Im wilfred frost live from london this morning. Lets get straight to the Global Market picture futures are pointing lower off the back of some declines elsewhere in the world we are down around 100 points or so on the dow. Improving a bit. Down about 80 points the s p down 5 points. The nasdaq down about 30 points. A big intraday turnaround yesterday. A 450 point swing on the dow initially markets liked the fed minutes and then they decided to focus on the word further being added to the line of further policying tighteni inin ining ly as we come in to today, down 1 for the week as a whole for the dow and s p. All 11 sectors were lower yesterday and a lower week to date as well down 78 points on the dow as we look at things tenyear treasury note yields rose across the board yesterday in responses to the fed minutes. The tenyear yield hitting a fouryear high the high for the tenyear yesterday was 2. 957. Right now 2. 923 on the tenyear. Asia is fully open china bouncing higher after hav
We have somebody here who can give us icnsight into all of tha dow futures look to be down 35 points part of what happened in the market was because of tenyear yields topping 2. 96 right now the tenyear is at 2. 926 the 2year at 2. 2 26 . In asia, the nikkei off by 1 . Shanghai is up about 2 . In europe, the early trading there, the stock markets there are mostly in the red. Dax is off by 0. 8 ftse is down by almost 1 . Barclays shares are up sharply despite the uk Bank Reporting a big drop in 2017 profits. Barclays says it lost 2 2. 7 billion once again why would that happen . Yep. They its accounting for the u. S. Tax overhaul. But also a weaker dollar there were some bright spots Barclays Says its pretax profits rose 10 customer deposits were up and its doubling its didividend. Jeff staley says he is optimistic about the future. There are a number of tailwinds. During the next year and half we will be retiring a lot of debt Interest Rates are in a much better position than they were
Im wilfred frost. Im seema mody. Yesterday apple reported an earnings beat but offered weak guidance amazon topping expectations as the Company Reported its biggest profit in history. And alphabet missing on the bottom line. Well dig into those results straight ahead its been moving things after market amazon up 5. 7 though it closed down 3 yesterday. Netnet, 2 gain apple up 2 . Lets look at how futures are pointing to. Currently a lower open dow off by 220 points. Nasdaq off by 41 points. And the s p lower by 20 points the dow and the s p are on pace for the worst week since 2016. Nasdaq on track for its worst week since june of 2017. Lets look at yields thats why stocks had been moving lower the yield on the tenyear, 2. 79 , approaching 2. 8 , a fouryear high we crossed 2. 8 overnight those higher yields hurting sentiment over the last week or so asian equities for you, down around 2 for the week as a whole. Today is not too bad the nikkei down 0. 9 but a bit of strength in shanghai
Down oil and gas production. Haidi hello from sydney. This is daybreak australia. We are talking about the first major market open. Betty i am betty lou. This weekend has been quite eventful. Just what happened over the weekend with Hurricane Harvey, hurricane category four slamming into texas. The fiercest storm and 50 years. The worst hurricane since 2004. A quarter of the production now expectation is it will not hit the whole of the u. S. Economy but certainly texas itself. Lets get a quick reminder before all of that happened how stocks traded on friday. Watching with bated breath what janet yellen was going to say, she was on message friday. That meant the market did not trade that much, not a lot of volatility as we saw by the end of fridays trade, the dow up 30 points. The s p up 0. 1 . The nasdaq trading unchanged. We have a lot had this week including jobs data in the u. S. , likely to dominate the chitter chatter in the market ahead of the data on friday. That is a mixed ope
North korean tensions dominating sentiment. Investors not prepared to take risks. Has andling us what going on for a couple of decades. Military spending, the chart showing south korea in red, the in japan. Jeff an fallen, it is double that of japan as a percentage of gdp. Japan gdp is Something Like 3. 5 korea, soer that of absolute spending way ahead. 3. 3 percent of gdp spent in the United States, a budget of 500 billion to 600 billion in year. Haidi putting that into perspective. That data point is top of mind as we have President Trump saying they are willing to sell more weapons to south korea and japan to prepare for any kind of potential military conflict in the region. No consensus on how to deal with a threat from the north with Vladimir Putin saying he is against further sanctions against north korea. We are 30 minutes away from the open in china and hong kong. Southeast asian markets, singapore, malaysia, taiwan coming online. To the. Markets reaction nuclear test was not a