The stoxx 600 is up 2 10 of 1 . 1 ,ftse 100 is up 4 10 of the dax in germany down about 1 10 of 1 . Banksalian and german dragging things lower a little bit in the continental european countries. 1. 2228,pound is at weaker by one third of 1 . We will ignore the europound for a moment, but we will have a look at eurojapan, 143, and ever weaker japanese yen when it comes to the u. S. Dollar but not the british pound. At u. K. 10 year yield is 130, germanys 10 year yield at 21 basis points and unchanged. The spread between the german bunds and the u. S. Yield is widening. The italian 10 year yield added on about another 50 basis points. 90 minutes into the u. S. Trading day so lets get the latest from Abigail Doolittle. Abigail after gains and records yesterday from u. S. Stocks, we have the major u. S. Averages all trading lower. Seems like a firm directional cue to the downside. The dow is down the least but doubt 20,000 has the much happened. The s p and 5000 the s p and nasdaq down. P
Lets get you up to speed. Heres caroline hyde. Caroline good morning. Stocks have soared in tokyo, with the topix posting its biggest gain in six years as Investors Show that japans economy trying less than expected last year. Chinas trade numbers for january underline challenges facing the economy. Exports fell and imports declined after a trade surplus of more than 63 million, the biggest on record. The figures suggest that the currencys depreciation has yet to boost competitiveness of chinese industry. It is president s day in the u. S. Stocks and bonds markets are closed. President obama will be at work, greeting leaders from Southeast Asian nations for their first u. S. Summit in california. Hsbc has decided to keep its Global Headquarters in london, claiming u. K. Is an important and globally connected economy. Hsbc has been based in the u. K. For 23 years and said remaining there is the best option for both customers and shareholders. Get world news 24 hours a day. Guy thank you
And crude reality. Discuss 20 per barrel in that it if that is off the table. Here is what is getting the going this morning. Im kind of looking at it, im fairly underwhelmed delegates a regional bias. So how am i viewing what is going on in china. Its another factor that he has got to think about. Clearly they showed robust job growth. The question is really one for steve major. Is the policy diversions basically priced in. Thats a key question. You see no doubt from goldman that the shares are pricing in but not much more. Here is the thing. If draghi disappoints this week you could see one heck of a move. We saw what happened in the european curves. This week, its one of the more pivotal that we have seen so far this year. We are 28 minutes away from the European Market open and at this stage we will have a little bit of disappointment in terms of the market. Let me show you the fair value calculation down by around 0. 4 . You get this line here. Its a smart piece of technology and
If you look at the s p, for example, we see an awful lot of town seen around. It has been in a very tight range. It has gone up and down the line at least half a dozen times during this session. If you look at oil and stocks today, you can see to some has fared much worse. Earlier today, it was faring much better than stocks, now it is doing much worse. 2 2. 2 . Own do we thinkhat cause of that reversal, julie . Julie it is unclear. There is a sort of this directionless feeling and we do have a job report tomorrow, so that could indicate the direction of the stocks, that we cant thank the dollar for the oil downturn because the dollar is still weak. I should say is lower by 6 10 of 1 . Now we do have a lot on the corporate front in terms of earning reports today. We have Royal Dutch Shell out with its earnings and it had a smaller earnings that we hav e seen from its competitors. Weatherford international is saying that its cash flow is going to be better than estimated. Itshe same tim