Has been tracking the latest. Julie stocks pulling back after the big winning streak of the past four weeks. Taking a pause, and it does feel like just a pause as we are not seeing big declines as the major averages flirted with gains, doing the worst of the major indices as they had more of an energy bias. Taking a look at the bloomberg, stocks were down the most today with oil prices and Consumer Discretionary holding up the best. Losses and materials weighing things down. Within that i wanted to look at the movers. Interesting that that group is headed higher. Not much more moves on things like mcdonalds or nike. The only thing we havent disney is that zootopia was number one for the second week in a row. Starwood got a competing bid in china. They had already agreed to be bought by marriott. Offering 76 per share. Lets see what happens in this developing situation as shares rise and pull up other leisure stocks as well in todays session. Taking a step back to look at the stocks, a spokesman for was back pointing out that we are number ofurge in the stocks trading above the 50 day moving average. In the shortterm it means we could see some mean reversion coming back down on this particular indicator. For the longterm it could be a healthy sign for the markets. The percentage of members treating above their 50 day moving averages, a five day chart. The red line is the 50 level to show you that last year in 2015 we saw negative rep much of the time. Much of the stocks trading above the indicator and now we are surging to 89 . Interesting that it is improving as we have seen this surge upward in stocks. Now a bit of a pause. Oil selling off the most since mid february. Julie its interesting that that is not having more of a negative effect on stocks. Crude oil, down 4 after iran reported that their oil minister said that there would be no production freeze until they ramped up production. The dollar is increasing. Sort of another strike against the commodities space. Something not helping. Mark looks like stocks are rising for a second consecutive day. A small game today in paris. Up by 1. 4 . You still got the boost from last thursday, but that hasnt happened since march of last year. All the two of the Industry Groups arising, im still fixated with the euro and the inability of the ecbyou presidet to managed to push down the euro because it rose, of course, by 1. 6 on thursday. It came down a little bit on friday. Over three days it is still up by 1 . Of course he would be telling us that hes focusing on the credit channel. This is an area where he has had success in the bond market. This is the italian bond yield. And felt on thursday like 19 basis points and then wrote rose by five basis points. Its than the yields have come down and as you can see, yields are continuing to come down across the curve, scarlet. Scarlet there is some speculation that the worlds biggest or i should say oldest bank in italy could be bought out. What exactly are you hearing . Capacityy come on take depasti, bankomasti there is a report that the Prime Minister is considering a takeover of italys thirdbiggest lender. Case they are seen as two peopleys familiar with the situation. Look at that, shares are up by eight or send. Ashasnt been the easiest they have been selling and bolstering finances, tapping well. Ors as under pressure from the ecb. It seems as though the bank needs a suitor. Thats it for the moment. Alix the you just love having mark here . And now we go to mark crumpton. Mark i thought you were talking about me. Im hurt. [laughter] trump moved his scheduled rally from florida to ohio head of the rally. Polls have trump with a 20 point lead over marco rubio. It is campaigning in chicago. One person not by her side, the embattled mayor of the city, rahm emanuel. Bernie sanders is trying to make the boat into a referendum on him. Former adviser has an Approval Rating of 27 and is facing pressure to resign. President obama could nominate someone for the Supreme Court as early as this week. The Republican Party says they are launching an ad or pr anyone the do rail present picks to replace the late justice antonin scalia. The rnc says they will target democrats on the Senate Judiciary committee. Federal safety investigators on their way to the scene of a derailment in kansas. 32 passengers were taken to a hospital in dodge city. The train was traveling from los angeles chicago. 20 four hours per day, powered by our 2400 journalists in 150 news bureaus around the world. Back to you. Scarlet turkish warplanes struck in iraq after the car bomb killed 37 people in the capital of that nation. The turkish president is vowing swift retaliation. Lets go live to istanbul, where simmon joins us. This is the third attack there in the last five months. What is turkey doing to face these . Click thats right, the third terror attack in the past five months, bringing the death toll to 160 people. The president has vowed to retaliate, saying that he will bring it to its knees, but it is proving more difficult than that seems. The Islamic State and kurdish militants are who turkey is fighting. The government is struggling to bring instability in the southeast under control. This is spreading violence into major cities. If you look at how the is down slightly, whats interesting is that the demand for this has dropped a long way. , the tur. Tstanding going down steadily over the last couple of years now. It is basically at its lowest in two and a half years. We are also seeing the lira gain a little bit today as the dollar sells off. Talk about the reaction that weve seen. Up headed for the longest rally almost four years with his climbing for 11th consecutive days. With further stimulus last week it was heavily reliant on capital inflows. The yield on 10 year government bonds dropped for a fifth day heading towards its lowest since december. The lira fell against the dollar hitting 2. 