The currency is also higher but it has taken over the conversation and brazil. David he said brazil and argentina were devaluing their currency. What has the central bank been doing . Julia the central bank has been trying to pop up the currency. It has late due to several factors, including the dollar being strong worldwide. A lot of it is not tied to brazil. There was some disappointment in the oil option. There were a lot of factors behind it. Argentina had the election earlier in the year and have currency controls for a while. They are not doing anything. The central banker is speaking at a luncheon and has just reiterated that the brazilian is a Floating Exchange currency we only intervene when there is dysfunction. David give us a sense of how important steel exports are from brazil to the United States. Julia is one of the biggest export products between brazil and the u. S. , the secondbiggest, trailing only oil. In terms of civil exports as a whole, it is not a lot. Brazil ex
The last year. If not the last week. We see the vix picking up as well. Unsurprisingly. Another times during the week, there isnt much fundamental news coming throughout the day, it is more the gyrations and ripple effects that are continuing during the selloff as investors and traders try to position themselves. Technical levels are becoming more important as well. Take a look at the bloomberg. Here is the s p 500 with its moving averages. I want to zoom in on it to give you a look at what is happening in todays session. What you had here, here is that 100 day moving average. Right now, we are right smack addict. 26. 39 is that level. Give it a day, we fell below it and bounced back up. There was a note from Michael Close that said if we do more definitively below it, then we could see more momentum down toward the 200 day moving average, which is at 2538. This is something that traders are continuing to watch. Lets take a look at some of the movers in todays session. Amidst all this
Democrats are upset that the report was not accompanied by fresh sanctions for russias alleged meddling to the president ial election. Liste on the all a card are not subject to penalties. After coming under extreme criticism, pope francis decided an investigator to investigate victims of covering up for the countrys most notorious pedophile priests. The general secretary of the conference announced that multis archbishop will travel to chill who has denied charges of the abuse. Frances defended the archbishop. Nassar run capitol hill today on legislation that requires governing bodies and amateur athletics to probably report abuse claims to law enforcement. This is not for lawmakers make changes and sent it back to the senate for approval. I want to thank the very brave Young Athletes who have come forward and spoken about their personal experiences of sexual abuse. Thank you for shining a spotlight on this horrendous crime. Mark the legislation extends the statute of limitations for
That matters so much or stands out, but it is the fact that we have declines as opposed to gains for the s p 500. This is the first down day in and nine. There has been so much bullish momentum. The three major averages are on pace for weekly gains, but we do not have any record highs, the first time we have seen that this week. The nas whack nasdaq is down, and we can see if the tech heavy index can pull out of the weeds. This could have to do with the jobs report and the cryptic comments from President Trump, but it is also earnings season. This is a oneyear chart. The s p 500,ve those yellow lines, arrows, that is the q4 reporting season earlier this year, and the First Quarter earnings season earlier this year. On the bottom, a momentum indicator. We see before the Earnings Report. Reports, engine, this happened. We had the tech wrap. , so conditions were not overbought. We are starting to trend down, suggesting we might see these overbought conditions cooldown for a little bit. Bu
Carlds on whether announces his claims to independence. Back down to avoid confrontation. He says he can guarantee a fair and credible election. Ahead of the Election Commission says corruption will taint the process. In august, the Supreme Court nullified the election in which the incumbent president was declared the winner. The top electoral official can you cannotid meet the global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. Basic expectations of a credible election. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. I am mark crumpton. This is bloomberg. Julia live, im julia chatterley. Live, im julia chatterley. Scarlet i am scarlet fu. Joe i am Joe Weisenthal. Were watching the dow on session highs. Joe the question is, what did you miss . Watching the dow. Are coming for wall street jobs. You want to hear our next guest on how it is time to rethink jobs with algorithms.