Tourism groups fullyear core Earnings Growth gives the shares a boost in early trade. The gamble doesnt pay off for uk betting firms as the stocks sell off on a report that mps will demand stricter controls over certain betting machines. Good morning, everybody. Welcome. Were being told today is the most important day of all time for the ecb. Its always the most important day. Exactly. European equity markets gearing up for the most important ecb meeting with a slightly higher attitude. Up by a quarter percentage point on stoxx 600. Asia gaining overnight. A wall street rally. Europe higher for the fourth straight day in a row. Looking at the main European Equity markets with the main europe europeans trading in positive territory. Somewhere in the region of a half percent or so. The sectors, just briefly showing you whats going on. Media, autos and telecoms trading higher. Oil and gas, insurance, healthcare all a bit lower. People are talking about theres some doubts about the outputs
We are not seeing Much Movement in stocks today. It is a mixed picture with the nasdaq trading slightly lower even as the other major averages are on the rise. To find outiting the results of the u. K. Vote tomorrow, which we will be reacting to on friday. We have financials in terms of the most heavily weighted groups. Materials and on the bottom energy and utility shares pulling back. Hp andto point out fedex. Profitame out with a that was in line with analyst projections. Also fourthquarter earnings beat estimates. But analysts appeared to be concerned about the company not offering much clarity on its acquisition of tnt and what thats going to contribute to the business. Hp raising its forecast for the full year. It is also divesting some assets. Its going to use the proceeds to reduce buildup inventory in the printing business. Optimism among analysts that it will improve. That may be what is weighing on the shares today. We are seeing the dollar decline. 5 going into the brexit v
Retail sector is still under pressure. Pandora shares on the rise after activist Investment Firm calling for pandora to consider a sale. Stocks poised to open lower following mondays rally. Futures up 0. 4 as gasoline, medical care and food prices up. April Housing Starts up 6. 6. Well above expectations on a 3. 7 gain. Economy doesnt look too bad this morning, jim. No. A lot of that increase in cpi is gasoline has come up. Thats something that the market likes, which is the craziness of this market. Remember we go to 48 for oil yesterday, and we have an explosion. All the stocks of the companies that do poorly when oil goes higher, but thats all right because oil is meant to be a barometer. We keep telling ourselves that. At a certain point its not a barometer. At a certain point its back to the inflation rate. But at the same time i dont see a lot of strength. I just see a lot of no volume, algorithmic moves in the stock market. Yesterday was one of the worst examples of it because t
Ford. You got to try to figure out i know david is completely driven by this idea of the driverless car. Well, were going to be in one, but we wont be driving. Jim, were going to get a lot with you in a few moments. In the meantime stocks are up three or four sessions, but a lot of bets may be held today as we await the brexit vote tomorrow. Europe relatively steady, a lot of earnings to get to and by the way oil did reclaim 50. Road map begins with the countdown to brexit. Were live in london with the latest on which way it could go and how Global Markets are reacting. Teslas offering to buy solar city, the price tag about 2. 8 billion. Were going to get elon musks take on whats really behind this offer. And shares of fed ex sinking after earnings. Well break down the numbers you need to know. But first up ahead of tomorrows uk referendum on eu membership, a number of polls have the outcome as too close to call. Wall street will also focus on day two of fed chair yellens capitol hill
Wagging. Wagging. Kit juckes will join us in a moment. Jonathan looking at the msci world index global stocks, and august 2015 hi. 600 aope, the stoxx january 2016 high up one quarter of 1 . The story in the fx market is a little bit of dollar softness. We come in 2 10 of 1 . The cable rate pushes up to one point at 133. A fifth straight day of gains. The discussion for this program in the next 10 minutes, are the bears in the u. K. Starting to capitulate . In the bond market, the bulls are not capitulating. Crude gets back to work with a little bit of rally and russia joins the output. In the bond market, the story of last week, the long end of the jgb curve, the worst week for 30 year japanese Government Bonds, yields coming in three basis points from the session. The focus is whether the boj and governor kuroda allow the yield curve to steepen and hopefully assist the banks to make a little bit of money. David they have been waiting for that in japan and it has been tough. Lets chec