The stories that set your agenda. 100 dollars a barrel march continues as the u. S. Oil benchmark its a oneyear height with stockpiles and hitting one year at levels and fears around and inflation uptick are growing. Especially in asia where stocks are under pressure. On the docket german and spanish inflation data, one more puzzle piece on what the ecbs move might be on when traders bet on a rate cut next july. Plus italy plans to bring its budget deficit below the limit set by the eu but only in 2020 six. The delay risks a confrontation with brussels. A lot of a cross currency air. A lot of different market pressures lets get a quick check on the market futures because like i said you are seeing a pullback in those asian equities. A lot of pain in the nikkei and the hang seng. We will get to that in a moment but futures indicating that that is not a global story just yet. The underperformer of the board will be euro stocks, 50 futures really unchanged. I would not call this a big mov
This year for the u. S. Benchmark , the oil rally in the treasury selloff taking a breather. Paul white house staff told to brace for the furloughs as a Government Shutdown looms with a lastminute deal unlikely. Shery plus evergrande is saying their chairman is suspected of crimes as it enters a new phase. U. S. Futures coming online after stocks rebounding in the new york session and we are seeing those extensions with the gains of up to 1 10 of 1 in the s p 500 so close to that oversold territory. The 14day rsi around 35 and stocks getting a boost from the uaw report that it was set to dial back the pay hikes they were requesting from the carmakers. Still, treasuries, the selloff today, the 10year below 4. 6 and data showing Consumer Spending rose at the weakest pace in a year or less quarter and we had some comments from fed officials that were perceived as a little bit more dovish, so we have the dollar falling for the first time in seven sessions. Take a look accrued, wti above 91
Its on spotify right now. We aim to please. It seems like we have done this morning. Lets get into the market picture. A very rosie market picture this morning. Futures were as much as 200 points higher moments ago just shy at the moment on the dow 192. 4 to be precise. The s p higher by 14 the nasdaq up 22 markets did pull back on friday albeit only slightly closing down. 2 and the s p a little bit more that for the nasdaq for a week performance was fairly divergent. The dow was up 3 . Dow up 1. 5 the tax reform bill well discuss that passed the market late friday night. Ten year treasury note has responded as well in a risk on fashion somewhat weve seen the yield move up a little bit, 2. 39 closing on friday at 2. 36 over the weekend ticked up a bit. Crossed 2. 4 but is just below that level. More on the markets, but first to our top corporate story, cvs is buying aetna for 69 billion. Our Bertha Coombs is joining us on the cnbc news line with all of the news. Good morning, bertha. R
We are seeing once again some interesting divergence within the market. The dow climbed to another record and rise for the six of the past seven sessions gaining more than 1 , the s p is on his heels, almost a quarter of a percent. The lag once again is the nasdaq. Only up one third of 1 . A strategist of bloomberg estimates talk about paying attention to that nasdaq underperformance might mean that some of the rumbles we got last week in the rotation out of Technology Going into year end, that movement might not be over. Something to continue to watch their. Also, we are talking about the big deals this morning that we have been talking about scioscia for several weeks. Now it is official. Cvs agreed to buy aetna. That isading well below analyst are asking questions about antitrust approval. Particularly after the Justice Department sued to block at ts purchase of time warner. Orther instant implication more of what this is a reflection of is working broadly and health care. Take a lo
Execute by, sell, and swap strategies. And check out what is coming down the pie. For twodoes it mean massive giants to have some which money . More and more market share in the hedge industry. Because they are number one in the industry, it is hard to find growth. All straight ahead on bloomberg best. Mike welcome. I am michael mckee. This is bloomberg best. High hopesgan with for brexit breakthrough, hoping that the u. K. Antie. U. Head made some headway. The dream was quickly dashed on monday. The expected breakthrough failing to materialize. Commissionn president john paul juncker. despite our best efforts and significant wereess, we and our teams not able to reach complete agreement today. This lunch started around 1 30 brussels time. Point,rstood that it one theresa may actually broke away from the lunch to call the leader of the Democratic Union that props up her government in london. Washis point in time, it mostly the issue of the irish border. That sort of put in end to any p