Welcome to Bloomberg Markets the european open. Im matt miller. Cash trade is less than 30 minutes away. Trump trades antagonism for bipartisan appeal in his first state of the union address, but his opponents find little reason to warm to his vision. What does this mean for his big Spending Plans . And under pressure. Pushing down on may. The u. K. Prime minister tells rebels back home she is not a quitter as she tries to drum up trade in china. Plus, brazil keeps giving for banco santander. Our interview with the chairman in less than an hour. We are less than 30 minutes away from the european open. Take a look first off, at the futures. Drop in u. S. Stocks, we saw a recovery in asian stocks and it looks like this could be the end of the global drought. We do see the ftse futures down, although only just fractionally and use the gains in dax c futures and cac futures. Not quite as tech heavy as the u. S. Stocks got hit the hardest. Lets look at the gmm this morning. As far as the bi
Take a look at gasoline, another twoyear high at 5 and the spread getting wider. Wti versus brent off by six dollars, really speaking to the overproduction and oversupply of oil in the u. S. As the impact of Hurricane Harvey is truly felt. 2 10 of a up by percent. Steady for now. And the commodity we are really watching, copper. Seven 7ch million a ton . And emma chandra has first word news. Emma Hurricane Harvey hitting louisiana, making its second landfall today coming ashore in the western part of the state after dropping 50 inches of rain on southeast texas. It is blamed for at least 18 deaths in the houston area and Law Enforcement says 13,000 people have been rescued. 80 billion, hit making it the second costliest Natural Disaster in u. S. History. A warning from north korea, kim jongun saying the testfiring of a missile over japan was a meaningful gesture toward guam. He said he will watch the response of the u. S. Before deciding on further action. He is readying his military t
This is bloomberg surveillance and im Francine Lacqua in london. We are just getting some breaking news from the oil markets. Its 2017 lifting growth demand estimate to the strongest in two years. This is significant because we heard, i guess from insiders that opec, along with its allies, are also said to be discussing expanding cuts by more than three months. What does that mean for oil . The iaea says the strongest Global Oil Demand growth in two years. Brent, 54. 32. We will be speaking, right here on surveillance. In the meantime, it is time for you data check. We saw gains over the last couple days. These stocks are definitely rallying. Treasury yields are declining. The dollar snapping a two day advance. I will show you crude and the pounds, ahead of the u. K. Jobs data at 9 30. Reporter apple has unveiled its 1000 iphone, which features of rented reality and facial Recognition Technology. The company also rolled out an updated apple watch and tv box. The product announcements w
Expect sluggish growth. He said he wants to take that think about and rates. Oil is currently unchanged. It has been bouncing around all morning long. Yesterday falling to as low as 42. 75 a barrel. It is entering a bear market, the 21 to its peak, and dollar coinciding somewhat with oil. That is holding your a onemonth high, gaining as much as 1 over the past two weeks. Lets get an update on what is making headlines outside the business world. We are checking in with them on first world news. Has won theel special election for the house seat in georgia for the gop. She took 53 of the vote against democrats. Democrats have hoped to capitalize on debt President Trumps low approval rating. In london, the queen said the government will try to maintain its subtle relationship with european allies. She outlined Prime Minister theresa mays legislative agenda in her annual speech department. Queen carried on without her husband, prince philip. He was hospitalized for an election. In saudi ara
Gain in history. How much further can it fall . Multiples are stretched. Talking of that. Snapping up a skyhigh valuation. Snap trading today, getting a multiple that is twice as high as facebooks. Willens uy into will investors buy into the story . Matt people are watching closely. How why were less than a half hour from the opening european trade. Take a look at futures. Very little change here across the board and a little bit of a mixed picture after japans topix hit a 14 month high and as you pointed out, yet another alltime high on the Dow Jones Industrial average. That last 1000 points did not take very long at all. Take a look at bunds and my terminal. Were looking at a selloff again today in budns. Bunds. 286 is what you get for lending your money to the german government. We are looking at 0. 2 . We had some movement in bunds and stock. Markets are on the move. Guy they certainly are. Yesterday, your story about what is happening in the futures is significant to what im about