Investors raise a glass to remy sending shares to the stop of the stoxx 600 it expects demand to bounce back in the second half of the year saudi arabia and russia reportedly reaching an agreement to extend the counts for another month but will still be held today. Lets kick off with fresh data crossing the wires. Weve got uk car registrations coming in for the month of may 89 lower year on year to just over 20,000 unities. We are looking at a picture of sterling versus a dollar recently trading coming off 60 basis points the auto sector selling off quick sharply. A few Different Reasons for that part of that the reversal for the trade come together in the last several sessions. Part is to do with the german stimulus package unveiled in the last 24 hours. Let me give you more detail. German stocks making autos the worst performing sector in europe after the package announced overnight failed to provide must feeding help. Providing a raft of measures including help for electric car buye
As we await sessions, lets bring in elevation parters in Roger Mcnamee this morning, sar sar sarah fagen and elan muy lets set the table for what we expect sessions to say the white house wants to end this program and it looks like there will be a sixmonth delay before it actually phased out. The big question that sessions will have to answer is exactly what will the end of the Program Look Like . Is it a shutdown of daca for all the people would are currently receiving those protections and benefits or is there some sort of phaseout that could allow people some perhaps grace period before they see those benefits run out and before they can face deportation. Quickly here, sarah, we expect the ag in a moment, people turning their attention to what were expecting to be a six month period for congress to react. With now a number of new obstacles in their way what might their calendar look like the calendar is getting more crowded and certainly with other issues before them this is not a g
By 15 points lets look at overnight in asia. The nikkei going strong closing at the highest level since 1996. A gain of 132 points that puts the nikkei at 20,823 hang seng was up by 0. 6 pfr . The shanghai was up by a quarter percentage point in europe, you will see that at least in the early going things have been mixed. These are modest moves in spain, stocks are under pressure down by 0. 9 this is coming as some concerns arise in catalonia. Well talk more about that in a moment we have news just out from the National Federation of independent business, showing Small Business sentiment dropping in september. The nfibs monthly index dropped to 103 for the month, that compares to 105. 3 in august. The group saying the immediate temptation is to blame the hurricanes in tex and florida but adds this is not case with Small Business owners across the country becoming measurably less enthusiastic but also points out the index is high by historical standards. Also in energy news, opec secret
Mining giant could write down as much as 7 million when it releases results tomorrow. And chinese regulators clamp down on everbright securities after causing a market spike on friday and admitting human error in a false bond trade this morning. Announcer youre watching Worldwide Exchange. Bringing you Business News from around the globe. Sticking with the everbright story, we just got flashes out saying that China Everbright securities is planning to sell assets, raise money through various channels to cope with the fund shortfall. This is according to an executive of the firm. Remember that everbrights trading arm has been suspended after the trading glitches on friday. And again this morning, chinas everbright securities saying that human error caused the mistake in the bond trade on monday morning. So tough times for everbright securities out in china. Again it has said it wants to sell assets or has to sell assets to raise money through various channels to cope with the fund short
Also sac is firing back at the u. S. Government. The wall street journal reports the firm sent a memo to all employees with a rebuttal to allegations that steven cohen failed to take proper steps to prevent Insider Trading. Sac says that evidence shows that cohen didnt read the email at the center of the allegations. That email in question is from august of 2008. The s. E. C. Says it reflected, quote, clear possibility that information about upcoming dell earnings was improperly obtained. The government says the email was forwarded to cohens office and home email addresses. In a report prepared by cohaens lawyer says that so many emails landed in his inboxes that he opened just 11 of them. Interesting. Dow component, dupont, if you saw the top of the hour, i dont know, i recorded something about it. We knew it was coming. Alan coleman will be on the show later today. At this point, it is either a there is some stuff in here. Some net numbers just one net number, 1. 11. The street 1. 27