we will take you from new york to london to doha and send paolo. -- san paolo. talks in doha failed to bring in a freeze for oil production. we are live with the fallout. betty: time is running out for greece. leaders are working with the imf and meetings in washington to come up an austerity plan everybody can agree on. can a deal be reached before a massive debt payment is due? mark: the ousting of dilma rousseff is one step closer after a crucial vote in the lower house of congress. we will bring you the latest from san paolo. from bloomberg world headquarters in new york it is 90 minutes into the trading session. latest onn has the this rebound we have seen in the markets. julie: stocks rising to their highs of the session. all three major averages up around one third of 1%. gaining highs in the session. s&p gaining the most of the three major averages. if you look at the trajectory of the s&p 500 over the course of this early session you can see it has been up and up. shaking off any negative effects of oil and the lack of agreement in doha. discretionary s

no deal in doha. >> but not only the move in oil prices, if we look at the reaction to equities or for good week we had last week in europe, we are only down 2%. the ftse is down not quite .40%. australia, very energy heavy. only down .40%. the reaction this morning, yes on the headline crude down 3% is significant, but we're still at 39.14. the reaction not as negative as it could be. >>> goldman sachs expects more volatility as far as the weekend news in oil. this leaves the market reaction uncertain. risks skewed according to goldman sachs for a sell-off, but the kuwait deception could be much smaller than perceived. >>> we have corporate news to tell you about. today is the deadline for potential bidders to buy yahoo!'s core business. verizon is topping the pack of suitors of those who decided not to bid, comcast and at&t. verizon's competition is from private equity firms. yahoo!'s core business could attract between $4 billion and $8 billion on auction. but it is still unclear what the assets ca

themselvess bracing after the doha crisis. oil did start down today. weis sort of amazing that have energy shares leading the rally, but that's really where momentum has been. i think that is the key. you get the sentiment changes in the market. and the risk on sentiment has been with us. even though the earnings situation has been bad. alix: netflix is a perfect example. it has a lot of momentum. you see a miss on the international's of driver forecast -- international , and withoutrecast these, the market has nothing to go off of. mike: it's almost like attention has shifted to the value stocks. we have banks, financials have gotten really beaten up. themomentum now is toward value names. i think there is still a question, long-term, if we really want to break into new highs in the market, where will the leadership he? it's impossible to say at this point. i want to break in with ibm results. s oning the highest estimate the bloomberg survey. revenue higher than anticipated, $18.7 million -- $18.7 billion. --t notable here is that pardon me, not earn

despite iran's absence, those in doha were still optimistic a deal could be struck. however, nigeria's oil minister told us iran's absence was a key reason any deal failed. >> in the absence of iran, unless iran could obligate to go with the general pack, it was not effective. so we went back and forth, trying to work alignment. but unless you had everybody in the ballpark, it doesn't matter what we agree. >> reporter: he added there is no other special meeting planned between now and the next official opec meeting on june 2nd in austria which all leaves saudi arabia, iran, and the other major oil-producing nations of the world free to pump out as much oil as they can, leaving the globe it will oversupplied and oil prices vulnerable. for "nightly business report," i'm brian sullivan in doha, qatar. >>> >> the failure of producers po agree was partly offset at least for today by a strike in kuwait by oil workers there. the nation's output was cut in half today, helping support oil prices. hadley gamble in kuwait has more on the worker demand. >> reporter: a second day

mark: let's get on to doha. as we said, let's do doha.ec another producers don't do something about the surplus, it could destabilize prices. again, 40 traders and analysts surveyed by bloomberg were evenly split on whether they will be a deal. let's bring in will kennedy, bloomberg's managing editor. the drum rolling continues, will . are we going to get some sort of deal, and if so, how it will budget will it be? will: we will get some kind of deal on sunday. the things that people need to watch our saudi arabia and iran. is iran going to show up and are ?hey going to make a commitment will that be enough that they will take part? a may not be the strongest accord. mark: having saudi, russia, pumping at record levels. will: it is logical for the market. you got producers who account for well over half of what production, potentially acting in concert. that will give a real lift to prices. there are other things going on in oil driving the market. share prices are falling dramatically. climbing onas been its own accord. betty: you mentio

