A lot of investors and traders like to see that broadbased movement. We have a nice risk on move. It is not clear this is not simply a bear market rally. It is too early to say. Today the bulls are out once again. David that is reasonably cheerful. Now i have to ask you about oil because it has fallen out of bed. Abigail we have oil down more than 25 . The crude oil crash continues. This is an important point relative to stocks. On the year, stocks are down 10 . Oil is down 80 . Both are considered to be risk asset tells. Oil you can make that case is more closely tied to the economy. Because you have oil solo, some of it has to do with the Technical Training factors. At the end of the day, it reflects a demand shock we are seeing. Unless oil comes back, it is hard to see the economy looking all that strong me time soon. With thetock investors case folks are looking ahead to 2021. If you have oil down that sharply it is hard to know whether that strategy will work. We will have more in
Will cover all the commodities. Caroline hyde in paris on a warning by the oecd, and Ryan Chilcote in vienna previewing the opec meeting. We begin in asia where Prime Minister shinzo abe has decided to postpone an increase to the sales tax. Delayed once, it is twice, and i am wondering if we will ever get it. Enda i think it just shows you how nervous the outlook is for japans economy. Japan has the biggest debt burden and they have been trying crying out for the government to do more to tackle debt. Minister day has had to step back again and surrender and say, we need to do more spending and try and get growth going. The economy keeps flirting between contraction and expansion. It is also interesting in terms of what it needs means for the bank of japan. We have already seen the reaction, a big gain in the end today as it takes pressure off Central Banks in the yen today as it takes pressure of signature banks. It shows you that japans economy remains on quite narrow footing. The dol
Or, areer results, there going to be any surprises . Away fromut one hour the close of the trade, stocks hovering near the highs of the session. Talking, third day of gains. Julie there is not really anything that changed or 24 hoursin the past yesterday. Negative chinese 20 trade data. It is a pretty big rally on the economic catalyst. 100 89 points. By about 1 each. The volume is 13 below the 28 20 day average. Take a look at the imap. It has been the same handful of groups leading throughout the day. Materials, industrials, energy, and financials. Technologyry and stocks are also gaining a bit today. The individual movers contributing the most to the s p 500s gain our amazon at a record after the price target was raised to 1000 per share, and microsoft getting some steam, as is general electric. We have earnings movers trickling in, not just disney, but a couple of numbers out today, down at a Business Information and technology company, earnings beating estimates, International Fla