737 max reportedly set to return to the skies it is monday, june 29th, this is Worldwide Exchange right here on cnbc well, good monday morning, good afternoon, or good evening. Welcome from where ever in the world you may be watching us thanks for starting on cnbc. Lets get to the money on your markets and futures. Theyre upcoming off a fridays hair cut dow futures implied up 135 points the dow falling more than 700 points on friday dow and s p 500 look on track to snap two month win streaks although we could turn it around tech also taking a beating on friday but its still been a great run so far this quarter. The big 5 fang stocks up an average of 29 since april 1st all of this ahead of a shortened trading week the markets are closed on friday for an early start to the july 4th holiday. Hard to believe that were already approaching july 4th anyway, treasury secretary and fed chair jay powell are set to testify on capitol hill tomorrow with the minutes of the latest Federal Reserve me
Itsco prepares to make trading debut in riyadh. Reports say it is considering a secondary listing in asia. I want to get you to some breaking news out of new zealand. We have a fiscal update for you. They are cutting the Budget Surplus forecast. It now sees a budget deficit in 2019 and 2020. And smaller updates after that, specifically 943 million deficit. This is a previously forecast billion dollars. Returning to forecast the following years, but only just. Forecast was for 2. 1 billion. Growth of 2. 1 seeing a sharp wasward revision from what previously forecast as well. 2020 is an Election Year from new zealand, too. Just some headlines there. Thats get straight to the Market Action with Sophie Kamaruddin in hong kong. Sophie lets kick off with tokyo. Topix withand divergence. The end is Holding Steady. A bunch of event risk including the u. K. Election and the upcoming fed decision in hong kong with that tariffs deadline on sunday. A 10 year yield hovering around zero. Lets switch
Disney and merck are your dow leaders. We could get a deal this week for disney to buy much of foxs movies and tv assets a good day for some energy names like chesapeake, newfield and haliburton u. S. Employers posted fewer job openings nearly six million jobs were available and total hires rose 4. 4 prz. Brook Field Properties 14. 8 billion offer. Brookfield is considering a new offer. Ge announcing its Power Division will reduce count by 12,000 we begin this hour with bitcoin moving higher today after this weekends roll out of futures trading. Bob joining us with more important thing is its finally trading. Take a look at where the coin is right now. 17,000 area. The important thing weve got it out. This is the futures contract were talking about. Opening 15,000 its trading at a premium to the underlying cash. Not a lot of people are allowing it lets review what a futures contract is. What do we do when we get a futures contract its an agreement to buy or sell a commodity or financia
Welcome. It is surveillance. Im manus cranny. Lets check on the markets. One view we have had dominating through the program is that inflation will recast itself during 2018. The market has the biggest long bets on bonds since 2004. We have got the three month yield here. That is driving the debt ceiling anxiety, shortterm investors demanding more. The bit to cover ratio, the highest stopover rate since 2008, and the lowest bid to cover ratio since january, 2009. But the asian equity markets and European Equity markets, rallying. Taking the cue from the commodity market. Copper is bid. Oil is bid. An overalleing move higher. Oil, we did make it above 60, i assure you. So, we traded post the close up at the highest levels since 201 5. We have the libya outage. Dont forget, we had the u. K. Outage a couple weeks ago and that spoke to market. This time it is libya, 100,000 barrels a day is a good be taken out of the supply chain as libya has an outage. More on that pipeline explosion a li
We will talk to the man himself, jeff currie, later on this hour. I want to talk about what is happening in the u. K. , take a look at sterling. Marcel barnier says a brexit transition is not a given if a decent agreement if a disagreement persists. David he says never mind. Now lets turn to our top two stories. Jeffrey gun lock is right all along, the the 10year yield. L on the 10 year and keeping the government open. Lisa joining us is abramowicz of bloomberg you have the 200day moving average with the s p starting to flirt with that 200day, and that goes to be correction we have not seen in a while. We bounced off the 200day twice in 2016. Luc, have we found the bottom . I am not sure yet. Lets check out another chart. We were talking about early in january, world equity index euphoria, right now, looking at my terminal, s p 500 members are overbought. 0. 4 . The shares oversold up to about 1 3. It might be good news of a contrarian indicator, but around these time, the chinese deva