Stuart well, look at this, stocks up, despite what is happening overseas. Will this hold . As a tense, weekend begins. Look at the s p 500, that is a Broader Market average. It too slightly higher this morning. Look at gold. Where are we in times of crisis with the price of gold . Right now, were above 1300 an ounce, basically flat on the day so far. Here is the key indicator today. It is the yield or the interest rafted on the 10year treasury. When you get money moving into government bonds. That is called a flight to safety. Thats what wee got. Were at 2. 37 . What is it three weeks ago . We were 2. 6 . That is a flight to safety. By the way at one stage investors had to pay the German Government to take their money. Called a negative interest rate. It happened. Briefly. I want to give you details what is going on overseas. The pentagon confirming, airstrikes in iraq. Two f11s launched from Aircraft Carrier in the persian gulf. The uss george h. W. Bush. That was the name of carrier.
Power over fiscal policy in individual states. Air france klm is one of the worst performing stocks in europe after the carrier strikes force to issue a profit warnings. Tesco is upgraded by hsbc, sending its share price over 3 higher. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And as we said at the top there, were at a 1 1 2 month low in European Equity markets. The stoxx 600 is off 0. 5 today. The stoxx 50 off a similar amount well, actually, it says roughly flat. Lets look at those individual markets. If you would think looking at the sectors, the likes of autos, the likes of travels, utilities is the only outperformers. The ftse 100 is out 0. 4 pergs. Germany is down 0. 6 . France off just a little bit. Lets look at bonds. Panic selling in equities yesterday also meant panic buying in bonds. That follows the imf forecast only slightly downgraded its Global Growth outlook for this year and next year. Nonetheless, a flight to safety
Change or make the japanese find another way to grow other than just dump their cars on us. Yeah, weve come to accept that the rest of the world is relying on the u. S. To help them and we dont like it. Its too hard. And that reaction led to a wholesale selling of american stocks today which is how the dow tumbled 252 points s p fell 1. 3 nasdaq declined 1. 03 . Hideous. Yep. You know what, its become a zero sum game. We know that other countries are going to keep weakening their currencies, and were going to get earnings from those countries that arent as great as they were. Because our Companies Report in dollars, not yen or euros or rials. And while i always plead with you its a market of stocks not just some giant asset class, my pleas have fallen on the deaf ears of hedge fund managers, that dont trifle with individual companies. They just accept the dollar is going up and going up so much that its per se bad for all american stocks even those who it actually isnt bad for. So the
Creditors are favorable for the governments package of new. The debt crisis has raised worries that greece might leave the eurozone but the president says that is not the cards. It is not discussed. It shows we have a Strong Political commitment to keep the eurozone intact to keep its integrity intact, and to Work Together strongly. I think that is key. If politicians dont have that determination, a gives a very strange and negative signal to the trust we have any monetary unit we have built. Betty the current bailout expires on saturday. Greece isnt the only country facing a cash crunch. Wartorn ukraine signaling it will need more money sooner. The International Monetary fund has promised and officials of indicated that might not be enough. Several countries are meeting and europe today to try to make both sides except a ceasefire deal as fragile as it is. Prosecutors want to know if the worlds biggest bank minute belated gold and silver prices. People familiar with the matter says 10
Alltime high. The blue chip dow index breaks above 18,000 for the first time this year and not to be outdone, small caps also finished the day at a record. Strong Economic Data out of europe gave the markets a lift early on and hopes that greece and its creditors will reach some sort of deal when they talks on monday. Dow jones rose to 18,019. Nasdaq gained 36 points to fresh 15 year high and the s p 500 was up 8. For the week the dow rose 1 . The nasdaq up more than 3 best week since last october and the s p 500 gained 2 . The Energy Sector was helped by a 3 rise in west texas crude. It is now up nearly 20 from its lows last month. Brent crude back up above 60 a barrel actually above 61 for the first time this year. Both benchmarks have now risen for three consecutive weeks. Whats behind the broad based runup and is a sign the bulls will stay in control . Dominic chu reports. Reporter it may not feel like it for many investors but we are once again at record high levels in the stock m