Good thursday morning. Welcome to squawk alley. Im jon fortt with morga brennan, david faber, here at post 9 at the New York Stock Exchange carl is on assignment. And were going to begin with todays rally. Stocks surging all of the major indices up more than 1 . Our dom chu is back at headquarters with a look at what is driving the gains today dom . So, jon, we are right near highs of the session right now the dow is up about 458 points, 452 at this stage. And as you can see here, almost 1. 5 to 2 gains at this stage for the major indices. The s p 500 really the laggard there. A lot of tlechnology and communication stocks powering that nasdaq composite to a 1. 5 gain overall with regard to whats driving the action, take a look at the sectors that areat most at wor and at play. Financials, industrials, technology, meanwhile, consumer staples, real estate, and utilities really lagging behind. The key level that we wanted to watch earlier on was 2945. That had been an area of resistance o
Drop in order for drop in order for for its typhon business jet. And opec secretarygeneral hopes to get the americans on his side saying the Oil Organization will meet with the u. S. To help support their production deal. Good morning glad youre with us once again for spain it may be the day of reckoning as the Catalan Leader, Carles Puigdemont, will be speaking to the Catalan Parliament later today he may or may not declare independence well have to wait and see until 6 00 p. M. Local time a quick look at the stoxx 600, one hour into the trading session. We are pretty much flat, even stevens when it comes to gainers and losers german exports were strong in august, up 3. 1 . Brushing off concerns of the stronger euro given that were seeing stronger demand in the eurozone lets look at the indices one by one. The dax hit record highs in yesterdays trading session. Its just close to those levels, still 12,977 points. The ibex 35 on this crucial day for spain is off by 0. 4 continues to un
Terms of what were communicating. The ruble recovers from its biggest daily loss in 16 years, but russias woes claim another victim. Shares in Italys Saipem plummet. China has its biggest daily rise in over a year with banks and grocery stocks leading the way. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Brent and wti are currently trading lower after bouncing back during the u. S. Session yesterday. They are up today, up 0. 66 and 0. 23 respectively. Wti crawled back around 5 of recent losses to move back above 65 a barrel. Some oil drillers have responded to operations by putting their operations on hold. Operators around the globe are looking at stacking their rigs, meaning making them temporary idle. The 3406 is aimed at lowering costs despite the offset in the market, but remaining ready for reemployment when it recovers. Imf chief Christine Legarde says while low oil prices are good news for the u. S. Economy, they do add a threat
Sustaining injuries in police custody. Also coming up, nasas mercury orbiting spacecraft will run out of gas following a successful fouryear tour of the planet. Microsoft will stay in the game as the battle of smartphones continues. Kate will have the details in business. Stay tuned. First to our top story. The latest miracle survivor in nepal. Rescuers pulled a teenage boy from under the rubble after the 7. 8 magnitude earthquake. The survivor had been staying at a guest house on the outskirts of kathmandu. The latest glimmer of hope in the devastated nation with a death toll has topped 5500. The government meanwhile is facing a growing criticism for the pace at which aid has been distributed. Authorities have been overwhelmed by saturdays quake. Reporting from kathmandu. A long and tense day in kathmandu yesterday. Already we are hearing reports of people starting to assemble at various places in the city, mostly outside government offices and parliament. Yesterday things got very in
Fighter jets to qatar, we look at the boom and the Defense Industry and how the country could overtake a as the secondbiggest arms exporter. First, our top story. Relief efforts in nepal underway after the earthquake april 25 shook the country, leaving over 7000 dead. The worst disaster to hit that nation in 80 years and more have been hurt. I spoke to bruce from handicap international. Hes 12 kilometers from the epicenter of the quake. Told us more about what is being done to help the wounded. The changes is to reach the challenge is to reach out to people. We had very Little Information beyond what can be accessed by road. People are walking from their village to the nearest road or to a point where a helicopter is able to take their injured people. We see people here who have walked for seven days before they could reach a hospital. For us the challenge is to reach out and make sure they have access to the health system. That is the challenge. If you wait until they see a doctor, th