Just under 30 minutes to the close of trading. The stoxx 600 snapping three days of gains, the longest run in a month for europes equity benchmark. Financials leading the losses. Part of that driven by lower bond yields we were seeing earlier in the session. Most Industry Groups in the red and in the green, you do have utilities outperforming. I will about metals in just a moment, but first, a great chart showing european docs. The pricetobook ratio compared to the s p 500 pricetobook, european stocks are at their cheapest versus u. S. Stocks on record by this measure at least. That is something to keep an eye on when we talk about where investors should be putting their money in the equity markets. Looking at the euro, i talked about the ecb accounts and the fact that we got some signals that the ecb with concerns about a stronger euro, so we did see the euro dipped just after thes accounts came out. It has recovered ever so slightly, but we are down to 10 support of a percent on euro
News right now thanks, guys have a good weekend. See you later. Lets get more on the breaking news out of washington our reporter standing by right now, eamon javers has been in bridgewater, new jersey, and has the latest developments on Steve Bannons exit. Ylan mui reporting on the potential impact on the economy. And bob pisani watching the Market Reaction on the floor of the New York Stock Exchange. Eamon, lets start it off with you. Reporter heres the official statement as it came through from the white house earlier today, saying that steve bannon, was, in fact out the white house saying white house chief of staff, john kelly and steve bannon have mutually agreed today would be steves last day we are grateful for his service and we wish him the best this continues what has been a tumultuous year for white house staffers and highlevel officials, both lowlevel folks and highlevel folks in this white house have been booted out during the course of the year. Take a listen to this soun
Lovely to hear the song good morning to you. A very warm welcome to you from worldwide exchange. And total eclipse day were only getting 72 , but im still jazzed about it. 72 is pretty high. Make sure you have the right glasses. First lets have a look at the Global Market picture this morning. Futures view, which did sell off a little bit on friday for the week as a whole, the nasdaq and s p down about 0. 6 . The dow down 0. 4 . So despite all of those crazy political we didnt see that much reaction in terms of selloff. This morning just alle little r on the screen. Lets have a look ten year treasury note, yields slipped back below 2. 2 , again partly riskoff buying, but a slightly dovish set of fed minutes that suggested tapering was more the focus going forward. This morning 2. 185 and trading afternoon the rest of the world, asian markets closing mixed. So we have the nikkei down, you can see 0 aboutme. 4 , but chinal higher in japan, there were gains in oil stocks, but that wasnt e
As well. We have base metal seeing some strength today. Easternt 9 00 p. M. Time, President Trump addresses the nation laying out plans for afghanistan and he will hold a rally in arizona tomorrow, the first visit to the state since he was elected. Whole foods will hold a meeting takeovere the acquisition by amazon and thursday, the Kansas City Fed hosts the annual jackson hole economic symposium. Janet yellen and mario draghi are on the schedule for friday. The big event. Lateran the big event this week as the president heads back to washington, d. C. , investors are left guessing what the latest shakeup in the white house means for policy. After the news van and was out, the markets bannon was out, markets initially were up, but then they closed down. Is jan us now for more lloyd, jpmorgans head of global Asset Acquisition what was the message in the price section on friday . Is worried about where policy is going. We are used to politics. When policy gets affected, in particular, ca
It is now a category 3 storm with sustained winds of 125 miles an hour. When harvey hits the coast later this evening, it will be the strongest hurricane to hit the u. S. In 12 years. Here is the Texas Governor speaking this afternoon. We can tell at this stage this will be a very major disaster. David the president echoing his sentiment, the governors sentiment, just tweeting out, quote, i encourage everyone in the path of Hurricane Harvey to heed the advice and orders of their local and state officials. Fox news case see stiegel is right in the middle middle of it in galveston, texas. The bands are already coming in, are they, casey . I was given a sixpack of beer on live television, david, just as you were tossing the man casually walked in between our shot. I dont know if you made on tv or not. In all seriousness were starting to certainly feel harveys effects, to be honest weve been out here since 5 00 this morning. Only intensifying just as the forecasters said it would. Back out