Himself. Hey, good morning, everyone, on a momtous and multilayered day in american politics. With voters in two key states heading out to vote. In South Carolina, the republican primary, which is really been a nasty race at points, donald trump is hoping to pull out his second win. Meantime, what jeb bush said last night that has people wondering if his campaign is all but over if he doesnt finish strongly in South Carolina. Race again Bernie Sanders for Hillary Clinton in the caucuses today. A nailbiter. And theres another political layer to all of this. President obama is spending the weekend studying that binder full of potential nominees for the supreme court. Even though republicans in congress have said they may block anyone that the president puts forward. These fastmoving intertwining stories this morning. Were going to start with abcs tom llamas whos in charleston, reporter the polls are open here in South Carolina and the gop candidates are looking for a boost. Because in ju
Streak due to data out of china. Joe it didnt feel dramatic at any point, but after a string of gains, we had a real selloff. Alix you could see it starting u. K. He miners in the that spread over here to the u. S. In particular, the u. S. Metal and mining etf, falling the most since 2011. Not sustainr could the rally. Joe japanese borrowing costs, sovereign debt, the yields continue to collapse. This is a chart of the fouryear bond. Rate 40year government bond. Its continuing with disappointment and growth and inflation. Scarlet in currency, speaking of japan, the yen getting a safe haven bid for the second day, stronger than 15 of the 16 major currencies. The pound had the biggest decline and a most two weeks. All of that stemming from the commodities market and the continuing route. You had oil at one point breaking above the 100day moving average, but could not sustain it, then declined over 4 . Goldman sachs saying you have to short copper, saying it could fall another 20 . Squeez
Sydney, i believe, the first to in and the consensus price target out there about 18. Celebrate the new year. Higher by nearly 30 . We will be doing that in a betty thank you. Little bit. Well get our time. About a half hour into the trading session. China, the u. S. Or emerging i want to head to the markets markets, what region will see desk were julie hyman is the best returns and biggest standing by. Julie im happy to start risk in the coming year . Celebrating right now. We take you around the world to betty break out the champagne. Julie Market Participants are get the outlook from the worlds top banking chiefs. Not celebrating. Selling onng some the Monetary Union is very difficult. The last day of the year. Agree withtions to all major averages are down by a half of percent this year. One half of a percent. Something. They will have to muddle through. I think because of the willexity of that, they right now it is looking like a loss on the year. The yeartodate performance of hav
Is what happened today. And the nasdaq climbed. 65 . What exactly defines crazy town . Its the worshipping of the false god of higher oil. Or even the demi god of slightly higher oil. This bullish stock pandering to the rising stock of oil was a threefold impact on the market that defines crazy town because its so darn positive. Why do the bulls like what do they like about all of us paying more at the pump or having our goods be more expensive because of the cost of energy. First to the crazy town aficionados, higher oil means less stress to the system. We are nowhere near the point where we dont need to worry about oil and Gas Companies going belly up. We need it at 45 a barrel to keep most Companies Alive in this country. Its being used up by cash strapped firms going after the lowest hanging fruit in the portfolios. At 45 so far from here the trouble with Oil Companies can sell futures and lock in, say, 50 bucks a barrel which keeps them around to play o on and maybe pay dividends.
This bullish stock pandering to the rising stock of oil was a threefold impact on the market that defines crazy town because its so darn positive. Why do the bulls like what do they like about all of us paying more at the pump or having our goods be more expensive because of the cost of energy . First to the crazy town aficionados, higher oil means less stress to the system. We are nowhere near the point where we dont need to worry about oil and Gas Companies going belly up. We need it at 45 a barrel to keep most Companies Alive in this country. Theres some cheaper oil, but its being used up by cash strapped firms going after the lowest hanging fruit in the portfolios. At 45 so far from here the trouble with Oil Companies can sell futures and lock in, say, 50 bucks a barrel which keeps them around to play on and maybe pay dividends. At this moment were 9 away todays big run. Thats pretty darn fun. Anytime we get away from the idea that oil is headed down to the 20s the Goldman Sachs pr