The spectrum. We look at Asset Classes and gold and yen and, looking, of course, the geopolitics. In the meantime, this is what the data is telling us. A reminder for all of you americans, it is Independence Day. The markets in the u. S. Are closed, which means we are seeing a little bit thin trading, a selloff in risky assets globally as north korea claimed a successful Intercontinental Missile launch. Havens both advancing. You can see the vix a touch up at 11. 22. We will have plenty more on the markets but lets get to the first word news. Nejra speaking of risky assets, oil has halted gains after the longest winning streak after rude shows that opecs c production rose to its highest level in june. The increase came from libya and nigeria which are exempt from making cuts under the deal agreed between opec and its allies. Janet yellen was hospitalized over the weekend and luncheon for treatment of a Minor Infection and is heading home. Yellen was admitted on friday and released yest
Good friday morning. Welcome to squawk alley. Were at post 9 of the New York Stock Exchange jon fortt is off today ed lee joins us. A lot to get to tech took a item thbl morning. The nasdaq continues to slide amid that selloff that began in yesterdays session. The index set multiple record highs earlier in the week, mike. As we know, we hit critical levels on market cap on unit performance. Nasdaq getting 28 year today. We were talking about jeff bezos being the richest man alive. I think also a couple other things working against tech which is this month the market has been inclined to sell the winners. The year to date winners are the worst performers this year and then earnings season, youve had to have absolutely across the board blowout numbers to get rewarded on the first day. So you saw alphabet. You had a little pullback on generally good numbers amazon the same effect i think all that is causing people to wonder whether its time to take some chips away from tech. I think, espe
With new trade data, exports rose in july and imports up 11 . The nikkei was down by 0. 3 but you did see gains in the hang seng and shanghai composite. In europe, early trading, youre going to see right now, things are pretty flat. Harder to think of things being flatter than this. The dax, cac, and the ftse, slightly gaining crude oil prices down by 19 cents. This morning, rebounding, wti up by 50 centers. Developing overnight, mr. Wonderful called it early yesterday, google firing the engineer yesterday the engineers tenpage manifesto has asserted that women have biological differences that prevent them from being as successful as women in tech. Google did not confirm the firing Software Engineer james demore said he had been dismissed for, quote, perpetuating gender stereotypes. And yesterday, the google kraef su Ceo Sundar Pichai said that the tech crossed and uber telling the employees that Travis Kalanick is not returning theyre intending on hiring a world class leader to lead t
This is my market talk. What were seeing across the globe is a little less worry emanating from the tensions between the u. S. And north korea. That seems to be showing signs of easing. Shares in europe following asia higher. Climbingk futures also , treasuries down, and yen up. Lets get straight to the bloomberg first word news. Heres Sebastian Salek. Sebastian donald trump has faced more criticism after failing to personally denounced the White Nationalists and neonazis who held a rally in virginia. The white house released a statement saying the president condemns all forms of violence, ty, and hatred. Vice president mike pence made similar remarks in columbia. Groups thatremist need to be pushed out of the public debate entirely and discredited for the hate groups and dangerous Fringe Groups they are. Has refused toe rule out military action to resolve the crisis in venezuela, but he said the u. S. Would prefer a peaceable solution. He and the colombian president said they are look
Speak and in the last halfhour tom keene interviewed Federal Reserve vice chair Stanley Fischer who weighed in on employment. We will be aiming and very likely close to 2 inflation and full employment, which somewhere around where we are now, possibly a bit lower. Jonathan joining us now is sebastien galy, Deutsche Bank director of ethnic strategy and from our european headquarters, speak,ek full of fed what have you learned so far that he did not know last week . I think what we have learned is the fed is really optimistic. The data has been ok, it is not than on fire and they recognize that. You have not preannounced something for march and they were not go into a march meeting and the market since then has repriced something between 223 hikes. Hikes. Two 23 the market is pricing some uncertainty between now and the end of the year something might happen. If there is a risk aversion event of the risk is to the downside to the market is priced almost perfectly. From our perspective at