Tom keene in new york. At g7 will focus be china. Tom the president with those comments. What i find remarkable is how all of these leaders seem to be speaking to their homes, but it is not a g7 meeting but it is people talking to america, to canada, etc. Francine especially japan where you see shinzo abe trying to get out of the increase. Lets get straight to the bloomberg first word news. Nejra starting with the g7, angola merkel does not have much support when it comes to austerity. The debate over stimulus versus belttightening has shifted. Canadas new Prime Minister had shifted his countrys focus to Infrastructure Spending and cash. David cameron joins markel as a champion of fiscal restraint. Just a few minutes from now, president obama holds a News Conference at the summit. In france, strikes at Oil Refineries may spread today. Workers at six of eight refineries have walked out. The strike is protesting the president s proposed labor reforms that makes it easier to fire employee
Are hitting the highs today. Im talking about the usual suspects. The consumer packaged goods. Only a handful of the good leaders that can truly turn a pre selling respite, a relief rally into something that lasts like the big Cab Companies internationally. Only a handful are making highs. Thats a sign of the staying power being a week. Unless it goes to the sameold sameold. I know all rallies look like theyre created equal. Dynamic moves all over the place. The kind of rally today is the mirror image of the typical selloff. On day one everything goes up. By day two, we know it will bounce. This is the wait works. The first day in the selloff. We stop and catch some buys. Its just the same thing. Nothing has changed. Before we entity into expects, why does this matter . Who cares, isnt a rally a rally . Just like i told you last week. There are varying degrees of bad, very bad, real bad. There are varying degrees of good rallies. And this one, well, it was just good. Nothing more than
Welcome to the pulse. I am mark barton. Francine is at covering london city week. She will be hosting a panel on the economy with vito constantia. And Charles Evans. You can see that here live on bloomberg just after 10 00 a. M. Lets check in on the markets after two weeks of decline, stocks of open higher helped in part by the stronger oil price. Up by onelondon are third of 1 . The pound is lower against the dollar. Growth forecast will be published on thursday as with the latest u. K. InterestRate Decision. Is up by 0. 9 at 45. 78. Lets hit the latest bloomberg first word news. Is here. Ic crude prices are on the rise after wildfires in canada knocked out more than 1 million a day of production. The company iss Biggest Energy and have declared force majeure on supplies from the region. Thats a provision protecting companies from contracts a go unfulfilled for reasons beyond their control. German factory orders picked up in march a strong local trade helped upset a low end domestic d
Demand outlet. We begin with a bshb inbev agre to a deal. Johnson johnson has a mixed quarter. And twitter raising their guidance for the Third Quarter but making job cuts official as well. First up, anheuser busch, inbev and miller agreeing in personal on a deal in which ab would inquire sab for 104 million. That would have about onethird of the global beer market. Its the biggest deal ever in consumer staples. The fifth biggest mma transaction in history. Well see if if happt happens. It probably is going to happen at this point. A couple weeks we will have a definitive agreement what they call in the uk a rule 2. 7 filing. Simply giving us more details on the deal. For most peoples purposes, this deal is done. Lets consider is a done deal in terms of papering. Well see from here some of the more specifics. This then starts a process by which both companies certainly will need to go about divesting assets around the globe. One of the keys, as our viewers know, jim and i talked about
Negative and s p is back in the black for 2015. Show you what is happening in europe where you see european stock extending their december losses. European stocks are down 4. 5 for the month. Red arrows across the screen with germany down 1 . Germany is closed tomorrow for the you new year holiday. Treasuries selling off, yields sharply higher in light trading. Big story has been in the two year bond yield where weve seen the highest level since back in 2010. Crude oil under pressure, that is hurting stocks. Wti just back over 37 a barrel. Drench t brent actually trading high. We begin with amazon and google hitting alltime highs. Will the s p be able to close in the green for 2015 . Its another win for carl icahn. Bridge stone says it will not counter his off for pep boys. And apple will settle for failing to pay taxes between you 2008 and 2013. So stocks poised to open lower. Data from American Petroleum institute indicate supplies building in crude supply. Report due out in about 90