Paris. Oil prices are also under pressure with brent crude falling below 50 a barrel amid concerns that President Trumps decision to exit the Paris Climate Accord could spur an increase in drilling. The Global Market rally moves on with the nikkei closing above the 20,000 mark for the First Time Since 2015. And european auto stocks driving higher on hopes that trumps withdrawal from the paris accord will ease the Regulatory Burden on carmakers. Good morning. Its friday. Glad youre with us once again. Lets continue with our top story. Germany, france and italy hit back at donald trump saying the paris climate agreement is not up for renegotiation. Their joint message follows the news that President Trump will withdraw the United States from the 2015 climate accord. Speaking in the white house rose garden trump says the u. S. Will begin negotiations to reenter the agreement with you warned he would only accept a deal fair to americans. The Business World hit out at the move. Goldman sach
That is up from 16 a year ago. Terrorism ranked second, followed by immigration. Chinas congressman said a trade war with the u. S. Should not be an option. Told voters in beijing the disagreements are inevitable. But history shows the u. S. And china can overcome trade frictions through negotiations. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Amanda live from bloomberg World Headquarters in new york city, im amanda lang. Joe im joe weisenthal. U. S. Stocks are rising to records today and the dollar resumed its advance. Joe but the question is, whatd you miss . Amanda the Philadelphia Fed chief says a march rate increase is not off the table, after clevelands loretto mr. Said the same thing. Traders are a long way from being sure of a rate hike next month. And macysalmart rallied after results from the Holiday Season exceeded wall streets pessimistic expectations. Ad, tesla stock has been on tear, up 48
Passesdoing better today session. All major averages gaining and not only that, but building on the gains out of the gate this morning. Similar to what we saw yesterday where stocks had a choppy morning. Then they were up and stayed up at roughly the same level. Take a look. Ive looked at the s p 500 over the past three days. Gaine looking at a 4. 73 over that time. This is the first since december. We have not been having when he as far as this year. When i talk about the groups doing better today, we are talking about cyclical groups, economically sensitive groups. ,e have got materials particularly industrials and tech. That is the theme we have been seeing over the past several sections. Citigroup, bank of america, jp morgan. You could have taken any of the charts and they would have looked very similar to what were seeing today. I am looking at priceline, a rocket today. What is going on . Julie priceline is the biggest contributor to gains, up by 12 . The company came with earnin
The diplomatic spat between saudi arabia and iran, and the fact that they did not find an agreement. Pullback, widely expected. But you really wonder where they go from here. I do not have a handle on what the next next is for opec. Tom we know who is in charge now certainly when it comes to oil policy, the prince of saudi arabia, and we know that opec a second. Nice bow tie. Francine i wore it tom i wore it for the queen. Francine lets go to the bloomberg first word news. Voted in the congress favor of impeaching recess. Now it is up to the brazilian senate. They say it will be difficult eff to win to rous the vote. The death toll is rising due to the earthquake in ecuador. At least 272 people were killed and at least 500 were injured. Some coastal towns were devastated and many people were trapped in collapsed buildings. In japan, the series of earthquakes that has struck the island since thursday are the nations worst in five years. More than 110,000 have lost their homes. Beth kore
And youve got five trillion dollars of outstanding obligations now that somebody has to deal with. Thats in the current of housing finance. Thats not in the future. So, somebody has got to deal with that. And whether its fannie or freddie or somebody else, i mean, thats, i think, a decision that congress has to make, not fhfa. Let me switch topics here for just a minute. That has to do with the mortgage debt relief act. Director watt, i dont think any state has felt the impact of falling home values more than the state of nevada. Congress passed mortgage debt relief act to ensure those who owe more on their mortgages than they do on their homes are now worth would not be hit with additional income taxes. Im not going to ask your opinion on the irs or thank you. On income taxes. But i think its unfortunate. No one gets hit more than lowincome, middleincome families. I think its unfair and i think most would concur that its unfair, that individuals would have to pay taxes on income that