>> what happens in doha. >> stays in doha, really?except for the price of oil. >> except for that, can't talk about anything else? you can friend soind some place a kibble? >> moral's clause. >> really? there's a statute of limitations. >> once you're in doha. >> pepsi could he reporting a quarterly profit. pepsi did report expanded profit margins and increase in organic beverage sales. stock is up by $1. a blowout for hasbro. 14 cents better than the street expecting. revenue beating by a wide margin as well. hasbro's results were based on toys from the "star wars" movie. we will be keeping an eye on amazon and netflix shares. amazon will offer a net streaming by $8.55. up until now amazon's video service has been available as part of the prime program. what is it, $99 a month or $99 a year. >> it may have gone up. >> they just said 99 in my year. that's not bad. okay. >> $99 a year but you have to buy the whole year. >> that's all right. >> they lose money. >>> morgan stanley is up. 69 cents a share. 9 cents above expectation. expec

doha down her. oil talks and without an agagreement sending crude futurs on their biggest drop since february. seeking havens. investors moving to the yen as oil slides. asian stocks are retreating from a four month high. plus, the brazilian presidency hangs by a thread as the lower house votes in favor of impeachment. the process moves on to the senate. manus: welcome to countdown. anna: a warm welcome. , a lot ofctures emotion on the streets coming from result. with theart in doha oil story. doha.et in such expectations built up to this meeting even though we knew the iranians may or may not have played ball. manus: the saudi's made it clear that they wanted the iranians on board. road to dohathe crash. everything is reacting aggressively in the wake of that disappointed. let us check out the fx board. the wtiwn 4.7%, and down 4.2%. the aussie and the canadian dollar and the yen. the biggest around the yen. near a 1.5 year high. there was also an earthquake in japan. lew called on foreign exchange

javier: doha delays it a bit. what we know now is that -- everything that has remained the at 10ill continue pumping day.2 2 million per if the saudis want, they can put more into the market on short notice. and again, we don't know what the saudi reaction will be. last year it went up to 10.5 and that is one of the reasons saudi arabia increased production. ran his cut-- iran is coming back. they will increase production. we can to delay the rebalancing and we can't have a longer period of lower prices. francine: thank you so much. javier blas, stephen major. well'll be looking at allocation ons next. -- into negative territory if necessary. then, dilma defeated. the congress voted to impeach the president. she will be announced to deliver on brazil. osborne puts a cost on brexit. we bring you the headlines from a busy morning for the u.k. chancellor. ♪ francine: welcome back. let's get straight to the bloomberg business flash with nejra cehic. nejra: hsbc is said to be preparing for change at the top. as ceo stu

right to brian sullivan live in doha, qatar. where high hopes for an oil deal quickly fell apart. >> tyler, thank you very much. there's a lot of talk about what did not happen here. we did not get a de, fair point, but i think you also have to talk about what did happened? s about 50% of the world's oil capacity was in that room. interested in oil, energy and the economy came out. there were reporters everywhere. in fact when the minister walked in, there were a lot of smiles, talk that a deal was all but a done thing. you could see the interest still as the reports hounding that sawed ir al niemi, russia, a number. for much of the day what also didn't happen? >> 11 of 13, libya. >> you're in iran, remember, we're very close to that country white iran was not here physically, after the meeting failed and end ed we it with th energy minister. i asked him, was iran there in a way, and his answer implied that while iran not here fully was indeed possible in touch with some folks during the meeting. >>> to go with the -- then it wa

doha dominates.ields go where crude goes, that general risk running right through this market, the dollar yen coming back a little bit. that's around .4%. the euro-dollar ahead of that ecb meeting later on the week, 11306. here's vonnie quinn with your bloomberg business flash. leads the race for yahoo! after a number of potential bidders dropped out. iac interactive decided not to make an offer. earlier, bloomberg reported a wall units are working on a yahoo! units that would include yahoo! japan. osborne has come out with the treasury analysis that says leaving the eu would shrink the british economy 6% by 2030. the report warns the damage to the economy would be permanent because lower trade and investments. says taxing director evasion and the use of shell companies is a crucial challenge. the imf meetings, she says companies -- countries must think outside the box. earlier this month, leaked documents showed how some of the world's richest are hiding their assets. david: dilma rousseff is hangin

