0. 75 . No real shockers. Will they or wont they raise rates come september . Some of the language seemed to be upgraded. Some games before raising rates. What will that word mean . Youve got breaking news of u. S. Gdp later today, spain, austria, sweden, all giving us their gdp. Spain rising 1 as expected. Lets have a look at how the euro is faring. We saw the dollar rally on the back of that positive language on the job market, saying the improvement is solid. The Federal Reserve said yesterday, euro lower. Look at the dollar, up 0. 4 at the moment. We are currently seeing u. S. Dollar on a tear. Dollar is going to its biggest monthly gain since march. Lets also check in on oil. We are seeing a bit of a bounce up 0. 3 . Supplies cut in the United States. That seems to be pushing up oil. No relenting to the pain for the oil majors. I could have told you about so many earnings. I could have told you about the biggest Engineering Company in europe, siemens. Thats a beat. Ab inbev, thats
Interviews coming up over the next couple hours. Have ago. Francine we have a lot of earnings. Descalzi,o, claudio about 10 minutes from now. Accors ceo will talk to us at about 10 30. Stay tuned for all of this. Manus shell is cutting 6. 5 thousand jobs, reducing investment by 7 billion. This comes as the slump in crude oil prices continues to take its toll. Francine the company is planning for a prolonged downturn despite an earnings beat, reporting a secondquarter profit of 3. 8 billion. What the oilws price is going to be. It will depend on how demand will grow for oil, how supply will shrink. Run, weve in the long will see Oil Prices Back into the 70 and 90 range. Manus lets speak to bloombergs chief energy correspondent, javier blas. Protecting the dividend, cuts, what did you make . Have you main take away is a change of language. Three months ago, it was about going back to 90 in three years. Now they say, todays oil price will last for several years. It is a significant change
Welcome to the polls. Life from bloomberg headquarters here in london. It is jobs day in the u. S. Forstors will be searching meaning in the numbers ahead of the september Federal Reserve meeting. It may not be super thursday, but the u. S. Has key Economic Data on friday. The next to last jobs report before the Federal Reserves meets in september. The economist we raised we theeyed, predicts with unappointed rate Holding Steady at 5. 3 . As long as job growth and maintenance trend, with an average growth of 200,000, economists inc. The Federal Reserve will raise rates as early as september. Showed calls it a case of me why i shouldnt. One of the reasons the fed shouldnt is because of wage rates. The average will rise 0. 2 . And 0. 3 yearoveryear. Growth and pay is the one missing factor that would help push inflation up to their 2 target rate. Last week there was a negative sign for wages. The employment cost index which measures hourly pay an annual salary rose in the Second Quarter
Agree on a plan as well . Greece. Is there for lets have a look at the euro. We are basically trading flat. Expectations were 225,000 jobs to be added. 200 15,000 jobs being added to the u. S. Economy. You are seeing the dollar trade flat today. I want to show you the Market Reaction on friday when we did see that sudden spike higher when we saw that number come in ahead of 200 thousand. Lets have a look at the commodity trade. The china effect. We are seeing copper pretty much flat. Not much of a selloff. We saw moves in the aussie dollar and the kiwi. When it comes to the recourses, pretty flat. Copper, resilient, moving that little bit higher. Lets look at what is happening in turkey. We are talking about geopolitical risks, tragic bombings in istanbul. We did see a move in the turkish lira. This is currently flat at the moment. The market taking it in stride. We have not seen turkish stocks react that wildly. Oil trading lower once again. More u. S. Rigs being added. Still, the sup
Again. So youre not looking at a bounce back. At least not in the early trade. After you have such rough seas like that its not unusual to see it the next morning. But right now at least it looks like the dow is indicated to open down another 77 points. Yesterday closing below 17,000 for the First Time Since october. The s p 500 is down another 8 points after closing down by 2 yesterday. Check this out, though, the dow negative on the year. S p is negative on the year as well. This is decline of 2 yesterday for the dow. 16990 is where it closed at the end. Its at risk of the annual winning streak for six years in a row. We should point out the five dow components hitting 52 week lows yesterday includes utx, conoco, exxon and Procter Gamble an intel. Japan was down by 3 as well. Shanghai composite down and hang seng composite down by 1. 5. Chinas august flash factor pmi. Thats a key Manufacturing Index. It dropped to a 77 month low. Do the math on that, thats more than six years. Domest