Power lunch begins right now. Im melissa lee. Donald trump expected to meet with former cia director general David Petraeus later today and expected to meet with mitt romney and senator bob corker tomorrow. The Supreme Court refusing to hear alan stanfords appeal to overturn his 110year prison sentence and the wall street rally is on pause. All three major averages in the red off record highs set on monday. More on the market in just one second. First, we have breaking news. Lets get to sue herrera for the latest. News conference ongoing right now at Ohio State University following an incident that occurred earlier this morning when the campus basically put in place a shelter in place order. Youre taking a look at the live shot by our nbc affiliate. Thats one of the doctors talking about the people who have been injured. This mornings attack initially was thought to be an active shooter. Thats what was tweeted out. However, as new developments come in, apparently it was a planned attac
Vote. Se we are basically seeing this global flight to safety. Look at the japanese yen surging to a twoyear high against the u. S. Dollar. Brexit worries, rising pressure on the bank of japan to respond with a bigger stimulus package in july. The british pound continues to hover around a sevenyear low, coming off the lows. The bank of england warning of further weakness. A pick up in risk aversion helping gold shine, up 23 year to date. And pushing bond yields lower, not just in europe but here at home. The u. S. Tenyear dropping to a fouryear low. The fed statement also part of this story. In terms of stocks, its the european banks that remain under pressure. Active discussion on which banks would be hit the hardest, especially when you consider relocation costs. Shares of deutsche bank. An alltime low. Hsbc among others down about 18 over the past three months. If youre looking for price reaction in the equity market, its those european banks. I think well see more of it as we head
Influential financial actors bring Market Insight to a global summit. I think it is tragic that we have taken rates down this far. I have not seen bubble prices in most assets. The pressure is great on everybody. Ultimately, youve got to produce. Scarlet its all straight ahead on bloomberg best. Hello and welcome. Im scarlet fu. This is bloomberg best, your weekly review of the most important business news, analysis, and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The week began with reports from germany that created considerable worry for investors in one of the Worlds Largest investment banks. Deutsche bank shares dropping to a record low in germany today amid further concerns about its financial stability, whether the government will save the bank if needed. How long can the government distance itself from Deutsche Bank . Well, so, its a very complicated position, because we have an election next year, and we have on
The question is sort of the Yellen Dudley more dovish wing of the fomc as to whether or not theyre adamantly opposed here, but the other guys, i think it was about letting the markets settle down and waiting to see if there was anything more serious that the markets were telling us from the recent volatility. But if things have passed and they seem to be quite a bit calmer than they were previously, then i think that group of people we were just talking about are quite comfortable hiking rates. Steve, thanks so much. The markets were already moving lower throughout the last 45 minutes or so because of whats been going on in health care. Theyre going to react to this more in the minutes ahead. Steve weiss, it brings up the question again, if the fed acts in the next month, stocks are going to blow that off . Look, i dont know market can go up if the fed hikes rates . I believe that if we get Everything Else sort of more comfortable, the markets trade up. I just dont think the fed is the
Calling a bottom in any commodity with all of the inputs like events, like iran and saudi arabia trying to figure out how much they hate each other or dont, right now we are oversupplied by about 2 millionbarrels a day. The oversupply is in north america. We have pulled back about half a Million Barrels a day. Nicole quickly on the fed . Thats only 57 . Nicole we have to wait till june. That will hold off markets for a while. Thank you for getting up with us and giving us Market Insight this morning. Lauren absolutely. Now to campaign trail. Trump gets 34 support while texas senator has 23 . Trumps number jumped 11 points from the last fox poll, that was just a few weeks ago. Now, no other candidate received doubledigit support. Reminder that the Iowa Caucuses are held february 1st. Nicole president ial candidates reacting to reports that former new york city mayor is taking early steps to potential independent run for the white house. I would love to have Michael Bloomberg. Im going t