The dax in germany up by. 2. The cac in france is up by a quarter percentage point the ftse is flat crude oil ended down by about 19 cents for the week last week this morning its down another 17 cents to 56. 38. A couple big stories were watching geopolitics. Germans chancellor Angela Merkel said efforts to form a Coalition Government has failed. Merkel has been working for more than a month to work with the, quote, free democrats and the greens after losing ground to a far right party in the september election if a coalition cannot be formed merkel could form a minority government or call for a new election youre looking at the euro down. Big questions about whats going to happen in that country. Also, in Corporate News, Marvell Technology is reportedly nearing a deal to buy chip maker cavium for 6 billion. Its going to create a bigger competitor for chip makers like intel and broadcom it would be comprised of 50 cash and 50 stock valuing cavium at 80 per share. Possible deal was firs
Yesterday. The nasdaq down less than 4 wiping out all of this years gains for the dow, the s p and the nasdaq just holding on to positive territory it wont be if this is anything to go by at the open we are down 434 points for the dow. The s p is down 28 the nasdaq down 23 points. We have higher volume yesterday. 8. 6 billion shares raided. 50day moving average 5. 7. We saw vix spike very much at the end of the session so every everiedy kate y edindi risk off indicator lets look at the tenyear treasury note. Rising yields over the coarurseo the move has been a spark for this selloff we saw yields come back a bit yesterday, right at the end of that chart 2. 85 or so at the peak last week the trend in yields is sill intact rising yields over the course of this year. The trend in equities is no longer intact. We have pulled back away from those highs. Full Team Coverage of this Global Market selloff. Dominic chu is with us in the u. S. , Steve Sedgwick is in london lets go to Nancy Hunger
U. S. Also, President Trump and his team have been pushing hard on his tax plan. 4,000 pay raise. Former treasury secretary Larry Summers says the claims from the white house are more dishonest than any he has ever seen before. He explains. The white houses Kevin Hassett defends himself. And the mona lisa, the last supper, and yes, the flying man, all creations of the extraordinary mind of one extraordinary man, Leonardo Da Vinci. What can we learn from leonardo . A lot, says Walter Isaacson. First, heres my take. While news and analysis in america continues to be obsessed with Donald Trumps daily antics and insults, halfway around the world something truly historic just happened. China signalled that it now sees itself as the worlds other super power, positioning itself as the alternative if not rival to the United States. This is not my opinion based on reading the tea leaves of chinese politics. It is the clearly articulated view of chinas supreme leader, xi jinping. In his speech t