but doha is this weekend. if they're able to effectively convince the world that they're going to freeze production and oil rallies, will equities go with it, though, this time? >> i would say it will be a big positive for a lot of the oil sensitive equities. it will be big positive for em assets. yes, u.s. equities probably benefits some, i wouldn't say big benefit. i think the correlation between equities and oil has been quite high, but that's at low oil levels. if oil starts to rebound back to 45, 50, i think that correlation starts to decouple a little bit. >> sit tight. he speaking of oil, rig counts are out. to dominic chu with the numbers. >> let's count some rigs. it is friday. baker hughes has done this for us and now u.s. oil rigs down 3 to 351 in the last week here. falling by 3 to 351 total. this is a huge drop from the same time last year. you can see there, but still we're trying to figure out whether or not this will have an impact on the overall oil price market. oil is holding relatively stea

i think this doha is interesting. oil is down, stocks are up to it i think you are starting to see some of these factors that are starting to price in and acceleration the economy. materials, energy, industrials, that is why some of those sectors are doing better. they have performed well year to date. at the risk is to the stocks that are too far ahead going into earnings season, a gentle reminder that things are not quite as good. financials today are rallying, even though it is only because expectations were brought down so low. betty: right, the bar was so low. do you think stocks are getting ahead of themselves? andrew: that is the risk. but there is no doubt, the market is telling you that the economy is starting to accelerate and some of these value areas are starting to lead. betty: so investors are right? andrew: you have weakness in oil, but stocks are up today. betty: you talk about earnings, and we will obviously be watching earnings season closely. let's put up that chart that have profit margins, which c

no doha deal. there you go. you have also got maybe a market share battle coming because iran which was sort of the big specter here, they want to ramp up production. saudi arabia, maybe as a thumb in the eye to iran, may ramp up production as well. you have those productions go up. nobody else is going to cut. now you got this market share battle and sure enough, opec, although this was not a pure opec meeting, certainly does not come out of this meeting looking any stronger. let's make the bear case now. i think it was joe that mentioned something about oil not falling as much as anybody some of the shorts had fall. they can thank kuwait. there's a big strike in oil workers for kuwait. we will put a little red line through that, because al arabia reports that kuwait is saying in a couple days we'll be back to full production and maybe go to two million barrels a day maybe as a thumb in the eye to the striking workers. kuwait may not hold the bull case for long. do you have u.s. production down 700,000 barrels

fidel, why did this doha talk fail?ld our viewers nothing would come of it, and sure enough, nothing came of it. >> well, basically, it was dead on arrival. saudi arabia tried to put pressure on the iranian government, and the iranian government called their bluff. and they said we are not, not only that we are not going to adhere to any accord, but we are not even going to attend the meeting because -- [laughter] they said it's a joke. liz: that's right. >> so the saudis are playing more geopolitics than economics. liz: yeah. >> at the end of the day, they had no intention whatsoever of bringing oil prices back up to a realistic level. they want to punish russia and iran because of their meddling in the middle east. saudi arabia 's top priority is security, not economics. they have about $700 billion in foreign assets that can bridge the budget gap for another four or five years, so they have more breathing room. but the iranians don't, and the russians don't. liz: why then, fidel, oil plummeted about 7% overnight and

live in doha for us today. for more analysis on what this means for the price of ill, let's bring in rbc capital markets global head of commodities strategy and the middle east expert, we should say. so, brian laid out some of the color behind why the deal fell apart. we should note that you actually predicted there would be no deal. >> yes. because the iranians were very clear they were not going to participate. and saudi arabia shifted their position the last couple of weeks. couple weeks ago the saudis said we're fine with the deal even if it doesn't involve iran. then saudi's deputy crown prince who really runs the entire country said, no, i'm not pulling back production if iran doesn't do it. so all of us have to freeze together. so unless iran changes their position or saudi change their position there was never going to be a deal. >> there's a long running history here between saudi arabia and iran and this rivalry. where does that put us this morning? because iran was never part of these negotiations. >

carol: what about the doha meetings? are you watching closely for what it could mean for oil prices? chris: we are. we have a big call planned for our advisors monday. i think the reality is there's not a lot expected so a surprise could jar markets. we don't see a lot. the supply and demand market does not shape up for a lot of agreement out of this. we will see. carol: what worries you about this market environment? chris: the fact we don't have a lot of valuation support and i think the revenue environment is going to drive pressure around cost. because the accumulation of debt in the financial system at the corporate and national level, we start to run out of options. the longer we go on with low revenue growth, the more we will see challenging parts of the market. energy. oil prices at $40 into next year. , we know the story around a high-yield energy names. carol: we have seen this cycle before. and we start to see things pick up. any anticipation of that happening? chris: i thought you were going to say the weathe

