Will it make its way back to zero . Seems to be part of the conversation building in markets. Barrelumped above 65 a as supply disruptions in iraq brought concern to geoPolitical Risk. With more is Annmarie Hordern. Detention we are seeing in libya and iraq come very different in nature. What is the impact of these on oil supplies . Annmarie they are both geoPolitical Risks to the oil supply. In libya, the government says we could go to 72,000 barrels a day. This has to do with the eastern military commander. He has a blockade now on the port, so actual supply is not disrupted. The market may be shrugging off a little bit because in days or hours, that blockade could be lifted. Iraq, while it is a minor disruption, which is producing more than 4 Million Barrels a day, it opens up a window of worry. Just last thursday, the iea says iraq remains very vulnerable. It is more about could the supply threatened become much bigger. Anna they are overproducing their opec target. Annmarie this c
After the judge turned down his bed, assange said he did not understand the proceedings and said the case is not fair because the u. S. Government has unlimited resources while he does not have easy access to his lawyers or documents he needs. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. It is one 00 in new york, 6 00 in london, 1 00 in hong kong. Romaine bostick in for vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and from around the world that we are following. U. K. Prime minister Boris Johnson denied a second vote on his brexit deal but there is another crucial vote tomorrow on the divorce plan. Goldman sachs dealing with an unwelcome string of insider charges. Mixing business with politics. Facebook Ceo Mark Zuckerberg privately recommending several hires to Pete Buttigiegs
Canary islands in spain, allowing firefighters to make headway in battling the massive firefighters. Fires. Emergency workers evacuated more than 9000 people. The fire, described as a monster, began on saturday. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. York, it is 1 00 in new 6 00 in london, 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories we are following. Show me the slow down. Boston fed president Eric Rosengren says it is not up to the fed to make up for weakness in other economies. We will look at sentiment heading into this weeks jackson hole symposium. Watchdogs are rolling out the long anticipated overhaul of the volcker rule. Streaming wars are gearing up. Rollout itsto script Fiction Services by november, the companys first mediaay into subscriptions.
For the majors. We have the s p 500 and the nasdaq ever so slightly higher and putting in new alltime highs and the dow down very slightly. Of ate the third day Government Shutdown, investors not seeming to care. Yet another round of record highs for both the s p 500 and the nasdaq. David over at mainstay capital says that they are desensitized to drama in d. C. , but the conditions for markets are over. That may suggest a 5 to 10 pullback is ahead. If we happened to the bloomberg and take a look at g btv to a 83, the last shutdown was in 2013. At that time, the s p 500 did drop about 5 . The rsi or momentum indicator had been overbought. At this time, we have the s p 500 5 above its 50 day moving average, suggesting conditions are overbought. Take a look at the rsi above 80. Katie stockton, the head of technical analysis, saying sentiment is overbought. She sees a 5 pullback is left. It will be interesting to see what triggers this. A lot of agreement that conditions are overbought. V
Funding deal, or have they kicked the immigration issue down the road . Value tops 100 billion. Shares surge in afterhours trading. We are less than half an hour till the start of cash trade. Lets take a look at where futures are indicating we could open this morning. Gains acrossg at the board and ftse futures are up. 4 . Ax futures indicated to open percent higher. The percent mispriced a little lower, but it looks like a positive day in europe this morning. Treasuries, ive got a threeday chart on my terminal. We have been hovering around the 2. 36 level. It looks like treasuries have been in a tight range the last three days of trading, but not low. 2. 63 is still a fairly high range. You can see the arrow there, the yield dropping a little today. Interesting action coming out of australia. Lets talk about that and the pound, which is on the move. The aussie market up. 7 , the s p pushing up 395 days without a five percent retracement. That is the longest run on record. Tells you a