Good morning, warm welcome to Worldwide Exchange on cnbc. Im wilfred frost coming to you live from our studios in london today. Lets have a quick look in on futures this morning coming off a day of slight declines yesterday the dow down 0. 2 . The s p down 0. 3 . It comes off a couple of strong days today were pointing higher. 91 points or so for the dow. Nasdaq up 22 s p up 8 points. Well have more on the markets in a moment. First breaking news out of washington the Senate Passing a landmark tax reform bill early this morning. The measure heads back to the house for a final vote President Trump is expected to sign the bill into law later today. Lets get straight to cnbcs ylan mui with the latest from washington good morning good morning. Victory in the senate and a doover in the House Republicans in the senate cleared the tax bill just about four hours ago the final vote was 5148 no democrats voted for it. There were no gop defections Majority Leader Mitch Mcconnell characterized the
Decline by a less than a percent for the hang seng and shanghai down a quarter percentage point. In early trading in europe, there are red arrows across the board. The dax is down by a tenth of a percent. Same thing with the ftse cac is down by slightly more than that. Declines also in italy and spain. Looking at crude oil prices, you will see that crude oil is up about 18 cents to 57. 74 lets look at the tenyear yesterday the tenyear topping 2. 4 well look at that in a bit. Here it comes. Yep 2. 455 . Slightly lower than yesterday, but still above 2. 4 this is past the point that Rick Santelli told us to watch for a breakout i read that all of the money not spent on its not true, but all the money not spent on taxes is going to Debt Services as rates go up yeah. Some of it will be. As rates go up, yeah. I was thinking about that this morning as they talk about the government funding needed for the projects i think it was the new york city subway i think what happens as Interest Rates
The s p 500 is on pace for its best year since 2013 so investors seem to be on the sidelines. Where we have a bigger move is the bloomberg commodity index. The longest such winning streak since 2005. Natural gas up nearly 7 on the day. Of 2016,since october the frigid weather here in the northeast one of the drivers plus tight inventories for natural gas. Copper also higher for a 16th day in a row. Behind that, Strong Demand out of china, this helping some of the related stocks. Some real strength here for the bloomberg commodity index. Where we are seeing less strength, bitcoin. A very volatile ride, recently. The 7. 5 , taking some of related stock in companies down with it. And companies down with it. Time will tell but if we take a look at the technicals on bitcoin and hop into the bloomberg, this is a sixmonth chart and we have bitcoin, an extraordinary ride higher despite recent volatility. See in the recent volatility, the congestion. If the buyers proved to be stronger, it mean
After south korea said it would shut down at least some stopocurrency exchanges to to stamp out speculation. Risk and regulation, cryptocurrencies had better watch out if the South Koreans or any benchmark to take guidance from markets, one last hurrah for the bond market a flat. Asian equities are steaming toward record highs. Is bloomberg Commodity Index at a sixweek high. Sincequities the best 2013. The momentum is there but could Central Banks unseat the momentum in equity markets . That is the mood for the next hour. Could the tax change dont forget the rebalancing in china. The consumer is king and queen in china. Hurrah, or is it . 50 basis in terms of the spread. Yesterday. 2. 41 about the 2 level. What does it mean for the bond market . The bid toou saw cover ratio at the lowest since june. The bloomberg dollar index, the dollar has not had it easy this year. We are hitting a threeweek low on the bloomberg dollar index. The biggest slide since we started collating data in 2004
Fighting the Islamic State has left most of northern and western iraq in ruins and notetakers ready to pay for the rebuilding efforts. Baghdad says at least 100 nationwide,eeded but local leaders and muscle say that is needed to repair their city alone. Iraq hopes saudi arabia, iran, and other gulf countries will step up. The u. S. Has told the rocket will not pay for a massive reconstruction drive. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am nabila ahmed. This is bloomberg. Julie live from bloombergs World Headquarters in new york, i am julie hyman. Joe i am joe weisenthal. Scarlet fu and julia chatterley are off today. Julie stocks are higher this afternoon. The dollar touched its lowest level this month. Joe the question is, whatd you miss . Julie who is afraid of amazon . Apparently everyone. We have a chart that shows you what happened attack sector in 2017. Sticking with tech, uber are looking to sell a sizable s