And russia yesterday deciding to extend the production cuts and the iaea saying the demand outlook is slightly downgraded on lower first half estimates. Non opec increased in 600,000 barrels per day. You can see brent is up on the back of that, 52. 19. It was around 51. 7 when i looked at that. Oil is climbing a little bit more. Reminder yesterday, we found out audi plan to extend production cuts for another six months. Watch oil. We will bring you those trump headlines. That is giving a nice risk to the euro dollar, the dollar weakening for a fifth straight day. The euro is soaring amidst classified information donald trump made or may not have given to a russian diplomat. We are looking for the mexican peso strengthening and the south korean yuan strengthening. We will get more on your markets, but lets get straight to the bloomberg first word news. Reporter we start with europe. Angela merkel has vowed to work with macron. That as the german chancellor hosted the newly elected frenc
Dollar flat, tenyear 224 and moderate action in crude. Budget priorities the white house out with its 2018 budget plan today which targets big cuts to medicaid, food stamps and disability. Plus u. S. Markets are shrugging off global terror concerns. Futures are aiming for a fourth consecutive day of gains. Isis claiming responsibility for the deadly concert bombing in manchester, uk. The worst terror attack in the uk since the london bombing in 2005. The white house set to unveil the president s budget for 2018 which aims to eliminate the deficit in ten years, the budget includes 3. 6 trillion in spending cuts over a decade, including medicaid, food stamps, welfare, Student Loans and disability benefits. The plan does call for an increase in military spending, most notably, jim, calls for 3 real gdp from 2021 all the way through 2027. Yes, i dont know what to say. You read the new york times, notice i didnt call it the f l failifai failing new york times. This is ridiculous. In a news
More rate hikes this year . Amazon ascends. The stock topped 1000 a share in the u. S. Yesterday but how much more room do stocks have to run with the record rally . We are half an hour away from the european open, from the open of cash trade. Take a look at where futures are trading right now. We are seeing gains for most european indexes, a little bit of a loss for dax futures but the futurese in action. We have not seen the asian news carry through yet as far as Index Futures go. Theo see it if you click on gmm screen, you can see in the forex, the renminbi, the yuan getting a big move. Anytime you have a black oxen the middle of one of the panels on a gmm screen that means youre seeing a move that is more than three standard deviations away from the 30 day average. You see it here in the renminbi on and off shore if we take that and and pull out the bonds commodities, youre going to see china highlighted again here as far as the move with the sovereign bonds, the fiveyear dropping
This is the highest profile meeting yet between the Intelligence Committees and the members of the trumpcampaign. He did say this morning that there were four specific meetings that he took as a Campaign Official as the president s soninlaw with russian officials that were of varying levels of seniority during the course of the campaign and after the election before inauguration. He painted a picture of the campaign as overworked, under staffed and on the receiving end of a dluj of communication not just from officials from russia but from different companies, different other countries and for people that wanted to get a better sense of exactly where the then candidate donald trump stood on issues. It is unclear how deep the probe went. He laid it out in great detail 11 pages in the statement that came out. Lawmakers have been relatively mum as they have been trickling in and out of the meeting. We will see what Jared Kushner says when he makes public remarks in just a little bit. We w
Of digital competition thats slamming into so much of retail . Have we gotten a little more rational about this issue . On a day when the dow lost 33 points, breaking its tenday winning streak thats largely because president trumps statement about meeting north korean threats with fire and fury surprised investors arent in love with the idea of nuclear war. I think the market is starting to behave logically when it comes to many phases of retail, which had been in a bear market. Take the relationship between amazon and its brick and mortar competitors. Just a few weeks ago, the consensus was that amazon was poised to destroy everything retail i mean, everything every brick and mortar store and every supplier we stopped discerning among different parts of the retail food chain and assumed its game over for the whole sector and look, no one is denying that amazon is incredibly powerful, but many blind sided retail ceos have finally begun to come to terms with the new reality, and now the