Low. Shake shack and tesla both getting slapped with downgrades. Star bucks raising prices but coffee addicts keep chucking. Well talk about why. First up it is the sign of a resilient u. S. Stock market. Eurozone officials are meeting today pushing for new reform proposes from the greek Prime Minister. Banks and stock markets remain closed. Pictures of people waiting outside the banks. Pensioners trying to withdraw some money. There is a sense, has tsipras built Political Capital post referendum in. I think that merkel is making a stand. Theres really good articles today about how merkel has emerged as being pretty much a dictator. And the wall street journal writing a story this morning about germanys rise in power over the last eight years. Its going to make it so it doesnt look good for tsipras. This dollar being strong earnings season starts tomorrow carl. Cut numbers, cut numbers, youre going to have to cut number for every international company. This is im very uncomfortable wit
The map but every elite in the world does. This tax haven story is really remarkable. Caroline absolutely sensational, so many months in the making and embroiling presciently as well as the islamist Prime Minister. 10. 3 is your number for the eurozone unemployment, the lowest since 2011. Clearly showing slow but steady improvement in the unemployment level of eurozone. 10. 3 still a high level but overall we are improving. Bpi is getting Producer Prices and they are getting coming in, still stagnating. Tom as we start the Second Quarter, but difficult economic. Unemployment in europe versus the United States is something. Here is vonnie quinn. Vonnie our flights are scheduled to leave the Brussels Airport a day after it reopened. Only three flights departed yesterday. The Brussels Airlines has flights scheduled to the u. S. And africa. He has of damage caused by the attack on march 22, they have 20 of their normal passenger load. Linked to2 members the paris and brussels attacks are s
His exclusive details of his 100to raise an additional billion a year to balance the budget and offset those declining oil prices. Lets head straight to the market desk where julie hyman has some of the breaking economic numbers to start the day off. A little bit worse than expected. Julie i want to start with labor Market Conditions because they are we see a drop or a game with anticipated labor Market Conditions. That index is down 2. 1 . The estimate was a gain of 1. 5 . Thes are walkin watching labor market. Overallnumbers are down in line with the median estimate. If you exclude transportation, you get a drop of a tenths of 1 . That is larger than estimated and that is the seventh decline in the past eight months. Looking down, we have a decline of 3 in goods orders. Extra transportation, you have a 3 10 of a percent miss down. It looks like the numbers are slightly to the downside here. A slight downward bias is is what was estimated. This is coming on the heels of a comingk meas
, a groups pulling us there lot of the cyclical groups. Consumer discretionary stocks are leading the declines with Health Care Help to limit the declines. The other notable mover of the session would be the u. S. Dollar. We talked about the correlation less thanrices the fact that the dollar has been down and that is something investors are increasingly talking about. Were is some talk that maybe could see a return to strength for the u. S. Dollar. Take a look at the bloomberg care. Going back all the way to the 70s and the trade weighted dollar. The other time we have had long runs, have been longer than the current run in the drop in the past month or so notwithstanding. You had all volcker being named fed chairman and a 67 month rally in the u. S. Dollar. Then the dollar came down and in the 90s, robert rubin in treasury spurred and 81 month rally in the u. S. Dollar and we have had a current rally that is only 57 months. Past performance does not guarantee future results. But the
Fedticipation. Looking ahead to tomorrow and what people can expect. Valeant shares are down big this morning after disappointing results. And its mega tuesday with five major primaries taking place across the country. Well go live to one of the most important states hitting the polls today. First up, retail sales down 0. 1 last month, in line with expectations, january sales revised downward from 0. 2 to 0. 4 down. Producer price is down 0. 2 in february. Unchanged if you strip out food and energy. The data coming as fed policymakers are set to begin their twoday meeting today with the latest policy Statement Due tomorrow afternoon. That will be followed by Janet Yellens news conference. A big question is whether or not their statement reflects some firming of inflation. Ppi today relatively stable. I think things are tame. Obviously James Bullard was talking about oil going to 20, how he might have to revise his view. It went to 40 and has come back. The thing thats devastating is th