Bloombergs European Headquarters in london. We are getting some breaking news in terms of pmi. Euro area figures pretty much as expected. Greek july manufacturing pmi falling to a record low of 30. 2. We were expecting a figure of 46. 9. 30. 2 is a record low but also very low indeed. Anything below 50 indicates retraction contraction. The Athens Stock Exchange has plunged this morning. We will have the latest from the greek capital in just a moment. First to manus, whos been taking a look at how the market has moved. Not a pretty sight. Manus the biggest oneday move on record on the ase in athens. Down over 21 at the open. Weve been closed for five weeks. The longest closure since 1970. We will go to hans nichols outside the exchange in a moment. You had two quarters of contraction. We are on the way to recession. National bank of greece down 30 . Within the first four minutes the price has crashed. What youve got here is a not necessarily that it saw a huge amount of volume, but the
Possible explosions. Asiana airlnes is fined a half Million Dollars by u. S. Officials for not properly assisting families after last julys crash of flight 214 at San Francisco airport. And, gm expands a recall to 1. 37 million vehicles. The models built between 2003 and 2007 include chevy cobalt, pontiac g5, saturn ion chevy hhr, Pontiac Solstice and saturn sky. The engine can shut off suddenly if the ignition is bumped. The problem is linked to 13 deaths. Trader larry shover of sfg alternatives joins us now on this wednesday, and larry, why is the s p struggling with getting over this 1850 mark . You know it reminds me of 1650 of last year and even 1350. At this point 1850 is going to require growth metrics to get past that level. Its not like last year where the market rallied before the data set so we need growth metrics to prove that we deserve to be above that level. Lets move over to the commodity sector and oats are at a high because theres not enough space on trains. Oil is ta
Electrifiying stock gained another 5 dollars yesterday. After hours the electric car Company Reported the battery factory its building could employ 65hundred locations under consideration are arizona, nevada, new mexico and texas. Jc penney reported less of a loss than predicted. Shares soard more than 7 . Janet yellen heads to capitol hill today. She will share her thoughts about the economy with the Senate Banking committee. Her appearance earlier this month was cancelled due weather. And theres rain to report in the west. Drought ravaged areas such as Riverside County calfornia are finally getting drenched trader todd horwitz of average joe options joins us now. Hes also watching the situation in the ukraine and russia. Will it have and effect on the stock market or perhaps the oil market. I think when you take a look at the ukraine situation as far as the stock market is concerned, i think it will have no effect. It may effect their market but i think our market it wont bother. How
Dollars, oil edged up 17 cents. Twitter tumbles on earnings. Shares fell 10 after the close in very heavy Trading Volume after failing to show wall street enough growth in people using the social media site. Ebay shares fell about 3 even though the etailer topped projections. Its outlook was weak the alstom board accepts ges offer to buy its energy businness for 12 billion dollars. Its a french turbine business that ge wants and reportedly so does siemens, a battle is brewing. Trader Lincoln Ellis ofgreen Square Capital is at the helm of the trading day for us. Good morning to you. What is the fed likely to say and what is the market telling us about what the fed is likely to say . A bit more of the same and i think that tidal wave has turned a bit of that fear of a slightly tighter Interest Rate environment into the welcome news that the economy is actually doing a little bit better. What do you think about the latest earnings news . Does it show us signs that there us growth out ther
Selling friday in stocks with the gold added 3 dollars. Oil 59 cents. Credit suisse will pay 885 million to the fhfa over the sale of Mortgage Backed securities that soured in the housing crisis. Lawmakers are questioning Gilead Sciences 84,000 price tag on its new hepatitis c drug. They want an answer by april 3rd. And, wendys becomes the latest chain to take customer payments by smartphone. We turn now to daniel stecich of athena advisor services. Daniel, how frustrating is this market right now . Its an incredible one, what it jumps on, what it doesnt jump on. Last week we had a pretty decent rally here despite yellens initial comments, when it pushed it down. But the fact is the market looks like its poised for some recovery, not the market itself but the economy looks like its poised for recovery and in the midst of it, well have to see what employment is bringing us. If that brings us good news, this things gonna take off. What Market Movers will you watch for this week . For thi