The last two sessions. The major averages have maintained the gains. We havent seen any major hiccups. Relatively broadbased rally once again. Energy stocks are leading the way higher. Whether its a good idea to buy Energy Stocks, people are certainly doing so. The group is up 1. 4 . Banks have also been leading the gains we have been seeing over the past couple days. We did get that Oil Inventories report indeed, and that has been helping these Energy Stocks. Take a look at the percentage leaders. Weve got transocean, chesapeake. Many of these are those that are the most sensitive to changes in did in the underlying oil prices, and in terms of index points, weve got chevron and exxon mobil, which happens to be holding its annual meeting. Oil prices themselves were volatile in the wake of that aventory data, which showed larger than estimated drawdown in the weekly inventory numbers for crude oil. Gasoline is another matter. Its the 11th straight week that production has fallen, to the
On the bloomberg. The reason you do not see a dot beyond on the righthand side, he is saying that is outside of a poor castable four castable forecastable period. This is fascinating. When the summary of Economic Projections came out and we look at that straight up right at the bottom, the answer is there now. Jim bullard. David when you read the statement hes just issued, hes saying a lot of things people the fed is about projecting out into the future well beyond what it can no. Know. S what it can some people think their models are run. Alix how do you forecast a fed that is data dependent . After the dots were released, there was chatter in the market with alie evans statement of a shift in how you view the economy and where you actually think rates should be. Of the f1 all members see are in agreement about the approach to this question. Agreement. In the question is whether other people come to jim bullards side. David we will have a bloomberg exclusive with microsoft cofounder b
Welcome to countdown. Lots of talk about this morning. Lots of centralbank activity, the bank of japan standing down, as the markets react, and the fed down guiding the pace at least of those. Lots of talk about those. Amongst all of that, we continue to focus on the brexit risk, the u. K. Referendum a week from now, a week in an hour until polls open. Let us try to contact relies the market activity we have seen in recent days, as many voices warning on the global stage about the risk of a brexit. President obama, angela merkel, mario draghi, and others. How tense a market as we run up to the vote. I have the stress index, which actually might be of some comfort, depending on how you are position for this. Talking about whether there is any kind of Systemic Risk. Pimco saying there is no Systemic Risk around the brexit question. You see the measure of Financial Stress in the market, at least on a level, as indicated by this web circle, the oval here. Saw atn as high as we the time of
Have a look at where equities are looking. There you have them. Isry single Industry Group trading down. The stoxx 600 is 1. 46 lower. We are lower for the sixth day in seven. The last seven days have seen 7. 5 wiped off the value of european equities. That equates to 680 billion euros. Every single stock is down or Industry Group is down. The concern, once again, reverting to the u. K. Referendum in just over a weeks time, as well as the Central Banks that have dominated the airwaves in the last 24 hours. Gold miners, gold rising today inrand gold it has mines mali, ivory coast, the democratic republic of the congo it is benefiting from the 7 in the price of gold. If brexit occurs, gold could reach 1550 an ounce. That is according to the strategist we have survey data bloombergs. This is rand gold versus gold. 5056 higher. That is not bad. The s p 500 in the same time period is up by 40 . A dark day for the banks at record lows for credit suisse. The Swiss National bank says they need
Ith tom keene in new york there is a lot in the markets. The havens are under pressure. The yen at 103. We need to look at the banks, as well. Tom more than i expected 12hours ago. This has been a massive adapt and adjust to the pageantry we saw yesterday afternoon at the yellen press conference. I dont know where to begin on the market interdependencies right now. It is an extraordinary morning. Francine i know you are looking at swiss. We have a great interview with this was with the Swiss National Bank President. Lets get to the bloomberg first word news with nejra cehic. Nejra investigators found the main wreckage site of the egypt air airplane that crashed into the mediterranean. They gave images of the airbus remains to authorities. Investigators are trying to find the black box flight recorders, which may be the only way to find out what caused it to crash. President putin has a message for the European Union. Buts put you crying behind us and get back to business. He is speakin