Home turf. Betty hello and welcome to daybreak asia. I am betty liu at Bloomberg Global headquarters in new york. Been on thes u. N. Voting on these tougher sanctions against north korea, but not tough enough, right . Of the oil embargo falling far short of that that was talked about were discussed by north korea. Still, this is going to cut north korean exports by about 90 , and that is still going to have some bite on north korea. Haidi absolutely. Looking at these numbers, the sanctions cutting 55 of north korean death, diesel, and heavy fuel. Energy short of that embargo as well as the freeze on his assets that have been sough t. It is a little bit of a compromise because it was widespread expectation that the sanctions would not have gotten the vote of china and russia. Betty ahead of all of this news, which was widely expected, the market had a steady day a seller day. A record for the s p, with leadingls and techs the way. The dow higher by 260 points. The nasdaq also gaining by
Oil has come up, what, 30 . Were above 40 as we go into this. And its the bigger picture. It definitely has been a big increase here and certainly a risk premium on the table. We are a little bit lower today coming from the headlines that the iranians are not sending their oil minister. You need an accord and if theyre not sending their top guy that could be a problem. Having said that. Our exclusive survey finding that 56 of the people that responded think there is more than a 50 chance that some deal is on the table but the majority dont think we go that much higher from here. But most of our respondents think that that, in fact, was the bottom for oil prices. What can we expect in the second half . They said 40 to 50 brent and wti will finish the year and that is drirget from where a lot of the street view is now. People are talking about 50 to 60, 60 to 70. Some people even saying 85. Who is holding all cards here. Its saudi arabia most certainly because they have a bigger interest
Empire comes in ahead of expectations and well get Industrial Production in just a few minutes. Our roadmap begins with a close eye on dow 18k and what to expect from doha. Citigroup sharers are trading in the green, this after the Company Reported a better than expected quarter despite a decline in profits. And senator sanders going after it again with jeff immelt in a very heated debate in brooklyn last night. First up stocks looking to extend their winning streak. The dow ending within 74 points of 18,000. Meantime Oil Prices Falling this morning ahead of the meeting of the Top Producers in doha. And the chinese economy grew 6. 7 in q1. Thats exactly in line. Theyre starting to deliver on the governments numbers. The fact that they couldnt deliver the governments numbers is showing that theyve really got their act together. By the way, the state owned Companies Getting a little more leeway. They generate stuff they dont need. Oil, i think it was amazing to me that it kept ramping ri
Stress test on march 20th. That is breaking news were getting right now. Well hear more from banks on the stress tests on march 20th. That is the past doddfrank. Lets get more from the pits of cme. Andrew, do you think well have any surprises there. Absolutely not. One thing i keep an eye on cboe volatility index, known as the vix. The fear gauge saying there is not much fear in the market. There is always we have some concern. The fact of the matter the stock market wants to go one direction and that is higher. Im very close to selling a lot of positions but iicontinue to be long and continue to make money. Doddfrank, stress stress, were think that will do anything. I will watch activity in the bank stocks before that. Weve seen a lot of call activity in dfs, discover financial, in march. I dont think it will matter. The stock market continues higher. Andrew, more breaking news on bottom of your screen. Three fed Bank President s voted to increase the discount rate in january. Does th
Angle. The only Goldman Sachs angle here is like two days ago there was an issue with option markets from the outside in that case goldman. This feels once again this isnt an exchange problem, not a problem within the nasdaq. Sounds like something from outside coming in that they dont understand or cant gauge and that is going on. That is the only comparison i am making. There are so many market players. We have the centralized exchanges that are supposed to be responsible and a palpable. Everyone is feeding off of their data and going in, one big happy melting pot of a global marketplace. What is happening is a lot of stuff happening quickly and even the people in programming dont understand what it is and that is my only point. My point is tuesday was goldman, today we dont know who it is. It could come from anywhere, some kid in his basement. Cheryl i want to clarify the breaking news situation and make sure i clarify again theres a lot of speculation, do appreciate you weighing in