scarlet: critical talks on oil on monday in doha. there is news that iran will send a representative to this gathering. alix: the contrarian views on valeant as the struggling pharma company deals with $32 billion in debt. we will speak with david neuhauser, who is shorting a stock, while bill miller calls it a buy. a big by is what it meant to say. [laughter] scarlet: first, we want to check in on the markets right now. ramy.head over to ramy: i'm going to call the session on to middle because we have going between the red and the green. you can see that we are pretty much at the zero mark across all of our major markets. less than a 10th of a percent down across the board here. some of this confusion might be coming from some negativity and positivity from the u.s. as well as around the world. u.s. factory output from march down. output upactory and china gdp up 6.7%, which is on target. let us also switch to look at right now and the u.s. dollar is lower across the board against these major currencies. 1.42 for the dollar-british

guy: if we see this rally carrying on, we have a meeting coming up with doha are that push -- doha which oil higher. are we too early with the help here trade? the market -- with the health care trade? the market continues to trade out of it. guest: it is certainly a risk. forhink oil will be a range the next six months. we see it struggling to break much above $45 a barrel. we think the downside is limited by the potential for opec a ction, or whispers of action. you have oil in a range, using energy move a lot relative to the oil price, we think the risk-reward in the energy sector is not that great. we would rather be and other cyclicals or health care. hans: you stay out of the energy sector, at least the oil shale story, what does that mean when you look at the overall dollar play? earlier, we talked about the dollar where you are bullish on the dollar, do you see some strength coming back because the market is convinced that everyone in the ecb is more dovish than janet yellen? guest: we do think that the dollar on a six or 12 month use will strengthen again. if i think about our m

the upcoming doha meeting could be a short-term catalyst. a little bit more than half of those polled said that they think there's more than a 50% chance that some deal could be reached, although they don't know what it will look like. while they say a no deal outcome will take prices lower, the majority think that oil saw its bottom earlier this year when it got close to $26 a barrel. the most important factor influencing prices right now still oversupply. that was overwhelming response. demand, global risk, and dollar fluctuations all still key factors. the one thing we know is we are in the midst of an oil glut. there could be downward pressure on prices but nobody knows exactly what's going to happen next. for "nightly business report," i'm jackie deangelis. >>> oil and gas firm goodrich petroleum has filed for chapter 11 bankruptcy protection becoming the latest company to fall victim to falling energy prices. goodrich says it expects to maintain duft liquidity during the restructuring and will be able to continue running its operations

curdrude, that is the one we are watching out for, because of the doha meeting. we will speak to paolo scaroni. i wanted to show you the singapore dollar. it's boe day. let's get straight to the bloomberg first word news. nejra: new zealand central bank has said a journalist great surprise interest-rate cut last month. a news hub reporter sent information about the cut to media lockup on march 10 before the release time. although the reserve bank says there is no evidence the leak has any impact on financial markets, it will discontinue embargoed lockups. the chief investment officer's at goldman sachs said expect a wild ride in the world stockmarket and not that much to show for it. he oversees about $15 billion of volatilityouts will continue as nervous investors dump shares that even the slightest hint of bad news. he predicts mid-single digits return on stocks. singapore central bank aexpectedly eased, moving to policy last adopted during the 2008 global financial crisis. zeroove to a appreciation on the country's it feels thes as effects of china's weakening

betty, let's do doha. betty: let's do doha because they will be doing the market.] falling for a third day before suppliers meetor in doha. for more on this, let's turn to enter cost growth joining us from our princeton bureaus. andrew, there was a survey out showing among 40 analysts, they are evenly split on whether we are going to get a freezer not. are we come our are we not going to get one? andrew: it can go either way. even if they do agree on some sort of freeze, the rhetoric and details around it will be to opaque to really understand what that really means going forward. doesn't mean saudi arabia a keeps it flat? does production ramp up to the january levels, which is already down 400 barrels a day for opec? there are too many unanswered questions that will not be answered after the meetings. market rallied 30% from february. 50% since january. it is hard to see whether that will continue after the meeting. , and it iss indeed also hard to see even if there was an agreement what exactly could happen to oil markets because it are a lot of factors. what i m

