Morgan chase asiapacific. Are one hour away from the close of trading for the day and the week. Desk head to the markets where julie hyman has been following all the ups and downs. Julie we will see if we have been closing out these multiweek highs. Of s p 500 in onto a gain. 10 . It was this push and pull of the betterthanexpected headline number and the worst and estimated worst than estimated wages number. Some say that was due to a calendar quirk come it that it didnt include the midmay pay period. Be that as it may, certainly Market Participants seem a little confused by the numbers and we have seen the s p 500 fluctuating in a relatively tight range. I want us to look at the best and worst performer in the s p 500 in terms of the index weighting they have. Apple shares rising today. Facebook is going lower. The company is going to be paying more in u. K. Taxes. If you look at it by groups, we have seen materials and energy gain. They are hanging onto gains. Utilities in the top s
Initially come investors were not so sure. Julie we were looking for direction and the jobs report did not provide it initially. Where it took a long time for investors to figure out what to make of the jobs report or there is Something Else going on driving stocks up. All three averages at their highest of the session. A commodity driven rally here. Energy and materials are the two bestperforming groups here on the imap. It is a broadbased rally, but those are the two standout groups in todays session. Oil and gas prices are both higher today as well. Crude oil up 3. 6 . Natural gas finally seeing a bit of a rebound to that 17 year low. One of the can to beating factors, likely is the jobs report and the idea that there would be more demand. We also got the baker hughes weekly rig count, falling for the 11th straight week. We will be seeing talks on a production freeze. It is a tail wagging the dog situation here in terms of stocks and commodities in the jobs report. There is the one
Futures little bit negative here in the u. S. On over in europe, 1. 3 . Y stocks 600, down almost 8 last quarter, switch on the board. Global market being reduced to what feels like one big fat trade. Stronger euro. Score card and treasuries ahead payrolls. Yields pushing higher by two bases point. Crude prices down by 2. 43 . The bottom one, bought to you by saudi arabia. Love these little. Ponsorship we will start getting money. Justt to point blackberry cents a, loss of three share. Lets get a check of the headlines. Starting with saudi arabia is getting ready for the twilight oil age by creating the sovereign fund. Themmed bin salman said fund will control more than 2 million. Asset will be shared. At the Nuclear Summit in the focus will be on islamic state. President obama will try to efforts from again oh keep getting nuclearettin facilities. And new york are with the first states with the 15 minimum wage. Approved in california the higher wage to take effect 2022. L by governor
Tom totally agree. Over the last two or three years, jobs has been pushed aside by the Global Economy, by the dynamics, even with brexit coming up, theres a whole host of issues coming up. Weve got the right guests coming up from u. B. S. Francine well have break news the last halfhour on china. The ministry of finance fighting back the rating downgrade that we broke on surveillance yesterday. Now lets get to the news. Francine, thank you so much. In washington, the focus is on Islamic State. President obama will try to rally interpret support for an effort to keep terrorist groups from getting a Nuclear Material and other weapons of mass destruction. Theres growing concern Islamic State may target nuclear tensions. Tensions over the south china sea. Indonesia will employ f16 fighters after chinese coast guard vessels clashed with indonesian boats in the area. Other forces will be stationed there, too. China contained 80 of the south china seas. The reopening of the Brussels Airport is
But will it be enough to win the general election . Markets close about two hours from now. Lets head to the markets desk. Julie hyman has the latest. Julie now its the Third Straight down day for the major averages. This would be the longest losing streak at going back to february before we be looking at the. Argest twoday decline not only did things turned negative, they have kept going. We have seen declines accelerate to some degree. I want to run through some of the earnings with winners and losers we are watching today. Lets start with a losers, since we are in the red now. L brands out with preliminary numbers that missed estimates. Those are some of the worst percentage moves we are seeing today that are earnings related. On the plus side, we have a techs of tax leading leading. We had some oil and gas losers and winners within that industry, earnings wise. That is the movers sunday earning front today. We are coming to a close. Now what happens . Actuallyocks have rally during