Market meltdown. Hang on, everyone, this is the final hour of trade. Good afternoon. Lets have a look at whats driving the action the lack of a Production Cut deal from opec coupled with a saudi price cut sending prices tumbling down 17 on the day alone. Coronavirus fears remain front and center as global cases top 111,000 and italy locks down a quarter of its population. And the bull market chaos rages on as yields on the tenyear at a low of 0. 31 and remain at the moment below 0. 5 . Joining us for the full first hour of the show, lindsey bell from ally invest they have 7. 85 billion in total customer assets. Shes here along with our team of reporters to break down this massive market sell off. Bob pisani is on the floor of the change Brian Sullivan covering the Oil Price Collapse mike is here to look in the the market mike holland ond transports. Well get to all our reporters the dow is down 7. 25 . B bob. Important thing is the Circuit Breakers hit this morning. Down 7 . Halted for
Yuan strengthening, below seven for the first time in a couple of months. I thought i would point out, uber down 7 even though analysts were quite happy with the results. Guy european stocks ticking higher on the back of that ism data out of the United States. We are now at 404 on the stock 600. The euro is trading a little softer. Interesting to see how far european equities have come. The South African rand continuing to make gains. Vonnie and shanghai, president xis intake president xi reaffirming that his country would open itself up to trade even further. Pres. Xi in order to boost growth at home and create more chinaor global growth, will give greater importance to import. We will continue to lower tariffs and institutional transaction costs. Vonnie we are joined now by bloombergs selina wang in shanghai. Who was xi addressing with this speech . Heard, xi isu reiterating his commitment to reform and opening the economy. You didnt even hear him directly address the United States o
Living in thats when our viewers can identify with the story. Big stories generate thousands of headlines with different angles from different perspectives on the sun just long standoff with International Borders is finally over separate the spin from the facts the misinformation from the journalism protesters complain about the under reported of Police Violence the sensationalizing of the demonstrations with the listening post on aljazeera. We understand the differences. And the similarities of cultures across the world so no matter how you take it aljazeera will bring you the news and Current Events that matter to you aljazeera. Welcome back youre watching aljazeera time to read i had lines the theo piers army chief general set out in my column has died after being shots comes after a coup attempt in and out of state the u. S. President says the only stop strikes against iran for now gone from warns military action is still an option he also plans to impose additional sanctions again
Good morning welcome to Worldwide Exchange. Im wilfred frost. Lets get to the markets quickly. We are higher in the premarket 16 points or so on the dow about 10 or 11 points on the nasdaq s p up 2 yesterday we did see the s p and nasdaq up about 0. 1 the dow led the charge it was up about 0. 3 in terms of trade in europe, broadly mixed. Asia is first. Sorry. Strong seconds ssion in asia. No real data or catalyst, but we are nicely higher. 1. 9 for hong kong european trade not as impressive its a mixed session its improved, as you can see in the last 20 minutes or so. The dax ended higher yesterday despite Angela Merkel saying she prefers fresh elections to governing as a minority leader, which feels like a gamble. The tax is higher today. The markets in general shrugging off the german Political Developments of the past couple of days. Back to the top story. The u. S. Justice department filing a lawsuit challenging at ts proposed acquisition of time warner. Leslie picker has the detai
On wall street, the dow closed at a record. Investors focus was on washington and reports that republican cd a tentative agreen a tax bill. At the Federal Reserve, policymakers felt confident enough in the economy to raise Interest Rates again and sharply lift their outlook for growth. The Dow Jones Industrial av rose 80 points to 24,585, an alltime high. It had been up triple digits for most of the day. The nasdaq gained 13 and the s p 500 lost some steam into the close, falling one point. Lets start tonight with that big tax bill which does appear to be nearing the finish line. Republican leaders have made some changes, reaching a basic agreement on a final proposal that sets up a possible final vote next week. Ylan mui has our r reporter republican lawmakers presented their tax plan to President Trump at the white house during lunch today. And the centerpiece of that proposal is a 21 corporate rate. Thats a little bi highe than the red line of 20 that the president had previously dr