Report by the Transportation Department Inspector General says the faa over a twoyear span more than 5500 exemptions, unmanned flight by businesses but it reportedly offered only limited training. An anglo merkel is making a liberal critics of her immigration policy. She says she will protect the country against future refugees and called for a ban on face fails one by muslim women. Spoke at a convention global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Scarlet live from bloomberg World Headquarters in new york, i am scarlet fu joe i am joe weisenthal. 30 minutes from trading in the u. S. Oil scarlet scarlet slipping from a 16 month high. Joe the question is what did you miss . Scarlet the trump rally might be good in the short term but in the long run, it could hurt profits. According to bill gross. More highlights from my conversation with him. We will look at the cash chaos in india and one of the prime minis
Oil. Julie yes. An hour or so of trading. Lower. Ces are they were higher by 1 . Approaching and broaching the 50 level. It got close in the past hour or so and then fell want again. In addition to the technical level, commentary from around the world were supply has been constrained. In Nigerian Oil Minister saying it is too early, that oil has made a recovery. The latest on the alberta saying they are going to start to bring people back into that. Various headlines, it really does look like 50 per barrel. Look at the major averages. They have fallen over. All three have fallen in the red. The nasdaq has been a holdout and now no longer. The s p is deeply in the red. The dow has in lagging. Take a look on the bloomberg here. The sectors on the move, energy, the worstperforming group. Really coming from oil prices, Consumer Staples also today. This is coming in the face of what looks like positive Economic Data earlier this morning. Bigtime gainers, how does that work . It is a little
Roundup for the month of may. The s p 500 climbing 1. 5 . Surprising and to the day, the dow a significant laggard. Utilities leading the way, kind of a strange and unpredictable start to the week. Exactly. Oliver i want to start off talking about another weird stocks move. Look at the shanghai stock futures this morning before we came in. Speaking of starting off on a weird foot, a bit of a flash crash that happened in china attributed to selling on a hedging account. Obviously a big deal because of the dirt in the liquidity in the market. I think that investors are worried about the regulations the government is having on daily trading but here you see whats happening. Very little liquidity in the market, you have the kind of tips. Moving into the u. S. An interesting kind of move in the later half a day. Particularly semiconductors ending up. A big reversal, down 50 basis points at one point during the day. The only sector with above average volume, two other stocks least threees of
The election but it has had an effect on the markets today. Clintons performance causing a additionlly today in to we have a Consumer Confidence reading for august that was the strongest in nine years with survey respondents saying they see jobs as plentiful at the moment. Aroundhave been hovering highs of the sessions for most of the day. What specifically we are watching, the fang stocks to the floor as of late. Largecap technology counting for a lot of the recent gains we see. We were talking about the sector spider report and amazon trading a record. Netflix higher, helped by price target increase. Alpha that is also gaining ground, so tech is the single biggest contributor. One exception is linkedin, on a report that there may be regulatory opposition in the eu. Thats coming from a Market Research firm. Clearly where those headlines hit. So thats a bit of outlier in technology today. Creating a bit of a in other types of cyclical groups, Energy Shares because we see a decline in o
Market mention. Consumer confidence comes in at a nineyear high. Much better boost in Consumer Confidence than people had anticipated. We got past the hump of the president ial debate, which had caused uncertainty. Thats right. If you take a look at the s p 500 you can see that it closed up today, led mostly by retailers and technology companies. Part of that is the relief rally, part of that is the Consumer Confidence numbers that you mentioned. We were also talking about banks earlier. Rebounding a bit from yesterday. Closing up yesterday from where it was yesterday. Eating into a bit of the relief rally. We get tooe optimistic, lets take a look at some energy stocks. Skew, a look at the thats a oneyear high indicating that investors are nervous about energy stocks. Getting back to that old uncertainty. On the Government Bond front, not much going on there. Even in this risk on day, theything kind of on twoyear. Remember we were like positive yields in germany . That quickly disappea