Faded across the european space. We started with some upside for european equities and we are closing out the session across the benchmark down a 10th of a percent. Never mind that you saw Material Impact from some of these policies coming through over the weekend in cities like beijing and shanghai with a tick up in home sales. Not enough to maintain momentum across the european space. We also saw yields on european debt taking higher. As you look to the restart of trade on tuesday after the labor day holiday, so downside of a 10th of a percent but a context that last week was the best week for u. S. Stocks since june. Eurodollar, 1. 0 seven, flat for the single currency and we continue to hear both sides of the spectrum on whether or not the European Central go further in its rate hiking trajectory. The next meeting and decision, september 14. Close to 89 a barrel on brent. Oil by the way is up since late june by about 22 . China of course a factor in terms of how you think about the
Products. It looks like you are not seeing much change on your screen there but it looks like oil is seeing a bit of a reaction. We are seeing a leg down in oil prices, a decline of 1 2 of 1 . It looks like the first flush reaction is down on that headline build. We will see if that is mitigated by the drawdown in the various types of inventory. Energy stocks are the best performers in the s p 500. Heres the energy index, which is. 11 Industry Groups in the s p, its the best performer. One of the things we have been watching with regards to oil prices is the socalled that could be approaching. The price of oil is in white here, then you have the 50 day moving average. Indicators. Mentum the last time you had the socalled golden cross, you saw oil rallying. Circling back here to stocks and what we have been seeing of the major averages, this selloff is continuing here today. Got a no help from energy stocks. There is a broad risk off environment sparked by chinese export data or early t
We have strong figures out of the u. K. Is deceptive to say that it is a sleepy august day, it is not. What i would suggest is that the various shops are staking out their autumn calls. There calls into 2017. Francine i think you are right. A lot of people are on holiday, but august is not sleepy. I agree 100 , we are never on holiday. Taylor japans exports have not fallen this much since 2009. 14 from july from a year ago. One reason is slowing Global Demand and the stronger japanese yen, its gained 20 making japanese products more expensive. Turkey has revealed how broad the crackdown was after last months attempted coup. The Prime Minister says 40,000 people were detained and 5000 are in custody. 80,000 turkish Government Employees were removed from duty. Germany says that the u. K. s future relationship with the European Union requires a custommade solution. Deputy foreign minister says that they will not be able to cherry pick the economic advantages. What is clear is the u. K. Ca
Michael mckee in london. We have a very busy week and we Start Talking about yields an Economic Indicators that disappointed. Michael we are starting to get ahead of the fed meeting on wednesday, the bank of japan on thursday. The bank of japan is a wildcard and it is having an impact on the market. Tom heard that vonnie quinn had been on assignment for several weeks and said he is not coming back until she returns. Nobody told him. She is back. Francine i thought he was getting caught up on game of thrones. I am sure he is also looking at jgbs. Isnie president obama pitching American Business today in germany when he spoke at a trade fair in hanover. So here we are proud to showcase americas commitment to innovation. You will see pioneering countries that are changing the way we live, work, learn, so this is another chance for me to tell everyone to come here and by made in america. The president also said Companies Looking to create jobs should set up in the u. S. The president is wr
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