Staying with commodities, my chart has to do with the most heavily traded brent spread. February versus march. Now it is unchanged. This is all about the pipeline that leaked. David we are back to oil and copper. Major turn. Time for the morning brief. We are going to get Consumer Price index numbers. Feds decision day for the at 2 00 this afternoon. The Federal Reserve is expected to hike its rate again with a janet yellen News Conference. At 3 00 this afternoon, President Trump will speak at the white house giving his final statement on tax overhaul urging congress to get a bill to him for signature. That is all coming up today. Last night, the news out of alabama really rocked the world as wanted a most republican states elected its first democratic senator in 25 years. Doug jones addressed supporters late last night. Crossroadshas been a. We have been a crossroads in the past. We have usually taken the wrong fork. Tonight, you took the right road. Welcome kevin cirilli. It really w
Yield he 10 year 2. 93 on the 10 year yield. Pivotrt of the morning to of the weaker dollar has to be dollaryen continuing its move below of critical support levels. Nonetheless, the question of the stronger yen, is it a safe haven play . Is it the hedging . A lot of question marks to what its doing. Companies arent so fine with it. It does not do well for equities. Taylor riggs is here with first word news. Taylor in south florida, a 19yearold former student has been charged with 17 counts of premeditated murder after the Deadliest School shooting in the u. S. In five years. Cruz open nikolas fire with a semiautomatic weapon. He had been kicked out of the school last year. 15 wounded survivors have been hospitalized. President trump plans to meet with mexicos president in the coming weeks. Relations between the countries are strained. President trump as insisted that mexico pay for the wall on the border. He has demanded mexico agree to changes in the north American Free trade agreeme
For the s p and the dow. The s p is up about half a percent. The best equity gain yesterday in two weeks. We are building upon that as we gains across the board. We are near the intraday highs for the s p and thehead to the. There is Technology Shares that are tumbling, twitter and yelp. Twitter came out with disappointing numbers today. M easily 2 million a measly 2 million active users. Yelp down a record 28 . Part of that has to do with their cutting their Sales Forecast but also cutting back on their National Branding campaign. Lots of analyst cutting their forecast on the stock, rating on the stock. A different story in commodities, inventories in the u. S. Dropped by over 4 million barrels. Were actually a gain which is why youre seeing nymex crude higher than 2 . Giving a dropon in oil prices has gone down. Also looking at industrial stocks and commodity stocks. Ohs are higher today. Lets take a check on those are higher today. We can see selling in the 10 year. 3 for the 30 yea
Same story taking place in the broader market. The s p 500 is up nearly half a percent now at 21. 02. Twitter and yelp have been tumbling on this wednesday. Tech stocks taking a beating. Twitter down 14 . Twitter shares falling the stock is down just over 9 . Twitters Top Executive saying growth will take some time. Yelp is slumping this afternoon. Shares down nearly 29 after it reduced its revenue forecast and is cutting National Brand advertising. Lets move on to oil and gold. Oil is on the rise today after u. S. Crude stockpiles unexpectedly decreased and production declined. 4923 crude is up 2. 6 at 49. 23. Gold futures are slumping, now at 1094. 80. Betty a check on the bottom markets right now people you had housing data you are seen yields rise. Waiting on the timing and pays for a rate hike. Causing a gap between the two year yield and 30 year yield to narrow. Finally, on the currency markets , Commodity Markets dominating for Exchange Trades foreign Exchange Trades. The top st
That the ecb is continuing crude getting a nice bid on the iran conversation. Looking at the banks, bank of america up 6 10 of 1 . Wells fargo unchanged. It feels like a really solid quarter for bank of america on earnings. It was the Consumer Banking unit that felt really good. Loans and deposits were up. They werely only at 834 million. David it looks very solid but we looked back to yesterday and thought citi and jpmorgan were doing well and they turned over. Alix fic was down 22 . Is the focus for banks turning to consumer loaning, which will make wells fargo allimportant . We want to turn to Michael Mckee with a very special guest. Michael good morning. Washington federal and Eric Rosengren joins us on the boston fed annual Monetary Policy conference. A special welcome to the Bloomberg Television and radio listeners, particularly those on one of 6. 1 fm in boston. Thank you for joining us 106. 1 fm in boston. Thank your for joining us. Nice to have you in boston. Michael we know h