A lot of anyway snaysayers. Smart money, right or wrong . Smart money right in terms of weve had an incredible run to the up side, considering where we came from brexit. Rather be in the market an buy cheap protection. Paul briton on, talking about volatility, we bring it up constantly. If you can ride this market, this bull, youve been able to ride probably the last couple of hundred points in the s p because of the fact low volatility has given the opportunity to buy that protection at a cheap level. If you werent doing that, and youre just sticking with these stocks, i do think youre playing with fire. At some point in time were going to see a pullback. Werther that means 5 , 10 , whatever, i dont think you should be in the market if you dont have protection. Josh, it started back in april. Paul singer make as great deal of sense to own gold. Stan druckenmiller, bull market exhausting itself. Get out of the stock market. Icahn, june, false market. Jim grant in july, still bullish to
, will the double down . Watching the ftse 100 on the back of that m a news. Look how we trade ahead of the market open. France, italy, bank holiday. Markets are open, but we could see light volume. Stoxx above the 200 day moving average, can we see sustained gains after the postbrexit . Aboute will be talking italy and france as well. Will be throwing water balloons at each other today. We do have markets expecting light volume. Let me walk you through the morning gmm. Japan and focus. The front end of the japanese curve, more dismal data coming through. From a currency point of view, the markets look calm. The japanese yen not doing much. Here is bloomberg first word news. Thank you. Grew less than forecast to the end of june, gdp expanded by 0. 2 and the second quarter, less than the median estimate of economist for 0. 7 . The data comes as business spending contracted for a Second Straight Quarter, and exporters struggled with the resurgent yen. The european from union could be del
we will talk about what is happening with the payroll number and what is happening with our interview with Vladimir Putin. The week oil has had . It has been shocking. We may about the idea see stabilizing in that market. A lot to talk about. You have a great conversation coming up. You have an allstar cast and preview. Alan krueger will help us. We are going to get fresh reaction from the white house with jason furman. Alex a positive tone into the eight 30s jobs. You have to look at where investors are going into. Theyre going into health care and the safety trades. Market, it is about the stronger dollar. The dollar is stronger across the board. Up . Rent Vladimir Putin saying a freeze can happen between russia and opec. That is helping oil, which has had its worst week since january. In the bond market, look what happened to the japanese 30 yield 30 year yield. This is what happened. Bmj went to the market boj went to the market and bought maturities 10 years or shorter. It is not
Live from bloombergs european headquarters. I am Francine Lacqua. We have a great panel on banking coming up. This is a picture for the markets. The pound dropping by the most in weeks after the prime starter announced it will rolling the u. K. Out of the eu. We are getting manufacturing pi pmi coming in inline. Brexitldve had if any impact, 52. 6 is the figure for eurozone manufacturing. Overall european stocks unchanged. The pound on the pound weakening. About Deutsche Bank will be played out in the states. We do seem closer to a resolution on the doj number. , 2. 4 higher. Lets get to the bloomberg first word news with nejra cehic. Nejra the pound fell after the british Prime Ministers says she will pull the trigger on exit on brexit by the end of march. A twoyear process of taking the nation out of the european union. The confederation of british industry has called guidance on how u. K. Business will trade. Meanwhile the u. K. Chancellor Philip Hammond will use his first majors be
Reports he may have avoided paying federal taxes for 18 years. Many are wondering if he could recover from his worst week in the campaign. Halfway into the trading day. Good to see you. We are talking about company basicallythe pushing the market to the downside as you can see what majors with the industries now. Premuch similarly for the s p 500 as well as the nasdaq. Over the past four quarters, we saw gains for the s p in the dow and we are starting the work order of the year on a negative note. Lets look at some of the best performers including tesla, netflix, tesla coming out talking about how thirdquarter sales or cars came in a little better than expected. It is still sticking with a by the end forecast of december. Netflix is up here. Outage overpower the weekend if you are watching netflix. This is a serious by marvel called luke age, a lot of Binge Watching caused the outage. Resorts also rising up 3 because of september, lets go and flip up the board and see what is happenin