And now were seeing the reality of that. The meeting is april 17th. So youre going to have continue positive momentum build into that. The Investment Community is underinvested in terms of Energy Equities. Think about what the mentality was in january and february and the actual trade we align with so we have many that own the high yield debt in the energy space and used Energy Equities as insurance and they were natural sellers of that. They have been buying back all along since february and march. Josh xle today is up nearly 3 as we look at it and you own it. And this is the anatomy of a bottom fishing trade that works. We continually on this show look at the stocks acting better than the commodity itself. The stocks bottom january 20th and crude oil doesnt bottom until 2 or 3 weeks later in february. Now you have it 50 off the lows. Thats the producers etf. You have the xle of 30 off its lows. Taking out its 200 Day Moving Average to the upside since september 2014. This is a monste
Tell you about outside the world of business. At least 8 people are dead and five more believed missing after severe flooding yesterday near the utah arizona border. Heavy rain swept away a roadway and these are floods that came up very suddenly. Three people at least have survived the incident. There are at least approximate 13 fires burning right now. Hundreds of homes destroyed. Well have more on both of these developing stories a bit later this morning. First andrew has todays business headlines. Lets get you caught up on the stories this hour. The bank of japan is holding off on expanding its Stimulus Program but warning that a slow down was putting further strains on the economy. Some economists say the boj could ease again next month. Well watch that. Take a look at whats going on with the nikkei closing today marginally up about. 34 . Also we have stocks closing down more than 3. 5 and at a 2. 5 week low, the Global Markets all waiting to hear from the fed on thursday. Thats th
Points. Here are the big stories were watching today. Weyerhaeuser is buying plumb creek timber for 8. 4 billion in the total price tag. The combined company will keep the weyerhaeuser name and manage 13 million acres of timberland. You can see plumb creek timber up 17 in the premarket. The dubai air show is now open for business. The last show two years ago saw record breaking orders. Thats not the case this time. No major purchases yet announced. Some say this is raising the red flag about the longer term health of the business. And in other global news, lufthansa canceling more than 900 flights today due to a cabin crew strike. A union calling for a walkout in frankfurt, munich, dusseldorf. 900 flights canceled. We talked about it on friday, i dont remember a lot about it. I remember i had to say dusseldorf. I remember seeing that in the teleprompter and nailed it. Nailed it. So theres a five star hotel there. There might be but i wasnt there on vacation. You were you were not there
Financial trading revenue saw a drop of 15 . Hear what the companys ceo has to say about the results with shares down almost 6 on the session today. Many of its competitors are not down today. All right. We have a brain drain at yahoo evan has been talking about, two more people, high level people, have left the technology giant. We will discuss the impact of yahoos executive exodus coming up. And ibm set to report right after the bell. The companys cfo will join us live before the Conference Call for an exclusive interview, shares down about 1 ahead of that report. Lets start with chinas economy, that has september Oil Prices Lower today, dominic chu has the story for us. So, bill, kelly, we understand right now that the china slow down effect has been anticipated for quite some time. You could argue perhaps priced into the market but still we finally got confirmation of some of the worst levels of Economic Activity that we have seen since the Global Financial crisis back in 2008, 200
Ramy inocencio has the latest. Actually, the housing data is tomorrow. Ramy we will have that tomorrow when it comes out. Lets get to the markets. U. S. Markets, as you can see across the board, are up by. 6 for all the markets. Turning around from fridays route. Twoday drop in the s p in a few months. That may show you what is happening in the s p today. No sectors are doing that at all right now. Telecommunications is the biggest sector up. 8 , financials, industrials also up about the same order. Lets also go to oil. Nymex crude is seeing a turnaround, its fourth day of losses in a row. Handle, down4 1. 6 . This is on the news that we expect the look to continue in 2016. As for brent, and the Global Benchmark, that is falling to an 11year low. Crude right now down at the 36 handle. A lot of the commodities have come down but there is one energyrelated commodity that is actually up. Ramy natural gas. Over the past several days, month, we have seen a drop in net. Rising today, for the