Angeles. It is time to get to the markets. We are 30 minutes into the trading session. Abigail doolittle is here. Abigail we are looking at a relatively bullish start. The dow is now higher for a six day in a row, putting it at another alltime high. The s p 500 moved down fractional yesterday, so we dont have a record high yet. The nasdaq since late november, but bullish action. And a man thinks we are going to continue to gain right into the end of the year on two factors, the possibility of future and cast into the u. S. On tax reform that could come back in the form of dividends, plus buybacks, then earnings. He thinks 2018 will be very strong. It now into the bloomberg, seeing what is setting up from a short perspective, bearish bets on the market. This is 5568. The put open interest on the s p 500 ultrashort etf. But is a very spent on the s p 500 that is a bearish bet. The calls are going skyhigh, the business investment, investors are bearish on the s p 500, Retail Investors and
South african politics members of the governing anc begin to vote on a new leader who will likely become president in next years election. A very positive morning across europe so far when we look at equity training. The stocks at 600 up nearly 1 right now a lot of green across the board. Lets take a look at the specific markets action across the continent. The foots see up 1. 5 . The cac ka rant in paris up and lets take a look at the specific sectors that are driving that positive movement this morning we can see from across the entire country the sectors, lets take a look at the numbers as they come through coming very shortly. Waiting for that foots see action there very slightlyup more than half a percent. Lets talk about whats going on in the United States so talking of taxes, President Trump has defended the 1. 5 trillion expected in cuts that could stem from the new tax reform bill. He said the economy, meanwhile, is going to, quote, start to rock the bill will create jobs and
Security council has passed tough new sanctions on north korea that will cut oil supplies vital for pyongyangs missile and nuclear programs. With chinas backing, the Council Unanimously adopted this us draft resolution that forces the repatriation of north korean workers abroad, cutting off another revenue stream of kim jong uns regime. Heres what the Us Ambassador to the un, nikki haley had to say a short time ago. Today, for the tenth time, this council stands united against the north korean regime that rejects the pursuit of peace. The kim regime continues to defy the resolutions of this council, the norms of civilised behaviour and the patience of the international community. Their arrogance and hostility to anything productive has set their country on a destructive path. The bbcs un reporter nada tawfikjoined me earlier. Rex tillerson said he wanted to see this, President Trump even called president xi to say he wanted oil supplies cut off and weve seen the Security Council bring
Nuclear programme. At diplomats at this resolution will bite hard enough to change the regimes oculus, or at the very least restrictive ability to carry out Additional Nuclear and missile tests. President trump specifically asked president xijinping of tests. President trump specifically asked president xi jinping of china to cut oil to pyongyang believing it would be a pivotal step, according to the United States north korea imported 11. 5 Million Barrels of refined but trolley in 2016. This resolution it to 500,000 barrels a year, and nearly 90 cut to a vital lifeline of the regime. Mr trump celebrated the adoption of new sanctions, tweeting the world wants peace, not death. Americas un Ambassador Nikki Haley warned there would be wrecked but graf of repercussions if pyongyang continued on its course. Theys resolution achieves and 89 total reduction of the camera graf or kim regimes ability to import gasoline, diesel sin ability to import gasoline, diesel s in other Refined Products
Crunch struck, responding by pumping billions of pounds into the economy. Joining me on leaders with lacqua, former bank of england governor, economist and author mervyn king. Lord king, thank you so much for speaking to bloomberg tv. It is always a great pleasure. What lessons have we learned from the financial crisis . Lord king i hope we learned the lesson that this was a lot bigger than just a financial crisis. It represented a serious problem in the world economy. Not sure that everyone sees it that way, but i think that is the most important lesson. I think secondly we learned we need to worry not just about the amount of Equity Capital banks issue, we need to limit the leverage, but we also need to tackle the problem that banks are inherently unstable. And if people lose confidence in them, they take their money out, or they do not roll over their lending, and we need a mechanism for dealing with that. Francine did we see early signs of it, or were we late to the game . Lord kin