Recordtying sixth u. S. All around title if that does not impress you, just think about this, she did a double twisting, double summer salt dismount from a balance beam unreal its monday, august 12th and Worldwide Exchange begins right now. Good morning, good afternoon or good evening and welcome from wherever in the world you may be watching im brian sullivan. Happy monday well, at least for now we are seeing a little of the craziness for the recent market moves take a break to start the week, although li will say this, futures are now down they were down 50 points just about 15 minutes ago then we had the headlines about all flights being cancelled out of hong kongs airport and saw futures take a leg down. We lost 75 points like that. You never know whats going to happen the rest of the day in the bond market, bond yields remaining a little steady. The bond yield still on the ten year very, very low at 1. 685 again, this is what you want to watch, 1. 59, 1. 65, the twoten spread that
Beijing. Yvonne it seems like the stress of the markets easing off a bit, which is a good sign. It is how you read the sentiment. Is it that the valuations are overstretched, uncertainty over tax reform, also, is it just the end of the year and traders are closing their books . It seems traders are using this opportunity to buy. Betty it seems to be the mantra you keep hearing these days. Adding to the media mentions of buy the dip. These markets have been going up and up it is about time for a correction. It would not be a surprise. He seems to be in that camp, once we see a correction, it is time to buy into these markets. We will see how it plays out. In the meantime, lets get to first word news with courtney collins. Bhp says litigation continues disaster, butg warns insurance will not cover the extent of its liabilities. Andrew mackenzie told investors investigations in the incident that killed people in brazil. There is a degree of urgency in withdrawing from u. S. Shale, and he
Headquarters. We have a great show lined up for you today at 9 30 we bring an interview with the ceo of the worlds secondlargest Catering Company. We bring you the interview live in paris. We are getting some breaking news. We have a german and employment falling by 7000 in august. Even in august, postbrexit, the german economy. S stronger than we thought the italian on appointment is worse than expected. On to the market. Treasuries are set for their biggest loss since june 2015. We had a lot of hawkish rhetoric from fed officials. The dollar reviving. Also that is weighing on metal prices paid oil swinging into the bull market. Chinese shares leading gains an old global equities. European equities gain 0. 3 . You can see unemployment we will have to look at the participation rate. The Unemployment Rate is better than expected. Lets get to bloomberg first word news. U. K. Prime minister marks the end of summer. May and david davis have chosen to not flesh out in public details of the
Highs. The s p was having quite a rally since thursday. Remember the bottom on thursday. Thats when we heard the uae minister trying to create a halt in production or discussions about that. Since then the markets rally close to 70 points. Really very impressive. We saw all sorts of things turn around on this. The oil rallied and u. S. Bank stocks again are rallying today. So the big names, bank of america, all leading the market up 2. 5 on average. Defensive names, all the stuff that was doing well last week are down today. Your Telecom Stocks like verizon are lagging. Your utility names and consumer staple defensive names are flat to down. Its important to reiterate how much stocks have rallied since that bottom in the middle of the day on thursday. If you look at a group of stocks, bank stocks, citigroup is almost up 12 since the bottom on thursday. Big Global Industrial names like General Electric and caterpillar are all up 4 to 6 . And even exxon and chevron were up 5 or 6 or so a
Other numbers. We are watching the banks of this morning after the ecb cut the stress test results. Here are 2 of the things they need to raise capital. Bank with oneal billion euros and the other is carige. We are waiting for a price as they come through and we will flash at the bottom of the stream touchscreen. We are watching another bank. It is one of the nine things in the country that failed the stress test. We will bring the share price as it comes through. We are joined by the ceo, giuseppe castagna. Great to have you here on at the show. I need a bit of your health. The ecb said you failed the stress tests. They said you have a capital gap of 66 Million Euros in the bank of italy said, it is a surplus. Which is it . Hi, good morning. Thank you for your question. Things needny other to clarify i think many of other banks need to clarify. At the same time when the ecb and Different National authority and an outcast, the bank of italy. Ecb wanted only to consider the result of 20