Francine lacqua. Stocks did open a bit lower. Its down a 1 5 of one percent. 4 since friday, the 24th. Sterling gaining for the first day in three. Down almost 11 since friday the 24th, the day after the referendum. The u. K. 10year is up by a couple of basis points. Today, rising above 21 for the first time in a couple years. Investors seeking Precious Metals as haven asset. Lets get the bloomberg first word news. Good morning. Nejra stanton and pours estimates a standard inrs estimates a 0. 8 hit vote. Ke the u. K. Brexit it will see a 1 drag on gdp next year. The bank of england will have to. E. Program. Q us try his election has resulted in Neither Party having enough seats to form a government, threatening to undermine the nations credit rating. Moodys has said there are limited implications for australias top grade. A wider deficit could put downward pressure. Election results have yet to be completely finalize. An increasing number of economists predict chinese banks will see th
Australia, 1. 95 , a record low. The yields coming down further, market fear driving this lower, according to the senior strategists. It moved back into safety, really more pronounced when you look at the currency markets. If you had to pick dollar or yen, it would be the yen. If you had to pick the dollar and yen against anything else, you would pick both. Past 102 thised morning. What a difference. Before i go, have a look at this, pushing up. We are looking at more weakness in the renminbi. Just a key data point at want to mention. We saw the private survey in services, improvement in june. In other words, more optimists than pessimists. Yvonne david, thank you. Australias trade deficit was that it had expected it may, coming in at 2. 2 billion aud, the equivalent of 1. 7 billion usd. Rba sets the the cash rate later today with no change expected. For more, lets get to paul allen in sydney. Paul, the economists were pretty much unanimous on no cut, but its a different story for augu
Aside as the head of the u. K. Independence party, he said he has done his job and wants his life back. Cc andestment bank ci the China Investment securities are on talk about a merger. The firms have around 28 billion in assets, cicc has declined to comment while there has been no response from cis. Global news 24 hours a day powered by more than 2600 journalists and analysts and more than 120 countries. Lets check in on the markets appeared your opinion stocks falling for them for the first day in five almost rising almost 8 in the four days through thursday. That was the most since february. The ftse 100 is just a whisker away from able market, down by 4 10 of 1 but approaching able market from its lows in february when it was at a 3. 5 below growth, 7 last week, the best oft weeks in september 2011, the currency and bond markets today, look at the pound index which is down again, falling for a third day to a record low since friday. It has dropped by 10 points. The u. K. 10 year yi
Where julie hyman has the latest. Julie another quiet rally pushing us to new records again for the dow and the s p 500. 51 points, but i track for a record close. The s p 500 as well. The nasdaq has been the big leader with a more than 1 gain on the strength of tech heavy earnings. The s p 500 reached an intraday record over the course the day if you look at trajectory. We saw a record high not that 130. Ago, right around we will see if we see more strengthening into the close. As far as strength in earnings take a look here. Microsoft that is the big one contributing to gains in technology, up six point 5 after cloudbased revenue beat estimates. Performing best performing and the s p 500, a uniform maker whose numbers beat estimates, and intuitive surgical, the maker of the Da Vinci Surgical Robot its numbers beating estimates as more folks, more hospitals ordered robots. Vonnie some deals causing it to move around. Julie it looks like the big year deal is a must a done deal. In beth
Another busy day for earnings after the bell. Cvs and news corp. Will lead the charge. Well have analysis of all the numbers. Before we get to all of that, lets look at where we are in the markets right now. The markets have been whipsawed today by International Tensions. The dow down as much earlier in the session as 93 points. Right now were down about 75 so we are headed back towards the low, 16,368 is the level there. Nasdaq is off 15 points. S p 500 is off ten. Tyler, it is now down to 1,910. Joining our Closing Bell Exchange this hour, heather hughes, meg green, larry mcdonald, and our very own rick santelli. Welcome, one and all. Rick, id like to go back to something that you showed graphically. Might not work quite as well without your graphics. On power lunch, you looked at the performance of some bond charts versus the equity charts. Would you sum up what you were saying there . I will. As a matter of fact, were going to be showing those same charts right now as i talk. If yo