That wages are not necessarily increasing the way economist anticipated. Pimm the worst performance in wage growth ever on record back to 1982. Scarlet the Consumer Confidence number was a little lighter than what economists had anticipated. Look at oil companies. That is the s p 500 intraday. The s p 500 taking the worst hit exxon taking the worst hit. Was not far off. Lots of superlatives and none of them positive. Lets get a check on oil prices and gold. Nymex crude down. Brent down 1. 5 . Gold up by 0. 5 . Pimm lets see how the wage report reflected in the bond market. A little bit of buying at the 10year and the 30year. Look at theemonth 10 year yield. Yields are down. Prices up. People interested in buying the 10year. Lets take a look at the currency. The dollar is unchanged against the euro. The dollar weakened against the japanese yen. The dollar continues to increase in value. All at stake a look at something youve got in your terminal. Scarlet we want to end things off with h
Happen at this point its a tax cut plan which is still positive for the economy. In terms of whether it will get done this year, people are discounting that if youre watching the markets, markets are hanging in there with some of this. The dow is indicated down by 50 points, the nasdaq down by 4 1 2, and the s p down by 5 they are all coming off record closes its been seven sessions in a row for the dow thats higher. The s p is up six out of the last seven sessions. Well see what happens slightly lower indication for the morning. Well see if that holds out. Overnight in asia, in japan, the nikkei was down by 0. 2 . Stocks were higher in china. Hang seng up by 0. 8 shanghai up by a third of a percentage point in europe, in some of the early trading we have already been watching today, you will see right now it looks like theres some modest declines the dax is down by 0. 3 . The cac in france is off by 0. 2 ftse is flat in media news, rocking the media world because it intersects with th
The sfenate flaplan ylan reporter we dont have to rely on sources because the Senate Version of the tax bill is now officially out. Here is some of the key details. As weve been reporting, it would delay the introduction of the corporate rate cut by one year to 2019 however, it would get down to 20 and stay there permanently it would also limit the ability of companies to deduct their interest, but give them full and immediate expensing for five years. The individual side of the senate plan is quite different from the house version of the bill the Senate Version has seven individual tax rates the top tax rate is 38. 5 . The senate bill will also include a full repeal of the state and local Tax Deduction. Now, that gives them a lot of money to play with to do some other things in the bill such as keeping that 1 million limit on the mortgage Interest Deduction. The house version of the bill had lowerered that for newly purchased homes. The Senate Version of the bill it keeps it at its cu
10year, we have Michigan Confidence on the way in an hour futures pointing to a lower open, the fate of tax reform and progress spooking some invest investors. Taking on netflix, disneys yet to launch screaming service. And forget black friday, the Worlds Largest 24hour Online Shopping spree getting under way in china today with more than 20 billion worth of sales forecasted futures are in the red looking to extend yesterdays sell off as uncertainty over tax reform appears to be taking hold on wall street the dows drop was first in eight sessions and both on track to post their first weekly losses in about nine weeks some of the coverage over the senate bill, mike says looms a showdown looms between the senate and house. I think the challenges are more in focus than maybe the potential opportunities. I do think yesterday interday, you definitely got that little ripple lower when it seemed like there was going to be delay in the Corporate Tax rate cut but in general, i think the market
And the guy who put billions of dollars to work in shale. What does he see as a potential growth opportunity. If you are shale, you have opec doing the heavy lifting now. Totally. Jonathan you should be very happy with that. Crude does not stabilize. These are the stores this totally. Jonathan morning scores this. Eurodollar stable. Yields higher by a single basis point on the 10 year. David time for the morning brief. We will get data on the u. S. Economy. Weekly jobless claims, wholesale inventories and the advanced good trade inventories for april. Brainardrnor lael takes part in a discussion on the Global Economy in washington. Thejim bullard speaks on u. S. Economy and Monetary Policy in tokyo. At 1 00 the u. S. Treasury will sell 28 billion in sevenyear notes. Coffee. W we have opec extending production after last years agreement failed to limit the global oversupply. Said nineoil minister months is a very safe bet. We found out that nine months with the same level of production