In his battle with the marriott for the start of hotels. Says, they are on for a bit of a wild ride. Please dont forget to use that trending business. We had to hong kong of course. First trading of the week getting underway in about 30 minutes from now. Shanghai also coming on. Singapore, taiwan, malaysia. Just starting off their session. With have a lid of a long week malaise. A little bit of a mixed picture. The talk about the beta drop out of japan is morning, really particularly when it comes to that retail sales number. Also came in worse than expected there. We saw a bit of a dip in the yen. Also the downside today. That is also an additional dragged on japanese stocks at the moment. Elsewhere, were seeing hefty losses coming out of city. Sydney. Major financials along with energy names slipping. In terms of the markets that have just opened, malaysia and little bit down. Singapore, up slightly. On, with japan out of the way, chinas stock was fairly disappointed yesterday. We lo
Been all of have these gyration in the markets and reaction to this jobs report. Its been puzzling in the wake of the report. It came in better than estimated. Some of the internals are mixed including the right taking up. By0 now its up three. Its been bouncing around in that range quite a bit as investors try to figure out what the feds next move is. We are still going into earnings season. They say thats going to be the next big catalyst. It is health care that is leading the gains at the moment. Consumer staples are doing well. Financials, the rates are going to be positive for that group. Oil today is trading lower. We heard saudi arabia not just talking about that mega fund and they are not going to join a production freeze and lets everyone in lopez does. Iran has said they will not join the freeze. As you know, that equals a down price for oil today. Higherhe dollar climbed after the jobs report as well. we are seeing this volatility in the market today. The dollar index climbe
Announce its new smaller iphone. The move comes one day before the apple and the sei meet in court. Lets head straight to the market desk where julie hyman has been keeping and i. Julie breaking economic data. An annual pace of 5. 0 8 million. It had the sales of previously down homes in 2007, coming at a threemonth low. Sales lower than the most pessimistic forecast in the survey of economists. It probably will not affect the large portion of trading. The company is coming out in making a number of announcements , saying ceo mike pearson will be stepping down today until his placement is found killed found. Be ono of valeant will board. To tender been asked his resignation and it sounds that he has not yet done so. Valeant said the companys placed onptroller administrative leave. All of that said, shares right , aroundhigher by 13 quite a bit this morning, mostly rising after the opening bell. We had in tracking the story over the past year, a number of different challenges accounting
You are looking at a january to february increase of 2 . 3. 2 was what was forecast. The number itself was 2000 better than estimated. The mostetter than pessimistic estimates would have feared. Sales came inome below estimated. The fourth time in the last five months. All of that said, lets look at what is going on in the broader markets right now. Major averages seeing steeper declines than they did out of the gate this morning. It really is Energy Shares that have been weighing on the s p 500. Look at the imap and energy as you can see is down 1 followed by materials. Weakness in the commodities related shares this morning, on the pressure overall averages are in oil prices are trading lower after we got an Industry Report last night that showed a build in weekly inventory. Government numbers in just about 30 minutes. I will be bringing those to you in oil prices are down 2. 5 . Also not helping commodities is the fact the dollar is higher this morning. You heard earlier from james
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