Inventories, a much bigger drawdown. A drawdown of 5. 9 million barrels, compared to the survey calling for a drawdown of 3. 1 million barrels. Whats happening now, Hurricane Harvey, of course, took refineries offline. That, of course, caused oil to be in less demand building. We are seeing a bigger build than expected. Gasoline not produced through the refineries. A bigger drawdown. He would not be surprised by this report because he thinks some of the economists surveyed probably did not have the u. S. s exporting activities influenced. We did not the ports were closed, so we were not able to export or import oil. Take a look at the intraday chart of oil, not that much of a reaction, about 0. 5 on this report, first down day in five days. Has had a pretty big rally recently. Today, taking a bit of a breather. Sometimes it takes a while for the reaction to come in. Lets take a look at the major averages, slipping between small gains and flipping between small gains and losses on the d
Replace the president s friend as she replaces the finance chief. Is 8 00 a. M. Across the emirates, 4 00 a. M. In london. In hong kong, just past noon. Welcome to labor markets middle east. Lets take a look at the state of play on the markets. We cant ignore what is happening in the u. S. , because thats whats driving the sentiment we are seeing across the board in asia. Trading for almost 20 minutes, down close to 1 . As you can see, despite the topicshaven of the yen, is also down more than 2 . It really is all about volatility as a result of the latest paul showing trump in the lead. Manus yeah. C onink if you go to ele your terminal, you can pick up the sentiment. This is very reminiscent of what happened in the 10 days before brexit. If we look at the bank of america volatility chart, youve mentor rumpall trumpometer, dollarpeso. This is in the five days. I took it back a little bit further. If we go back as far as june, you can see volatility is nowhere near where we were on bre
Index wasn the dramatic. That fed decision was more dovish than expected. Downw all those dots come from a weaker dollar, lower yields, higher stocks, but the markets could not hold on to their gains. One thing that did catch my eye was price action between the ratesensitive sectors. Utilities were declining ahead of the fed when yields were sinking. When bondto gain yields are falling, then get a huge bed when the fed dovish decision crushes yields. Werentrast, the financials a bigtime heading into the decision, then crashed. Market behavior you dont think you would see, but one reason financials mightve caught that bid is the yield curve. The 10 year yield fell by less than the two year yield, that is generally positive for Bank Net Interest margins. Joe lets take a look at those intraday charts, sharp moves with a twoyear yield, falling. 67 , close to the lowest levels this year. Obviously there is no market not looking for an imminent hike now. Lets take a quick look at the 10 year
Markets. The dow swings 300 points. But todays futures are pointing to higher open. A vote could throw the imme menation of the bailout in doubt. Japanese stocks closing in the red despite optimism for the bank of japan. Growth is returning but they will keep a watchful eye on china. The reaction by european stocks this morning is a negative one as you can see. Were seeing red particularly in italy down 1. 34. Now the reaction was sort of simulate yesterday in the u. S. We didnt see a rally, certainly. It was sort of mixed to down and we are expecting a bounce back today for u. S. Equities. The dow expected to open up about 10 basis points. S p similar and the nasdaq just above flat. For this negative reaction weve seen in europe and the u. S. Since the fed meeting yesterday bear in mind that were still in positive territory for the week as a whole and follows stronger performance last week as well. Yesterday a big bounce of volatility toward the end of trade after we saw the fed move
For now, thats the latest from the breaking news center. Action news will continue following the very latest out of oregon through the night so we can bring you the latest developments. Starting at 4 30am on good morning las vegas. An update now. To a story. We first brought you. As it was breaking. Chopper 13 first. Over the scene aftermetro police shoot a man they say at 11. People in their homes when the shots rang out are speaking out only to action news. Are you feeling lucky . Yes i guess i am because it was right in front of my house, so at least the bullet didnt go inside the window. Action News Reporter mahsa saeidi is live in front of the home where this all went down. Mahsa . maria guerra, witness its very very scary. track vo all chopper please. Closeup of car. track vo all chopper please. Then closeup of homes chopper 13 first over the scene. The stolen honda ditched. Police say the thief inside had a gun as he ran for cover into this neighborhood filled with children mari