And, macron reshuffles his government. The European Commission releases its growth forecast today. Manus it is just gone 6 00 a. M. In london, 9 00 a. M. In dubai. Are kneedeep we in phase one. We are kneedeep in a global rally, that is for sure. Half 1 trillion off the Chinese Market yesterday morning. If you have had a 40 leg up in the equity market, what is it that you want to do . Ont chase the rally, they say nejra it is interesting because yesterday, you wonder how much of the rally in Global Equities that you pointed to was actually driven by what happened in china particularly. Of 2015. He bubble you talked about how much was put on in terms of market value. Then you see the nasdaq hit a record. S p 500, five days of gains. As you say, not much really driving that rally. We will get into it with simon allard at the moment. He talks about, is tech in a bubble . Return, a total bubble within a bubble within a bubble, within a bubble. Keep going. Us a people keep telling bubble is
Good wednesday morning. Welcome to squawk alley. Our john ford sought side trump you toer in manhattan as the president elect meets with those tech ceos. It does bring us to our top story, donald trump hosting top executives from Silicon Valley including tim cook, cheryl sanldzberg and elan musk. What is the latest . Carl, the ceo of oracle just showed up about 10, 15 minutes ago. You might note it is quite a bit ahead of when we expect that actual meeting to be this afternoon. So interesting that shes coming early. Im trying to get some insight into what she might be doing here at this time of the morning. But its a meeting that is remarkable for the heavy weights of tech who are showing up. We mentioned jeff baez yoez, tim cook, larry page, Cheryl Sandberg from across the whole spectrum of consumer tech, social, Enterprise Technology just a power house, of course, hundreds of billions, trillions worth of market cap represented here. So well see what comes out of this meeting. Theyre
Group says no decision has been made. This as toshiba slumps again. A very warm welcome to bloomberg daybreak europe. , our flagship morning show. Overd morning to you yusuf in dubai yusuf , to you, yusuf. We have to talk about the alltime record high for wednesday. I have the chart here for you, 16 higher than it was the day after the brexit vote. Mining stocks, one of the big drivers of the search. Story a big part of the and thats why got on this chart, the ftse 100 and white and expressed in dollars in the light blue and in euros in purple. You can see its not quite such an impressive performance when you translated into other currencies. Yusuf you are speaking of currencies that are taking a little bit of a breather, but its been an interesting run. 23 out of 26 trading sessions of gains for the greenback. That weighing in at the moment on the dollar in crosshairs as well. If you look at what is happening in terms of expectations for 2017, citigroup is saying the rally is going to
Most in six weeks. Investors dont have much to be optimistic about. The fall has halted the longest winning streak in eight months. The hang seng index also down. 1. 3n continues down percent. We are seeing a stronger yen hitting exporters. New zealand gaining. 1 ahead of a decision tomorrow on the benchmark interest rate. They are expected to hold steady at two point 5 . The asx 200 gaining. 3 . Asian stocks are mostly rich led by mostly retreating, led by mining stocks. Mining stocks in asia falling across the board after chinese exports fell the most since 2009. And of course, Energy Producers are also feeling the squeeze today as oil retreats for the second consecutive day. Crude now at 36 a barrel. , rishaad breaking news. Donald trump has won the michigan primary, earning 40 delegates there. 50 of votes have been cast. With ted cruzins second. Marco rubio follows on from that. Ine bad news for marco rubio his challenge to becoming the forblican nominee president. Earlier on we he
Themselveses. They make themselves better in a way thats unseen to everyone until later when the improvement becomes ef dent. Look at this market. Especially in this speculative stock. S p rose. 09 . Holy cow. Pointing to key concepts. First there is a tremendous amount of shorts. Its a Short Covering rally with the appearance of fraud for certain. I want to dig deeper for tonight. For months on end, stocks in the commodity Mineral Resource have been on the decline. When we consider the case of mro, marathon oil. In the heyday of the oil blow off the run to the top in 2014, marathon traded at 41. Oh, geez. Back then marathon seemed to be a logical takeover target and a fantastic fount of oil. The company had a huge amount of money to be one of the largest independent Oil Producers out there. Big eye with as. They put up spectacular numbers. Earnings peaking at 4. 48 a share in 2014. In 2015 they lost an astounding 3. 26 per share. Wow. Just like that. All the debt turned the stock from