Product profit increase but can it be sustained . Well find out when we speak to the cfo in 45 minutes time. We are now half an hour away from the european open, caroline lets take it look at where we think it will take us this morning. It looks like a mildly negative start for the european day. This is the fair value calculation. The dax 00 it will be just positive, Everything Else looks like it will be negative but only just. It looks like a fairly flat open. Rebound iny we saw a minors when it came to europe and that seems to move into asia, helped by copper trading up 0. 8 . Brent crude oil is currently flat. There have been concerns about nigeria and the niger delta being evacuated and concerns about the safety. There seems to be a supplydemand dynamic. Yesterday andckup it seems that commodities go higher and so do stocks. We will be digging so much more into the dollar index because its down a quarter percent but goldmans sex says go long on the dollar. We are underestimating wh
Mea meant. Investors run for the exits. 181 points. Speed plunging 9. 4 . The house of pain. Remember how this market works. It has not one but two masters. The first is oil. If oil rallies, the stock market almost always goes higher. Thats been the pattern. Been the pattern since the bottom on february 10th, which is easy, because its my birthday. The federal reserve. Its one mean task master. Bulls want this these two separate. You know who always wins in the bear is almost always the first, lets set the stage. Yesterday was one of those bizarre up days where nothing happened. Nothing significant from any government. It was a terrific sign that in the absence of news, maybe the market wanted to go higher. However, the sign was a false one. As we found out this morning at 8 30 a. M. , when the bulls got some unwelcomed news. An astonishing pickup of inflation led by higher rents, medical care and an increase in energy prices. These all amounted to a. 4 increase in the cp a. Thats the
To that vote. They have turn into small losses for the industrials. Down ten points. Nasdaq holding ton a very slim gain of about 4 at 4847 and the nasdaq is higher by 1. 6 . Lets kick it off with the first of those bs and that is the brexit vote countdown. We are just 12 hours, 59 minutes, 11 seconds away from the vote opening up in the uk. The polls do seem to show rather even split for stay or go. Perhaps the market and the wisdom of crowds is selling more of a stay story. The uk stock market having a great run lately. We pointed it out yesterday. Were up again today. Four days in a row of gains for the uk. The banks doing especially well. Barclays, for example, up 10 over the past week. Some of the other ones, lloyd banking group, prudential have also done very well. Lets look at the british pound. Its been on fire lately. In fact, a few days ago the pound had one of the best days in a decade. As you might imagine, were going to have lots more coverage of this brexit vote you might