In the markets, it seems, right now, after we had some investor relief the last few days, but that is not holding up today pit we see the nasdaq leading those declines, down 1. 1 . The s p 500 also reversing four days of gains to lose 9 10 of a percent. The dow jones also down. 8 . The s p 500 is coming off of todays lows of 2081, still hanging in there, 2083, down 9 10 of 1 . If you look at the imap function on the bloomberg, you can see the sectors that are losing the most, and those include commodities and also financials. Financials falling one point 9 . Remember, they were some of those stocks that saw the best recovery from a 22month level in february. They are down again, and not surprisingly, energy down 2. 4 . Of course, crude now headed for its biggest fivemonth drop. We see a trade below 47 a barrel. 46. 71 for crude we heard last week from american shale crude. We heard last week from american shale drillers they added the most oil rigs of any week this year. Concerns of am
Trading day, lets head to the markets desk where julie hyman has the latest. Julie a mixed picture after opening lower but stocks recovered to some degree after the selling we saw yesterday, just in the past few moments, all going green, even just last time i checked my bloomberg, the doubt was lower. All switches the doubt was lower. Was lower. Will the fed discussed the u. K. Boat and should the u. K. Boat and it should be interesting. What is gaining and losing, the losing front, and what volume is showing, the 10 groups of the s p 500 worse is the 20 day average, overall volume up 5 , a surge in volume within the telecom. If you look at the telecom stocks, among the laggards, today is the deadline for bids for jan who and the final four yahoo airlines falling today, Credit Suisse downgraded a couple of an analystmerican, says it is likely that thirdquarter unit Revenue Growth will be disappointing, she says there is risk of further currency headwinds and lower trans atlantic yields
And germany markets there closed for a public holiday. Oil prices are rising this morning. A longterm bear at Goldman Sachs now says the market has ended two years of oversupply and flipped into a deficit. The firm says this allows or follows disruption supplies from nigeria, venezuela, the United States and you can see wti is up by about 2 points. We were at 30 now its back to 50 and youre doing the super spike. The super spike came out a while ago. Remember the London Office . The supply has been shrinking. Is it ready to go up to 60 or 70 . Because they already missed the move from 27 back to 50. Yeah. But remember the super spike, that came out of gold mans London Office at the time. Yeah, i guess. But goldman they have many analysts. Other analysts will say its going down and some say up. Just another brand. Have you noticed three straight weeks since that person was here to say we are at an important level. What happens in the next weeks decides. Right. We are at factory data in
Member may address up to 3 minutes. Any member wish to make comment not on our agenda today . Seeing and hearing none, well close general Public Comment. Very good commissioners place under Department Matters mpt tim fry department staff, the director report was included in the packet and happy to answer question. If no question we can move to item 2. Planning commission, staff report. Commissioners just one item to report back to or actually two items. One is monday the budget and Land Use Committee heard the lands mark designation for 3545 amine doga and forwarded a positive recommendation. There should be one more reading and to the mayor for signature. Second item is remind you that the government audit and Oversight Committee tomorrow is having a hearing regarding the legacy business registry. We have been in contact with the Mayors Office and invest in Neighborhood Program to help prepare for that hearing. We will not be in attendance but that have all the information including t
Please silence your mobile devices. When speaking before the commission if you care to do state your name for had record. Like to take roll. Wolfram, here, hasz, here. Johnck, here. Johns, here. Matsuda. Commissioner pearlman will be absent today. Ajnda items your opportunity to address the commission will be afforded when the item is reached. Each member may address up to 3 minutes. Any member wish to make comment not on our agenda today . Seeing and hearing none, well close general Public Comment. Very good commissioners place under Department Matters mpt tim fry department staff, the director report was included in the packet and happy to answer question. If no question we can move to item 2. Planning commission, staff report. Commissioners just one item to report back to or actually two items. One is monday the budget and Land Use Committee heard the lands mark designation for 3545 amine doga and forwarded a positive recommendation. There should be one more reading and to the mayor