88, its first decline in five days. Mark thank you for joining us from istanbul, turkey today. Next half hour, Central Banks in the spotlight. Three key rate decisions do this week. We will explore how the latest stimulus may set the tone for policymakers. The german chancellor, Angela Merkel, is setting the course with a refugee policies. How much is this costing her politically . Especially ahead of wednesdays big spend decision. Live from london and new york, im mark martin. Scarlet scarlet fu here with alix steel. You are watching european close. Areral policy makers expected to keep the benchmark Interest Rate unchanged, monitoring how recent turbulence in Global Financial markets has in fact affected their forecasts. Look for full coverage across all media platforms wednesday at 1 p. M. In new york. The fed decision is at 2 p. M. And then janet yellen host her News Conference at 2 30 right here on bloomberg. Adisappearing alix disappearing medical implants will get a new look at from the fda this week. Clear fating to clogged arteries, legislators are questioning the safety and effectiveness of the device. Playstation view has only been available in cities like new york and San Francisco. The package now starts at 30 per month but you wont get over the air channels with that. They hope to cash in on the trend where viewers drop traditional tv services sign up with providers like netflix and hbo. That is your business flash for this hour. A big week for Central Banks. There are three key monetary meetings in the focus. Federal reserve on wednesday but the bank of england on thursday. For more perspective on those decisions we are joined by toian jessup, former adviser the u. K. Treasury, with me of course here in london. Who has the easiest job out of the big for . [laughter] i think the fed is in the most comfortable position. Probably the furthest along the line in meeting policy objectives and lifting inflation. The job for the fed is simply to reassure the markets that it can raise rates. Probably not this week but later in the year against the backdrop of a stronger economy without damaging confidence. How important is this meeting . No one expects them to raise rates but we will get a window into how important a view this is versus financial turmoil. They havehink . To do a number of things. They have to reassure people on the prospects for the u. S. Economy, nudging down the forecast a little bit. But it is improving and inflation is picking up slightly. It needs to be not defected to much affected too much by withl economic turmoil emerging markets and china in particular. The first thing they need to do, of course, is prepare the ground for further rate increases later in the year. Its got a lot of work to do in terms of signaling without taking action. What did the aggressive stimulus last week mean for what they can or wont do . If anything it does make the job a little bit easier. Global sentiment has improved as a result. The u. S. Will undoubtedly look at whats happening in its own economy. Late last year we saw where they could or maybe even should raise rates. They were affected by whats happening in the rest of the world. Its look at the move, thats encouraging with the dollar getting a bit weaker, helping to convince some in that way. Mark you heard with a set of pimco, Central Banks declaring a not good for the globe if it is too strong. Though one might have assumed that it would fall on the back of the ecbs stimulus, it didnt. Its that rising. Its been rising. There was this deal where they didnt want the dollar to be too strong. In the beste interest of everybody . Flex i think they are concerned about the dollar just continuing to rise inexorably. Thats probably what worried people. A slightly stronger dollar for now does make sense. The euro likely needs more support. Scarlet at the end of this week what will we find out about how coordinated it is . To respondbanks tend to the fundamentals driving their own economy. Lightly pointing to the need for further monetary loosening in europe and in japan they may well announce additional easing this week or next month. On the other hand, the u. S. Economic fundamentals justify higher rates. Everyone is watching everyone else because of the interconnectedness of currencies and bond markets. Is this bank of england meeting the biggest no meeting in the history of no meetings . [laughter] i certainly hope so. I think that the bank of englands position is more like that of the fed. Even then, the economy of the were u. K. Is performing like the u. S. Its tightly correlated to whats happening in europe. 2018 and beyond. Im a late 2016 man. By november the really enough evidence that it is in the current soft spot. Julian, always good to see you. Julian just that, keep josh chief global economist at capital economics. Still ahead, Angela Merkel suffering one of the biggest political set ask of her career. We will tell you what it means for the future of europes migrant policies. Mark you are watching the european close with scarlet fu and alix steel. Angela merkel saying she staying the course when it comes to her migration policy. She suffered one of the biggest setbacks over the weekend when she suffered steep losses because of opposition to her policy. Scarlet she said that her stance mark she said that her stance is the right one and refugeeange in the crisis. How much Political Capital has the german chancellor lost . Tony has been covering this story from berlin. Tony, she didnt backtrack. Shes sticking the course, isnt she, when it comes to her policies . Thats absolutely right. Berlin was waiting for this press conference. Its a tradition, the day after the chancellor comes out and pronounces her own verdict on what happened. She came out fighting and said that there would be him noconfidence vote in parliament, basically that she is not going to change course and stick with her approach. This is kind of what was expected, but she made she left no doubt. She also basically took on the critics in her own party, saying basically telling them that if you have a better idea, you can take me on. So, she threw down the gauntlet, really. Alix tony, the last time we saw the rise of the rightwing in germany was the 90s and at some point that faded. There