Package. The merger between psa and fiat in a move that could force more concessions from the auto giants a new designated driver. Replacing the head of vw brands as the automaker battles with unions over cost cutting plans saudi arabia will no longer cut Additional Oil they say demand is thriving. With we have no whatsoever for lack all of us in the whole World Oil Market have no stomach whatsoever for any type of laxityies. A warm welcome to street signs. European markets have been open about an hour now. It has already been a choppy session. We open in positive territory. Now the main benchmark is down 0. 4 yesterday, the main benchmark dropped 0. 3 what was remarkable was the fact we saw the final recession word enter the mix. Declaring the United States has officially entered a recession just as the nasdaq hit a new record high and raised all losses for 2020. Major difference for what we are seeing in Financial Markets and what we are seeing in the real economy. Begging the questi
Deutsche bank in the crosshairs, u. S. Investigators with the malaysia scandal investment fund. The tale of two listings. Budweiser asia offering is set to price later today. Less than half an hour until the start of European Equity trading. Ftse futures look like this, positive, as if we will get more out of the minutes or Powell Comments we heard yesterday. Storyle catchup, the before that session is a positive one. Lets see where we are on the asian session. A strong session, fully pricing in everything we heard from paolo overnight. The expectations for july have an cemented. The jobs report on friday did not change the fed thinking on what should be done with insurance cuts against the slowdown globally. Higher. Arkets going this is the fx picture. The japanese yen on the rise. The dollar retreating. Lets put up the other side and show the fixed income side. There are bigger questions about what happens to sovereign trade if we look to reinflate the u. S. Economy. In terms of the
S p 500. You are talking about how investors are happy with the fed decision. This chart suggests they may get happier. A chart of the s p 500. We see theseyear, areas of consolidation as the bulls took outcome of the buyers taking out above the 50 day moving average. In may, that bearish action. There was an area of congestion that went to the sellers. The buyers have stepped up in this area of congestion into todays meeting. Broke to the upside yesterday. You can see less than 1 away from alltime highs. Gaining momentum. The s p 500 is confirmed for 30 six, suggesting new alltime highs are ahead for the s p 500 this summer. Emma if you were just watching gold this afternoon, you got a clear read on what we learned from the fed. It approached a 14 month high at one point during the session as investors said that fed would cut rates. Two ways in which this benefits that the fed may be considering cutting rates suggesting that the economy is getting worse. If the times are going to get
And in company news, the situation is getting dire for a retailer, seeing credit withdrawn as an accounting scandal threatens to doom the business. That is all ahead. Julie hyman is here. It sounds like the rally is taking a pause. Julie it definitely looks like a pause. Ulie we have seen stocks bounced between gains and losses since the open of trading, and see all three major averages into the red. We have some of the interestrate sensitive sectors like utilities and Real Estate Investment trusts lower along with technology, which you can see by the decline we are seeing. We have some analyst calls from largecap stocks, apple among them. Apple getting a rare downgrade from nomura. The analyst says positives are already priced into the stock, lowering the rating to neutral. Le shares up just 0. 8 apple shares off just zero point percent. Walmart, an analyst getting ready, saying ecommerce can be a competitor to amazon. Finally, General Motors are the third in our trio of largecap stoc
Picture. Comes off a day of record closes once again the gains were relatively slight they did come off the highs during the course of the feenl few ho final few hours of the session the Telecom Sector was the worst. Healthcare was the best. The nasdaq was the laggard of the three. Oil hitting a threeyear high thanks to ongoing production cuts led by opec gained about 2 yesterday. Up another 0. 7 . 63. 4, so a great start to the year for oil prices. That continued not just a strong year but a strong q4 in particular tenyear treasury note for you yields did move higher yesterday. For once its been the longer end of the curve that moved higher, faster than the shorter end. 2. 546. This time yesterday flirting with the 2. 5 level, yesterday it picked up steam. The 30year moved noticeably higher people talking about the fact that this is a surprise underlying tapering from the japanese thats driving global bond Prices Higher that shows the way that the u. S. Has been anchored by the Intern