What we care about and even before the nasdatax cut. I tell you that tax cut be sill something. The u. S. Has agreed to keep pressure on north korea while secretary of state Rex Tillerson asks his counterpart to reduce the violence in ukraine. And good morning again, everyone we are still with you. Lets take a look at stocks, how things are look one hour into the trading session. We did start off on a firmer footing. It seems the momentum has changed. The profit is a little weaker on the day, lets remember, its the Holiday Season lets take a quick look at sectors, see european markets quantiti quantities 51 hundred is trading in the green. The rest are a picture in the red, struggling down 2 . Now we can delve into the sectors and see which ones are standing out a couple days for Mining Sector and commodities in the overnight session. We are overseeing it, to the down side, telecom is down. 3 technology is down almost 3 as well utilities lagging, too our next guest believes looking eas
Lynch. Thats a mouthful, they are under the same umbrella. Talking about the money pouring into the market. Individual money in the latest week, a record 33. 2 billion in the stockbased funds. That is through wednesday. I guess they do it that way. To put that in perspective, stepping back, 278 billion for all of 2017. If you were to maintain that pace and it were to continue to go at that frenetic pace, the gist of the merrill report is things would be looking frothy. Now theyve been saying that for many years, you could go back to a few years into the bull market that celebrates its nineyear anniversary in march. But among some of the things out there, and a big disappointment for me was starbucks. They were very high at holiday sales and a lot of that had to do with dismissing the pumpkin latte. [ laughter ] moving the peppermint latte to the front of the line, and i warned the baristas here, locally, i said youre giving up the cash cow, they said what do you want . And that was it.
Anna it is 6 00 here in london. Lets talk about what happened in the u. S. Markets. Guy looking quite nicely untold the pictures and headlines appeared. This is the s p 500. If we zoom out a bit further there it is. That is the point at which we see the greek writing. Anna show what happened yesterday. Guy that was really positive. Probably a tail coming through in todays session. The greeks having a Global Effect once again. Anna we broke the longest rally in u. S. Equity since january. As you say, the netflix story complete the different up 10 . And internationally annaguy you are one of them. Anna this is a business growing fast internationally. It is the fast performer on the s p 500. Guy lets turn to athens where lawmakers passed the bailout that keeps them in the euro. For now. Alexis tsipras pitched his deal as the best for the greek people. Despite the fiscal measures and restrictions, we are capable of a lot in this country, which will serve the benefit of the majority and res
European markets are well underway and as he has pointed out a number of times they have been of late for our own markets and there they are up across the board. Not bad actually. No, our futures being down is a function of idiocy. Idiocy how about the ten year note yield were right around 210. Yesterday. And also we know if you buy the banks you get some leadership rally and oil goes to 42 they still have no place to put it which is incredible given the fact that at one point we would be in a state of emergency but instead were in a state of glut youre going to pushing and theres not enough people in the refineries they get far earlier than people think. At the same time oil has to come down because its in storage and those that want to ship that oil will get it to the market somehow. The president said to speak on taxes later today. Expected to call the u. S. Economy quote rigged or at least the tax system plus its official warren buffet now the largest shareholder in bank of america
Mixed day with the pivotal meeting of catalonias Regional Parliament coming up. The euro is rising, up two thirds of 1 . Bond yields are gaining. We have had some retail sales data today in the u. K. , retail is the clearly losing the battle against high prices, potentially strengthening the case for the bank of england to raise rates next month. Likeort today showing Product Sales increasing 1. 9 from a year earlier, the fourth straight month of gains. The fastest growth since april mainly driven by consumers paying more for essential items as retailers pass on the impact of sterling drop since the brexit vote. Elsewhere, a mixed day of data for the u. K. , a picture of an economy struggling to gain momentum. And after production rising 5. 2 in august, boosted by better than expected manufacturing performance. Construction bringing back some of the losses sustained in july with a trade deficit unexpectedly widening. And ports jumping. M ports jumping. Jumping. S ahead of the big speec