Lets check on the markets for you. Two hours and 30 minutes away from the market opening in new york and futures are a little bit softer. The s p 500 futures are negative five. Over in europe, the stoxx 600 getting beaten up this week coul. The ftse off by 8 10 of 1 . Heres the dollar ahead of payrolls. The eurodollar 11426. The dollar on the back foot they re. A forecast for low inflation down under. Yields are creeping a little bit lower, down a basis point at 1. 4 for the 10 year. Big moves in the bond market, matt. Matt that is one of the stories we will be focused on throughout the hour. I also want to kick off my stock move percent with what is i goig on in europe. Another loss that was 42 narrower than the same quarter last year. A secondhalf rally as steel prices improved. Man group is the Worlds Largest publicly traded hedge fund. Bywas moved from a cell to a off of Hedge Fund Fee structures. Paschi took fewer bad loan writeoffs as they are up, but it is a penny stock for real
European banking and their struggles but a lot going on across the commodity space as well. I am stunned by the gloom among the pundits in the last few days. I honestly can say i have never seen it. Each of them has an interesting shade and color. We will have some optimistic push optimism to push against the gloom. Francine when you talk about gloom, i know in davos, any ceos were optimistic and there is a reshift. Lets get straight to the bloomberg first word news with vonnie quinn. Consumer prices in china keep rising although they are still below the governments target price. It is the Third Straight monthly increase. Food prices with a big reason. Investors want to know exactly what the and come and president does incoming president of the philippines will do. He was elected with 39 of the vote and campaigned on a platform of fighting crime. He has sustained Investor Confidence on an economy that grew an average of 6 a year in the last decade. North korea staged a massive parade.
Particularly the dow and s p. The nasdaq, at one point down more than 1 . It is still down but only a third of 1 . We have seen a correlation between stocks and oil prices. We have the trajectory of each throughout the day today. You see them moving very closely together. As for oil, lets focus on that by itself. It is dramatic its dramatic recovery, we got weekly Inventory Data from the u. S. Government and it was not as poor as Industry Data that came out last night might have indicated. It seems as though there is relief being expressed. We are hearing from the heads of russian conglomerates exiting a meeting with other russian oil heads as well as members of opec. There is talk about coordination. Something alex pointed out to me. No agreement yet but even the idea that they are talking about cutting production seems to be helping oil prices. Alix the saudis have said they will not cut as other countries do and that other country needs to be russia. That would be a huge impact in t
Says it is affecting exports and a lot of places. The beige book. Other than that, the language remains largely unchanged. The updated their broad statement of purpose. Two things are changed. It used to be that the longterm natural rate of employment was 5. 25. 5 . Now, they say it is lower, 4. 9 . Theyve adopted new language on understanding inflation. Concerned if indeed inflation runs below its target consistently, jim bullard of the st. Louis fed dissented from that statement. Hes even more worried about losing the anchor on inflation. Something he has been talking about for a wild. More broadly, what we see is the fed says yes, we see it, we are looking at it, weve got it. Ss. They will assess whats going on. Assess. Ord is scarlet u. S. Stocks taking a leg higher and the nasdaq is paring some of its losses. Now down just. 3 . The two year yield coming down a bit. Year yield now at 86 basis points. Tom we are measured. We are gradual. Dr. Leavy, when i look at a gradual headline,
In delivering on what we said we would do. We cant control how mr. Putin thinks, but what we can do is say to mr. Putin, if you continue on the path of arming separatists with heavy armaments that evidence suggests may have resulted in 300 innocent people on a jet dying and that violates International Law and undermines the territorial integrity and sovereignty of ukraine, then youre going to face consequences that will hurt your country. And there was a lot of skepticism about our ability to coordinate with europeans for a strong series of sanctions. And each time we have done what we said we would do, including this week when we put in place sanctions that have an impact on key sectors of the russian economy, their energy, their defense, their financial systems. It hasnt resolved the problem yet. I spoke to mr. Putin this morning, and i indicated to him, just as we will do what we say we do in terms of sanctions, well also do what we say we do in terms of wanting to resolve this issu