European markets are well underway and as he has pointed out a number of times they have been of late for our own markets and there they are up across the board. Not bad actually. No, our futures being down is a function of idiocy. Idiocy how about the ten year note yield were right around 210. Yesterday. And also we know if you buy the banks you get some leadership rally and oil goes to 42 they still have no place to put it which is incredible given the fact that at one point we would be in a state of emergency but instead were in a state of glut youre going to pushing and theres not enough people in the refineries they get far earlier than people think. At the same time oil has to come down because its in storage and those that want to ship that oil will get it to the market somehow. The president said to speak on taxes later today. Expected to call the u. S. Economy quote rigged or at least the tax system plus its official warren buffet now the largest shareholder in bank of america
Good morning, happy columbus day, and welcome to squawk alley. Im sara eisen here with dave faber. John fortt with us from San Francisco, as he mentioned, at the black enterprise tech conference carl has the day off also joining us, kara swisher. A lot to get to today, beginning with google revealing youtube, g mail, and other platforms were compromised by russian operatives in an effort to interfere with the 2016 president ial election. Doesnt seem the ads were bought by the same troll farm that bought ads on Facebook Facebook is confirming russianbought ads appeared on instagram. So far, certainly, the pressure on these companies to fight fake news and bad advertising is mounting, kara, what will be the impact and whats the reaction out there in Silicon Valley . Well, i think, you know, its interesting. As i said, they are doing the slow roll, they are finding them slowly, looking for them i appreciate how difficult it is to find these things among the billions of transactions that h
About north korea. Pyongyang makes a surprising offer. We have the world covered on bloomgberg daybreak asia. We go to washington for the latest on the u. S. And chinese Diplomatic Security dialogue. Later we have an interview with the chinese ftc president live from bangkok. Coming to you live from our bloomberg headquarters. It is that oil complex we have to be worried about. First it was wti, now brent crude heading into a bear marke t. Some opec nations are considering deeper out put cuts. And they have to extend those cuts even further. You can see that build up in the oil market. We have hit that moment where suddenly everyone is paying attention. Lets see how the rest of asia will be handing out. Be panning out. Flat on the index 50. Cash rate unchanged. Rates will not move for some time. Futures are positive after an ugly day on the asx 200. The aussie not doing much at 75 51. 82. T falling at 44 we will look at the asian session. Lower after half of 1 down on the nikkei 225. 1
Take a look at the currency drop, the yuan snapping a. 3 , and the yen trading at 111. 14. The yuan steady after the pboc said the daily fix slightly weaker. Asian bonds looking mixed as treasury yields tick slightly lower. As our mliv opines, the bearish turn is not enough to bring back global deflation. That could provide some and the test for stocks. Industrial metals in white outperforming. I want to pull up some market ,overs this morning, tencent rising over 1 after a drop on wednesday. As kate telecom gaining 3. 5 , the most in three months, after samsung security said the stock is undervalued given it is the biggest shareholder in sk hynix. Rishaad thank you very much indeed. Lets get over to paul allen in sydney for first word news headlines. Paul thanks. China has rejected President Trump should view that it has failed to rein in north korea. Trump told a rally that he still hopes for more from beijing. S behind the scenes moves have been indispensable. North korea says it mi
Decelerate a wild week on wall street and all the major indices in jeopardy we take a look at whats to expect next week. Amazon falling in premarkets. And we lost a title after a few hours when the stock of course did drop after that report also star bucks shares falling on earnings receiving two analyst downgrades well talk to johnson later in the hour first up stocks were on a record run. The nasdaq sliding mid yesterday and it comes in about where economists were looking and big Energy Earnings today. Exxon shares are down. Profits double and chevron flat of revenue beat. Royal dutch shell made comments as if theyre preparing for lower forever. He wants to get down to the oil business lower forever on going to buy an electric car yeah it would be fabulous if they switched to first solar and you cant do that. They basically said listen our business is coal they did that was the only way to understand it and the coal business other than President Trump very much involved in coal was a