Gains. Markets and euros doing nothing, even with some german confidence numbers. In the bond market, treasury yields up by three basis points. A steeper yield curve in todays session, as wall street gets back to work. Lets get you some headlines outside the Business World. Hears taylor riggs. And russia have agreed on a former to extend Oil Production cuts, according to people involved. The agreement is set to extend cuts to the end of next year. Balkinglin has been anthonys foreign extension. The current deal doesnt expire until the end of march. The Holiday Shopping season is officially underway, some stores in the u. S. Got a jump on black friday sales. Brickandmortar chains are having positive optimism about their prospects. Theres a signal the former Trump National security adviser Michael Flynn may be in discussions some time with special counsel robert mueller. Lynns lawyers have quit sharing information with President Trumps legal team. The president fired flynn for allegedly
Crude is rebounding a little bit after a couple of days of a selloff. The euro is weakening against the dollar because the u. S. Dollar has been strengthening so much over the past few days. That yield curve spread is actually widening for a change. Its up a little bit. I have been watching this. The greek has come down. It has gone down about 4. 5 . David that is remarkable. It is jobs day. We are going to get those u. S. Jobs numbers for november. Spacex will be launching a falcon 9 rocket to deliver cargo to the International Space station. When bitcoin day it comes to wall street. Futures contracts on the cryptocurrencies, the banks are figuring out how theyre going to respond to all of this. Its time to our first take. We discussed the top three stories of the morning. Up first is the deal on brexit. Theresa may got the goahead it. The second story, the rise in the u. S. Stock market pointing to more gains through the end of the year. , u. S. G news coming out jobs numbers for nov
The trading session. Abigail doolittle is here. It looks like theyre trying for a lastminute santa claus rally. Absolutely. We dont have alltime highs. Record closing highs. Lets see if the dow can hang on. Just talking about the tax reform bill. Read tacit for mania. Reaching its target for the s p 500 to 3000. A lot of anticipation about what tax reform might do for stocks and the economy. We have some movers based on tax reform and the tax reform bill. At delta, we have gains saying they expect all u. S. Airlines to benefit from aspects of tax reform. Delta is one of Deutsche Banks top Airline Picks for 2018. And wells fargo trading higher as they are saying they will use lower Corporate Tax rates and a bit of a hike for wages. We have seen a big selloff for bonds. It is a longerterm chart over the 10 year chip yield. Just recently on tax reform as yields have shot hire and bonds have sold off, the 10 year yield is climbing out of this range highs of therd the election, suggesting w
The busiest days we have had in a while. Extending declines at the end of the week, said to be dominated by the central bankers. We are seeing persistent, low inflation. The dollaryen and gold are train lets get straight to the bloomberg first word news. Reporter off the coast of singapore, 10 sailors have been injured and search and rescue efforts are underway after the uss john mccain collided with a cargo ship. Significant damage to the hull triggered this. South korea begin their military drills today, actions that could lead to war. This follows weeks of heightened tensions, including kim jong guam. Hreat to attack the u. S. , mexico and canada have ended the first run of talks on the north american trade agreement, saying commitment to wrapping up the negotiations with a farreaching deal. The next out of talks is scheduled for the start of next month in mexico. A then moved to canada later in september and back to the u. S. In october. Additional rounds are being planned for the
The president will be addressing military strategy in afghanistan, shortly. In u. S. Dy the largest history. Betty good morning, folks. It has been another busy news day, not least because half the country was watching the solar eclipse. In the meantime, as we are awaiting the president and his speech on afghanistan, we had many lieutenants are talking again about policy. Was one, the treasury secretary at an event in kentucky with mitch mcconnell, and he was talking about tax reform, and one of the most contentious areas of tax reform is the carried interest, which President Trump had noted is a carried interest break for the 1 . He noted on the trail i am going to pull it. A little bit of a turnaround for mnuchin. They said they would that to continue the carried interest for funds that create jobs. The hedge funds are evil. Get rid of them before the other funds that actually create let us keep them. He struck a different tone. Let me play this for you guys. Permanent is a lot bette