Reports of a chinese stateowned Company Looking to buy the semiconductor giant. The deal may have a tough time getting through regulators. Could another suitor be waiting in the wings . Well find out. Wells fargo turning in a solid quarter posting a decline in Mortgage Applications this morning. John shrewsberry will join us to discuss whether he sees a slowdown in housing. We are seeing a rally in the price of oil. We are going to ask about that. What is going on with oil . I think some of this deal was priced in. We had several days of imminent announcements of a deal. When the deal came, i think everyone expected it. Also the return of barrels looks like a 2016 event. Its not a Million Barrels hitting the market tomorrow. Thats why we havent seen a bigger reaction to the iran deal today. So when do you expect to it happen and what will the price of oil do when that does occur . Its a timeline. We have basically 90 days where there is going to be debate in congress for 60 days, but a
Inflated. The market had started to deflate, but then he said it went back up again. Usually thats a bad sign. Thats a sign of things to come, end quote. On a day when the market drifted down slowly but surely, dow sinking 53 points, nasdaq dropping 0. 46 , its worth pondering mr. Trumps fuse, whatever your political orientation. It makes sense on many different levels, and the conclusions, you know what, theyre arguably right, at least for a Certain Group of People Living in certain places, namely, rich People Living in expensive places. First, we have to admit that the stock markets had a fabulous run since the bottom seven years ago. People have made huge amounts of money if they invested at the generational low, or if you held on at the meltdown and didnt own the hart rd hardhit financials. You did terrifically. So, is there a bubble . Well, if youre living in new york City Real Estate it feels like a bubble, particularly in manhattan, where properties could easily sell for four or
Let us talk about what is happening in commodities. Guy the world feels a little more empty in terms of the glass halffull argument. A lot of pressure in global trade, numbers out at the moment talking about navigating the challenging market. Down, talking about china being a difficult place to. Anna better than estimated net levels, but the china comments are interesting. Growth is expecting, but as a slower grace. Guy aluminum trading in a down side, probably the most key oil. Dity copper, this is the price. I made this chart here for you to show you what is going on. Oil is trading at a key level. Gotas the financial price down to near 40, that is when i rock invaded kuwait. In the sand,ine using trading back down towards it. Will we bounce back off of it . Yes, history will tell us that. Nevertheless, we have been down at level since the crisis. Opec and u. S. Producers playoff of each other, so much of the story about the falling price of oil. It is been about the u. S. But opec a
Payments to Government Contractors as the slump in oil prices pushes the country into a deficit for the First Time Since 2009. Francine that is according to three people with knowledge of the matter. They say the Infrastructure Projects have been waiting six months for payment as the government seeks to preserve cash. Manus lets get straight to the middle east and bring in our finance reporter, matthew martin. Good day. Let us through what these measures are run us through what these measures are. They say they are delaying paying contractors give us in context. It is important to remember that saudi arabia going into this period of time with very low debt and huge reserves, but as it comes to the realization that the oil price leave staying at this sort of thel for the mediumterm, government is starting to take some measures to try and reduce the spending levels as it starts to work out what sort of Government Spending, what sort of budget it can sustain Going Forward into the future.
This is bloomberg surveillance. I am Jonathan Ferro in london. Attention, brazil and japan. Roubini was right. Everybody laughed when professor 5, as youid qe 3, 4, know from your conversation with the bank of england yesterday, more qe seems to be the order at the end of the year. Jonathan more from tom in a moment. Vonnie quinn standing by with news. U. S. And russia have signed a deal to avoid aerial accidents over syria. Aircraftment regulates and drone flights. The Usled Coalition has been bombing targets in syria for over a year. Russia launched airstrikes three weeks ago. Paul ryan says hes willing to run for speaker of the house but conservative republicans are balking at some of his demands. Ryan, chairman of the ways and means committee, spoke to reporters. Everis is not a job i have wanted. Im at the job i have always wanted. This is a dire moment not just for congress but for our country. I think our country is in need of leadership. Vonnie one of ryans demands, he wants ao