Us a hand to check in on the turbulence facing the english airline showed today the lets go and die right in. A dismissal by president ial decree for the governor of Turkeys Central Bank leads our global report today as president crosses a new line in his push for lower Interest Rates the turkish president s move was announced on saturday which named Deputy Governor murat ois sall to the top post while mr statement cited no reason for the firing the turkish president newspaper to her yet claims that he told legislators from his ruling party what may already surmised the president by the governor because he rebuffed mr push for lower Interest Rates the turkish lira was down by more than 2 percent in Early Morning trading on monday on the news also on monday ill leave public on a Founding Member of the a k party who effectively held the governments economic portfolio for over 10 years said that he is founding a new rival political movement. Another banking irregularity news indias Punjab
Youre always here to correct my ademocratic showdown. Candidates take aim at big business, spar over health care in their first 2020 president ial debate and boeing shares under pressure this morning, amid growing u growi growing uncertainty about when the 737 max is going to return to service lets talk markets this morning. Trade continues to be the focus, as it has been for so long it does appear at least according to reporting from the wall street journal that weve gotten a series of potential points from xi as to what his expectations may be. The key one amongst them, certainly tying trade specifically to the treatment of washington w huawei, which has been such an important component overall. We want to get to kayla, who i think joins us now shes with President Trump, whos arriving in japan for the g20 summit amidst all of these questions about trade and the ask and what will be received, kayla. Were just a few miles away from President Trump, who has turned in for the evening. Ap
Lets continue with these market themes and try and understand where we are this week. U. S. Stocks fluctuating. I think we are building up to the payrolls. Treasuries continue to attract a bid. We are watching the data. Theres not as much now, but there will be more later this week. We saw the weak pmis. Italian tenure debt briefly going negative for the First Time Since the coalition was formed. ,ark cudmore joins us now normally based in asia, now here in europe, for a take on what is going on around the world. You are more bearish than you were last week. Why the change . Ive met a number of clients for oneonone talks, and i think they are hearing the bullish arguments out there. None of them seem to be overly compelling. Think the two main hopes of the bulls is that ultimately there will be a trade deal. I think that argument is not very strong because i think the longer is trump the only person controlling these trade talks. I dont think china once a deal unless they can be seen t
Partly also a result of oil going down so so much in the past days and he says that if this continues of lets say theres an escalation if there should be Firm Evidence that iran was behind the attacks and the u. S. Should react perhaps militarily then it would escalate and that would send the Oil Prices Back up in late april it was much higher than today so theres still a lot of room for it to move but certainly its something that people are having their eyes on apart from the oil market in equities for example stocks or in safe havens like bonds or gold theres not movement away from equities into safe havens for example we just saw some very dramatic pictures that will be as you were talking about those all time because bunning if things were to escalate further would just leave europes oil supply. Well europe would not be directly affected at least not in the beginning because most of the oil for europe comes from other places leading suppliers or russia norway cause a stir on nigeri
Falling back below 2 . As i said, the s p 500s essentially flat at this moment. The dows just lower the nasdaq down 0. 1 the russell looks down a full percent as regional banks down almost 2 . Joining us for the hour today to break down the Market Action is steve grasso from stuart frankel. Great to have you with us. Good to be here whats your take on this sort of softish session only a day or so after great positive trade news . You have a holiday week, so you have a shortened, abbreviated week you have people looking for either you had a rebalance on friday, you had end of quarter, end of month, end of week. People are starting to take a big, deep breath in. Seeing where they want to reassess, and and redistribute their Equity Holdings its all about the fed people are on fed watch right now. Thats really the only thing that is taking up the brain of a lot of the Market Participants right now. Even though trade is all over the headlines, its still fed. Fed still cut, but the trade tru