Borenstein. Amanda lets check in with our Bloomberg Team for indepth coverage. Miller in berlin as german low, andp to a record andr current enda curran simin demokan. David we begin in london. Mario draghi and company have begun buying Corporate Bonds. Lets bring in guy johnson. What do we know if anything about which bonds they are buying . Guy they are looking for the most liquid bonds. This is a new phase for mario draghi and the ecb. It is looking to step up its program, boost its Balance Sheet, trying to get money in different areas of the economy. It is buying the most liquid names in the corporate sector there, anheuserbusch. They have been buying spanish telephone companies. Liquidig names with big pools of Corporate Credit that they are stepping into. The Bond Buying Program has been rippling into other assets so you see it affecting the equity market. Affect also. Year buy aroundoking to 5 billion each month, and we will find out where. That the market has been front running
Where julie hyman have the latest. U. S. Markets just keep going up and are very resilient, as we as we have frequent talked about. Trading higher, where we are right now that is the record so we are indeed closing in on that record level. A little further from their record closes but nonetheless moving higher today. Look at the s p 500. Since last may, that is the decline we are seeing. We will be seeing the s p can make up the gap. And reach a new record in the coming days. Once again, a commodity led rally, a broad rally. Tech are the Top Performing groups here. Oil inventories coming up in about 30 minutes. Last night, the epr reported there is a drawdown of about 3. 5 million barrels. We will see of the government numbers match that. The dollar decline in copper futures are coming back after yesterday passes losses. Economic data has been supporting. Percentage movers, companies that make this stuff, that produce the various commodities. Chesapeake energy up by almost 10 . And an
The energy is up over the last month or three months, and that is why we are here, right . It is a big portion of why we are here, and of course, a lot of folks have mischaracterized how much the American Public would save if you have basically took a look at the gasoline, judge, and figured that you would average family consumes 600 gallons through the vehicles and so forth through the year, and gasoline prices are up a dollar from the lows, and in m some parts of the country, they are, and that is 600 in additional what would have are been savings in the year earlier in january and now the savings is it still goes up, and you buy the stocks . No, they are topping out here, and many of the oil e p plays are topping out. One of them that i added to the portfolio that i will talk about la later that has legs, but e ps is topped out. And who is on the other side . Energy itself . Yes. Nt i dont believe we are topped out for energy itself, but what has happened in the beginning is that Mo
Jpmorgan shareholder, its the fine print. What concessions, what did jpmorgan concede it did wrong, and if it did concede it did something very bad agreed to fraud that it was culpable this some way, that the bank itself not just Washington Mutual which it inherited, not just bear stearns which is part of this deal, but jpmorgan itself which sold a lot of bad mortgages, if it did say i did something really bad, this is going to be a hit to shareholders, and i dont think theyre taking this into account right now if we look at a stock chart, shares of jpmorgan were up marginally. But long term is what you have to look for here, its whether they really did concede they did something wrong in this settlement, and that language is not out. Now, is this a done deal . Yes, it is. Eric schneiderman, the attorney general, just front ran the department of justice. Why does he have the authority to do it . Hes head of president obamas Mortgage Task force designed to hold banks accountable for mor