Is a huge search and rescue operation off of some of the greek islands where we have lost atck of the egypt airplane 2 30 local time last night. Is very fluid. We are watching for the aggregation of headlines. We will have a map soon. I know we are going to cairo soon. It is a nation that has seen too many of these accidents. Francine lets get to the bloomberg first word news. Here is nejra cehic with more on egypt. Jetliner fromtian paris to cairo has disappeared over the mediterranean. Egypts Prime Minister says he cannot rule out the possibility of a terror attack. Flight eight 04 was lost on radar at 170 miles from the egyptian coast. It was an airbus 823. Andtian military aircraft ships are searching for debris. We will have more in a moment. Iran has launched a Charm Offensive for europes elite. Their meeting with their european counterparts. Theyre trying to break a deadlock in investments caused by the few remaining u. S. Sanctions. Credit suisse says the bricks of boat has alr
Well but they are not doing much for stocks. Not seeing a big decline. One would think, a b that is because it is bringing forward when the fed might raise rates but we are not seeing bond yields rise or the u. S. Dollar. Take a look at the bloomberg map. We have Energy Shares trading higher, Consumer Staples lower. A Diverse Group of groups doing poorly today although it seems like there is a little bit of a rotation out of the defensives. Within the Consumer Staples, have kraft heinz pulling back today. It does not look like a specific catalyst that is driving them lower. In terms of the dow loggers we have cocacola and then we have been talking a lot about the home depot. They said the First Quarter would likely be the high point for the year in terms of sales growth. It is off from january to february and february to march, slowing sales growth. That appears to be behind what we see in the selloffs. Scarlet and a bright spots . It looks like energy is the bright spot that it is not
Online ad revenue jumping 73 , users talk to hundred 60 million. Mark zuckerberg defended facebook from accusations of a liberal bias. Said conservatives are important to the social network. ,ollow me on twitter rishaadtv using trendingbusiness. The trading day under way at the bottom of the hour. Look of what is happening so far. Digestingan markets , underpriced or do we have to reprice expectations. ,ed funds futures went from 4 now over 30 of something happening in june. Feels like some uncertainty. Tokyo leading gains, up. 5 . Ae yen weakening to threeweek low against the dollar, the dollar surging to a sevenweek high, a bit of relief when it comes to exporters. South korean shares down 3 10 of straightmonth of declines at the factory gate, the slowest paced and one and a half years. Added as welljobs as unemployment inching up 5. 8 or zend, new zealand down 4 10 of one person and, a bit of selloffs in emerging markets, equities, currencies, along side that revelation that they co
Product profit increase but can it be sustained . Well find out when we speak to the cfo in 45 minutes time. We are now half an hour away from the european open, caroline lets take it look at where we think it will take us this morning. It looks like a mildly negative start for the european day. This is the fair value calculation. The dax 00 it will be just positive, Everything Else looks like it will be negative but only just. It looks like a fairly flat open. Rebound iny we saw a minors when it came to europe and that seems to move into asia, helped by copper trading up 0. 8 . Brent crude oil is currently flat. There have been concerns about nigeria and the niger delta being evacuated and concerns about the safety. There seems to be a supplydemand dynamic. Yesterday andckup it seems that commodities go higher and so do stocks. We will be digging so much more into the dollar index because its down a quarter percent but goldmans sex says go long on the dollar. We are underestimating wh
Ellen yes, we are saying he is less like mussolini than the berlusconi. David former Prime Minister of italy. Ellen yes. Over the last 10 years, democracy has waned all over the world after it being on the upswing. If you look at freedoms, freedom is on the downswing as well. More and more, you see leaders describe him as having a blow torch manner. But leaders like trump who are a little bit more in that mold coming to the fore. David using the media in the way that berlusconi did. Ellen right. Right. And we talk about thailand and turkey, where you have leaders that maybe have been elected but then really act like david like autocratic, yeah. Carol people say, democracy has not made the situation that much better, so maybe they will try something different. Ellen exactly. It is sort about economic growth. The connection between democracy and economic growth, it feels like it is breaking down, even if you look longterm at the numbers. You find that the economy in the long term do bett