, i still bit coin see a Financial Stability risks. Often, risks threatening Financial Stability rise when there is exposure of the Banking System to fluctuating asset valuations. See anyally dont significant exposure of our Core Financial institutions to threats from bit coin, if its value were to fluctuate. See a threat to our Core Financial institutions. Undoubtedly there are individuals who could lose a lot of money if bit coin were to fall in price, but i really dont see that as creating a fullblown Financial Stability risk. Michael mckee, last question. I suppose i should be asking you a valedictory question, but i dont you can topple you have already said, some of a do a couple of cleanup questions. President trump all you were speaking said he thinks his tax plan will produce 4 growth. Do you think that is possible . Second, do you think that there is any fed blame or complicity in the flattening of the yield curve and do you worry that their might be some sort of policy mistak
We got to look at the markets, 30 minutes into the friday session, one of the last of the year. Julie hyman is here and we are higher. Records again, at least on a closing basis, for the dow and the s p. A nasdaq not quite getting there. A list across the board for the three major averages. If we break it down and look at individual components, we will see strength as well. In retail, for example, both on the supermarket side as well as on the Specialty Retail side, we are seeing strength today. Costcosupermarket side, leading gains after the company came out with earnings that beat estimates. The Company Reported another quarter of increasing comparablestore sales, or i should say another month, 14 months in a row that costco has seen games in that area. In addition, membership rates are holding steady, which is better than cosco had anticipated. It is higher. Walmart and target are also getting something of a lift. Outside of supermarkets, looking at Specialty Retail, were looking at
The best week since december 2016. Some of that bullish action is continuing. All time highs. Very small gains. A lack of conviction. Investors taking a breather ahead of earnings season. They had a technical analysis, this is 8605. She presented a version of this chart, and she believes we will see consolidation. This is the s p 500 over the last year. Area sheve a cloud likes to use. We will see the s p 500 pull back down to that. That is less likely and she believes the gains for 2018 will be smaller than 2017. Time will tell but that is an interesting view. Lets take a look at a five day chart. Earlier we were looking at the first declines in five days. In the way. Up 2. 7 . Last week was the best since the end of 2016. The gain may be small but it is a broadbased gain, small rally. We see most of the sectors are higher. Such as utilities in real estate , information technology. Health care is significantly lower. The big drag is the biotech sector. Lets look at the names that are
Freely u. N. Trade more and u. N. Falls against the dollar. An interesting shift in the market. David they dont have to worry out it like they did. Breaking news. Continental is in talks with advisers saying it is going to explore a possible holding structure. This could be the biggest overhaul ever for this very large Auto Component maker. Tos appears to be an attempt break it up so the individual parts of the company could trade separately. They be some of the tire manufacturer could rise on the news and it is tied perhaps to the move to Autonomous Vehicles and the electric vehicles. Ag will be exploring a holding structure. Alix those are the super fancy tires. David they are very nice tires. Time for the morning brief. At 10 00 this morning Minneapolis Federal reserve chair Neel Kashkari ways in from minnesota. President trump meets with bipartisan members of the senate on immigration issues. At 1 00 tonight states auctions 24 billion in threeyear notes. Alix heres emma chandra. Th
12 billion in 30 year bonds. Lets get an update on with making headlines outside the business world. Ma President Trump next there will be no war with north korea. President trump says there will be no war with north korea. Insting oil and gas drilling floridasters republican governor opposed the drilling plan. Hes expected to run for the senate in november. In paris, Armed Robbers made up of millions of dollars in jewels. Three suspects have been arrested. Two others got away. The stolen merchandise could be worth as much as 5. 4 million. Nothing has been recovered so far. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im emma chandra. This is bloomberg. David time now for our daybreak first take. Bond markets reacting against news out of china. Second, oil is up, inventories are down. A big month for u. S. Trade policy with crucial negotiations on nafta and deadlines for actions on china. Alix joining us now, and hammond and