Coming up in a few minutes. First, we have julie hyman 30 minutes into the trading day. Stocks climbing after smaller clients yesterday, with all three major averages reaching intraday milestones, in part because of consumer stocks and the news we got from individual consumer companies, and also, we have continued to see a rally week after week after week. We take a look at the bloomberg terminal, you look at the effect that dividends has had on the ongoing rally that we have seen for the s p 500. You are looking at the s p 500 in blue here. Is climbing and white. If you look at the total return index, including reinvested dividends can you see how much that magnifies the gains, particularly in recent years, and as Companies Continue to raise their dividends. Not only has the absolute price return worked out well for investors, but also, of course, the dividends have had a big effect. Getting to the consumer names from one of the biggest of the big reporting news today, that is walmart
Barcelona in moments. A lot of anticipation in the chamber. Madrid is ready to take action. The Spanish National police force set to be ready to arrest Carles Puigdemont if he declares unilateral independence. Maria is in barcelona with the latest. Lets get to you immediately and asked if tensions are rising in the streets in barcelona, or are . Eople just curious tensions rising and a show of force by the catalonia police. They have lots of the street and people cannot get in and out. Against thegroup unilateral declaration of independence and another one telling him to do it. It shows you how polarizing the issue has become. Carles puigdemont has arrived and is inside parliament and minutes away from delivering what could be a unilateral declaration of independence. We are not sure of the wording, not sure of the format that may take place. We are not sure if the opposition will get a say. They have a majority in the Catalonia Parliament and if they want to enact this law that could
1. 1783 the efo has been hitting record highs for the past three months. So maybe this pullback was to be expected the german august efo Expectations Index came nat 107. 9, with a forecast of 106. 8. T lets get reaction from Nicholas Brooks the German Economy seems to be firing on all cylinders. Are you worrying about a dip in the efo index . Not at all. Weve seen strong data coming out of germany and europe as a whole. So one data point these numbers are volatile its off maybe shortterm traders will look at this but in the medium term, it means nothing. Especially since the pmi data out of germany was strong. We saw that jump in the manufacturing pmi and across the board in europe we saw after a bit of leveling off last month, we saw a comeback. That makes a very clear picture, very good justification for the ecb to taper, doesnt it absolutely. Thats what they need. The ecb needs to taper for technical reasons as well as economic reasons technical because of the scarcity issues . That
First, markets close in two hours. Julie hyman has been watching the movement. Julie we saw a pullback from those record levels yesterday. , sort ofower volume feels like a sideways trading pattern. The nasdaq is down. 5 . Volume of 14 versus the 20 day average. You see the other groups seeing defensiveume groups seeing that pullback in particular. What is putting pressure on the s p 500 . It has a lot to do with earnings. Netflix beating estimates, but subscriber growth trailed estimates. Philip morrison seeing the pinch and the stronger dollar microsoft reports its numbers after the bell. Point wise committees are the three biggest drags. In terms of point winners, mitigating the drop we are seeing today, we have johnson and johnson after that beat estimates, raised its fullyear forecast. Because arising, linked to whats going on with mcdonalds japan for the company is selling pokemon toys. Facebook shares trading a bit higher as well. That is the balancing act today. Right now, the
Francine the clot in london, tom keene in new york. Francine lacqua in london, tom keene in new york. This is a pretty punchy move because we have a new central bank governor. I do not know whether you will have a rupee board that it is extending gains. It will be interesting to see the global disinflation and deflation. This will be a back story at the imf meetings coming up today. Francine this is my repeat chart. It is going to be one of the stories we will be following very closely. This is the date date chart for the rupee. 6. 475, gainingt 0. 5 . More on that rate cut but lets get to the bloomberg first word news. Taylor theresa may wants to change the relationship between the government and londons Financial Services industry. According to senior officials see will just she will refuse to give priority to banks after the u. K. Leaves the European Union. The have dismissed demands for an interim deal. Things have gone from bad to worse in u. S. Russia relations. The Obama Adminis