Whenever the price of crude falls to the low 40s as it did last week, the Big Petroleum producing Companies Like saudi arabia, venezuela, iran, russia, routinely try to manipulate it back upward, and they always succeed by claiming there might be a freeze or a cutback in production. Oil then spikes to the mid40s on those rumors, taking the stock market up with it. Then we learn that these petro states probably cant come to any kind of agreement like we did today exactly when the saudis said expect nothing to come of next weeks wednesdays opec meeting. And oil gives up the ghost, dragging the stock market lower. Again, exactly what played out. Once again, if it gets low enough, the rumors will start, and well rinse and repeat. This is now the sixth time weve been through this oil charade in 2016, so shame on anyone who perpetuated it. Shame on you. At least now youve been warned. With that in mind, lets go to next weeks game plan because its chock full of earnings that will likely impac
It seems it is always angst fighting the central bank. Tom we will bring everybody up to date on the shock and all of that negative Interest Rate call by the bank of japan, but you are right, it pulls right on to china and you see it within the market activity. Francine lets get straight to the bloomberg first word news. Vonnie after months of campaigning, the first votes are cast today and the race for the white house. A weekend poll shows donald trump with a fivepoint lead over ted cruz among republican voters. They question whether Trump Supporters will actually show up tonight. Hillary clinton has a slight lead over Bernie Sanders. Sanders is coding counting on young voters. Civil war in syria began in geneva today. This after eight triple bombing killed 45 people. Supporters of Bashar Alassad have threatened to boycott the talks. In northeastern nigeria, at least 86 people were killed by boko her wrong. They targeted a camp for displaced persons. Boko haram has killed thousands of
Too slowly. It is an issue in japan, too. The yield on the japanese fiveyear bond has now fallen to 0 , matching germany. A sign the labor market is tightening up. Aetna is raising debatesemploys by as much as 16 an hour. The Insurance Company will cover marker health care costs. The Unemployment Rate has fallen to 5. 6 , making it tougher for employers to retain workers. The Obama Administration admits we blew it. The white house says it was a mistake not to send a highlevel representative to the march sunday in paris. Leaders from u. K. , germany, and israel were among those attending the rally for the victims of the terror attack. The highestranking u. S. Official there was the ambassador to france. Charlie hebdo will print 3 million copies of a special issue this week. The magazine will come out tomorrow, a week after the attack that left 12 people dead. What a debate this morning. The New York Times and bloomberg not doing it, but others are doing it. It is interesting, they put i
Mario draghi said the bank may increase his stimulus. He says theyre still a risk of deflation in the euro area. That sent italian and spanish bond yields falling. Now at a record low. One of the most eloquent speakers of his time, at democrat made the case for the parties liberal wing. Former new york governor mario cuomo died yesterday, he was 82. He served as three terms as governor. His speech propelled him into the national spotlight. He was considered elected president ial candidate in 1988 and again in 1992. Each time, he refused to run. He bowed out as a plane was waiting to take them to New Hampshire into the primary in 1992. He died of Heart Failure just hours after his son andrew was warning for a second time as governor. Search teams still having our time fighting wreckage from the airasia jet. They will use sonar and ping or locators as a look for the flight recorders. So far, 16 bodies have been recovered. There are 10 foot waves and winds up to 40 knots and the search ar
Record crowds march throughout france. They were joined by leaders of the u. K. , germany, israel, and the palestinian authority. Francois hollande told his cabinet that paris is the capital of the world today. France is still hunting for more accomplices in the terror attacks. The wife of the gunman in the Kosher Grocery store attack is believed to be in syria. It may be the only thing that could unravel the mystery about the airasia plane that crashed. Divers have uncovered a key piece of evidence. It may tell what happened in the final moments before the plane crashed two weeks ago. The black box is composed of two hearts the flight data recorder and the cockpit voice recorder. Parts, the flight data recorder and the cockpit voice recorder. We found the flight data recorder. The wreckage is 105 feet below the surface of the java sea. The crash killed all people on board. Oil prices took another dive today. Goldman sachs said oil prices need to trade near 40 per barrel to curb invest