The s p getting closer to its record of around 2130 on a closing base. The dow up about 67 points but the nasdaq has not managed to gain much traction on the day. Take a look at the s p since the record closed may 21. We are less than a percentage point away from that record close. It is 2134 if you are looking for the intraday record. We will be watching to see if the s p can rate attainment. Ain it. T but get back to the nasdaq as we have seen it bounce around. It is a tight range even though it looks like a big drop and recovery. Its seem to attract does seem to have tracked pretty closely with oil prices. The pattern that you see is quite similar. Oil still hanging onto a gain and holding above 50 a barrel. It has been a level that has been difficult for oil prices to hold. Also we are watching transportation stocks. They are rising at the same time that oil is rising. Thanks in part to the airlines. Pointing out jetblue has raised its domestic fares and other airlines have matched
Coming up later on the show, speak to the former u. K. Chancellor at 10 30 u. K. Time. First, today is the day and just a matter of hours we find out whether the fed will raise rates for the First Time Since 2000 6. A Bloomberg Survey of 113 economists have found just over half say they do not expect a hike today. That ties in with comments from Lloyd Blankfein and ray dalio. What to the markets think . Lets check in with jonn ferro. Jon no consensus. Nobody knows what is going to happen. That is the first time we have a live meeting of the Federal Reserve. When they sit around the table today, what are they going to be looking at . The good, the bad, the unknown. Unemployment down to 5. 1 percent. Potentially bad the inflation numbers. What is the outlook for inflation . How certain are they that in the mediumterm inflation goes back towards their target . Completee is a unknown. How did they factor in the global situation. What is happening in china . How conscious are they of the 15
Guy it turns out that i am sitting in for Francine Lacqua whose got laryngitis. Tom keene is off for thanksgiving. Happy thanksgiving, by the way. Hes projecting onto you. Francine here is the bloomberg first word. Fry mints french minister says it is possible the terror attacks could affect the countrys economic growth. Will meet hollande Vladimir Putin and moscow later for talks on tackling the threat posed by a mcstay. After the french leader yesterday pressed Angela Merkel for grearter commitment. David cameron will large prominent to back his plan to extend British Parliament attacks on Islamic State into syria. It is a move that is likely to split his conservative party and the opposition labor party. Yesterday, he told mps i. S. Presents a clear and present danger. Industrial metals have surged after chinese regulators were said to be considering a program to shortselling. Nickel, copper and zinc have rally. The euro has had a sevenmonth low as investors speculate the European C
Manus we turn to this on quite a frequent basis, but it is worth mentioning we are below 35 on oil. Stock crude is the highest since the 1930s. Commodities are getting crunched. Highan sachs is warning risk that the prices may even sink further, before we see a contraction in supply. And we are reaching our storage limit, according to the story this morning. If you are wondering about 6 aboveti is about the 100day average. Anna that is interesting, tying into what the fed this week to what they did with bond markets the recession with the commodity sector. What that is doing to inflation, the prices coming down. And Inflation Expectations are therefore coming down. That means we are seeing some of the long bonds on the long and end of the curve going up. An interesting grasp of connections all coming back to the commodity story grad. Manus post fed hangover or euphoria. Nejra the bank of japan has operational changes for the purchase of Real Estate Investment trusts. It will establish
Unemployment in italys still at record levels. European unemployment at record levels, near record levels. The markets are trying to make up their mind. The dax relative to the rest london up by 4 10 of 1 . Lets see if the commodities are doing anything. Three companies which caught my eye, vivendi delivered the numbers on friday night. The revised the numbers they revised the numbers because of an Additional Charge in regards to mortgage related litigation. Morgan stanley settled their mortgagebacked litigation last week. It prompted Credit Suisse to take this move. They have up their provisions upped their provisions for litigation. Alcatellucent will return this year and be paid cash. The ceo we will talk to him tomorrow. Caroline has him on her roster of guests. The bounty vivendi is down 4. 65 . They plan to return almost 6 billion euros to shareholders. What is interesting is the net income came in at 2 billion. That was 550 a year ago. Lets keep an eye on vivendi. That Share Buy