Airport. Only six people survived a crash. The Un Security Council voted to tighten sanctions in response to the sixthlargest nuclear test in december. Diplomats calling it a significant step forward. Currencyions target revenues by placing a cap on coal exports cutting them by at least 62 . Global news way four hours a day powered by. 200 journal journalists and analysts. Live from bloomberg World Headquarters in new york, i am scarlet fu. Joe 30 minutes from trading. The question is, what did you miss . Crude oil trading the highest and nine months after opec oils, the cartels first output in eight years. In hollywood, and expected to be named Donald Trumps treasury secretary, without any government experience. Supermarkets are facing what could be called a price war. E dig into food deflation the numbers dont lie. Lets get it started as we had close. The Abigail Doolittle is standing by. Abigail mixed trading heading to the close. Still on pace for a record close. Surprisingly, what
Trading day and Abigail Doolittle has a sideways day. Abigail not a lot happening. We have the dow and s p 500 day sickly flat. Biotech shares are weighing us down. This puts the dow on pace for yet another record close. Interesting here is that we did have a nice rally in asia and europe to some degree. Ahead of the ecb decision tomorrow with the hope that the ecb will extend the bond buying program. That rally is not extending here at this time. Another reason for Global Investors to be optimistic. Will be going to the bloomberg, this is a chart of analysts bringing up their profit forecasts. We can see all the way to the side that analysts are bringing up the profit forecast on the goals basis to a level not seen since 2011. This is very positive and stocks at the end of the day trade on profit outlook so perhaps this that investorsse arent sharing . When we take a look at the euro ahead of the ecb meeting, it might not support the idea that the ecb and ecb president will expend the
Worrisome development for the oil market. New discoveries of oil at their lowest level in 70 years and explorers are slashing their budgets. Does this mean a supply shortfall is coming . Markets close in about two hours. U. S. Majors are strayeding solidly in the red right now. We see the dow down about half a percent. E s p 500 down about 3 10 of a percent. The nasdaq down as well. We go to the nasdaq in manhattan. Hi there, david. You do have the nasdaq trading down. In fact, just hitting near session lows moments ago, starting to recover. Well see how the next two hours do play out. As for what is dragging today, the worst percentage performer is g3 an apparel and accessory maker. The stock is plunging after the company just had a horrible second quarter. They also guided down, as for the miss in the second quarter, they missed Sales Estimates by 9 . They guided Third Quarter earnings below the street by as much as 28 . Some investors are probably not too surprised. Theres a Short I
From the eu, saying it never had , sweetheart deal in ireland the effective rate. 005 . You can follow me on twitter, and dont forget to include trendingbusiness. Japanese stocks outperforming the region. Malaysia closed for a public holiday. Singapore and taiwan coming online. Latest here. We are seeing that solid session coming through , so aapan, up by. 9 end august. Tive i we did have production figures from japan missing the mark, down 3. 8 . It doesnt seem to have stopped the buyers. Taiwan flat, some downward pressure in singapore. Korea, some downward pressure, off by. 1 . We had a solid session tuesday come through from the kospi as the won rallied against the dollar. Industrial production out of south korea as well, up by 1. 6 july year on year. Australia hurt by the downturn in commodities. Quite a bit of weakness from those energy players. The gold space also being sold off. New zealand down by a 10th of 1 gain. Ersing that earlier it we will be watching out for those banki
Pressure on financially strapped companies. How much would that be offset by the benefits of Lower Energy Prices to consumers . The dollar was weighing on manufacturing, but how long will hat last . There was concern about the difficult to read outlook for the chinese economy and what that might mean down the road for the u. S. And Financial Markets were the biggest concern of all. Almost all participants saw financial conditions sought tighter financial conditions pushing up market volatility. Voting members expressed a range of views about what the impact of that might be. A number of participants noting that the large magnitude of changes in the Financial Market conditions were difficult to reconcile with the incoming information on u. S. Economic development. The economy was stronger than the markets were suggesting. As we know, they punted, holding rates as they were in declining to provide a balance of risks assessment. Members generally agreed, the minutes state, that it was not