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Bloomberg daybreak europe. From hearing the city of london. Im anna edwards. Lets start by talking about oil. Its been very topical in the last 24 hours. Brent dropping below 45 of arrow, now in bear market territory. What does it do to all the Central Banks . Oilstocks are reliant on revenue. Lets talk about where we been on the inventory story. Too much oil seems to be the basic headline. We are stuck in his air market. Crude inventories slid last week , and thats what you see in the blue at the far side of this chart. But inventories remain above their fiveyear average. 100 Million Barrels above the fiveyear average and u. S. Production is at its highest level since 2015. Opec is aware of this, according to our grant. Consensus is difficult. Radar and at the risk you will see that it looks a little strange if youre expecting the oil story to be rid large across markets rig ....
Join us to explain a little bit later. Thats some real money. Yeah. Lets start with the jobs report and the latest out of washington. Another busy day there. Steve lease man is there at cnbc headquarters and eamon javers is at the white house. The president s team taking strong for the 235,000 jobs added in february even though it came just a month into the trump presidency. Reporter i think it was a perfect number. Right exactly where it needed to be. Our jobs plan and our Jobs Creation and bringing jobs back to america is going exactly the way wed like it to go. When i was on a month ago we talked about bringing jobs back. I think this number reaffirms everything that were trying to do. No matter who was responsible, it was a very positive report. Unemployment falling to 4. 7 and it was helped by some temporary factors, for example, warmer weather but showing good underlying strength and payrolls. Heres where the jobs were, const ....
Big today gain and as you say, dont fear the fed, even in the face of this perception that the fed will potentially be more aggressive. All three averages hovering near their highs of the session. Been talking lately about anniversaries of record for the major averages and we are approaching the anniversary of the doubt. It was at a record last may 27 and as you can see, distill trading lower by 1. 7 . But since last friday, we have embarked on a significant rally, to thate getting closer record level. What would it have to do to get to that level by friday . Lets look at the last week of trading. We have seen the 360 point gain for the dow. It would have to go up by the same again to regain that record status. Part of what has power to be stocks generally higher has been the financial group, which has seen this big increase here. We have seen financials move higher along with bond yields. Financials still the second worstperforming group year to date, so there is a rotation factor. Ne ....
Korea. In early trading in europe at this hour, youll see green arrows as well with the biggest gainer among the major markets. The cac in france is up by a third of a percent. And wti crude is up by 1. 5 to 43. 68. Back to the top story, another explosion near a transit station in elizabeth, new jersey, after a backpack that appeared to contain pipe bombs detonated. The fbi is questioning how five people that were apprehended on the verazano bridge last night. Morgan brennan is joining us from chelsea with more. Good morning. Reporter good morning. A terrorfilled weekend here in manhattan as well as across the river in new jersey. Now all the details still very much unfolding. But heres what we know so far. Just hours ago a backpack containing as many as five pipe bombs detonated after Police Responded to a call about a suspicious package in a garbage can near the elizabeth, new jersey, train station. One of the bombs exploded ....