Recordin recoiling. Let us know what you think of our top stories. Follow me on twitter at rishaadtv, dont forget to use trendingbusiness as well. , a lot ofl volatility. It has been a whipsaw session. Lets start off with equity markets. The msci asiapacific into negative territory. We are seeing some of these utilitiesil, gas, and starting to drag on the overall picture. Taiwan, singapore, and malaysia joining the fray. Times at a 10th of 1 at the open. Kiwi stocks hanging onto gains, off session highs. Australia extending losses. Energy and materials names dragging things down. These oscillations in the yen playing on exporters, a general risk off sentiment suggesting , we aret earlier bounce now seeing people selling on the news. Saying that we could just be getting a dose of reality, causing fees skittishness we are seeing. In terms of the currencies we are watching, the yen sitting at 105. 06. We are starting to strengthen as we speak. Early on, we had it almost breaking through 1
This is a snapshot of where we stand now, the dow up by 49 points. The s p 500 up by. 3 . The nasdaq is the least of the gainers, up by. 1 . Let me show you what is happening in terms of volume. For most of the industry sectors, volume is lower against the 20day moving average. Anything below the flat line againstnegative volume the 20day moving average. We can see materials is the biggest fall. Energy, on the flip side, is the highest in terms of 20day volume. The only other positive is industrials. Lets also switch over to what imapppening in the function. 10ing a look at the s ps sectors, fairly broad rally. Energy, telecom, Information Technology of the most. Materials down the most, only. 2 , but that is on falling commodity prices. Consumer discretionary and health care down similarly. Take a look at what is happening with energy. The Biggest Energy risers. This is in large part because of what is happening with natural gas, rising because of record heat happening in the u. S. We
Lets go straight to japan, where we are adjusting the rep up between the meeting of shinzo abe and the boj governor. This is the third meeting ever since we had the brexit vote. The yen went crazy, touching 99 usually volatile session. This is what we are getting so far between the Prime Minister and the bank of japan. The bank of japan can provide liquidity if needed. They can add funds to the market if necessary. Trying to, reassure saying that japanese banks have known problems with funding at the moment. Corona explaining the funding process at the meeting. Abe coming out earlier, saying that the finance minister must continue to pay careful attention to the market. They have been discussing the brexit, what potential issues may arise. He also says he sees no problem with raising funds, keeping liquidity ample in this market. Not just in japan, but since the vote happened on friday. It has been a paramount concern for officials. We are looking at reaction when it comes to the yen.
Coming off the session highs the buy a little bit but s p and nasdaq up, a lot of it i want towith show you whats happening across the board with the s p, energy now the number one leader of by 1. 4 . Industrials and Consumer Discretionary of 1. 3 percent or so. Generally its a broad rally, utilities negative on the other side of the flatlined. Canrials of by 1 , and you see that generally were seeing a rally of materials as well. Industrial metals rising across the board aside from gold. At its highest in about a week. Lets look at whats happening with wti crude and nymex crude, pushing the bloomberg commodities index up. Up by about 2. 6 , also its highest in a week. You would expect it would be a risk on environment, and it is when you look at whats happening in terms of the safe havens. Gold futures coming down about. 3 in the u. S. 10 year yield is up by six basis points. Last week it had been as low as 1. 58 or so and its now up to 1. 67 , the highest in about a month. Vonnie wat
Group rising on the stoxx 600. Helped in no small part by yesterdays fed meeting. Still, the stoxx 600 is a low the close of june the 20th. This is the big piece of macro data. Business confidence sinking to a four and a half year low in the days after britain voting to leave the eu. Sliding to six in the wake of the record random referendum. The lowest level since december of 2001. The height of the european sovereign debt crisis. This gauge fell to 33 at the height of the financial crisis. The first negative reading since july 2012. Lets focus on u. K. Property. Have u. K. Property funds frozen withdrawals this week after four more joined the list. To dump realking Estate Holdings in the aftermath of the brexit vote. These are how Asset Managers and companies have fared. Declines of 8 to 23 . Be beingortugal might hit by eu sanctions. An unprecedented step to break budget deficit guidelines. This would be to enforce the rules to prevent another debt crisis. According to the european