Look at oil prices. It has been one of the keys to working out what is happening in the markets at the moment. The oil route continues. I have a wti chart here. In the far righthand corner, we see 34. 59. Arab opeca meeting of members in cairo over the weekend. The Iraqi Oil Minister talking about how we do not need to be pessimistic about oil prices. A similar message coming from the qataris. Spain faces unchartered Political Uncertainty this morning after the Prime Minister lost his majority in an inconclusive election. Thety lost a third uncertainty may see spanish bonds open lower today. Brent crude fell to its lowest level since july 2000 or amid the speculation that supplies pricesacerbate a global are down 37 this year. Iraqs oil minister says oil well bounceback because the current price is hurting reducers. He did not say when that would happen but insisted that market fundamentals are strong. Toshiba slumped the most in seven months. The comments came after the nikkei said to
We need to get the currency moves. The rand is weaker, the pound is weaker. At of eurozone, this is not too bad. Economic confidence is rising. In the markets have changed the last 48travelers with tight correlation being the major theme. What i would suggest, francine, this morning is the tale is there is no dollar strength. The tell taleg, is there is no dollar strength. First, lets get to the bloomberg first work news. Thank you. Thats get going with the chinese stock market with the worst start in two decades and no sign it is getting better. They cut the reference rates for an for the worst since august, leading to a market shutdown 30 minutes into the session. The first four trading days of the year it is down 12 . The u. S. Is pulling for new sanctions for north korea, hours s governmentgun tested a hydrogen bomb. They want to put pressure on north korea by imposing a tough package of sanctions. Looking to play peacemaker between saudi arabia and iran. Saudi arabias foreign mini
Ont as far as what is going in china, every day, around 2 00 p. M. , chinese time, markets recover because state money comes in to buy stocks. Will be closed on the mainland, and tomorrow they will be closed for the military parades and victory celebrations for world war ii. Here spurredsses by the chinese erik s p 500 ended in correction, more than 10 down from its recent high on july 20. Matt the big losers in percentage terms netflix was down on concern apple is going to meet its lunch with original content. Dollar tree was down because it is trying to absorb family dollar. Erik the guidance with disappointing. And there was no revenue guidance because they have to deal with the purchase of family dollar. The point mac moran makes copper. Copper was down, and i think it that said competitors are not going to stop. There were some winners that were interesting. Cablevision erik i will hold you right there because matt American Airlines . Erik no, marc faber is going to be with us. He
More than 3 today and crashed through the 50 per barrel mark and has been trading under 49. European stock markets are mixed a day after the selloff in asian markets were lower at the close and equity futures are on the rebound. In europe, the economy has hit another speed bump. Growth slowed in the Fourth Quarter which bolsters of those in the European Central bank and they say they should add more stimulus. There is where that verizon has approached aol to some combination. The two companies have had discussions about a potential acquisition or joint venture. Meanwhile, dish network has come out with a plan for viewers who do not want to pay all that money to cable tv channels and their cable providers. 20 per month, they are offering plain tv with a dozen channels to be streamed on the internet and among them is espn cnn, and tnt. The ceo of sony has made his first Public Comment on the cyber attack. He spoke at the Consumer Electronics show in las vegas. They were, the victim of on
No funk for the consumer. Targeted at 6 billion, snap chat with 0 billion in revenue, raising a new height this morning. Facebooks first downgrade since march of this year, and the growth will slow in 2015. For the first time, the targets open with the s p above 2,000 coming off the 30th record close of the year and dow hit new intraday highs in tuesday session, and nasdaq at a fresh 14 and a half year high, up 4. 5 . Interesting action so far. We have a cease fire in gaza, meeting how the geopolitical story reversed and markets like that. Lack of news is good news for the market. The bullish momentum continues. Milestone after milestone, but momentum is a keyword to talk about and whether it continues the 30th record close for stocks . The action is in the currency market. Overnight, the year row hit the lowest level in a year, ramped up hopes, right, simon, for more action and weak Economic Data fuelling the fire. I think one. Most interesting barometers this morning is the major rig