The most in six weeks. Day closed above the 200 moving average. Brazil was killing it. European stocks also rallied. A lot of followthrough that we saw which can be constructive. Outlier, downe the most since january. All of these folks bidding for you and your stock is down. It hurts. Scarlet it does hurt. But it is a tracker stock for alibaba. The weakness. Lets get to those stocks you mentioned. The rally followed gains overseas. That is the biggest back to back advance since february. It also is above the trendline with 19 Industry Groups up over the today. A concentrated broadbased advance. 13. 8, 13. 9. The average is 18. Clearly we are far below the average. Amazing. In terms of the bond market a big story had to do with greece. 10 year yield falling below 7 , last july thes yield was 19 . Here in the u. S. The story is the yield curve continues to flatten. It has flattened around the lows of the year. The fed will hike in the short term. Longterm investors are worried about gro
Weeks fed rate debate . She is watching the jobs rate data. Changes in the fed thinking has been how attention is paid to global offense. Im prepared to be patient. Ramy big name guest dig into the issues of the week. I vote for just about any human being against tiller clinton. We have a lot of Development Activity to make disney branded films in china. Ramy it is all straight ahead on bloomberg best. Hello and welcome. Best. Bloomberg lets start with a day by day look at the top headlines. Federal reserve chairman janet yellen give a speech on the u. S. Economy and Monetary Policy. Its for the fed meeting on Interest Rates and days and fed investors hung on to her every word. That ittinue to believe will be appropriate to gradually reduce the degree of Monetary Policy accommodation provided that labor Market Conditions strengthen further and inflation continues to make progress toward our 2 objective. Basically she is saying the economy is strong. Its a repeat of what she set up at h
Australia, 1. 95 , a record low. The yields coming down further, market fear driving this lower, according to the senior strategists. It moved back into safety, really more pronounced when you look at the currency markets. If you had to pick dollar or yen, it would be the yen. If you had to pick the dollar and yen against anything else, you would pick both. Past 102 thised morning. What a difference. Before i go, have a look at this, pushing up. We are looking at more weakness in the renminbi. Just a key data point at want to mention. We saw the private survey in services, improvement in june. In other words, more optimists than pessimists. Yvonne david, thank you. Australias trade deficit was that it had expected it may, coming in at 2. 2 billion aud, the equivalent of 1. 7 billion usd. Rba sets the the cash rate later today with no change expected. For more, lets get to paul allen in sydney. Paul, the economists were pretty much unanimous on no cut, but its a different story for augu
I im in edwards. Manus and im manus cranny. Anna this looks to be a touch above estimates at the ebit level. The Second Quarter netted 312 million euros. This is a company we have to talk to about brexit. This is a business that operates in the u. K. What will they have to sell . They have said they will continue to invest in the u. K. In the immediate aftermath of the brexit vote. Two of their competitors merged in the u. S. Recently. We will be speaking with the asset manager at 7 15 u. K. Time. Manus the swissbased drugmaker netted 5 billion, just ahead of the estimate of 12. 2 billion. Sales will be broadly in line with the prior years. They are driving unchanged for the rest of the year. The core earnings came in at 23 billion. They have a huge amount of generic competition coming through. You can see Second Quarter sales beat on the headline earnings. The guidance is broadly in line with last year. They delivered a solid Second Quarter, despite the risk on aspect. This is one of
Evacuations going on in the area there is a ladder truck putting as much water as they can on this fire it appears it is still burning you concede what material stuck to the side of than there on the rooftop out here trying to get as much water as they can on this fire is obviously a building that is under construction. I Jackie Sissel to give you an idea of words that people know the ikea is just east of that ikea at the corner of 40th and san paolo right on the border of emeryville and oakland it appears as though this is a multi unit fire as far as a response in this light we have oakland and revell parlance san pablo lots of different agencies trying to fight this fire. James this section is shut down you can see the ambulance off in the distance. Jackie sissel that as of close looking toward oakland right there if we pan around to the left to consider is also calls presumably there may be some the vacuum rations i can tell you that appears to be an apartment complex fifth. Jackie