We are up off the lows of the session actually. Still seeing a decline. We were seeing a drop of about into thisprices going report. Usually it takes a little time for it to shake out. Out later where oil is trading. Whats going on in the stock market today. A little bit of a drowned downdraft. You into thee bloomberg and take a look at the groups on the move. We were just talking about oil prices and energy has been one of the drags in todays session. Discretionary stocks are weaker. Financials are weaker in the wake of earnings from j. P. Morgan and citigroup that the estimates. There were some disappointments in the numbers and Telecom Stocks falling. Lost videot had subscribers last quarter. Weve got them strength in utilities industrials and consumer staples. That is the balancing act we are seeing at the moment. Toside of stocks and forgot mention bitcoin rising to a record yet again. 5,200 for one bitcoin. Jamie dimon when asked about that coin said, im not going to talk about b
This is what i am looking at. Most in europe give us the action today. Chinese exports seemed to be underscoring the resilience of the global recovery. We are also looking at crude, claiming climbing above 51 and record climbing above 51 a barrel. Bitcoin at a record. Lets get to the bloomberg first word news. Nejra European Central Bank Officials are considering cutting monthly bond buying by a half, starting in january. The program may be kept active for at least nine months. They said reducing quantitive easing for 30 230 billion euros a month is a feasible 30 billion euros a month is a feasible option. The president of the atlanta fed sees says he is not sure the fomc will raise rates in december. This quantifies a strengthening inflation. I think there is much more to learn about what is happening in terms of inflation dynamic. I would say that inflation is starting to pick up. Chinas overseas shipments rose from a year earlier, narrowly missing estimates. Imports rose. That resul
Saudi arabia over the last two weeks. Feels like these days if you want a look at the implications in the oil market you need to be a geopolitical analyst at the same time and know about the ins and outs of the mideastern policy do you think its really just a geopolitical risk premium added to the oil markets is that actually something, the saudi arabia situation, that could impact the balances overall . Well, what were seeing leaving aside the geopolitical tensions for a moment is that there has been lower Production Output in Northern Iraq because of the situation there and we saw, as we said in the report, lower than expected production in one or two other places, algeria, nigeria, venezuela, mexico, lower growth than expected in the u. S added to the fact that stocks are falling as we also see in the report and demand in reasonably strong. There are some underlyingfu fundamental factors that help drive prices, but the situation in the middle east has added further momentum in the u
, it willut the outlook not be a quick fix for the spat with its neighbors. We will discuss what escalation could look like in this crisis. The seal of approval. Goaheadchi gets a from the eu to receive 5. 4 billion euros in aid from the italian government. The ceo giving details as we speak. Well have more on that in a moment. We are less than half an hour away until europe gets going for the cash trade. The u. S. Will return later after the fourth of july holiday. The indications is europe is not going anywhere in a hurry. That is largely due to the fact we do not have a significant steer out of the u. S. It does not look like europe will be anything in a hurry. Lets take a look around the look at the gmm, get a focus on what is happening. Saudi arabias market closing yesterday, the last price we have got, a big move to remember the runup, bear that in mind. Wellmarket will bid bid. In terms of the currency story the peso softened up, the aussie story. An interesting yesterday down o
Left candidate the only two options. Two candidates who wanted to take france out of the European Union. We do have Marine Le Pen. And centrist frenchelected macron. Because of those results, you can see the market is picking up a little bit of ground. Again, this is not unanticipated. This is what most people expected would happen here. There is one candidate that would keep france in the eu. Dow futures indicated up by 219 points. S p futures indicated up by about 29. And the nasdaq up by 58. Friday was a down day for the market. But it was still the best week the dow had seen since the beginning of the march. The s p 500 and nasdaq best in two months. Overnight in asia, take a look, japan up 1. 3 . Hang seng higher, 0. 4 . Shanghai composite was down by 1. 3 . In europe, early trading, again, based on what were seeing in the election, we do see stocks across the continent. In france, markets are up by 4. 3 . The dax is up higher. Ftse up in europe and spain also higher. Taking a loo