It is an Interest Rate driven parade. Higher largelyd on the strength of Consumer Spending which rose by 3. 5 . Some optimism creeping into the stock market and bond market as well. All three major averages with gains. The gains are pretty broadbased. We only have two groups that are lower today, utilities and consumer staples. A lot of the groups are little changed. Financials gain. You have the big money centered and evenng well better, the regional banks rising today. The bond market today, you will see what is going on here. We have this recent trend of the yield curve flattening. Instead, today, we are seeing a bit of steepening. The 30 year yield going up for basis points. The two year yield up one basis point. After a day of steepening, it looks like theres a relief to some of these financials. We have the yield spreads in order here. The five and 30s in the middle and 10 and 30s on the bottom. The flattening of the various curves and then a bit of steepening today. Looksncrease
Plus the head of dnc, in the middle of another debate cheating scandal. What todays batch of wikileaks now revealed. Donald trump barnstorming through michigan this hour. Election just eight stays away. Polls are tightening. David very exciting. Back to the market. Dow ending in the red for the Third Straight month is longest losing streak in five years. Fox business contributor is watching action in oil and gold from cme. And Ashley Webster on floor of new york stock exchange. Ashley before we get to anything else, you have breaking news on valeant. Go ahead. Seen stock price tumble down 12 1 2 . Word of a report from bloomberg that says u. S. Prosecutors, now focusing on Valeant Pharmaceuticals exceo, and excfo. J Michael Pierson and exceo howard schiller. They are looking into potential accounting fraud charges related to the Canadian Company hidden ties, it gets confusing but to ties to a Specialty Pharma Company that valeant secretly controlled. In other words were they funneling
The republicans have said fbi has not provided enough details about the probe. Cnn cut ties with donna thezeale, who is currently interim chair of the democratic committee. She apparently only allegedly gave clinton answers for questions. U. K. s ambassador to the called his Company Country a major stakeholder in the u. K. And the Company Country must put improve communication. The british spy chief warns that russia is an increasing threat to the u. K. The director general Andrew Carter said that russia has active agents in the u. K. And is pushing Foreign Policy through Cyber Attacks and subversion. It is the first time a chief has given a newspaper interview. In china there are new questions about the next generation of leaders. A Senior Communist Party official says there is no set retirement age, calling into question who will step down when the president reshuffles his leadership next year. Usually the communist party has retired officials age 60 and over. Global news 24 hours a
Replace the president s friend as she replaces the finance chief. Is 8 00 a. M. Across the emirates, 4 00 a. M. In london. In hong kong, just past noon. Welcome to labor markets middle east. Lets take a look at the state of play on the markets. We cant ignore what is happening in the u. S. , because thats whats driving the sentiment we are seeing across the board in asia. Trading for almost 20 minutes, down close to 1 . As you can see, despite the topicshaven of the yen, is also down more than 2 . It really is all about volatility as a result of the latest paul showing trump in the lead. Manus yeah. C onink if you go to ele your terminal, you can pick up the sentiment. This is very reminiscent of what happened in the 10 days before brexit. If we look at the bank of america volatility chart, youve mentor rumpall trumpometer, dollarpeso. This is in the five days. I took it back a little bit further. If we go back as far as june, you can see volatility is nowhere near where we were on bre
Economics, finance, and investment but is america exhausted by a stunning game last night . It will truly get super bowl ratings. Francine well. Politics, sports has been amazing. Government british is bracing for a court ruling in the lawsuit challenging brexit. In about an hour three judges will roll whether theresa may can begin the u. K. Exit from the European Union without permission from parliament. Wasish parliament overwhelmingly eu. Egypt has taken the unprecedented move of letting its currency trade freely. The measures move egypt closer to getting the 12 billion loan from the imf. Federal reserve policy makers have telegraphed their intent to raise interest rates. The fed says it needs only some further evidence that employment is on track before hiking the rates. What they do not know is what impact next tuesdays election will have. Our kids priced in an 80 chance of a fed move next month markets priced in an 80 chance of a fed move next month. The report has ordered an inv