Shatter at key support level question mark Second Quarter revenues are not as strong as the ceo would have liked. Matt miller will interview the man himself later this morning. What is going on at ficc . That is the rest are from the markets. 30 minutes into the trading day, this is how we are looking on the futures, little bit lower. There is a veritable feast of delivery from the corporate world. The question is how have we run an done on the european equities, the euro is rising. Asked is erica did not the one of its big trials astrazeneca did not meet one of its big trials. Bit a beat. Stocks are a little bit lower. How do you look at the fed, was it bullish for exit for equities, was it bears for bonds . You have south korea higher but we want to focus in on that currency, on the currency moved currency moves that you see. Also a little bit slower but this is where you want to focus on which is the dollar. The dollar is down by an eighth of 1 . It is the nuance in the language. Th
Are 30 minutes away from the open in hong kong, china and taiwan closed for trading, but singapore and malaysia coming online, a slew of asian pmis, the markets have a lot to digest. Lets get it over to david ingles. Happy first day of the quarter, by the way. David and to you as well, heidi. Ofeak dollar story, a bit deals. The leaders across asia, a few flat markets. South korea. 5 , new zealand, singapore, we wont get into the details. Japan erasing earlier losses. Have a look at the currency markets, inflows, the south korean won, a big movement with high beta currencies like the won. 1111 predicted in the next few months. All right, put this up and have a look at the commodity markets, and no Movement Across energy. There was a big move last week. All the information has been priced in. Next key thing is what happens to inventories. That is what opec keeps saying. Look at inventories and the main data. When we moved to june, we expect the needle to be moved a little bit. The bonds
Number came in a confused everyone. Julie we are still seeing troxel stocks trade lower. Eurozone, wethe get manufacturing data that was not worse than expected but only , justsmall expansion above the 50 line. In the u. S. , the number came in ahead of estimates and was not that far above 50. Nonetheless, we are seeing not a positive reaction. The nasdaq is leading in terms of gains. Its not even of one full point. The dow and the s p have been lower intermittently. The dow is the laggard just like yesterday. The s p 500 over the course of zigzag,had a kind of almost going positive at one point midmorning before dropping back down. June has not been a very favorable month for the s p 500. This is a busy screen so focus on this column. This is the june column. The average decline in june over the past 10 years has been 1. 5 . Six of the past 10 june 7 negative. It has not been a kind month. Worstays session, the drags her in the s p 500. Apple, microsoft, General Electric are all slidi
Rally. S p climbing 1. 54 . Nasdaq gaining. What happened to make everyone go from negative to positive practically overnight . Primary catalyst is the strength in oil. As long as oil hangs in there, roars higher there wont be big defaults in the oil patch, just small ones. We saw it today. The run on crude is incredible. Crude, crude everywhere and not a drop to be able to you cant find storage. You can always tell this kind of thing that oil is in control by looking at how the s p 500 futures trade before the stock market opens. The socalled overnights. Last night with oil up 75 cents the futures looked like they would take stocks up a half percent. As the oil futures traded up to double that, the s p futures suggested that the market would rally up a full percent. It is lock step. In the second positive factor, second factors crept into the market and well talk about it though its political. It is being over looked. Bernie sanders, looking like a paper tiger. With a small loss hes n
It is lock step. In the second positive factor, second factors crept into the market and well talk about it though its political. It is being over looked. Bernie sanders, looking like a paper tiger. With a small loss hes now buried alive. Now we are hearing about how Hillary Clinton has locked audiotape huge number of super delegates and it could be impossible for sanders to win. Where did that come from . I have been saying when we get clarity in the president ial race its good for the stock market. Since the media likes a horse race, be careful. When the map turns to sanders in a month. Maybe the press will declare hes come back from the dead. Knocking out sanders, if hes knocked out, as every piece of journalism i saw this weekend post nevada suggested allows hillary to go back to a moderate which is friendly to wall street money. Immediate is trying to keep marco rubio alive. I expect trump to go after marco rubio in a way he are yous the day he announced for president. Now you hav