Earlier. Still up quite substantially. Applied materials, essentially an earnings story, but having an impact more broadly only semis as well. Guy in europe this friday afternoon, european stocks broadly higher on the trade narratives. You can certainly see that in the sector breakdown. Volume is a little light. The pound rising, but the dollar on the back foot this afternoon. Again, the trade narrative feeding into that fx channel. When it comes to the bond market, a little bit of a selloff. We are seeing yields getting a little bit of a lift when it comes to the german tenyear. This week, we are actually moving lower on yields. Bonds in europe, at least at the core, beginning a little but of traction. Trade evidently the narrative this friday afternoon in europe and in the morning in the united states. Stocks rising. White house Economic Advisor larry kudlow saying earlier that the u. S. And china talk everyday , and is now down to the short strokes when it comes to getting that deal
Talking about how it might be wise to park your money in the shorter end of the curve at the moment because that is where you will get the most value. Dollar Index Holding onto those atengthening inclinations 98. 55. Crude back below 60 a barrel. We will speak with paul sankey of mizuho and get his thoughts. S,y a bit of breaking new the fed will conduct that repo 1010 am. And close the then the repo got canceled for foral reaso technical reasons. Mike mckee will be on shortly to explain why this is important, particularly just before this into spaded fed cut. Lets talk about where we are with the markets. We are now seeing a significant dropping in the price of crude. The brent benchmark was down by 5. 5 . Reports suggesting we will see 70 of saudi crude back in the near term. Certainly taking the shine off the price of crude. European stocks feel like they are in prefed mode. You can see that on the other side of the atlantic as well. We are just waiting and watching. Getting into th
Futures up by 253 points this comes after the dow was up yesterday by 230 points. The s p up by 27 points and then the nasdaq up by 92. The gains we saw yesterday were happening even though you continued to see pressure on yields in the treasury market. See how your Energy Prices and that did move stocks in the Energy Sector higher yesterday but again the idea that china is now basically confirming what President Trump was saying, things seem to sound better than they did last week for sure. Hearing both sides come out and make the arguments have been helping the futures this morning. They kind of said were not going to immediately match the new additional tariffs that he was right. So actually we would like existing tariffs to be going down. But both sides are willing to compromise and negotiate and thats a pretty significant deal. But it was their initial matching of the ones that he did. Yeah. Even though they really cant unless they raise the number they cant really match it anymor
Protests as police used Water Cannons for the first time. Manus welcome to daybreak europe. Ae question, are we just on staging post, all out 25 tariffs . Morgan stanley warned of a meaningful risk in the trade war of escalation and a risk of a global recession. If we move to 25 percent on all imports and it sticks. That is the new level of conversation. Escalation risk. Nejra extraordinary times. One trader talking about the fact that President Trump can wreak havoc in ways no one ever thought of. Weird would be one definition of it. Dollaryen, we have already traded through that. Dollaryen is the very personification of where you would want to lean in to. Yen againstlook at the lira. Demolition derby. The chinese vice premier, willing to solve the trade problem by dialogue and calm attitudes. You wantnt think that to buy treasuries at the lowest level since 2016, where might you put your money . Gold, the highest level in six years. Etfs sucking in the money. Have a look at your s p
It adds to the impact on confidence from all the tariffs and it is very muddy. We do not know if talks will happen between the u. S. And china. Both sides seem to be happy to keep it that way. We are off our lows. Oil companies, retailers, you name it, a gamut of companies is lower today. Have happened doesnt Companies Higher and barely higher at that. Moneyar yield flowing into treasuries. Index is shaving off some of the strength. 99. L above the pmike a look at data, the manufacturing isn data we got this morning. The u. S. Joining peers, the u. S. Is the white line and it is incorporating the latest data. You can see it joining all the rest of those countries with the exception of greece. Greece is doing well but germany is the worst performer. And coming in just above the u. S. Is china. Just a little bleaker today. It is certainly turning in that director and, the manufacturing side getting worse and worse. Attention to what is happening here in westminster in london. The british