We start in the United States, with a Democrat Doug Jones this week delivered a stunning upset by beating republican roy moore in alabama. That since the Republican Senate majority to just one. Kevin cirilli joint to myself as the results came in. We are hearing he will come out and address his supporters any moment now. But the republican majority in the senate is razor thin, down to one vote, the number of votes republican can lose. There are host of issues, that is the only vote they can lose. With tax reform coming, this is the bottom line. Doug jones will likely take office sometime the week after christmas and before january 3. Tomorrow, President Trump is going to meet with a Bipartisan Group of lawmakers from the house and the senate on the Conference Committee to finalize the details of the tax reform package. If republicans want to get this done by the end of the year, they have to do it before doug jones gets up to washington, d. C. Because of that razor thin majority now is
This is Bloomberg Markets middle east. Im yousef gamal eldin. What a week we have had off the back of the fed decision, and a dozen Central Banks around the world. Here is how the u. S. Equity session closed off. The s p index, dow jones, nasdaq. This is on optimism about the proposed u. S. Tax overhaul. Theres also a lot more volatility, 74 higher volumes than the daily average. Theres another event feeding into this, quadruple switching. It happens every quarter, futures and options on indices and individual shares. Then the bloomberg dollar index, a story of a stronger dollar, up. 4 , a major move, a fresh session highend the fifth day of gains. The u. S. Dollar gaining compared to all of its peers save for the kiwi dollar, which led weekly gains. Lets crossover in show you the other key Asset Classes, relatively. U. S. 10 year uninspiring. Gold, up. 3 . But look, the reality is you have traders dumping bullish bets at the fastest pace in five months. Do people care about the dollar
Billionaire, outspoken and unapologetic when it comes to critiquing his nations neighbors to the u. S. Administration. That is where i started my interview. I asked how he felt President Trump has done so far on delivering on campaign promises. Jerusalemask me about , this is a decision the most stupid and wrong decision that could be done. Jerusalem is not part of the United States of america. Muslims, the jews, christians, everybody. This is a decision taken by the palestinians, by the people, not america. It will not happen. Yousef do you think there is worse to come from the administration and the United States from the point of view of the arab world . You said from the beginning this individual is a loose cannon. Moret become difficult in terms of u. S. Policy . He promised a few things. He pointed to build the wall, to deport muslims, destroy and the other thing. He has not done anything. Year, andember, one he promised a lot of things, and no delivery unfortunately. Yousef coul
5 billion this year. As donald trump insists he is the least racist person, the s minister calls him an asteroid of awfulness. This is Bloomberg Markets middle east. I am yousef gamal eldin in dubai. U. S. Markets close for mlk day. The Asian Session off to a strong start. The global map gives us the pulse. Gains in the hang seng, up. 6 . Asx 200 up as well,. 3 . On the foreignexchange side, a move in the mexican peso off the back of positive whispers around ,he future outlook for nafta the yen rising to a high against the dollar. Some of it on governor kurodas comments, but also Short Covering from traders. Interesting moves in commodities. The weaker dollar feeding into these trades. 1. 2 , leading the complex higher, even after china data missed expectations. Lets cross the board and let me show you other key asset classes. Brent crude, a lot of commentary , still new highest close in three years. More opec members calling for cuts to be kept through the end of the year. Story. Gain
Us why he is eyeing london and. Istanbul for market expansion. First, iraq has joined the united arab emirates, qatar, and oman and calling for opaque and allies to stick with their agreement until the end of the year. That is despite recent price gains. The deal helped lift brent above 70 a barrel this week. Iran has expressed concern. , spurring a renewed push from u. S. Shale producers. Bloomberg spoke to the head of the International Energy agency and the omani Energy Minister and then got more reaction from citi. Today, oil price is about 70. The Global Oil Demand will increase about 1. 4 Million Barrels a day. A lot of new Oil Production is coming from the United States, from brazil, from west of africa, from canada. A lot of oil in the market. We expect is lunch market in the next 12 months to come unless we hit prices. I think thats the point of discussion, because the focus so far has been in the supply side. We often dont discuss the demand side of the equation, and maybe we