People to look at the market, maybe for the first time in quite some time. So if nothing else, it gets peoples eyeballs on the market. To answer your question, i still think there are sectors. And health care has been underloved for a number of Different Reasons, all of which make sense. But also on valuation, a lot of big cap phrma makes sense here. And i believe the technology which is under some pressure over the last couple weeks is now coming back with a vengeance and i do think there is some opportunities there, as well. Dan, where do you fall on this . Large cap phrma is probably a good spot. They got an initial pop right after the election and gave a lot back there. If youre looking for the yield, looking for a bit of defensiveness. There is a lot of political stuff wrapped in there, but also decent valuation. That suppospace looks interesti me. Im scared of health care, pete. Tell me why i shouldnt be scared of heart attack. The political winds are against it. Its been cheap f
Policies of President Trump because it seems so clearcut that the move falls on his shoulders given the timing of the advance. Dow rieszing 35 points. Tenth gain in a row. Best streak since 2013. S p climbing 0. 04 even as the nasdaq declined 0. 43 . Look, im not disputing the calendar here. It would be ridiculous to claim that trump has nothing to do with this rally, the one thats named offer him. In truth he deserves plenty of credit. But when i listen to treasury secretary Steve Mnuchin this morning and betsy quicks excellent interview on cnbc, i recognize perhaps were pinning way too much of the game on the president s coattails. Yes, mnuchin made it clear that the stock market can be a report card on the president s job, and right now its all as. But lets give some extra credit to others before awarding trump sue ma couple law day as the beginning of his term. I recognize this is probably the single most probusiness administration ive ever seen. Once again the president called in
Resign following his firing of the finance minister without Consulting Party leaders. Nejra ive got the imap on the stoxx 600. You can see the stoxx 600 has taken a bit of a turn to the downside. Fallingustry groups than gaining, and intels providing the biggest lag, down 1. 2 allah by consumer discretionary. On the upside, materials were gaining earlier, but they are pretty much unchanged now. We are seeing quite a lot of red across the wheel, even Energy Stocks are down. 4 . This comes after three quarters of gains for the stoxx 600 but it looks like we are heading into negative territory on the first trading day. I want to look at sterling. Butre seeing some weakness, we keep talking about shorts building up in the sterling trade. Totalhows a percentage of speculative positions and it shows the markets bearish tilt has been more extreme in the past. Is courtesy of one of our first word strategist. Here, i want to take a look at the german yield curve because if you want to know how
Happening now, donald trump is casting his vote. He is voting at Public School 59 in manhattan on the east side of manhattan. , he is casting his vote, he said he would be voting for donald trump. [applause] [laughter]. Mark 30 minutes away from the close, this is gmm go, global macro movers. Yesterday, we rose for the first day, these are the currency fees rising and falling against the dollar with the pound slightly up. Bond yields and commodities today, a caution ahead of the outcome of the election and a busy day for earnings. It announced plan to shut down 30 Clothing Stores in the u. K. And changing to food only outlets, their ceo wind in the Expansion Efforts of his predecessors desperate assessor, the retailer will shut 53 stores outside the u. K. And begin consultations with over 2000 workers, it retreats from 10 countries including china and belgium. It is cutting is margin outlook for the year underlying pretax profit fell a less than estimated 19 with shares getting hammere
From there in london. The markets appeared to be settling down and we are joined by outstanding guests today. Led by bill gates. He would join us to talk about biotech and drug pricing. Alix cromwell we be joining us more regulatory hurdles facing the banks. But first, we have a slight rally on the table for today. Jonathan features are firming up about. 2 and the ftse is an positive territory and raising all of the post brexit gains. He dax is up as well i want to talk about what is happening in other asset classes. Boris johnson does not run and cable jumps, the pound a stronger marginally. We will discuss why. 1. 52 . Unchanged at we are heading for the strongest quarter for crude since 2009. To wrap up all of the stories, lets go around the world and check in with our Bloomberg Team for indepth coverage of our top stories. Anna redwood is in london on the race to succeed Prime Minister cameron. Julie hyman in new york on the last day of the Second Quarter. Lets begin right here in