In mystery name . We get a minneapolis appearance from pete. Look forward to that but beginning with this. Breaking news in retail, the gap scrapping plans to spin off old navy shares jumping on the news. Lets get to Courtney Reagan with the details. Gap, inc, reversing the decision to spin out old navy into a publicly traded company, increasing guidance for the full year and giving leadership updates and a surprise announcement in the last hours shares popping on the news, they were behind be pulled become a bit. But they nounsed the gap pick art feng was out the separation was first announced at the end of february 2019 interim ceo Robert Fisher said while the object he was of the separation remain relevant our board of directors concluded the cost and complexity of splitting into two quips combined with softer Business Performance limited our ability to create appropriate value from the separation gap, inc, now expecting fiscal full year sales and comps to come in at the higher end
Polls. You can see that whats been doing not only here but overnight in asia. Lets look quick overnight in asia up see the nikkei up about 1 . Hang sepg up about a third of a percent. The trading in european equities right now where the polls are open in the uk. You can see the dax, the cac up about 2 . The fooths up about 1. 5. Italy up about 2. 3 and spain, the ibex about 1. 7 . Currency is where this is playing out. The undecideds. If you are undecided. The brexit people are like fantically brexit. The ones that are brexit they have been brexit all along. And if you are not decided yet you are not fantically brexit so you are a stay. Atically brexit so you are a stay. What i worry about is worried the markets price caught all this is now an asymmetric risk at this point. 148 top pound. Take look at the currency boards again. Sterling round it up. 148. 54. Crude oil which the markets have been playing so much attention to. 49. 84. Across the pond now. The top story and polls are now
Nearly 200 points. The dow, which was the worst performer yesterday, has been leading gains today. Value across the board, a broadbased rally. Materials and Energy Leading as we have underlying commodities rallying. Industrials, financials, consumer discretionary, technology, all those groups up by at least 1 in todays session. If you look at energy stocks, some of the percentage standards, crude oil up by more than 2 . Concerns about supply disruptions in libya and nigeria. Thehwestern is one of biggest percentage gains today. Financials are doing well. They are raising as we see little bit of a bump up in treasuries to not a big one, but enough to see an upsurge in the financials. Bank of america leading percentagewise. Broadbased rallies. Any hidden movers . Julie agriculture. Alix steel would not say they are hidden, because she was excited about the usda Crop Forecast for the globe. The indication is that the global glut will not be as bad as feared. , potash, agrithem all trading
Sinking 6. 5 . Lets take it by the clock. When i got up this morning, the futures, they were down hideously. And you know i get up early. A couple of reasons. Both chinese imports and exports showed chinas decline in Growth Continues to accelerate. Weve now had 13 straight months where chinese imports slumped right in a row. No wonder copper is in free fall. No wonder theres no place to put aluminum and steel. No wonder irons under 40. Nickel, zinc, i cant even look at them. Its just bad over there now as the economy frantically switches to being consumer base. Only one third of the chinese economy is based on consumer spending. Ours is two thirds. The chinese want their country a service economy. When we see any data that suggest the Big Industrial engine of china might be sputtering, we freak out. Why . Because so many countries depending on the Chinese Market for growth and its not giving them. Things only got worse, around 4 30 when we heard that Anglo American, the biggest Mining
Sinking 6. 5 . Lets take it by the clock. When i got up this morning, the futures, they were down hideously. And you know i get up early. A couple of reasons. Both chinese imports and exports showed chinas decline in Growth Continues to accelerate. Weve now had 13 straight months where chinese imports slumped right in a row. No wonder copper is in free fall. No wonder theres no place to put aluminum and steel. No wonder irons under 40. Nickel, zinc, i cant even look at them. Its just bad over there now as the economy frantically switches to being consumer base. Only one third of the chinese economy is based on consumer spending. Ours is two thirds. The chinese want their country to be more like ours, more like when we see any data that suggest the Big Industrial engine of china might be sputtering, we freak out. Why . Because so many countries depending on the Chinese Market for growth and its not giving them. Things only got worse, around 4 30 when we heard that Anglo American, the bi