was internal fighting and it broke up. Whats different now as opposed to the 90s . Theres been a real change in the influx, with one million coming last year. Into a company of 80 million. Country of 80 million. Angela merkel says that if we cannot handle that, we are not doing too well. Its caused a lot of anxiety and fear over National Identity and this is what the alternative for germany is capitalized on. It is also in line with whats number ofin a European Countries where these kind of nationalist or populist parties have been on the rise. Mark tony, what does it mean for next year . Federal elections are taking place in 18 months or so. What happens then . Do the weekends results have any bearing on the elections or not . Tony well, let me put it this way. People close to Angela Merkel that we spoke to have always sort of in the party leaderships of you and in her course onchanging something as controversial as this refugee crisis would be the wrong thing to do because it seemed like flipflopping and what germans actually want is stability. So, the elections are still some time away. Angela merkel is looking for this Global Solution with turkey and other European Countries. So, she still has time. That said, of course, it is a warning shot or a shot across the bow. The jury is out, alternately furious but there is nobody in the wings who is sharpening their knives and getting ready to take her down in her own party. Scarlet what is the alternative response from germany . What does the aft have to do in the next few months . Tony well, thats an interesting question. They said after doing quite well that what they really wanted to do was be in the opposition. Remember, they dont have seats in the federal parliament, in berlin. Now they have seats in half of the 16 state assemblies. They could actually turn it into something that so far they say that they are just here to show that not everybody agrees with what they portray as this cartel of establishment parties, which of horse sounds a bit like what you are hearing donald trump in the u. S. Thishey will capitalize on surge today remains to be seen. Tony, tony, got to leave it there. Thanks for joining us, speaking to us live from berlin. Having a quick check on the final numbers, looks like stocks will be finishing the monday session higher, gaining for a second consecutive day. January thel since seventh. Bloomberg markets, the european closes next. Stick around. Hohey s woiit ghong, estcak . Hoestcak. Th lais p hceotas hkeca hyso wn arett ey llsekeg lica hotkes . Cwithstomcain business tean fid wi, pro cthey bould e. Ju ddst aus a czetomid ey age yltowiour rofi pas splgeh pa an ud yo ll year cusomerer wheie thesr ey a aredylrea ju ddst aus a czetomid ey age on dheiresevic pas splgeh pa. Or upder. its hare tstn jui, wif c itelan howp grr younebusiss. U ydone t se ethat dveryay odintrg ucin pwifiwiro, fi hthatelyorow usur bs. Ines ascomct. Ness t builbufor sssine yorkb. live from new european close. Andre finishing up the day european trade. Lets take you to all of the action. Thirds of 1 . The second consecutive days of after four consecutive weeks of gains, the largest consecutive gaining stretch. The stimulus is working in the stock market, is it working in the currency market . Im afraid it isnt. On thursday, the euro rose. On friday, came down a little bit. It came got a little bit more today. Over three days, the euro is up by 1 . Will janet yellen do the a favorite . Money is going into the periphery right now. This is a lovely chart showing the difference in yield between the spanish and german. Over the last 12 months, the. Ecline in the spread fell down. Then, it has come it has fallen for three consecutive days. The measure is working in the bond market, at least. Inx especially if you are germany. Campari . Ut g mark b. look at the shares, it is up 4. 5 percent. Group rand marnier shares were suspended today ahead of an announcement. They are working to explore Strategic Options with the. Usiness, including a sale ofpari has grown over a slew acquisitions. Something solid comes out. Are you a campari person . Scarlet im not. I have to admit. Alix no. Mark b. im the same. Dont go near it. The dow we are watching and s p. Were drifting between gains and losses. Everyone is waiting for the big centralbank meeting. Within the s p 500, if you look at the 10 Industry Groups, Energy Stocks are leading by a large stretch. That is because they are seeing oil prices down. Iran is saying, we will pump as much as we want until we get to 400 barrels a day. Scarlet lets check in now with abigail doolittle, life at the nasdaq for more on the markets. Abigail the trading you just described is so true here at the nasdaq drifting between small gains and losses. Be chiphappen to stocks. The worst is western digital. The stock is down, going into a shareholder vote tomorrow on the companys proposed acquisition of sandisk. More recently, chinese investors withdrew last month. And analyst says that concerns around the nan market and acquisitions themself could wait going forward. Watching tripre advisor. Abigail there is takeover speculation on twitter. Mentioned as a potential acquirer. It is unclear who is behind the open outcry or account outcrier account. It is unclear with the motives are. Nonetheless, this news or speculation, i should say is certainly moving trip advisor higher on the day. Alix thank you so much, abigail doolittle. Mark b. lets get to the global market. Ll eyes on investors joining us now is a chief investment officer, he helps oversee over 1. 5 billion in assets. What is the message from the fed this week . Nothing will happen on Interest Rates. I think june it will be interesting but will happen on the dots. Mark b. meet in the middle . Likely meet in the middle. Mark b. do we really care about the dots . Can we look beyond our nose . I think people care about the dots. I think it is a fair and reasonable policy to have right now. The dots matter. Alix and term of the markets, we have been looking at is in p smp. Across the board, technicians have been very concerned