A lot of things going on at the index level, macrolevel. Look below the surface and there are some really interesting trends. 4. 88 . The reason for that, it has had to stop a kidney failure study that is being done early. That sounds like a bad thing. It is a fantastic thing, this thing is meeting all its goals early because of the success they are having with this drug which seems to be multiplying the number of things it can treat right now. Nova goes higher. If you are in the dialysis business, this is not good news. Down a little bit more earlier on. It is these kinds of clients that are providing some really interesting single stock opportunities right now. On the index level, we go nowhere. Alix something that hardly say, youre totally right and you can see that reflected here as well. Lets look under the hood for a second. Exxon is down by 4 , continuing to roll over here. Interestingly, one of the bestperforming stocks is caesars. You wouldnt think they would be doing so well
The previous three sessions. Nymex crude, another reason that we could see stocks rally into the close. We are watching the Energy Markets very closely. We have had a monster of a deal today. It agreed to by pioneer for nearly 60 billion. It will make exxon by far the biggest player in the permian basin. Heres what the ceos of both companies told us starting with the pioneer ceo. Guest you have to become a diversified company. The question is do we do it ourselves or become part of a company like exxon mobil . I think exxon has the best stock of any of the diversified companies, the best Growth Opportunities and for this transaction, shall companies cannot survive on their own long term. They will have to merge up and become part of diversified companies is my general opinion and this should happen over the next five years. Will it be like private guys getting together or what you did reaching for exxon that has a huge reach all across the globe . Guest as you know, there are only two
Grimm euro data coming in. Credit data following the most since the euro crisis. Not looking great. German 10 year yield resumes up to basis points, the highest level since 2011. We reassess with the fed is going. European stocks also falling a third of a percent. Risk struggling. Today seems like we would have a pause but we are still going down. Alix cameron price put it best. Sentiment stinks. Abounds in s p futures but you know, we are not really going anywhere. The followthrough buying, not so great. The vix, weve seen a real move over the last few weeks. Skip crude. 10 year yield up one basis point. We talk about premium. We will discuss. Are you being compensated to take risk . Crude up 3 . If you look at the curve, that front month price for oil has rerated higher in the last four weeks. That raises questions in the market in supporting energy stocks. 93 is big for wti. Is that sustainable . Dani i have a chart of the term premium. New york fed, calculated a complicated matter.
[background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had created on diversity and inclusion. But we are going to talk about what it means to have this wealth gap. You are going to talk to some people who are dealing with clothing this wealth gap have to cl
Data, lvmh up 2. 5 . Luxury stock stood well. Tech stocks did not do well. That will pass through with names like asml. Alix we have a pretty decent selloff. We have the umich data, with mixed signals. You are seeing adobe is the worst performing stock. Analysts feel their guidance was conservative. Arm is taking a break after that 40 pop. But nothing super dramatic. This is all but the overhang of the uaw strike. Guy we are also watching the dollar continued to climb. The euro is the biggest casualty. It is in for its ninth week of decline. At the moment, we seem to be in a position where the market is beginning to focus less on the rate differential, the market is focusing on the growth differential. If you look at the Growth Numbers being announced out of the United States and europe, that does not bode well on where the euro goes next. Parity does not sound that farfetched anymore. Alix this is the interview after the meeting with the ecb yesterday. We are on the right track and i