Morning. Education secretary rick perry calling it a deliberate attack on the Global Economy. Plus oxycontin maker, pharma filing for bankruptcy this morning. First up, though, a series of attacks on two of the Worlds Largest Oil Facilities in the news the u. S. Is rejecting that notion saying the scope and the precision of the attack suggests the launch was made by the houthis but, in fact, originated by iran. Iran calling the claims baseless and unacceptable guys, weve been talking all year long about what it could take to produce a true supply shock. I think theyll come back 5. 7 Million Barrels. Look theres a temporary inability to get permian oil. You can only ship so much. You have one harbor who can handle it, two others. Corpus christi not yet i guess what im saying it cant. Were pumping too much and it does remind you if we had even more pipelines, we could just turn the spigot on its not the Strategic Petroleum reserve. Its the permian. There are a lot of key questions. One,
Investors say goodbye to hellofresh which plunges 40 after scrapping the midterm guidance sending shares to the fiveyear low. P and vivendi splits with the media giant after failing to update on the spinoff plans saying it is keeping options open. And u. S. President joe biden lashes out at donald trump in the fiery state of the Union Address and calling on congress to stand up to russia. My message is simple. We will not walk away. We will not bow down. Fr certainly sounds like fir in the belly of President Biden in that state of the Union Address. Not too much fire with the overall markets here in europe if one was to look at the movements. It is just managing to inch higher. It is around the flat line. In the nuance within the stocks is significant to look at here because we have a big movement when it comes to a lot of the stock counters. Ecb has been a key factor to the market movement. Take a look at what has happened from there. The june rate cut is the potential. Madame lagarde
The rain since it began, 175 millimetres at the moment and still very wet towards the north of wales. You get a sense of the misery of it all from these pictures sent in by oui all from these pictures sent in by our weather watchers. The sun not shining in keswick, yet anyway. Underneath that cloud that is the sort of thing you would run into. But behind that weather front no complaints i suspect from the far north of scotland. There will be some showers around through the afternoon and into the evening. A similar prospect in Northern Ireland. Brighter skies eventually getting in towards the cumbria area as this weather front begins to ease further south and east. But the wind becoming more extensive. And noticeable breeze as well and you may have had some rain in the south east and east anglia but i suspect the rain will come after dark from this weather front. And as that moves away and the sky is clear, we still keep some trees. Quite a cool night to come especially in the countrysi
Now the markets, after session lows down across the board, 1. 5 . The falling price of oil is bringing down energy stock. 1. 4 . P 500 is down the nasdaq is down 1. 6 . We did get good u. S. Retail sales data and Consumer Sentiment. As well as lower unemployment numbers. That is not to turn this around. For every one stock of, 8 stocks are down. For the week on this friday, the worst performance since november 13, we are down by 3. 5 and 70 points. The index is going 20 six sessions without back to back games. The record is 28 days. That was set in 1970 him and he hit it in april of 1994 and again this march. Two more days and we will tie it again. Three days, and it will be a new record. Oil, a lot of superlatives in the market. Nymex crude is down 2. 9 . It is down for the sixth day in a row. This is its longest losing streak since march. It is the lowest since february of 2009. Natural gas is falling, it had broken below the two dollar mark, and it has risen above that at two dollar
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