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Radar headwind weighing on the banks. Were going to talk about that. Both sides of that issue coming up. Plus, unfortunately in venezuela latting continues as they grapple with Food Shortages and an economy that is definitely in crisis and the president is in exile here in the u. S. The director taking a direct swipe at jack dorsey. Well tell you exactly what he said. Lets start with the comeback in stocks today. Bob pisani with the latest. Bob . Its been an interesting day. To a certain extent were become smacked around by brexit concerns and particularly on the currency markets. Take a look at what happened just about the time of the european close at 11 30. The dollar weakened. The euro strengthened as well. It happened when we heard about the tragic death of the mp over there, joe cox. We saw knockons as a result of that. We saw a modest lift during that time and weve just turned positive for the day. The dollar weakness had a very important effect. It stabilized oil. Oil had an ug
New-yorkUnited-statesJapanFallujahAl-anbarIraqShanghaiChinaDelaware-countyPhiladelphiaPennsylvaniaWashingtonVote. Se we are basically seeing this global flight to safety. Look at the japanese yen surging to a twoyear high against the u. S. Dollar. Brexit worries, rising pressure on the bank of japan to respond with a bigger stimulus package in july. The british pound continues to hover around a sevenyear low, coming off the lows. The bank of england warning of further weakness. A pick up in risk aversion helping gold shine, up 23 year to date. And pushing bond yields lower, not just in europe but here at home. The u. S. Tenyear dropping to a fouryear low. The fed statement also part of this story. In terms of stocks, its the european banks that remain under pressure. Active discussion on which banks would be hit the hardest, especially when you consider relocation costs. Shares of deutsche bank. An alltime low. Hsbc among others down about 18 over the past three months. If youre looking for price reaction in the equity market, its those european banks. I think well see more of it as we head
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