Obstacles facing oil and gas and why the lock downs are a big deal but may not change much longer term. It is friday, october 16, and this is Worldwide Exchange. If i have it right, i think that is the black key and the song is 10 00 a. M. But were playing it at 5 00 welcome from yfr wherever in th world you are watching stock futures right now are in the green but lets be carefully here, they are basically flat. Dow futures are up 9 points, so in the green, yes, nasdaq up 22, but got a long i way to go the big money question on this bring is whether today will mark a rare four day losing streak for the nasdaq were down previous three sessions, although amazingly were still higher on the week outside of stocks, the big winner this week has been bitcoin. Thats right, up 4. 5 . Climbed earlier back above 11,500 bitcoin has been the winning asset class coming into a friday lets go around the world and it is looking like a nice session in europe as well. Lets ghets t get the trade, geoff c
Virgin australia tracks interest from indias largest by just budget carrier. Shery lets get you started with a quick check of how the markets are trading. We are seeing u. S. Futures under pressure, this after the regular session ended mixed. Markets pretty optimistic about reopening some parts of the u. S. Economy, but also a bit more cautious given that we have seen flareups around the world. The s p 500 finished unchanged. Health care led the gains, but financials weighed on the index. The nasdaq composite getting for the sixth consecutive session, outperforming again. The longest winning streak this year. Take a look at what oil is doing. Wti gaining ground, above 24 a barrel. This after it fell and erased earlier gains in the new york session. Tohave saudi arabias plan output, providing a boost but that was not sustained. We have opec given its Monthly Oil Market report on wednesday. Haidi in the u. S. , President Trump has responded to reports china is considering scrapping the p
Futures trading was halted yo ed overnight. If were down 7 , you halt for 15 minutes down 13 , you halt for another 15 minutes if down 20 , you halt the remainder of the day some people wonder how long we will be trading at the open. Yeah. Look, i think the problem is twofold no one thought oil was coming. Theres a very, very different approach by some to whats happening with the virus some people are saying not enough others are saying, listen, were making too much of it. Im in the distinct not enough camp i come back and i keep thinking about david tepper and what he said to me at the super bowl i dont know if we have that i think we do is the booth ready on that going back to midfebruary early february day before the super bowl i came back and have never been the same i know people have accused me of being fear mongering for weeks now. No, i think im realest mongering. Were trying to back into it, you have to try to figure it out. Ruined the environment of the setup right now. Whats
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
Lets have a look at what is going on with these markets. We would normally be looking at the nikkei, but tokyo is looking at the public holiday. There we go. Taiwan moving to the upside. Hang seng adding to some of the gains. Overall, we are seeing a mixed bag. Shanghai is lower. The asx 200 not having a good time. Lets have a look at the other Asset Classes which are perhaps on your radar here. Kicking things off with a look at gold, just down a fraction. Investors are sticking to their guns. We have seen it shifted to gold ever since the middle east tensions did come to the fore with the downing of that jet and the killing of general soleimani as well. 1556. S just at the moment 98. X crude, oil holding onto the biggest weekly drop we have seen since july. Easing tensions regarding whats going on in the middle east. On top of that, the pound is a little bit lower. There is the possibility of a rate cut. The bank of england policy maker showing that there are no signs of the economy i