whether he shows up in doha is completely irrelevant.rsations have taken place amongst the opec members. the iranian position is the one that has not changed, which is we will not join acap until we get production back to levels that they were pre-sanctions. unless he wants some air miles, all he is going to do is sit in the room and listen. iran is not going to do it. manus: this is a graphical representation of where we are in terms of production. ryan: they are not there yet. that is what the graph shows you. manus: the other story was what levels do you use at this meeting in doha? everybody has a group hug. the idea was february production levels would allow iran to continue to produce and participate. of around this level of where they saw february production. the groupiely does to accommodate iran, the group needs to accommodate iraq, which is pumping at record levels. they need to come out with some nice, fancy language that allows iraq to keep pumping like there is no tomorrow. this is the thing. the expectation is that there is

richard: obviously, the talks in doha this weekend. the wti and this being a notable thing. depending upon what you get on sunday, we might be below that moving average for me open on monday, or might continue to grind higher. that is -- the oil place is one of the things really setting a tone for this. we have had a decent amount higher. let's see what doha brings us. guy: where are we with the fed? i am still trying to understand this. we have had another people -- speaker on our air talking about 2, 3, 4 hikes. could we get a back and of the year filled with said hikes -- fed hikes? richard: the world would look like a much different place. some of the regional president are more hawkish. it strikes me that chair yellen as the leader of the dovish group is pretty much setting the tone. i don't think the with the market is reacting, there has been no change to what she said despite the fact that we have had some more hawkish voices. guy: thank you very much, indeed. an interesting week and next week that sets up into the meeting. plu

two months of preparation ahead doha talks. baked in agreement, and now we don't have one. i think it is interesting to look at the price action. all the selling happen right at the open. since then, we've seen a little bit of lying coming in. there are other things at play today. we are hearing news that the kuwaitis oil production workers have gone on strike. there have been other things boosting prices. it's clear that fiscal and monetary policy is working. we've seen some favorable inventory numbers along the way. it hasn't just been the lack of agreement, there are other factors at play. all the selling happen in the first few minutes. since in, buyers are stepping into the market. isn't it also a bet that in the second half that we will see as applied downgrade in prices pickup is a lot of people forecast, including the iea? >> yeah, i suppose. at the end of the day, the total opec production numbers have been flat for some time. the saudi numbers have been coming off in the last couple of months. a production freeze is n

did doha do what it was supposed to do?out too much of time for the producers to get hi themselves in order. now, i don't hear anyone calling per barrel. >> you are absolutely right. if this was scheduled for january, it would be different. they need to do this is no longer as critical as it once was. scarlet: what did the saudis do now? we were talking about the divide . how does the nation procedure ? >> i think elliott's comments were overstated. i don't think the oil minister has ever done anything then follow the directions, as they have been. i think the directions may have ambiguous. after the five-hour interview with the prince, exactly two weeks ago, the instructions have been clear. there was not going to be an agreement. i think the guys who came in from around the world were trying to listen to some other message than the one received. i think what the saudis do now is an open question. the logic is they will put more wereoil into the market rather n freeze production. certainly, the deputy crown suggestions.de

brian sullivan is in doha. he's covering the aftermath and he can give us some color on the saudi point of view and how this nonagreement came about. brian. >> yeah, mike and kelly. thank you very much. the what, no deal. the why. nobody wu going to golong if iran wouldn't. the minister saying why are we going to do a deed. for 20 plus years, the who, the big guy, the big gun in global oil negotiation was the saudi oil minister. he ran saudi arabia's oil business. he basically controlled the world's oil. everything he said, the utterances he gave could move markets. that's why when he walked in the door yesterday morning throngs of reporters jumped all over him saying he had a potential deal. he had a big smile on his face. it looks like that might have been a little bit of brinksmanship. i'll paraphrase them. meet the new boss. maybe not the same as the old boss. it's become clear the new biggest power in oil worldwide still remains with saudi arabia, but it's the 30-year-old calling the shots, the oldest shot

the doha meeting was just a bit of a froth on the top.tl be interested to see equity and oil markets have had a limited reaction today. we might see a little bit of a pullback today, but continued to wash around these high levels we have established in recent weeks. thank you so much. i appreciate your insight. >> these of the stories making headlines around the world. story at aping brazil, live pictures there as lawmakers are on the verge of impeaching the president. the lower house is voting now, and then the motion goes to the senate. made a last-ditch appeal for support a head of the vote, having lost most of her allies in several members of her coalition government. the number of people killed and 246.or has risen to strucknitude 7.8 tremor 170 kilometers northwest of the capitol and was one of the strongest in decades. officials say there is considerable damage and the area was hit like dozens of aftershocks. the new president of myanmar says he will release more political prisoners amidst sweeping democratic changes under the new

