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our road map begins with the retail surprise. best buy, sears, williams sonoma, all with earnings beat. shares of best buy are surging. and mickey drexler is explaining how the j crew market missed the tech revolution. the s&p is on track for another fresh record close. opec agrees on the cut extension and oil is down. a lot of news on the retail front. best buy is up, helped by an unexpected increase in u.s. comps. williams sonoma is out with better than expected guidance and earnings beat and then sears coming in above forecast. although sales continue to slump. it s not often, jim, an 11.9 decline in comp is actually above expectations. yeah. look, sears is a big short squeeze whenever it goes up and people realize well, wait a second. even when they keep selling closing stores the existing stores have bad numbers. these are terminal numbers. i mean, i won t tell you that maybe you can close all of the stores and see the stock go up. but i have never i mean ....
confronting today s very real and very vicious threats. donald trump also condemns the u.s. intelligence leaks in the manchester attack after uk prime minister theresa may raises her dissatisfaction in a brief chat at the nato meeting. sterling hitting a two-week low against the u.s. tlar adollar a two-month low after the party sees its lead reduced further in the election poll. good morning. glad you re with us once again on this friday morning. it s the end of the week. it is the friday before a long bank holiday. many european markets are taking a bridge day. volumes once again today are somewhat lower. we are seeing outperformance in the ftse 200. this has to do with the drop of sterling. this is on the back of the latest poll showing the lead of the conservatives against the stories down to just 5%. the cac 40 off by 0.4%. let s get back to the big story. our headline today, that is, of course, the oil story. oil prices continue to drop, that s having a negativ ....
complicated chemistry. shares in actelion hit bottom of the stoxx 600 as a report suggests the swiss biotech firm is considering a deal with johnson & johnson that would allow it to stay independent. no liftoff for lufthansa. shares sinking lower after the german airliner faces a setback in the courts in its bid to block yet another pilots walkout. you just saw steve there. we ll be crossing straight out to him now. opec s technical team is said to have failed to agree to details of an oil output deal. those reports are having a knock-on effect on prices. slightly lower. not a huge reaction but pulling down a tad. off shy by a percentage point. steve people are saying the market is pricing in we re not getting a deal this time. i would probably disagree with them, which is not a rare occurrence. i think the market is beautifully priced to go either way. let s look at the recent history. doha failure earlier this year, algiers, a degree of success in september. whe ....
focus on their businesses, when i do round tables with our customers, those who have exported said they never had it so good. just itching myself a bit there during the headlines. oh. it happens. it does happen. oil prices rallying as the opec secretary-general says a deal will happen today. other opec members voices similar sentiment. iraq s opec delicate said the cartel will be reaching a deal at the meeting in vienna as well today. is it positioning? do they think a deal will get done? spencer is here with us. do you think a deal will happen today? i think some form of deal will occur. they put themselves under pressure two months ago. they publicly announced they will do a deal today, now they have to deliver. some people are saying this is the most important opec meeting for a long time, and then i remember going back to algeria, dohdoha, people saying is the most important meeting. how important is this meeting compared to past meetings? it is a signif ....
The increase in high-level visits and overall mutual visits has been the most notable aspect of the development of Saudi-Japanese relations in recent years. ....