to balance. They have a vested interest to
:04:40. > :04:49.getting oil up their but the Saudi's be cynical, could be different. When
:04:50. > :04:51.will it be at the end of the year? That's a brutal question. I will
:04:52. > :04:53.save $40 per barrel. Let's cross over to the US
:04:54. > :04:56.where middle class rage has Many Americans feel the economy
:04:57. > :05:00.is doing poorly and the next generation will be financially worse
:05:01. > :05:06.off than their parents. Michelle Fleury has been to Florida
:05:07. > :05:26.to find out who people believe On Florida's Coast, where the
:05:27. > :05:31.American dream went broke in the housing collapse of 2007. The
:05:32. > :05:35.horrors of that crash could still be felt in the real estate market and
:05:36. > :05:43.in this year's election. How much of your income... About 56.5% is going
:05:44. > :05:50.towards the rent. It is our lot. Jennifer works as a nurse, owning a
:05:51. > :05:57.home is unthinkable without help. At this stage, she is undecided but
:05:58. > :06:05.clearly she wants to hear of someone who eases her financial burden.
:06:06. > :06:10.Someone needs to prove to my type of class that they will go above and
:06:11. > :06:21.beyond this country. The science seem to favour Donald Trump. He has
:06:22. > :06:30.tapped into dissatisfaction. $119,000... As a local estate agent,
:06:31. > :06:37.he has had a front seat. He has a ready cast his vote for Donald
:06:38. > :06:46.Trump. We need change. We work twice as hard to pay half as much. I am
:06:47. > :06:52.not saying that is going to change immediately if somebody like Donald
:06:53. > :06:57.Trump gets elected but at the the better if I put somebody a
:06:58. > :07:02.businessman rather than a politician in that position. With every bust,
:07:03. > :07:08.winners emerge. One person who got it good deal was Laurent Richardson
:07:09. > :07:14.and she will not be voting for Donald Trump. As strong as a
:07:15. > :07:20.businessman as he is, I would not trust his decisions. I think it
:07:21. > :07:25.would hire great people but I think Hillary Clinton would do as good as
:07:26. > :07:32.the job and her experience is primary. I also hold a lot of social
:07:33. > :07:38.issues she prioritises as near and dear to my heart. Hillary Clinton
:07:39. > :07:44.sounds a more up beat note on the economy while Donald Trump points to
:07:45. > :07:50.those struggling as a sign of economic despair. Here, in a swing
:07:51. > :07:55.state, the economic losers and winners live side-by-side.
:07:56. > :07:58.Markets in Asia have been given a boost by the latest
:07:59. > :08:01.The manufacturing sector has expanded at a faster pace
:08:02. > :08:17.Great to see you. How excited should we be? Investors are cheering this
:08:18. > :08:25.manufacturing activity from China. It has expanded in its fastest pace
:08:26. > :08:31.in more than two years in the month of October. Prices, garments,
:08:32. > :08:35.electronics have now been on demand and it has been a challenging couple
:08:36. > :08:39.of years for the Chinese but analysts are saying this data could
:08:40. > :08:46.be an indication that the economy might be stabilising, fuelled by
:08:47. > :08:54.stronger government spending, and a redhot property market. The
:08:55. > :09:01.benchmark came in at 51 .2 in October compared to 50.4 in the
:09:02. > :09:06.previous months. It indicates an expansion. If you take a look at the
:09:07. > :09:13.three quarters markets, the economy grew and look set to reach the
:09:14. > :09:20.four-year target to 7% but despite all these positive numbers and there
:09:21. > :09:26.are still red flags. The incidents persisted sluggishness in global
:09:27. > :09:32.demand. Despite the apparent surge in domestic spending, the government
:09:33. > :09:37.has pledged rod capacity reduction across a range of industries so it
:09:38. > :09:42.is still quite mixed but going forward things looking up for
:09:43. > :09:51.Chinese economy. Good to see. Looking at the markets of won Japan
:09:52. > :09:57.is standing out. The bank of Japan had meeting and it has kept interest
:09:58. > :10:03.rates on hold and acid purchases on hold. The Australian central bank
:10:04. > :10:08.had its meeting and again interest rates have been kept on hold. Other
:10:09. > :10:15.meetings in the US and UK happen later this week. The Fed starts its
:10:16. > :10:16.meetings later