What we are looking at is a sixmonth chart of the s p 500. We are looking at treasury note futures in white. That is actual price. We see coming out of june we have treasury note futures basically flat and rallying. Stocks went sideways. In september ec a strong downtrend. In todays pullback for bonds ec the downtrend really holding. It could just adjust. December could be what history are,sts decembers relatively strong. Michael one thing we dont talk about is the indian stock market. Etf trading today, msci indian etf is a standout. Very strong move today. Indiaof speculation the bank will cut Interest Rates by 25 basis points tonight. One thing that really stands out you look at the benchmark index in india is its evaluations. It is trading near a record local currency basis, but the evaluations have really sort. Index not trading in more than 29 times trailing earnings. You can see the top line. What is more interesting is the evaluation taste on forward earnings, the lower line. I
There is a little bit of a lift to the market. If you look at the stoxx 600 gaining 0. 3 . Jobs reportg at the and whether that means the fed will have to cut a little bit more support the u. S. Economy. Thats after the energy weak in russia where Annmarie Hordern did a great panel to figure out if opec cuts will stay in. The euro is on the back of a little bit of brexit news. There was a brexit delay or even the possibility of a no deal. Coming up, we speak to the oil minister of the biggest opec producer. Dont miss our exclusive interview with nigerias new petroleum minister. But get straight to bloomberg first word news. Obviously is retiring after fullyear results in february. The upstream chief replaces him. He caps a 40 year career with bp with nine as ceo. Xi jinpingp says should investigate the biden family for remarks the remarks coming after reemphasizing his call to the ukraine president. Was just as bad as in ukraine but offers no evidence. Global news, 24 hours a day on ai
Lacqua in london. Lift to the stoxx 600, data from around whattivity jay powell is doing. Dollar weakening for third day. Crude oil 60. 60. Makesort saying surplus return despite opec cuts, whether that means they will come further is something we will watch for. As operators in the gulf of mexico are bracing for Tropical Storm barry, giving pressure on crude oil prices. U. S. 10 year yield at 2. 12. Coming up on bloomberg surveillance, the allstar lineup today. We will talk about deals in the banking outlook. We will speak with Philip Hammond. This afternoon, we sit down with the ford chief executive. Breaking news. Arkey says it has received Missile Defense system from russia. U. S. Threatened to punish turkey over the purchase. Washington says the system is designed to shoot down nato aircraft. Goldman sachs warning of u. S. Intervention in the fx market. It says president trumps about otherplaints currencies is highlighting u. S. Policy. Now the u. S. Could forcibly weaken the doll
The drumbeats loader for rate cuts. Southeast asian leaders walking a fine line in the simmering trade war. We will bring you more from the meeting in bangkok and more with the Prime Minister of malaysia. Looking at how markets closed, it was a turbulent session not only because we saw the iranu. S. Tensions escalate but because futures and options expired on the same day on quadruple witching day. So at one point it was an intraday record high but then we thought ending. 1 down lower. Led by real estate firms. The dow falling. 1 as well after touching a high we have not seen since october. We had Energy Stocks gaining ground, the biggest on the s p 500 as we saw wti gain 10 last week on middle east tensions. At. Futures not doing much the moment. Lets see how we are shaping up. Sophie on friday asian stocks faltered but the benchmark managed to pull through with the best week of gains since january and this monday we have a lackluster start ahead for asian shares, kiwi under pressure.
At a joint News Conference alongside european commissioner president Jeanclaude Juncker as, hemanian president han brought up the issue of brexit. The withdrawal of agreement open for be renegotiation. We look forward to working together with the next u. K. Prime minister. We want to avoid the dissolving of brexit and establish a future relationship and stay as close as possible with the u. K. Europe relations [inaudible] mark comments came after European Union leaders held a twoday summit in which they failed to reach a deal on candidates for the blocks top jobs. Vice president and has postponed his speech planned for monday criticizing chinas human rights record. The Vice President says he and President Trump decided the speech should be delivered after mr. Trump and chinese president xi discuss trade on the sidelines of next weeks g20 meeting in japan. President trump has repeatedly threatened additional trade tariffs if xi refuses to talk with him. Uns labor agency adopted its firs