We will talk to him about why he is doing it and what it is come what has come from it. Alix i hope we can sneak something in there about their activity. Are they seeing a pick up here . David i have burned in my brain just for you. I will ask about it just for you. This is the morning brief. At 8 00, the cleveland fed president will beginning a talk on Monetary Policy and the economic outlook. At 11 30, the u. S. Treasuries will be optioning 50 billion in bills and after the bell, metlife will be recording its earnings reporting its earnings. Alix two and a half hours until the cash open in the u. S. And its a modest risk up kind of day. Kind of moves become the new normal . The u. S. Dollar pretty much on the back foot all day. And sell is buy bonds peripheral bonds. Yields moving lower by about three basis points in the u. S. 60 aalso weaker, under barrel. My chart of the morning, i feel like everyone on the street is talking about it. Dollaryen breaking through key levels like 1. 0
We are waiting for macys earnings to go across, and we look at you updated when they go across. Talking about a weaker dollar. Done 5 10 of a percent. Over all, you are looking at a nikkei that got wiped out. Really confused traders and market participants. Yen shooting up after that. I am taking a look at the contents, q 10s, flatter. Copper is an interesting options move. 10,000 copper by december of next year, started trading at 4. 5 million in on my trade. Jonathan i just assumed you have a bloomberg inside your head and you saw the earnings coming through. Coal, positive 0. 1 . And totalter sales coming and up 4. 32 billion. Estimate was 4. 3 billion. Inline if you are looking at sales. Here is the picture. Down 7 10 of a percent. A lot of retail coming through. Macys as well. Keep it right here. David earningspershare must a little bit. . 72, couldsed to be part of the reason ecb red number. That part of the reason you that part of the reason you might see red up there. First wor
That is what ive been hearing. Lets look at the risk off tone in europe that is being hit the hardest. We are now at eight straight down days and have not seen that kind of streak since 2014, the dax hit particularly hard. A bit of a safe haven bid as far as bund yields. That does not feel like a risk off move in bunds. The dollaryen down 6 10 of 1 . The bloomberg Commodity Index down 3 10 of 1 . Not just oil and copper, the base metals across the board hurt. David now we turn to emma chandra. Emma Senate Republican leaders may have made tax reform a little more complicated. They decided to add repeal of the obamacare individual mandate to their tax package to help them meet the fiscal target but will change the vote calculations in the senate and house. Twice the senate tried and failed this year. The russians have agreed to restructure more than in venezuelan debt. The Credit Rating firm declared venezuela and its state oil company to be in default after missing payments. In zimbabwe
Fourth quarter. The dow, s p, and nasdaq off by. 2 to. 3 . A huge dropoff in the 20day average. Matt not a lot of movement. Not a lot of training. It is Rosh Hashanah today. There are a number of Global Markets closed today. Not a lot of trading. We dont see as much action in the market. We do see a lot of individual stock stories. Cars are the one i am focused on today because we had numbers out that were in line with estimates or beat estimates. The interesting thing is they still missed last years numbers by a lot. Ford has september sales down eight point 1 8. 1 from last september. Last september was fantastic. Inline or better for all companies. General motors is up almost 1 . Fiat chrysler is up almost 1 . That in addition to moves in the banks check that were interesting, wells fargo hit a 52week low. Massachusetts said it was going to investigate Morgan Stanley for crossselling practices as well. Morgan stanley does not take a huge hit on the news but is down with the rest of