Replacee house could Rex Tillerson with cia chief mike pompeo, according to people familiar. Less than half an hour till the european open. Lets look at where futures are trading. The indications are that we will have a positive open on the butinent, a drop in london, really very little change as you can see. 01 on the1 dax futures. Anyones guess. Lets look at the gmm screen. Yesterday, there was a lot of Movement Across Asset Classes. If you look at equity indexes, the s p 500 had a fantastic way because it looked like there was going to be Real Progress on the tax reform debate until the evening last night when we hit stumbling blocks. The markets were bullish into 500. 8 , the ftse was down. 9 . We saw such a strong pound yesterday. Currencies, the Canadian Dollar is a gainer up. 25 against the greenback. The Swedish Krona a big gainer and the bloomberg dollar index down against all of the pairs we look at. You will see that theme throughout markets today. Dollar weakness. Lets see
Julie hyman is here. More records. We have had many of them this year. Pretty remarkable. The down the s p close to records yesterday. Any gains today would represent more records on a closing basis here. Terms of gains, we have telecoms, financials, and health care leading the pack. Wavering between gains and losses. A pairing of out of the gate it appearsmorning, to be energy. Vonnie mentioned the surge of energy and now prices are going down. Nowave got a big leg lower and we saw so Similar Movement off one third of 1 . We have been looking around for what is going on exactly and we have the latest data on stockpiles in the u. S. Not the latest but rather reserves that showed a little balance from a 13 year low. It is not clear exactly what but we are seeing oil may be a little more delicate. Were taking a look at what is going on with media as we continue to get reports disney is getting ever closer to a deal with 21st century fox. Yesterday, it was no longer interested in those as
They . Marty they dont. I dont know that many people went through lesters tax returns and tried to my newly minutely figure out how this affects them. It will have a Significant Impact for certain high income earners. It will have a Significant Impact in terms of more taxes paid rather than less. For the ultra rich from it is a significant tax reduction. But as a percentage of income, it is very small. What really interests me is the unintended consequences. No one really knows. They did not have a lot of public hearings, they do not have a lot of experts telling them that if you do this come this will happen. In some ways a crapshoot how the real world will react to these provisions. Mark polls show us it is not popular. Can the gop turn it around . Mitch mcconnell said that if we cannot sell this to the public, we are in the wrong job. Can they sell it . Marty i think they can come actually. I think Mitch Mcconnell is right. In advance oflls the tax bill are reflective of the general
Manus warm welcome to the show, the first of 2018. What does they year hold for you . Do you want to have a haven . It is the year of the dog in japan. What does it mean for markets . Will we see more Financial Market tremors . Last year posted the best performance since 2009. The japanese are on holiday. You have the msci excluding japan. It beat the estimates. Ofve got a question mark from china. Umbers philippines remained in expansion or a territory. Expansionary territory. It is a big week for markets. Hint this translates into bitcoin. This is where bitcoin started a year ago. 998. We are starting the year with a decline. It is the first year we are seeing a get in bitcoin since 2015. Estimate is around 15,000. You have competition from ethereum and rebel. And ripple. Deal,ficit with the tax along with the balance of payment numbers in the u. S. This might give you Something Else to hold onto. The dollar positioning turned long for the first time in six months. If you are looking
Manus a very warm welcome to the show. Oil is rocking it out at 70. This is the state of the play on the wrist radar. You have got asian equities rising. In a good all of the markets up. It is Martin Luther king day in the u. S. We are approaching the selffulfilling prophecy of growth. Japanese markets are rising, even though the yen is driving. The is continuing to rise on the back of kurodas comments. Will softbank go for the idea . In here. N, its kuroda expects cpi to pick up to the 2 target. Japans economy is expanding moderately. What happens next for the bank of japan . That is what the markets are asking themselves. They are asking the same question of draghi. Cabele rallied by nearly 1 on friday. Youre hitting postbrexit referendum lies. What could spoil party . It could be the germans. They could get rid of all of this euphoria with a softer brexit. That is the risk in the market. Though i have to hand it to ing and mr. Patel, 1. 59 looks moderately more possible than 1. 30.