In the might be team take a look at what happened overnight in asia. Right now, asia closed up just slightly. The shanghai comp was down slightly. The hang sang up. 30 . Europe in the the early trading right now. See red arrows across the board. These are declines. Pretty mad rat. Basically a quarter percentage point decline across the board. If you check out crude oil prices big thing to watch yesterday. Crude oil up jed yesterday. Biggest jump in five months. After we saw that confirmation of the drawdown that had been suggested the night before, you see right now wti giving back a little gain. Decline of. 51. Breaking news out of north korea overnight that could be ralting markets this morning. The country claiming to have successfully tested a Nuclear War Head in what may have been most powerful detonation ever. South korean said it was the fifth test and had the impact of a ten killton explosion. President obama was briefed on that test aboard air force one. He said any provocativ
Iea saying the global glut say that ten times fast is bigger than thought. And the risk of Oil Prices Falling further has increased. That this has nearly every oil Company Stock lower again today despite some of the bigger names likes exxon, chevron, shell and others being in the middle of a mini rally this month. Self ron up 2 this past week. And exxon mobile up about 6 . Joining us now chris kelly, he covered the oil sector for janice. Chris, listen, lets try to focus the whole story through one stock. That is a name you like. Enterprise products, he pd. Their numbers werent terrible. Their earnings per unit down a little bit but better than expected. Volumes, okay. Gross margins, okay. Yet the stock is being absolutely pumeed. Are we seeing and this maybe is just one example of it indiscriminate selling at this point without regard to fundamentals . Hi brian thanks for having me. I think we are having some technical macrodriven elements of the market outside of fundamentals. To be c
Manus welcome to countdown, breaking news live bloomberg terminal. The Worlds Largest chemicals producer has delivered their 2016 earnings outlook. It will be below a slightly below. That is the line from 2015. Definition of the considerable drop in sales meet anything below 6 . This is a warning in terms of their outlook. This is at the forefront of global industry. Were seeing trade under pressure. Defined a considerable drop in sales anything below 6 . They are saying they will see a slight drop off in profits. Chance 1 to 10 change that is what theyre calling a potential slightest change. If i drop in profit. Now, the chairman of basf will move with the guy johnson. The one thing that is driving markets today, the s p 500 hit a sevenweek high. Managedenchmarks had all february losses. What will come from the g20 . It depends if you listen to. From china, they have room to tweak. That we the prism of fx are perhaps the most focused. The uks taken a battering, sterling has had a bad
Price but is still banking on 40 a barrel. We are going to ask the companys ceo at 8 30 london time. The g20 story front and center. Carnies point is an interesting one. And schaeuble still banging the drum about structural reform. He sees that as the only way forward. Hans there isnt a whole lot of structural reform heading in the direction schaeuble would want in germany. Toy have all these refugees build housing for, to feed. That is a lot of fiscal stimulus. At the bundesbank, they are talking about having 0. 25 increase on gdp. Schaeuble in some ways is making the opposite argument of what hes doing at home. Guy plenty to talk about. We need to talk about the cpi story as well. Inflation, lets run you through what the market looks like with 28 minutes ago until the equity market open. Is a risk on story. It has been a risk on kind of week. Stoxx 600. 1. 2 . Ftse looks like it is opening up 1 . A littlealk basf later. Ats lets take a quick look some assets. Brent up just a little b
Been all of have these gyration in the markets and reaction to this jobs report. Its been puzzling in the wake of the report. It came in better than estimated. Some of the internals are mixed including the right taking up. By0 now its up three. Its been bouncing around in that range quite a bit as investors try to figure out what the feds next move is. We are still going into earnings season. They say thats going to be the next big catalyst. It is health care that is leading the gains at the moment. Consumer staples are doing well. Financials, the rates are going to be positive for that group. Oil today is trading lower. We heard saudi arabia not just talking about that mega fund and they are not going to join a production freeze and lets everyone in lopez does. Iran has said they will not join the freeze. As you know, that equals a down price for oil today. Higherhe dollar climbed after the jobs report as well. we are seeing this volatility in the market today. The dollar index climbe