Italy overtakes china as the country with the most coronavirus deaths in the world. Gains in france and spain. Removing the red tape in america. President trump says he is working to speed up approval for treatments as teva rushes to bring a malaria drug to patients. California orders its residents to stay home. Rush hour refuses to submit to saudi arabias Oil Production plan. The kremlin sees riyadhs move as blackmail. Is there more turmoil ahead . Just under an hour away from the start of cash equity trading across europe and in the u. K. Lets take a look at futures. We are seeing some decent gains in european futures, Even Stronger than what we see in the u. S. You can see euro stoxx 50 futures up 50 , as of the futures for dax. Take a look at u. S. Futures. More than 2 gains with nasdaq futures up 3 . If you take a look at the big drops during the recent crisis, the nasdaq has fared far better than the s p and the dow jones. Today looks like it will do better in terms of gains as w
Will it make its way back to zero . Seems to be part of the conversation building in markets. Barrelumped above 65 a as supply disruptions in iraq brought concern to geoPolitical Risk. With more is Annmarie Hordern. Detention we are seeing in libya and iraq come very different in nature. What is the impact of these on oil supplies . Annmarie they are both geoPolitical Risks to the oil supply. In libya, the government says we could go to 72,000 barrels a day. This has to do with the eastern military commander. He has a blockade now on the port, so actual supply is not disrupted. The market may be shrugging off a little bit because in days or hours, that blockade could be lifted. Iraq, while it is a minor disruption, which is producing more than 4 Million Barrels a day, it opens up a window of worry. Just last thursday, the iea says iraq remains very vulnerable. It is more about could the supply threatened become much bigger. Anna they are overproducing their opec target. Annmarie this c
Itsco prepares to make trading debut in riyadh. Reports say it is considering a secondary listing in asia. I want to get you to some breaking news out of new zealand. We have a fiscal update for you. They are cutting the Budget Surplus forecast. It now sees a budget deficit in 2019 and 2020. And smaller updates after that, specifically 943 million deficit. This is a previously forecast billion dollars. Returning to forecast the following years, but only just. Forecast was for 2. 1 billion. Growth of 2. 1 seeing a sharp wasward revision from what previously forecast as well. 2020 is an Election Year from new zealand, too. Just some headlines there. Thats get straight to the Market Action with Sophie Kamaruddin in hong kong. Sophie lets kick off with tokyo. Topix withand divergence. The end is Holding Steady. A bunch of event risk including the u. K. Election and the upcoming fed decision in hong kong with that tariffs deadline on sunday. A 10 year yield hovering around zero. Lets switch
Full. This model has been open for five hours. The line started at about 4 00 a. M. As the morning progresses, it is is certainly getting busier. The line started to get people into the mall. Giving out these free gift cards that drew the traffic. It is an outlet. 60 off off the entire store. You have to boys. I am sure they like sneakers. Look at this line for the nike store. The entire store 30 off. Because it is an outlet, you can walk out of here with sneakers as low as 20 bucks. A lot of action has in here today. It is black friday. This is what i will say. People are showing up. They are showing up for the experience. A lot of young kids, college students, gently. A College Reunion earlier in the day. Now there are a lot of families. As it gets later on, you will see more the baby boomers. Different generations making their way through. Brickandmortar is not dead, but online is really booming at the same time. If you have an experience like this one has, it will get crowded. I am
Oil prices are rising again after tensions in the gulf have escalated. Iran seized a british tanker in the straits of hormuz on friday, and libyas largest oilfield declared force majeure after interference by an Unidentified Group shut down production. 21 of all the worlds traded oil passes through the straits of hormuz. It is a Critical Energy chokepoint. This morning, theresa may will chair the uk governments Emergency Committee cobra to discuss the next steps and security of shipping in the persian gulf. Irans Oil Exports Fell to less than 300,000 barrels a day last month, according to reuters. That is a big drop from the 2. 5 Million Barrels per day in april last year, which is just before President Trump started reimposing sanctions as he pulled out of the nuclear deal. It removed about 2 of global supplies from the market. The benchmark brent crude has struggled to hold on the gains it made earlier this year, despite the 0pec Producers Group extending its production cuts. It peak