Concerned. German september ifo, 100. 7. The current condition is 111. 4. The expectation is 104. 2. So not quite as a small jump in ifo. And they said the august Business Climate was revised to 107. 6. So not quite as big a jump as we might have expected. Lets get Immediate Reaction to that. Miles bradshaw is Portfolio Manager at pimco and joins us right now. Miles, a small bones in ifo. Whats your assessment of what that means and of the German Economy . I think it underwrites the other data that suggests the european economy is slowly recovering. Germany is leading the charge. You know, the ifo on has been stronger, the pmis have been stronger. But its a subdued recovery and its a recovery that isnt going to cause the ecb to be tightening policy anytime soon. Whats more important in terms of the ifo is the expectations data in terms of having an assessment about where gdp is going to be going forward. I think that was a bit more than expected. But i think the key theme is its a very
Grab that must be stopped. And recognize anyone . Yeah, thats lois lerner back in 20 so. What she said on that tape may explain the entire irs targeting can sk scandal. Well let you listen and decide for yourself. All those stories and much more coming up on the kudlow report beginning right now. Good evening, everyone. Im larry kudlow. This is the kudlow report. First up, lets look at positive signs in the Global Economy. Initial jobless data out today. Lowest level since before the recession. Mortgage delinquencies, five year low. Even traces of growth abroad. So my question is a simple one. Are we underestimating the Global Economy . Maybe were all too pessimistic. Or maybe not. Here from the cme is rick santelli, also with us joe la voin i cant and jared bernstein. Rick santelli, such a pleasure to have you back on the show. I go to you first. Rick, your jobless claims have come down, lowest since november 07. Food prices are actually falling in a new report today. Thats great for
Joins the chorus of Central Bank Officials calling for the eventual end of the feds massive Bond Buying Program. If things go as the committee expected, i would expect us to dial back. Well have to see what the data and the feeling is between now and the time we next meet in september. All right. Warm welcome to you. The last Worldwide Exchange of the week. And we kick off with the iea. Oil, latest oil report. Wti futures narrowing the gap with brent amid surging u. S. Refining runs and crude draws. They say Global Oil Demand will accelerate in 2014 to 1. 1 Million Barrels a day. That compares with. 9 in 2014. The forecast of demand growth been trimmed slightly from previous estimates. Global supply, they think will also increase just a little bit, led by higher nonopec production, dropped stronger in north america expected to lift its second half total average of 1. 4 Million Barrels a day. Opec crude supplies edged down in july, global refinery crude demand surging in june. It is by
And china takes another blow with six more firms fined more from 100 million for price fixing. All right, warm welcome to the start of Worldwide Exchange. Stocks in the red today. Had the selloff in the states last night. Advancers outpacing decliners 72. The ftse yesterday down about 15 points. Then saw the dow off 93 points, s p down 9, nikkei below 40,000 this morning. This is where we stand with european, just over an hour into the session at the moment. And we pull it up. Were having a little technical issues right now. Dont know whats going on. Right. There we go. Good. Ftse 100 is down half of one point. Ftse mib up a quarter. The ibex is down twothirds. Bond market rates, keeping our eyes on gilts. Inflationary report due out 10 30 london time, half an hour from now. Maybe more dovish, mr. Carney, than some expect. We had a raft of really good data out of the uk, of course. And it is going to be about is he going to issue Forward Guidance. Gilt yields lower because of stock wea
Hold. Deutsche telekom betting big on the u. S. Thanks to Stronger Customer growth in the market. The group is cutting its cash flow target as a result. Investors are buying into the turn around. Hi, everybody. Good morning. Very glad that youre with us. We have a full two hours of Worldwide Exchange for you. Im very pleased to be here for the next two hours alongside with a whole bunch of good guests. Just before we get to the Business Aspect of todays session, i just want to tell you about some flashes that are coming through on the wires, where essentially were seeing that an imminent quake warning has been issued for japan. Theyre sourcing nhk. The quake is centered in western japan. Again, according to those sources. Well continue to keep you updated on this story as we get the details through. But on to the show, well also be taking the pulse of the insurance sector as earnings at the uks viva beat forecasts sending shares sharply higher. Well bring you analysis on that at 10 20