Stoxx 600 after a selloff in Technology Stocks. Meeting, we understand that russia and opec will extend their production cuts. Eurodollar, im looking at that, also pound. Maybe finding an agreement. With some of her possible coalition partners. Later on, we talk italian banks and risk with claudio costamagna. Interview yousive dont want to miss as well. Minouche shafik joins us in her first tv appearance since leaving the boe. I, we will talk with the socgen chairman. Lets get to the bloomberg first word news. Nejra u. S. President donald trump has nominated Marvin Goodfriend to be a governor of the Federal Reserve. A professor at Carnegie Mellon university and a former director of research at the richmond said goodfriend has served on an independent panel of economists known as the shadow open market committee. Opec and russia are ready to extend their Oil Production cuts until the end of next year to ensure global stockpiles keep falling. Viennang to delegates in , all opec members a
Greece. They did not explicitly ask for it. That is a real change from before, but there is no movement from the imf, from jack lew, and from donald tusk at the eu at the commission asking for a change of actual right now. Tom we will have a special focus in the 7 00 hour with alan ruskin of Deutsche Bank. Lets get you to top headlines. He is unpracticed on this. And in greeley. Brendan it appears greece blinked. Alexis tsipras has proposed a bunch of spending cuts, tax hikes. In return he wants a 59 billion bailout, wants longterm debt to be made more manageable. Francois hollande calls the new plan credible and serious. That is the most important word there serious. Voters rejected a similar proposal in the referendum on sunday. A few hours from now, the Confederate Flag will no longer fly on the grounds of the state capital in South Carolina. The legislature voted to take it down in the wake of the murder of nine black Church Members in charleston. Nikki haley, the governor signed i
S p up 17 points higher and the nasdaq up 38 points higher. Give it a little context. Give it a little context. The china situation. What did it do yesterday . It was bad. It was bad. No today. It was bad. Closed already. Closed already. It had gone down as much as 5 in the morning. So they have indicated theyre ready do more if necessary. But people dont necessarily believe that theyre ready to do more because it can only do so much. And if they truly are trying to open up Capital Markets and inflow and be more free market orient, the more that theyve manipulated, the less it looks like theyre going that way. Right. Because then you dont actually trade on fundamentals. Youre always trading is the government going to come in or not. Weve been trading on that too for years now. You mean like for banking shares . I mean we dont have the u. S. Cogovernment coming in and buying stockmarkets. Are you talking about the feds . You dont believe that. I do believe that. You do. I believe every
Expect sluggish growth. He said he wants to take that think about and rates. Oil is currently unchanged. It has been bouncing around all morning long. Yesterday falling to as low as 42. 75 a barrel. It is entering a bear market, the 21 to its peak, and dollar coinciding somewhat with oil. That is holding your a onemonth high, gaining as much as 1 over the past two weeks. Lets get an update on what is making headlines outside the business world. We are checking in with them on first world news. Has won theel special election for the house seat in georgia for the gop. She took 53 of the vote against democrats. Democrats have hoped to capitalize on debt President Trumps low approval rating. In london, the queen said the government will try to maintain its subtle relationship with european allies. She outlined Prime Minister theresa mays legislative agenda in her annual speech department. Queen carried on without her husband, prince philip. He was hospitalized for an election. In saudi ara
U. K. Flagship store. Sales have home crossed the bloomberg. Lets head to the markets desk with julie hyman. Julie we did see new home sales a decline in estimated but a decline more than estimated. It was 6 month over month. We got the index of leading Economic Indicators that felt by 2 10 of 1 . Economists were forecasting a gain of 4 10 of 1 . But reaction to the housing number, you can look at the s p home and, still higher on the day. We will continue to watch homebuilders to see how they are reacting to that. There was an interesting chart that looked at the number of homes being sold that are about 300,000. That percentage of the total has been rising and we will see how that shakes out in this particular month. Lets take a look at the major averages. Onaking abroad, it is a risk kind of day. Look at the a groups on the move on the bloomberg. Utilities is the only Group Trading lower. That is the only small, red slice of the pie. Financials are getting the most today. The banks