But really and meeting. Opening up society. What we were talking about just now, we met all sorts of women who were saying ive owned a car for a decade but i have a driver who takes me to and from work and i cant wait to learn how to drive lot are starting to learn how to drive but in terms of how the culture is moving. Saying publicly they are looking to are a more moderate society essentially. By the way more moderate form of islam this is not without controversy though im sure. There is a huge other side. Hes pushing through, trying to push through this transformation and theres economic, by the way the entire driving industry, you talk about drivers, because all the women most professional women have drivers every day what happens to the drivers . But theres a whole thing going on with all of it but that whole 500 billion Economic Zone theyre going to create, the whole new city in the middle of the desert with klaus. With klaus its amazing we should all go there in ten years from n
We have a packed and great show for you today. We speak exquisitely to the ceo of italys biggest bank. Jeanpierre mustier. In 10 minutes from now. And in our brexit show at 9 30 a time, and another exclusive and that comes from terra firmas justin king. Breaking news out of china, on a day where we are seeing nervousness on the market spirit and this is what we are seeing on these China Foreign exchanges. For the end of june, coming in 5 trillion, below what economists were expecting. Lets check on the markets. Overall, its the selloff we were talking about yesterday that seems to be continuing. So, were seeing a little bit of a repricing on some bonds. Bund,year german yesterday at this time we were at 0. 49 , then we touched 0. 5 , 0. 57 . That means there is a little bit of a repricing, for example in the italian. You can see this index at 12. 52. Lets get the first word news. Is being seen as suspect behind the hacking of a dozen power plant. A Nuclear Facility in kansas was among
Good morning welcome to Worldwide Exchange on cnbc. Im dominic chu in for wilfred frost. Im Morgan Brennan in for sara eisen its new music friday, were getting your weekend started with a brandnew song by zed and liam payne called get low. What do you think . I kind of like it its firing me up for jobs friday also makes me feel like im in a club on a saturday night i hear get low, im thinking lil john and the east side boys for sure lets check the Global Markets there is some stuff going on ahead of this big jobs friday. If you look at the u. S. Equities picture, its generally flat, maybe to be expected after a down day yesterday things are Holding Steady ahead of that 8 30 a. M. Eastern time jobs report. You can see the implied open for the dow, just about one point. The s p about two points nasdaq up by about five. As we look at the tenyear treasury note yield, a key focus for traders and investors over the past week or two, given the bank stock run, global rates all over the place,
Welcome to squawk alley. Jon fortt with mike kantoly at post 9. Kayla has the morning off. Jop jo jon . Lucky number 13 for the markets. The blue chips marching towards 20,000. In case you were counting, 42 days till donald trump becomes president. Will this trump bump lift all or hiding future risks . Joining us are Brian Jacobson and here at post nine john stoltz, oppenheimer asset managements chief investment strategist. Good friday morning. Good morning, jon. If im not mistaken, john, your projection a year ago for where the s p would be right now is right about where we are. What do you make of this trump rally . Was it going to happen anyway or is it worse off than you had expect smd. Our expectations had been that the s p 500 would cross 2,300 in 2016. But weve certainly gotten help from the election of donald trump. Theres nothing like projections of lower taxes, of reduction of regulation as well as prospects that were going see some significant infrastructure spent to get the
Look at the bloomberg, g btv 3598 that looks at the msn reading and market reading of manufacturing. 50 is the dividing line between contraction, so we saw manufacturing come down and has been016 expanding now at a higher rate to most of 2015 and now on 27 2016 and out 2017. As trump pushes for made in america, this chart shows we had seen an expansion of manufacturing, although he is looking to expand that even further. Taking you back to the markets and a look at the major averages in the wake, a bounce back after four days of selling stocks in the United States, but i want to look at what is going on with rates because we had been seeing rates push lower. Five, a move higher by basis points and you can see the reaction to the earlier economic data, the employment report showing a job expansion and now yields take a five basis points to 2. 5 . Likewise, the u. S. Dollar had been selling off recently and coming back today, particularly versus the japanese yen, catching a bid in recent