Shanghai composite was flat. In european trading, things are barely changed the dax and ftse slightly higher cac down about 0. 1 . Italian stocks down as well, but in spain stocks are slightly higher checking out wti, still above 50 a barrel sitting at 50. 84 a barrel were following a developing story out of Northern California Deadly Wildfires burning unchecked there. Officials say 23 people have died from those fires. More than 3500 structuring have been destroyed leaving hundreds missing in chaotic evacuations firefighters are battling high winds as they try to contain two dozen blazes spanning eight counties yesterday a mandatory evacuation was enforced in sonoma county. Well get an update from Northern California later in the program. I didnt understand why this had been so hectic why people didnt know to leave and confused they were dealing with winds that were above 70 Miles Per Hour on sunday night when you think about that, that means the fire is moving over 70 Miles Per Hour,
Good morning to you from me as well throwback thursday. Were throwing it back for the best anthems for pride month lets check in on the global markets. Showing you whats happening with futures after mixed ending to yesterdays session the nasdaq rose about 0. P the dow and s p finished lower. Biotech has been strong lately well talk about that. It was a big turnaround from where we stood this time yesterday. The nasdaq was down about a half percent and ended up three quarters of a percent. The futures were not a tell for the session. Nasdaq futures higher. Nasdaq down 1, s p down 3. Not a lot of movement this morning. Oil prices front and center. Those low prices a drag on Energy Stocks for sure also keeping yields lower. Wti, 42. 44, down about 0. 2 . Brent crude below 45 a barrel nat gas higher this morning. That meant energy was the worst performing sector but only just beating banks in terms of the underperformance. Energy down 1. 6 banks down over 1 focus on them again today ahead
Good friday morning. Welcome to squawk alley. Were at post 9 of the New York Stock Exchange jon fortt is off today ed lee joins us. A lot to get to tech took a item thbl morning. The nasdaq continues to slide amid that selloff that began in yesterdays session. The index set multiple record highs earlier in the week, mike. As we know, we hit critical levels on market cap on unit performance. Nasdaq getting 28 year today. We were talking about jeff bezos being the richest man alive. I think also a couple other things working against tech which is this month the market has been inclined to sell the winners. The year to date winners are the worst performers this year and then earnings season, youve had to have absolutely across the board blowout numbers to get rewarded on the first day. So you saw alphabet. You had a little pullback on generally good numbers amazon the same effect i think all that is causing people to wonder whether its time to take some chips away from tech. I think, espe
It like they heard it and frankly the people that were questioning that statement was it too tough, maybe it wasnt tough enough. Maria this as china staterun newspapers calling on its government to, quote, state neutral if north korea strikes. President trumps comments taking a toll, in asia overnight, stocks sliding, hang seng sliding 2 and japan was closed but the shanghai down as korean kospi index. In europe this morning, declines across the board. Decline of better than 1 right now. In the u. S. We are taking a look at another down day, fourth straight decliner on the week, the industrial average expected to begin a fraction, just 18 points, nasdaq down a quarter of a percent, 14 points lower. Police officer survives a shooting that was caught on his own camera. The scary scene and heart wrenching moments when he relays a message to his family. Thats coming up. Tracking money used for terrorism, new report in wall street journal, isis funneled money in u. S. Operative through ebay
Overnight and why is it now beginning to pick up a little bit . Estimates and see significant restructuring costs. s efforts be enough to reignite growth . We will speak to him at 745 gmt. And going on a charm offensive. Britains Biggest Union says it will not support the loss of a single job. 830ill speak to its head at gmt. Lets talk about what is happening with these markets. Will have seen over the last half an hour is a turnaround. It is fascinating to see what is going on. These are the futures here, calculated into a fair value. This is the london market, most cac is onerkets, the exception. The s ps price for a negative as well. We have not seen that since 2013. This is the story, focus on this line here. When i got in first thing this morning the euro was up, the dollar was down. That was fascinating given what we have seen overnight in spreads and how they affect pricing. We will talk about that. That has turned around as london liquidity kicked in. The bund yield is interest