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Some are saying it is a series of management missteps catching up to fedex right now. Guy i think the fact that the president is going down the sanctions route rather than taking a route which could become a little more connected is probably why we are seeing oil come off a little bit. Doesnt mean saudi wont go down that route, but brent crude, as youve indicated, well markets are lower. We are down by 0. 8 . A reversal when it comes up to the market from a sector point of view. We are just waiting for the fomc. We are barely budging. Eurodollar just a little lower. Will today be dollar positive or negative . Saying, it iswere Federal Reserve decision today. The committee is expected to cut rates 25 points. Carl riccadonna is with us now. Will be first question to the fed chair today be about repo markets . Carl i think theres a good chance of that. I dont think we should look for anything on the repo facility or what they are do ....
Tumble. Paul the services session in the u. S. The board. On across treasury yields rallying. The s p 500 jumped into a fiveweek high. The 50 day moving average. Tech shares let the gains on renewed optimism over trade and we had rally at the twoyear yield. At one point, it jumped by the most in about a decade. We had very strong Economic Data when it came to the private payrolls numbers but also little changed when it came to the jobless claims, so the focus is turning to the u. S. August job reports that are coming out tomorrow. U. S. Futures unchanged. Lets see how we are setting up for asia. Sophie it remains to be seen whether this will continue after global stocks posted arrest day gainin since two since january. Hong kong on the radar after Derivatives Trading faced pickups on thursday. We have the nikkei futures in chicago looking to gain ground after the nikkei 2 ....
Above 3000. Some of the banks impressing investors. Kbw baking index up 06 . Schumberger down 1. 9 . Generationlow seeming to have investors spooked. Alliance data systems the worst performing on the s p 500. There is a little selling going on in that stock today. Lets go to europe, where we are seeing some challenges in italy. The ftse moved down 1. 7 , the worst performance in europe. The stoxx 600 is higher. It is up 0. 2 . Earnings in europe pretty strong all told. Italy with a little bit of turmoil. The euro as well little lower on that turmoil. The italian 10year yield at 1. 26 . We are seeing buying. Lets get insight on what is driving markets. Joining me is bloomberg macro recorder cameron crise. Did the Federal Reserve conversation change 180 degrees again in the last 24 hours . Cameron we thought so, and then not. It was kind of farcical. Yesterday, John Williams wa ....
Joining us for the hour to break down the market action, keith bliss. Good afternoon to you. Thank you very much, wilf really good to be with you snapshot of today, why are we selling off . Number one, you have low volumes coming into july you usually have the spike in june on the weekly volumes were seeing that today. Listen, you got to say the news is really washing over the markets as it relates to boeing. The downgrade we had at apple, people are getting nervous about what fed chairman powell may say and may not do at the end of the month. I think thats why youre seeing a little selloff in combination with that is we did get overbought in the dow a couple weeks ago are traders talking about the fed and whether they may not cut at the end of the month . Youre certainly seeing that in the discussions that you have with traders and investors alike. Youre not seeing it reflected in the fed funds futures yet still an overwhelming majority of people think were going to get a 25basis poin ....