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Sonali welcome to bloomberg markets. Lets look at the markets quickly. We have a lot of red on the screen. We have the s p 500 now down about one half of 1 . The nasdaq 100 is seeing bigger can kleins. The russell 2000 even more than that. Its now down about 1. 5 on the day, quickening its losses and thats on the back of higher yields. The twoyear yield just flying higher. Its above 4. 67 on the day. Thats a three basis point move. You have to remember how far weve come. We will dive into the Economic Data we had this morning that is driving the yields higher. Michael mckee joins us now to bring us up mike mike to date. This is a nerd indicator. Business inventories are just out at the moment. Its not a really good number. 0. 0 after a 0. 3 increase the month before. That is down from 0. 4 . It suggests the u. S. Is not building inventories as much as people might have thought. There was a feeling that because gdp has shown invento ....
Here next week. And this morning millions of people on the west coast are bracing for a onceinalifetime storm, hurricane hilary bearing down as we speak, the first tropical system there in nearly a century. Hilary has already turned deadly in mexico dropping heavy rain, washing out roads, triggering flash flooding, and now new warnings this morning and new concerns about all the water this storm is set to drop on bonedry Southern California and whether that region can handle it. Well have the latest in a live report and your forecast just ahead. Plus, our quugs sunday focus on the hit movie the blind side. A feelgood movie taking an ugly turn. Then our sunday spotlight on the Island Community off the coast of maryland at risk of disappearing under water just a few decades from now and the people who live there and who are moving there who say they dont plan to go anywh ....
Sprint. Rounding our sprint. And rounding off our panel brilliant Champion Panel is the brilliant champion breed commentator breed political commentator emma webb, whos here to ensure these beasts stay on track and clear those hurdles without so much as a hoot out of line. And trust me, she knows how to crack the whip and keep the race running without false starts. Without any false starts. All right, hold on to your hats. Its going to be one heck of a gallop. And with a line up like this, who needs the grand national as ever . Send your views and post your comments by visiting gb news. Com for accuracy, albie , what have you accuracy, albie, what have you got . First of all, well, do we want meghan and harry to come back to the United Kingdom . I might after the latest Climate Change ruling, we need to leave the echr ri ....
Anna welcome to the program. This is bloomberg daybreak europe. Manus is in dubai. A new headline, we will alert you to that before we jump into the markets. The Weinstein Company has filed for bankruptcy after sale collapses. Lets move to what has been happening in the asian equity session. Futures up by. 8 , the dollar index down by. 3 . Were in limbo waiting for jay powell to speak. He spaced tomorrow and on thursday. Euro, and pound moving stronger against the retreat in the dollar. As to question jay powell, we get our first real market introduction to him in this current role. What we have said about wages, asset prices, and where janet yellen has taken the fed. Manus yeah. And on that whole concept, what will you get for mr. Powell . Most say markets will simply yawn, but have a look at this. The bond market may not yawn. A stronger yen is helping the bond market this morning. This is too bearish, too far. Bond yields ha ....