December 2008. Brent had its best day since collecting data. You are still looking at wti at 61. 81 and present at 65. 85 in asia, the knnikkei up about 3 points this morning, some early trading in europe, fairly muted there. Ftse slightly higher in france, the cac slightly down, so is the dax. Check out treasury yields, the soyear is now yielding 1. 833 the 30 year a little lower but well above what weve seen in recent months. Lets talk about the corporate story of the morning wework now delaying its ipo. Surprise but says it will still go public by the end of the year the company has been prepared for its investor road show which was supposed to take place today. But made the decision last night to stand down. This reportedly over concerns that there is not enough stock mark et investors. Work reporting they will not go public until at least october at the earliest adam neumann wants to get through the jewish holidays before he considers the next steps. Because that is what is keepin
Plus, nordstrom and Dicks Sporting Goods both surging in the premarket as the Consumer Sector coming off what was its best day in nearly two weeks and teslas second largest shareholder suggesting elon musk should step down as ceo. We have details. Central bankers and economists from around the world are gathering at the kansas city feds annual symposium in Jackson Hole Investors bracing for tomorrows speech by fed chair powell among the president s repeated calls for additional rate cuts some big live interviews coming up today and tomorrow from the summit our Steve Liesman will have harker in about an hour. Hes got bullard tomorrow. But we know what the minutes did to odds of a 50basis point cut yesterday. Yeah, everyone is a little talking at different moments here you have the president saying things, the economy is fantastic, which is why we need to cut rates but now hes focused on germany. You have the fed focused on the data and a little more torn. The fed is clearly thinking abo
Dow fell about 150 points as President Trump says this morning theres no trade deal with china just yet. Shares of p g, Procter Gamble, up 4 after its Earnings Report. This is a record high for this stock. Well have much hoar on that later on thank you very much with the dow just above 27,000, the president this morning saying we would be 10,000 points higher at 37,000 on the dow if not for the feds actions. So with 24 hours to go until the fed decision, we know the president would give jay powell an f for his performance as fed chair, but how did chair powell do in the cnbc fed survey . Mr. Liesman knows. Steve. Yeah, im not doing the grading. Our panelists. About 40 or so economists and fund mangers in the survey, giving powell a bminus. You can see how this compares with the final grade of yellen, a bplus, and bernanke at a straight b and you know what, powell had to navigate hikingerates and then going to hold and then going to what looks like a cutting modality here, mode for the
The moves weve seen markets everywhere were rattled by this news look at the treasury market. The tepyenyear went all the w down to 1. 89 . This morning the yield is lower, 1. 847 this is happening as you look at yields rolling back to levels we have not seen since november of 2016 the 30year is yielding 2. 377 the twoyear is at 1. 70 the five year at 1. 648 overnight in asia, stock theres took it hard you will see that the nikkei was down 2. 1 . The hang sens off by 2. 35 the shanghai was down by 1. 4 . In europe this morning, there are red arrows there as well with significant losses. The cac is down by 2. 75 the dax is off by 2. 6 the ftse off by 1. 9 so around the world all of this, people are watching closely to see what this means for the economy. Maybe no better market to see that in than the move in crude oil prices yesterday wti was off by more than 4. A decline of 7. 9 . Thats the worst single day performance since february of 2015 concerns about what this all will mean for t
Current Monetary Policy is too tight. A few months of good data is only the beginning of what it will take to build confidence that we are moving to our goal. U. S. President biden calls on congress to pass a fresh Security Package for ukraine and israel worth 100 billion. Saying america holds the world together. Put all that at risk if we walk away from ukraine and turn our backs on israel. Its just not worth it. Uk retail sales slide in september after they struggle with the Consumer Confidence. Andrew bailey expects to see inflation pull back, but warns the tight labor market is a key concern. Warm welcome to street si signs. Lets get straight to markets. We have bounced off the lows and we saw 20 minutes ago where the stoxx 600 hit a sevenmonth low. Several off 1 in the early hours of trade. We are 1 lower for the majority of boards. Ftse 100 out performing and holding up being down 0. 4 . This has been a global fee non man in. You we have the hang seng down. 80 . Similar in the sh