Off with what were calling the twin pillarsprosperity tech and bio tech. The s p tech bio sector. And bio tech breaking out, now up 22 , so do you stick with these groups of stocks how much higher can they go . Guy . I think you do. You stick with them for sure, but if youre asking would you rather i wasnt. Answer the question. Ten seconds in the show, youre coming at me. Felt like a would you rather to me im sor richl bio tech i think weve done a decent job. Said it needs to 300 steve has been talking about bluebird i think it was up 10 today, but all these names weve talked about in the immune other pi space, you saw it happen with gilead and kite. It open it is the flood gates for m a and a lot of these stocks valuation wise are still cheap not least of which amgen and celgene. It was a recent bid underneath the market. Bluebird was the next one. Juno as well so you see strength there. I think they both could. They both benefit from tax reform and they could have lack of inversions
Baum or our allies will be met with a massive military response, a response both effective and overwhelming. Maria President Trump takes aim at china over its trade ties with north korea appeared to follow up this morning. Global market actions look like this this morning. Tensions rising, futures indicate markets will open lower. Dow industrial down 50 points a quarter of a percent lower. In europe checking averages, checking averages come against acrosstheboard the board, dx and germany 40 right now. In asia overnight, the stocks took a cue from some volatility last week at the end of last week amid the uncertainty and north korea. The nikkei average down as was the kospi. Shanghai in china up a fraction. Hurricane irma, powerful category four storm. States of emergency already declared in the nfl now considering moving the Miami Dolphins opening game. The floodwaters with hot arriving. Houston Police Department honors one of its owner died during the storm. And into a cube on the ai
Lots to talk about in the markets. A lot of data coming out in the asiapacific. We are waiting for the trade numbers out of the philippines. Markets in manila are shut down on bad weather, but they will be coming out with trade data. We are getting exports coming through. Is your year on year increase in july. Expecting. T we were we are now looking at a drop of 3. 2 . We were expecting and improvement of 6. 5 . Lets wait until they do the math. We are expecting a 2. 4 billion deficit out of manila. To put this into context, it is one data point. Have a look at a broader term picture in manila, 2017 has been a special year, to say the least. Massive trade deficit out of manila. That comes down to the fact that the economy is improving. They are importing bigticket items into the country. From 2. 1 billion to 2. 4 billion. It is now at 2. 1 billion. It is a little bit less than the current the last reading in june. A massive deficit out of manila. Apart from that, there is obviously nor
Dominican republi turks caicos. Weather meteorologist Charlie Meese with us what is the latest. Category 3 with 115 mileanhour wind. It is possible it will strengthen a little bit as it moves northwest at 1 to miles an hour. The problem will not be the 155 mileanhour winds when it hit puerto rico but across hispaniola and Dominican Republic. You will have tremendous flooding. They are mountainous islands. They enhance rainfall with or graphic lift. When you have 10, 20, 25 inches of rain. Catastrophic flooding going on in puerto rico, likely to extend north as the storm movers north. Hispaniola, Dominican Republic will have to deal with the same thing. Wind will be Hurricane Force there but it will be the flooding that will be a big issue as it moves farther north and west. Through the turks caicos, nine to 12foot storm surge in the lower islands, that will be a big issue right along the coast. The good news, at this point, looks like a trough off the east coast in part due to jose, ar
And, asiapacific trade ministers concerned about rising protectionism, but no mention of it in their postsummit statement in hanoi. The start of the brandnew asian trading week. It is all about oil. We are fast approaching that meeting in vienna. The markets have pretty much priced and that ninemonth extension. Latest over the weekend, we are hearing that saudi arabia saying all opec producers are up for this extension. Take a look at this chart in terms of where Price Expectations are going. That front month the vti with the nearest expiration contract, converging at 50, so whether the news has 10 baked in or there is further upside when it comes to that oil price, even if we get that extension, and the flip side of that story is where u. S. Shale production goes from here, because the biggest opecion has not been producer sticking to their end of the bargain as opposed to whether their efforts are being undermined by increasing levels of u. S. Production. We have seen u. S. Inventori