About 30 minutes into the trading day and Abigail Doolittle has the latest. About, globalked markets shaking off the effect of the italian referendum. Abigail we have big gains for the stocks in the usb at the dow, s p 500, and nasdaq are all higher. Offially there was a risk reaction, but really a declining reaction. ,f we go back to the brexit a big selloff, then a selloff and it reversed. The dow on pace for a record closing high. But the dow isng itsace for us fix for fifth week i. The s p 500 and the nasdaq are reversing last week losses. At 2041. Ok the shows the alltime record high. Two things, right here we have an area of consolidation. It appears the dow is breaking. Ut higher the dow transports, a less followed index, is actually also trading at an alltime record high. Would say that signals more strength ahead for stocks. Taking a look at Asset Classes, we are seeing a risk on picture here. We have the safe haven gold trading lower. Follows from that supply cut from opec la
Stocks are going to end. Ceo jimin charge, moran, joins us later in the program. First, markets. David in the markets this morning jonathan in the markets this morning, s p 500 futures down. Over in europe, a day of gains. The ftse up 510 and the dax up 1 10 of 1 . We will get through the other Asset Classes for you. Cable, big story. The pound at 144 as i speak and the euro at 1422. 47. 75. Ti up about 1 10 of 1 . Around the world and check in with our Bloomberg Team for indepth coverage of our top four stories. Mike mckee on a barrage of u. S. Economic data this morning. Guy johnson has details. Will kennedy is in london for the latest on the oil rally and home depot beats the street. We will break it down with matt townsend. In new york. Plenty of Economic Data including Consumer Prices, and housing starts. Michael mckee has great sense with his presence. This is all about inflation. How decisive will todays cpi really be . , for twot be decisive reasons. The feds target is based on
I think the conversation on brexit is continuing to shift but im looking forward to seeing whether janet yellen tackles this issue headon or dances around it. Tom i do not think that is a small idea and i believe she has got to. I would be stunned if she did not directly mention it. Day, Michael Mckee and i will do this at 1 00 p. M. This afternoon. Francine i wonder whether she will focus on domestic risks or international. Lets get the bloomberg first word with nejra cehic. Nejra a new warnings from George Osborne on the risks of leaving the European Union. In a speech he will say that brexit would lead to a 42 billion black hole in the budget that would have to be plugged with higher taxes and cutbacks. The eu is june 23 and recent polls show the leave faction is ahead. Hillary clinton has opened up a doubledigit lead over donald trump in the race for the white house. A new bloomberg poll shows clinton leading trump 49 to 39 among likely voters and 55 said they could never vote for
A big move on yen and we are watching the fed. Tom i am most focused on Deutsche Bank. Dropping. Ank was job it is just not happening. Francine that was pretty much expected and when you talk about not happening, you have to look thehe stress tests for European Companies and unicredit may be about to make some big announcements. It is now official, the democrats made history at their convention in philadelphia. Hillary clinton is the first woman nominated for president in a u. S. Party. Sanders madam chair, i move that the convention suspend the procedural rules. I move that all votes cast by delegates be reflected in the official record, and i move that Hillary Clinton be selected as the nominee of the Democratic Party for president of the United States. Taylor a few hours later, bill clinton told the convention that his wife has never been satisfied with the status quo and always wanted to move the ball forward. A 265 billions stimulus to prop up the economy. It is unclear how much o