Flat. R yen now we had seen it move lower throughout the session but were off the lows of the session and is vix is what everyone watching. 45 is how were trading on the vix. Thats like a quadruple from what we saw last week. Modestly higher. I was interested as to why we didnt see gold spike more. To be about equities and commodities kind of taking on the chin. Raises the question whether its fundamentals or technical. Well be die jekting over the next two hours. For the first take, there are three top stories. You have equitys and what is the fed going to do . David . Were joined by Michael Mckee, Bloomberg International correspondent and the reporter bloomberg news. What happened with the dow yesterday . Ill pull up a screen that tells story of two days in one chart here. One on the left is what happened on friday when we had those out about jobs. The one on the right is what happened yesterday. Michael, what does this tell us . Tells us that we saw return Inflation Expectations ear
Nasdaq climb. 22 . But as much as i love it when stocks go higher i recognize the mark can only go up as much as the earnings let it. Next week we get a parade of numbers that will challenge that numbers fate. Monday, we hear from a company that has captivated the analyst this week, netflix all week weve seen analyst tripping all over each other to raise their price targets in how netflix is signing people up worldwide while at the same time increasing its prices. I typically dont like it when stocks run in advance of earnings like this one few companies can ever live up to the elevated expectations, the hype netflix isnt any company. Its a company that pioneered the company for watching the programs you like without spending all the money on cable. Its a business that can scale like no other. It even have me watching things with titles. So, my prediction is when netflix reports after the close the stock will go up instantly by a huge amount or go up over time after a dip i think the c
Roundtable with tomand trend locked together. Daschle and trent lott. Jonathan very quickly, a big print in the eurozone, core inflation a fouryear high. , up. 6 . Gh on the euro treasuries on offer at the margin. Of the Market Action. Lets get you up to speed on the top stories. Here is emma chandra. Emma President Trump warned there could be a major conflict with north korea if diplomacy fails, telling reuters the u. S. Would love to solve the issue peacefully, but said it is very difficult. At the United Nations Security Council today, secretary tillerson will try to showed north korea the world is against it. In france, the president ial election is a week from sunday. At a rally and nice, Marine Le Pen did not mention her plan to pull out of the euro, but said macron lacked french fry use. Tell thes are ready to u. K. They are united when it comes to brexit. There will be a summit in brussels to discuss the uks departure from the block. They will warned the u. K. Against trying to
Points, nasdaq declined. 52 . For staters, lets stipulate that anything can change beginning tomorrow, when we have the official kickoff for earnings season as citi group and jpmorgan report their earnings. You have to understand that we have had many bullish moves over the market in the last 36 years, but every big move, every move that had really any impact, always had the bank as one of the major leadership groups, the banks are really the reason that the trump trade had such power. Jpmorgan stock rocketed from 67 at the time of the election, up to 73. These are huge almost unprecedented moves and they have been rolled back rather substantially in the last month. The first part of the bank rally was pretty easy to figure out. Going into the election season, pretty much everybody thought Hillary Clinton would in. She wasnt what anyone would call a pro banking candidate. So i think the defeat of the democrats in november, was responsible for at least half the movement back. Add presid
Investors are asking if sterling falls and if inflation shoots up, does the bank of england have a hike rate . E brexit could cause spillovers into the u. N. Economy. Core inflation. But it does see a pickup in inflation. Its delaying investment and spending decisions and the brexit could materially affect inflation and the g. D. P. And jobs. They are not stopping, warning about the risks of brexit. Only a few months ago he said he wasnt going to wade into a Brexit Debate. How things have changed since february. No terrific moves off the back of that warning. My question to you would be, the labor market yesterday, solid. The warnings, do you think into the data . Thats a good question but the p. M. I. Data suggests it is Second Quarter is at. 2 . As you know the end of last year we grew. 4 . The big question for economists and the bank of england is how much of a slowdown of the economy is brexit related . We have had a suggestion that some of the slowdown might be nonbrexit related b