Fires rockets at u. S. Military base its. Tehran says it doesnt want war. Boeing737 jet crashes in a ron shortly after takeoff due to stateat stadia media describes as technical issues. All people on board were killed. Carlos ghosn says nissan used him as a scapegoat to block further integration with renault. He speaks out in a press Conference Today in beirut. We are also getting german factory orders in the economic data. It does not look good. November factory orders dropped 6. 5 yearoveryear. November manufacturing orders dropped 1. 3 month over month. That we haverders been waiting for here in germany just dont look good. You want to pull that up on your bloomberg, type ego go. Pull down on the german flag. The picture is fairly dire. Just under an hour away from the start of cash equity trading in europe. Before the factory ders came through, they were bad enough. Now you can see, dax futures are down even more. 1 . More than double the losses that we see on ftse futures. In term
President. Dont miss it. Manus warm welcome to daybreak europe. Times we have rocked from 1 up to 1 down. Its amazing how those numbers come alive. Is there a deal on the way . Between china and the u. S. Nejra if we get a partial deal, how long could that sustain any gains we might get in risk assets . Would it be enough to turn around the economic damage that has already been done . Manus indeed. Lets get straight to these markets. Lets get straight to the oil market. Actually, lets get to the fx market instead. One theof the yuan is at a high. The bears were champing at the bit to sell the currency. If there is a currency pact , thatn the u. S. And china could give you some solidification in dollar yuan. At the bottom of your screen, you have the aussie dollar against the u. S. Dollar against ground zero for trade. It is about the durability of the deal. How long can it stay . If it does, it may well help the aussie. Good morning. I missed you. Nejra it has been such a while. 10 day
From the darkest moments. In the midst of this historic storm of the people of texas have responded with their very best. This could well be texas finest hour. Drain to the damage could wreak havoc on the busy travel season. Gas prices hitting a twoyear high as the nations largest field pipeline runs from texas all the way into new jersey, new york city even with temporarily shutting down its main fuel line from texas to new york because of outages. Turning to tax reform, President Trump calling on congress to get to work when they return to washington next week despite the push to many polls say americans are not confident lawmakers will get anything done. Futures are showing this in your market. Dow futures up 72 points. Much to miss them. Weve got the good reading on secondquarter Economic Growth coming in at 3 yesterday. The dow up 27 points yesterday and had he not at least the start of the last day of trading in august. Europe stocks higher across the board. Case in england, fran
That matters so much or stands out, but it is the fact that we have declines as opposed to gains for the s p 500. This is the first down day in and nine. There has been so much bullish momentum. The three major averages are on pace for weekly gains, but we do not have any record highs, the first time we have seen that this week. The nas whack nasdaq is down, and we can see if the tech heavy index can pull out of the weeds. This could have to do with the jobs report and the cryptic comments from President Trump, but it is also earnings season. This is a oneyear chart. The s p 500,ve those yellow lines, arrows, that is the q4 reporting season earlier this year, and the First Quarter earnings season earlier this year. On the bottom, a momentum indicator. We see before the Earnings Report. Reports, engine, this happened. We had the tech wrap. , so conditions were not overbought. We are starting to trend down, suggesting we might see these overbought conditions cooldown for a little bit. Bu
Whats leading the day are commodity related shares. Crude oil rebound, material stocks being led higher by c. F. Industries, which got positive commentary. All that is helping sustain some of the gains were seeing in stocks. But to the point that scarlet was making about the tight trading range today. This is the range today, just over five points, 5. 29, to be exact, the tightest trading range weve seen all year. The average is about 13 points to give you perspective here. Indeed its a quiet day, especially given a very tightrange day especially given the fact we have the jobs report. Its also reflected in the volatility index. You see the runup that we had and the collapse essentially in the vix. We keep getting awfully close to that, 10. 5 is where the vix is today. I mentioned materials, two of the other materials stocks doing well today are dow and dupont because they have yet another step toward their deal being completed. A Brazilian Competition Authority has recommended approva