Same story taking place in the broader market. The s p 500 is up nearly half a percent now at 21. 02. Twitter and yelp have been tumbling on this wednesday. Tech stocks taking a beating. Twitter down 14 . Twitter shares falling the stock is down just over 9 . Twitters Top Executive saying growth will take some time. Yelp is slumping this afternoon. Shares down nearly 29 after it reduced its revenue forecast and is cutting National Brand advertising. Lets move on to oil and gold. Oil is on the rise today after u. S. Crude stockpiles unexpectedly decreased and production declined. 4923 crude is up 2. 6 at 49. 23. Gold futures are slumping, now at 1094. 80. Betty a check on the bottom markets right now people you had housing data you are seen yields rise. Waiting on the timing and pays for a rate hike. Causing a gap between the two year yield and 30 year yield to narrow. Finally, on the currency markets , Commodity Markets dominating for Exchange Trades foreign Exchange Trades. The top st
Rival, bill ackman. Not the best return on a short position. Julie irelands Prime Minister wonders exactly what Great Britain is looking for in brexit talks . Where we are confused and puzzled, what does the United Kingdom want with the European Union . Julie central bankers take center stage at jackson hole, and we sit down oneonone with two fed president s. I think you have to be careful on the estimates as opposed to the broader trends. I think we should be removing the accommodation, but it should be Done Gradually. Julie plus, a roundup of the weeks most intriguing earnings report. We had a very high quality set of results. We have to be patient, we know what our businesses are worth. Julie it is all straight ahead on bloomberg best. Julie hello, and welcome. Im julie hyman. This is bloomberg best. Your weekly review of important analysis from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The week began with the major deal involving
Rival, bill ackman. Not the best return on a short position. Julie irelands Prime Minister wonders exactly what Great Britain is looking for in brexit talks . Where we are confused and puzzled what does the united , kingdom want with the European Union . Julie central bankers take center stage at jackson hole, and we sit down oneonone with two fed president s. I think you have to be careful on the estimates as opposed to the broader trends. I think we should be removing the accommodation, but it should be Done Gradually. Julie plus, a roundup of the weeks most intriguing earnings report. We had a very high quality set of results. We have to be patient, we know what our businesses are worth. Julie it is all straight ahead on bloomberg best. Julie hello, and welcome. Im julie hyman. This is bloomberg best. Your weekly review of important analysis from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The week began with the major deal involvin
Overnight in asia, the markets in china, hong kong and taiwan all closed for dragon boat festival. And early trading in europe, also red arrows. The dax is the biggest decliner. Down 1. 25 the cac and ftsi boat down 1 . Wti down but still well above 50. And george soros front page this morning. A bearish soros is lured back to trading again. Getting back into the game. Soros recently directed a series of big bearish investments, semiing stocks and buying gold in shares of gold miners. And in an article he warns the falloff from ununwinding of chinese investments likely will have global implications. Soros is worried that continued inflation in china will hurt the u. S. And others. And he say s telling the jou if britain leaves it could unleash a general exodus and the disintegration of the European Union will become practically unavoidable. Soross best known trades of course he bet against the pound in 1992 in a trade that led to 1 billion in profits. We know what the markets done. Som
Officially the deputy crown prince which puts him second in line to the throne. Over the past year, he has been given a portfolio, by his father over the economy, the oil industry, the defense ministry, and o he is unveiling what is saudiggest redo of the economy for decades. He grew up wanting to be the next steve jobs. In the interviews he has given us, he talked a lot about technical revolution, what it means for people his age, who constituted more than half the population and saudi. The biggest scoop to come out of this interview is we always knew they were under pressure over the past year or so, they are running out of finances. They had several hundred billion dollars of foreign reserves. What they told us is that a year ago, they realized their burn rate was giving them to a place that they would be bankrupt by early 2017. The imf was telling the world they would be out of it by 2021. The world of a have five years. What was true is that they had less than two. Over the past 1