We have gains for the major averages. For the s p 500 and nasdaq, we are looking at another set of alltime highs. It may be a holiday shortened trading session, but the buyers are stepping out, not just today, but on the week. Looking at weekly gain for the three major averages. The first weekly gain in three, so many of them are looking for a pullback. It will be interesting to see if that happens next week or whether or not the possibilities have been he, if you will, as this years rally continues on. At blacks looking friday. Retail stocks popping higher. Macys, kohls, and the gap. Macys of 4 . For 2017, the stats are very strong, suggesting it could be the highest shopping season in three years as a 5 00 p. M. Yesterday, spending was up 17 yearoveryear. We will be updating this, but it does look as though we are off to a very strong start. Shopperss, who lore offering discounts and rebates. Another top market today, oil. Lets look at the pocket of strength. Oil, look at that, neari
I am guy johnson. Caroline i am Caroline Hyde in london. We are talking about the markets because it is all about china for me today. We are looking at greece if we are looking at your. We have to look at the China Shanghai composition 3. 2 trillion dollars have been wiped off in terms of market capitalization in china. We have it down 30 in three weeks. Bank of america, morgan stanley, all warned of this bubble and now not only the internal investors but also outside investors, those looking from hong kong. Ipos has canceled funding. Guy what do you expect . Yesterday, we saw it close. At the end of the day, it was only up a tad and today we see a banking. Greece is the other story that we are watching. We want to know what is going to happen because there will be another busy day. The finance ministers are meeting in brussels. A new greek finance minister will be meeting them today. That happens in just under six hours in brussels and then we have the leaders gathering. Mr. Tsipras w
Equity side. One asset class to be looking for is oil. Iran talk continues in the anna in vienna. Not likely to meet the deadline tonight. Will they get some sort of deal . We saw the route over the past few days. Here we have it, down 52. 90. It is trading slightly. We are seeing settles in the oil price. Zero, pretty much south. Up by half percent yesterday. A little bit of concern about what is to be done with the ecb and ela. Will they give more funding to the greek banks eventually. More haircuts in can more haircuts to collateral. Greek markets are rising. Down in germany. A slight change. This is yesterdays close. We are not updating. This is yesterdays news. Today, we are seeing more Risk Appetite in terms of debt market. We are expecting some significant moves. People saying Axel Springer, owner of numerous newspapers in germany, could combine. Remember 10 years ago . It was squashed by regulators. The german Media Companies refamiliarizing themselves with potential deals. Mar
I am manus cranny. Coming up on the pulse, well be speaking to the former a tie in finance minister and the bank of italy director general emeritus the british co simon money emeritus fabrizzio saccomoni. Angela merkel warned that the clock is ticking. Time is running out. Where emphasizing the social cause they need to be made. And on to resolve the situation as it is. Manus let us get to our team. Guy johnson in athens. Once nichols in brussels. Hans nichols and brussels. Guy, let us go to you. It is about the banks. European Central Banks is holding Europeans Bank is holding firm on what they loaned to the banks so far. Guy paul will give you the details of what is happening. The Banking System remained shut. This economy is grinding to a halt. The agency said about depression. That is what it feels like at the moment. Businesses are shutting up. They cannot get more credit. Npls were already bad. They are going through the roof at the moment. The greek tagging system has enough cas
Lets catch up on what the market has done overnight. The big issue is oil, back in the bear market. It is currently down 20 off its highback in june, when we reached the high. Clearly, china is weighing into that once more with concerns about too much supply and where demand goes when you have the pmi coming out of china. If missed every single economists forecast. We saw doing even worse than had been expected. I will also bring you uptodate with some of the market moves we saw in terms of closing on the equity market. The commodities that is feeding into the market, the s p 500 off by nearly a half a percent. Meanwhile, the european stoxx 600 is off. They have been slumping for three days in a row. That brings us to our twitter question of the day. Let us know how much further does the commodities route have to go . Tweet me. I want to know your thoughts and what you think good oil go even further than a 20 decline . Of course it was disappointing in china when preliminary pmi fell t