About the potential market impact. Togan stanley says you want buy a dollar papal calls that. David i dont think people are taking donald trump seriously, and its really getting narrow. Jonathan do you just go to cash in setback and we do see what happens . If you could pick a winner at this point, what happens after . Theres no consensus. David it also have to do with congress, whether it is split or unified. Alix we will follow this through the next three hours. And the one event oil traders have circled on their calendars, wednesdays informal opec meeting in algiers. Francisco blanch and Vice President of ihs dan juergen. Starting off with the markets, is decidedly risk off in the debate tonight. You may look at equities and europe. The banks of men actually hammered and the flashpoint is on the dax down by 1. 5 in frankfurt. The biggest loser is Deutsche Bank. Another record low for the biggest bank in germany. Some speculation on what that means to the bank Going Forward. Are we r
Now the markets, after session lows down across the board, 1. 5 . The falling price of oil is bringing down energy stock. 1. 4 . P 500 is down the nasdaq is down 1. 6 . We did get good u. S. Retail sales data and Consumer Sentiment. As well as lower unemployment numbers. That is not to turn this around. For every one stock of, 8 stocks are down. For the week on this friday, the worst performance since november 13, we are down by 3. 5 and 70 points. The index is going 20 six sessions without back to back games. The record is 28 days. That was set in 1970 him and he hit it in april of 1994 and again this march. Two more days and we will tie it again. Three days, and it will be a new record. Oil, a lot of superlatives in the market. Nymex crude is down 2. 9 . It is down for the sixth day in a row. This is its longest losing streak since march. It is the lowest since february of 2009. Natural gas is falling, it had broken below the two dollar mark, and it has risen above that at two dollar
Later on will be paul krugman slamming germany. Question,ssic german we want growth but stay within this pact we agreed to. In the u. S. , personal income and spending at 8 30. At 9 45, chicago purchasing manager index and then the university of Michigan Consumer confidence. Heavy data day, given that it is the friday before labor day. Earnings, big lots. Markets in india are closed fora a hindu festival. 8 00. On indias gdp at european Foreign Ministers meet in milan. Wonder what they will talk about. Westminsterl be in today. I will take this to the traffic desk with scarlet fu. New rochelle and tarrytown. Hes staying overnight to attend a wedding. Scarlet fu in the traffic chopper. The traffictan, shuts down, what do you do in the suburbs . They shut down certain streets. You have to get around everything. Were warned, north of new york city as the president has a little on his mind. That on bloomberg surveillance. Lets look at the data stocks, bonds, currencies, commodities. Future
A few minutes for an interview. Rublessian leader and the as the fed rats at its meetings today. Is it time to say time to say goodbye to opec . If the oil cartel cannot affect price anymore, what is the . On assignment. Is he may be back in a few minutes, but in the meantime, a very special cohost today. Of weisenthal is the editor bloomberg markets, but that is not why hes on. Your hair looks so good. To matt miller, obviously fantastic. But standalone, it still looks good. Its time to start the top business stories of the morning. We have seen some very big swings in the ruble today, but nothing like yesterday. The ruble soared more than 8 at the open, fell back, and now again it is strengthening against the u. S. Dollar. Russia intervened for the second day in a row, buying rubles out in the open market. Meanwhile, russia said it will keep well production steady over the next year. That sent oil prices down as much as 3 . West texas intermediate has been trading below 55 per barrel
Judge highs, low prices not helping the german economy. It begins with volatility in the market, russia fails to stabilize its currency. We do have it sparking in m a, buy iing towsman. Boeing ups its buyback. Cocacola updating the guidance for 2015. Below 2,000 for the first time. Russias central bank hiking rates 6 1 2 points. That has not stopped the ruble to sliding to record lows. The moscow stock market tumbling, all of this as the fed begins the twoday policy meeting today, which brings up an interesting point. If the discuss today, jim, is about considerable period, does the fed step on the gas here, when we know what that would do to emerging markets . The fed is very data friendly. They look at the things we are looking at. I i think the old fed before bebangie would ignore this stuff and say weve got to think about the next 5 to 10 years. This fed recognizes that the world doesnt work like that. I expect that there will be people who interpret yellen as saying that, look, sh