Obstacles facing oil and gas and why the lock downs are a big deal but may not change much longer term. It is friday, october 16, and this is Worldwide Exchange. If i have it right, i think that is the black key and the song is 10 00 a. M. But were playing it at 5 00 welcome from yfr wherever in th world you are watching stock futures right now are in the green but lets be carefully here, they are basically flat. Dow futures are up 9 points, so in the green, yes, nasdaq up 22, but got a long i way to go the big money question on this bring is whether today will mark a rare four day losing streak for the nasdaq were down previous three sessions, although amazingly were still higher on the week outside of stocks, the big winner this week has been bitcoin. Thats right, up 4. 5 . Climbed earlier back above 11,500 bitcoin has been the winning asset class coming into a friday lets go around the world and it is looking like a nice session in europe as well. Lets ghets t get the trade, geoff c
A half percent. Another thing i am watching as the rnc tax policy. Toer this hour, we are going look at taxes and how they play into wealth inequality. We are going to do that with Dorothy Brown november university. First, economic data. Confidence, 84. 8, the market was looking for 93. Ist is a week number that a weak number. This tell us something about the stimulus debate, the employment market in terms of the present situation. That has weakened significantly from the 94. 2. The expectation number has weakened as well from 91. 5. We have an 85. 2 this time around. Newhome sales continuing to drive onward. The Housing Market showing no respite. Look at the lumber prices. Sales, 901,000. That is a 13. 9 permit very strong number. Consumer may be starting to show signs of weakness and concern. Lets talk about the market today. We have already indicated what we are seeing is stocks, global stocks continuing to push on very strongly. What is the excuse . U. S. Chinese officials holding
Deaths near 700,000. Virgin australia rescuers are set to outline the Airlines Financial plan. We are seeing u. S. Futures opening flat. U. S. Stocks finished higher in the new york session. They fluctuate between gains and losses. Thestors are assessing prospect of another stimulus measure. Says they try to come up with a timeline on the deal. We expect to hear from President Trump at a press conference anytime now. The s p 500 was way down by financials but Energy Companies led the advance. Oil is losing at the moment. Heading toward 41 per barrel. This after we saw the biggest gain in two weeks. Lets look at the asian markets. Asian stocks are looking at a modest drop potentially ahead of the session. Toyota and honda are reporting today. The yen is holding below 106. China officials are reportedly set to meet around august 15. Barda futures heading higher. When it comes to commodity currency, we saw a lift up there given the rise in oil and metals. Cracked 2000 for the first time e
And Andrew Ross Sorkin well start with the markets this morning as the nasdaq logged another record high nasdaq now on an eightday win streak the longest since december last year watching u. S. Equity futures today. There is a pull back the dow is indicated down 265 appointments s p off by 28 and nasdaq down by 50 the nasdaq has seen its best quarter since 1999 and the dow the best since 1987. Check out the s p, for this quarter, s p is up for its best returns it has seen since 1975 looking at the treasury yields this morning youll see the 10year note yielding 0. 7005. That is kind of our comfort zone pretty comfortable if you need to borrow money for sure. The u. S. Is weighing some new tariffs on experts in this case from france, germany, spain and uk related to the 15year old wto fight over aircraft subsidies. Saying the eu is guilty of unfair subsidies to airbus the u. S. Has been accused of unfair subsidies to boeing, negotiations have been at a stalemate. Andrew thank you, joe in
Or delayed their plan phase reopening. In texas reversing that saying it must force bars to close today and only remain open for takeout and delivery, that saying that restaurants with indoor capacity right now, lets cut it down from 75 they have been getting used to but the last couple of weeks to 50 and anything to do with rafting and tubing, that stops immediately. So those actions, reversing earlier actions, the first time we have seen it got the markets attention and the fear that other states that have seen a similar uptick in cases with the real test availability and we might do the same. We have gotten hints out of florida that maybe that could be the off thing but that is way too soon to tell. Again, the drill on wall street, you sell first and begin to ask questions and get clarification later. We are also waiting to hear from the president s Coronavirus Task force, we have not seen them in a public setting like this in almost two months, theyre gonna be speaking again were t