Next, and you also have the Federal Reserve hike, people worrying about that. Greece that snap election is being called by Alexis Tsipras. Will that cause more instability . Equities we are on the track for the worst week since 2015 in global stocks. We are in correction territory. You were looking at your screens now at manufacturing, falling to 48. 6. This is worse than expected french manufacturing is not recovering. German data is coming out later. But that french number is not looking good. Gold has been rallying, up. 5 . We are on track and goal for the biggest weekly up since january. Oil is continuing its selloff eight weeks we have seen the selloff in oil, the longest losing streak since 1986, almost two decades. We are at 40 at the moment. Lets look at how the euro is reacting to that french number. Valuellar has been losing as people recalibrate their bets on whether we will see a fed rate reserve hike. Many think it will be postponed until december. But weo is currently up
Another headache for investors after Prime Minister tsipras resigns ahead of a snap election. Unlike the usual attitude of many who unfortunately consider themselves entitled to keep their seats and office regardless of the condition and circumstances. I feel the deep moral and political obligation to put in your own judgment everything i did. That looks to be fairly strong. You have euro zone Business Growth accelerating in the month of august. Composite number of 54. 1 and those pmi point to Third Quarter growth of 0. 4 according to market. They say the weak euro and price cutting is boosting demand. The Market Manufacturing flash came in at 52. 4 in the month of august versus a consensus view of 52. 2 so that is just slightly better than expected but this is unchanged from the month of july in terms of the services number. We have to print a 54. 3 in the month of august and that is also higher than forecast and also a touch higher than what we saw in the month of july. I want to tel
Again. So youre not looking at a bounce back. At least not in the early trade. After you have such rough seas like that its not unusual to see it the next morning. But right now at least it looks like the dow is indicated to open down another 77 points. Yesterday closing below 17,000 for the First Time Since october. The s p 500 is down another 8 points after closing down by 2 yesterday. Check this out, though, the dow negative on the year. S p is negative on the year as well. This is decline of 2 yesterday for the dow. 16990 is where it closed at the end. Its at risk of the annual winning streak for six years in a row. We should point out the five dow components hitting 52 week lows yesterday includes utx, conoco, exxon and Procter Gamble an intel. Japan was down by 3 as well. Shanghai composite down and hang seng composite down by 1. 5. Chinas august flash factor pmi. Thats a key Manufacturing Index. It dropped to a 77 month low. Do the math on that, thats more than six years. Domest
Exchange on cnbc. Im wilfred frost. Im Contessa Brewer in for sara eisen lets get to the Market Action yesterday a pretty big selloff we did come off the lows by the end of the day still down just over a percent for the dow. A little less than that for the s p and the nasdaq financials took a big hit that sector within the s p down 3 insurers down more than 3 of course theres another hurricane and storm approaching landfall or makes landfall last night, that was onefactor. We saw the banks selloff almost as much. Yields moving lower. Either way, we are bouncing back a bit today. The dow called higher by 30 points nasdaq by 16 s p bir 4 poiy 4 points the tenyear treasury which saw a significant move lower in yields ended friday 2. 16 yesterday the low was 2. 06 now 2. 075. A large part of that, all of that risk off move yesterday was down to north korean tensions. And the same thing is weighing on asian stocks this morning. Looking at the equities overseas, the nikkei is off by 0. 15 .
Across the board with the exception of the italian ftse. A quick look at wti crude right now, wti if youre buying it buy the barrel, you can do it for 48. 91. Hurricane irma one of the most powerful atlantic storms in a century. Its churning its way across the caribbean towards florida. Kalee dionne joins us live from cnbc headquarters. Whats the path . Reporter the path is westnorthwest at this point the question still lies when will it turn to the north . Thats something well be watching throughout the day. The latest update from the National Hurricane center, it maintained its 185mileperhour winds. Its just to the eastsoutheast of st. Marteen, and conditions are deteriorating there. This will continue to move at 16 Miles Per Hour that pressure continues to drop. As that pressure drops, the winds will maintain that speed or continue to increase. Everyone is wanting to know where is the track i dont want a lot of people to focus on where it will go as it moves closer to the u. S. At t