A steady supply of energy is needed to fuel the countrys economy and military. [sachs] typically, American Foreign policy like British Imperial Foreign Policy before it, paid a tremendous amount of attention to securing oil for the economy. That includes who we have befriended, but it has also included us launching wars; stationing military bases; engaging in coups and orienting a massive amount of our Foreign Policy around oil. [mcnally] by world war one, oil was transitioning to becoming the lifeblood of modern civilization. If electricity is literally the circuitry, without which modern life is impossible, oil is the lifeblood. [jacobs] its both vital to our economy and its vital to our military. And that became true once we switched to an oil based military. [narrator] in recent years, the us Energy Revolution has shifted the geopolitical balance. [gordon] this is a new state of affairs. This was not happening a decade ago, but today 80 percent of the oil in america is sourced from
Strong and his secretary disagrees. Oil slows its decline ahead a day of forecast. They are falling for a second week. Yousef it is 7 00 a. M. In easton pull istanbul. Shery i am in hong kong it has just gone midday. A little bit of a rainy picture when it comes to the markets as well. We did get positive sentiment out of wall street. That is faltering in asian trading. We are seeing the japanese yen falling back most of its losses. It was reported by treasury secretary mnuchin saying that a strong dollar is good in the longterm. That is not holding. The yen at 108 spot 93. On the dollar, 75 56. We got rba minutes, which are focused on a week aussie job market and a strong Housing Market Housing Market. You are seeing rand continuing to decline falling for two consecutive sessions. Composite isnghai also extending its biggest loss in four months. It is below now a 50 day moving average. That is something to keep an eye on. China home prices will be rising in more cities since october.
Fda notedter the Incomplete Records during an and action on the plans earlier this month in a note seen by omberg says failure to investigate masses that thats is that did not meet specifications. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. Bloomberg. Ching hong kong and china closed for lunch. Barely moved. Bouncedte back back into positive territory after being in the red. I will be back in half an hour. Ousef welcome to the best of Bloomberg Markets president erdogan with sweeping new powers in a referendum area we spoke to the deputy Prime Minister and has its worries for the lyra. Rex tillerson warned it could be another north korea if its Nuclear Ambitions are left unchecked. Capitalhear from our and see why als are being good. Weekendls best rally is due to a surging u. S. Production. Asking opecs chief model for the take on the situation. In the 2016. [indiscernible] q2 withto q1 and traditionally more the resurgence
Im wilfred frost alongside seema moody. Yesterday we did see a decent futures board this time yesterday and decent open but we lost impetus during the course of the day essentially you can call it a bit of a step back pausing for breath from this posttrump election rally and today were seeing a little bit of positivity but muted given the gains we saw last week, the dow higher by 32 points, s p by five and nasdaq by 11 points. Not huge gains yesterday we saw continuation of some of the sector performance, financials once again the best performer theyve had their sixth positive session in a row. Can that continue again today . Tech suffering significantly, down over 2 . Worst sector yesterday. Big names like apple and amazon have been suffering since trumps election victory. Take a look at european stocks. They did finish well off their lows yesterday. Here in europe. As we can say u. S. Treasuries now in focus with the ten year still above 2. 1 . In europe mixed session right now with
For fandango. Im ayman mohyeldin. Im frances rivera. We begin with breaking news. 76 people have been killed in a charter plane crash in a mountainous region of colombia. It was carrying 81 people, including a professional Brazilian Soccer Team. Also 21 journalists covering the team. Authorities say six people were pulled alive from the wreckage, but only five survived. Local media reports the survivors include three players, a flight attendance and also a journalist. The plane declared an emergency around 10 00 p. M. Eastern time because of an electrical failure. It was about 18 miles from its destination, the city of medell medellin. They could only access the crash site by land. The efforts would continue after sunrise. Overnight, thousands in tennessee are under mandatory evacuation orders. Multiple wildfires are burning in several counties. People captured these images while fleeing from gatlinburg and pigeon forge. Around 100 homes in the area are threatened and 30 structures hav