More volatility today. The s p did fall nearly 4 last week. Stocks are heading for the worst since december. I want you to look at the imf function area this is a look at the performance at the s p 10 sectors. We are seeing an acceleration of declines. Seven of we are seeing the 10 sectors in the negative surprising that energy is down 7 10 of 1 because of what is happening in the oil price. The biggest story of the day here. What are we seeing in the oil markets . Basically we did see oil fall below five dollars per barrel. Talkingpped positively, about volatility for a hot second, now it is trading down again. Row, butecond day in a off of its lows. The crude is at its lowest level since february 2009. Natural gas. Down 6 right now. We saw its lowest price since 2002. This is because those weather forecasts keep talking about warmer weather because of el nino happening in the pacific ocean. Is up sixr yield basis points. Equities push into positive territory. Sinces the biggest rise
Welcome. Lets get straight to some of the big market moves. First up, as we said to you in he headlines, jacob does a u turn and so does the rand. He appointed his second finance minister in four days. Bringing him back so what we saw was the rand jump almost 6. 5 . That is the biggest interday gain since october 2008 and his goes back to last week when fitch had downgraded the countrys debt, really having quite a dramatic impact in terms of the rand. Its about commodities and currency as we go into this fed week. This is west texas intermediate, sifpks to the lowest level in seven years, iran pledging more oil for the market. This is the performance over the past month. I can tell you 11 of this decline was implemented last week by the market. There is absolutely no chance that iran will decrease the plan in shipments. Traders, data, this is how we benchmark how negative the traders are there, the most bear issue ever. Ets get the bloomberg first trade. The latest data out of china ho
He was going to have to do something. Quite a uturn. A lot of internal politics going on within the asc. Lets did you uptodate with everything you need to know. Here is caroline hyde. Caroline the rbs achieve a of saying the restructuring of the bank is going well advanced. Returning to profit within four years. Hes coutu manus cranny and an exclusive interview. Quest the work in the work in the bank will be done by the end of this year. The restructuring of the front end will pretty much be done right end of this year. Which is a very, very good outcome. Caroline there has been a rant rebound after jacob zuma named his second finance minister in four days. The man who is the held the post between 2009 and 2014. Francis fars right frances far right failed to win any national assemblies. Hollande performed better than predicted. Back to you guys. Friday a guy shocker for global equities. What are we doing . A bit a little bit of a bounceback. A failed value calculation thats a fair valu
London. This is what we are talking about today and tomorrow, when the fed decision comes. How are the markets starting the week . Lets get straight to mark barton. Mark not as bad as they were on friday. Slidll country world index on friday, 1 trillion of value disappeared on friday. Its looking better today, look at the index. This is the msci, it has risen for the first day i ann nine. We had some better than forecast data from china over the weekend, industrial output retail sales, all beating forecast, signaling the worldss secondbiggest economy is stabilizing. Emergingmarket stocks are rebounding, crude is falling for a second consecutive day. In that period, as you can see, oil is down by 14 , iran pledging to boost crude exports despite the global glut. Speculators have increased bets on Falling Oil Prices to an alltime high after opec essentially scrapped production quotas. This is the big currency move of the day, just a oneday chart coming close. The rand has risen the most
We have our special programming on the backdrop. It really is a market looking for a bid. It wasnt a good day yesterday, but you really wonder where the markets will be when we hear the statement from the fed this afternoon. Francine it will be interesting to see whether they link the markets to the real economy, but first lets get to the first word news. Vonnie thank you. The leaders of an armed group in oregon have been arrested in a violent traffic stop. Among those now in custody, the leader ayman bundy. Amon bundy. They were stopped by fbi agents. Shooting broke out in one of the protesters was killed, another wounded. Irans president Hassan Rouhani goes to france after a twoday business trip to italy. He is expected to meet with Francois Hollande and sign a deal to buy more than 100 planes from airbus. Italy and the European Commission has agreed on a plan to help banks unload bad debt. Italy will work with european regulators, but some are concerned it could constitute illegal s