Warns of huge consolidation. Opec dissents on the in a. Crude dissents under 50. Is saudi arabias oil minister calling the shots . A warm welcome to the program. Lets have a look on what is happening at the futures. We are not getting an incredibly strong picture from the futures this morning, i have to say. Weve got euro stocks up just a fraction at the start of the are p and trading day. The ftse 100, perhaps its a little bit on the back foot. Of getting a great deal momentum perhaps coming through from the asian session. We still have some big agenda items on the radar with the ecb meeting and the jobs report, plenty still to digest. Matt take a look at the nikkei, down 1. 6 . Take a look at the yen strength that we are seeing, 109. 95, how many yen you get for your u. S. Dollar. The aussie dollar on the other strength,owing some not the kind of strength we saw earlier in the session. We saw an hour ago a 1 gain against the greenback. 0. 5 . Only see it up losses in brent, the globa
Mark welcome to the polls. Welcome to the pulse. I am mark barton. The manufacturing figures. 51. 5, back in line with the earlier estimates. Pmi manufacturing, 51. 5, back in line. We have a busy show lined up today. In the next hour, we will bring you interviews with executives from embraer. Live from the ground and the only cd formed in paris. Speaking to year grumman you. Just speaking to geer grumman you. Stocks are lower. The stoxx 600 rises for the third month. Dont forget the m a fell for the first time against the dollar. As opec ministers gather in indiana, in vienna, crude is falling. Wti, that was brent crude rising. The longest stretch since 2011. Heres nejra cehic. Nejra japanese stocks fell as begin soared after Prime Minister abe confirmed he will untilne a sales tax hike 2019. Oblique previously said only an economic shock or a major earthquake would cause a delay. Chinas official factory gains remain in expansion territory in may. That adds to eminence stabilization i
Lets bring in bruins beleskey with bmo Capital Markets and dean maki and cnbcs steve liesman. What do you think . Need to take a really deep breath. My comment, not to be flippant, duh. Tell me something that i dont already know, issues that have confounded investmentors for the betterment of six months, number one. Number two, weve been pretty clear on the views in the market that are in a rinse and repeat. Cant get off the emerging markets commodity trade and cant seem to not wore egabout the fed, cant stop worrying about china. Well be worried about the election which should be thrown in there as well and think volatility is here to say so this term black swan for all intents and purposes is overused, its fearmongering and all about trying to grab the headline so i think what we already know is this. Black swans typically historically happen when you most expect them. Thats their definition. These are all known unknowns. Right. So tell me something i dont know. Right. We already kno
Ford, all of these basically weaker than expected although slightly better than expected for fiat and chrysler. The real concern is when you look at car sales. Were not talking about suvs and pickups. Were talking about car sales. The numbers, thats not a mistake there. That is accurate. Fiat chrysler cars down 39 . Gm down 25 . Same with ford. Toyota, down 15. 9 . What is happening here . A couple things. Moderate gas prices are having an impact. People are saying if i have gas at, what, 2. 32 a gallon on average in this country, hey, its still relatively cleep to where it was a few years ago. As a result, you see people rotating to crossovers, suvs. So when you take a look at the japanese automakers sh the reason were showing you the stocks is because these guys have more exposure to the car market in north america relative to gm, ford, fiat chrysler. Keep in mind, those guys have much greater exposure to trucks and suvs relative to the japanese automakers. Any way you slice it, they