it is part of the doha agreement, but, of course, the doha agreement does not include all of the opposition parties and more recently talks in january between opposition parties. there is no consensus about whether this referendum should take place at this time >>> thank you for that. on the eve of peru's presidential election four people have been killed, seven have been injured in an armed attack. the authorities believe that the leftist group, the shining path, are behind the attack. in the central region. three of those killed were soldiers and the fourth was their driver. they were talking forces it v e vote. security in crime rates are on peruvian voters' minds. opinion polls suggests that the front runner is moulding on to her lead but it unlikely to written outright in the first round. >> reporter: last month 38 year old was standing outside his home. a young man walked up to him and shot him twice in the head. his family says he died a victim of a wave of violence on the rise. >> translation: now youngsters 17/18 years old who walk around armed and they're more aggressive. there ha

down over 1% earlier because of the collapse in talks in doha.ticipated some sort of deal whether it was going to be -- stocks are rising now, predominantly due to travel and leisure stocks. .he stoxx europe 600 energy stocks are down. most of the other indices are trading higher. the european closes next. we will speak with the eu financial affairs commissioner following the imf spring meeting. will it aid in the search for potential bailout for greece? ♪ mark: betty: 11 -- mark: live from london, i mark barton. you are watching the european close on bloomberg markets. we will take you from new york to london to doha and send paolo. -- san paolo. talks in doha failed to bring in a freeze for oil production. we are live with the fallout. betty: time is running out for greece. leaders are working with the imf and meetings in washington to come up an austerity plan everybody can agree on. can a deal be reached before a massive debt payment is due? mark: the ousting of dilma rousseff is one step closer after a crucial vote in the lower house of cong

there was no deal in doha. what gives? plus, my homework is due. health care name that has been highlighted as a takeover target that i now like. change of plans. and the inl lightning around is just in. so stick with cramer! show me movies with romance. show me more like this. show me "previously watched." what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity. >>> here's some news that could be so crushing for you so cover your children's ears. i'm be perfect. i am neither all knowing nor all seeing. because someone will call in about a stock i don't know. because this is the most interactive show on television, i do the homework and get back to you even though stocks i don't really care about. my job is to respond to what you want me about to. for example, last wednesday, i was asked about aegn. that's a genuine stumper. this is a tiny company that is nevertheless the leaders in the infrastructure protection space providing lining that's prevent corrosion. hey, that means everythi

, live from the headquarters in doha. coming up in a few minutes, worsening conditions in refugee camps. the panic is real. >>> an israeli soldier accused of the killing of a palestinian released in a military camp. >>> myanmar's parliament votes to

all of this, a precursor in doha. what do the saudis not want to happen in doha?is their worst outcome? >> i think the worst outcome for them would be the meeting happened and some really negative sentiment came out of it. say a producer came out and -- that the deal is not on the table. we couldn't agree on something. they are just scared that price also back down again into the 20's. so they just want to prevent that. tom: they want to prevent it. do they have the power or the economics, the price theory to prevent it? i don't understand what their weapon is. >> no, i think it is a combination of factors. you are starting to see supplies drop, not just in the united states but in many other parts of the world including latin america, china, kazakhstan. they have that momentum behind them. they are trying to capitalize on that and ensure the status quo is preserved. keep prices around $45. they don't want a lot of upside either. that would bring the shale producers back but they don't want the prices to go down. francine: we may have some sort agreement can the p

no deal done in doha.ly the saudi arabians are cautioning that, wanting to see other producers like iran step up to the plate. they do not to give away their market share. this is tugging down equities across the board, particularly energy-related stocks, ftse up. shello have miners and among the big underperformers today. similar moves in the cac, down on the open. not one single stock is rising. totale among key losers. watch out for miners and oil companies. some of the biggest selloff in two months in the oil market as that depression sets in, marked by sub $40. we are seeing the fx repercussions, using the canadian dollar. u.s. dollar goes higher, canadian dollar goes lower. on flipside, we see buyers move into the havens. u.s. dollars higher in the yanis strengthening. yen, oncee on the again over performing, getting stronger, because of oil and the risk aversion, but also because of what jack lew has been saying over the weekend. is an orderly fx market -- don't do anything to intervene to weaken it

dollar doha, u.s.duction, as you said and look at the three of them, which is the most important thing to you in driving the oil prices? >> it's probably got to be doha. i am not expecting a lot to come out of it. y are at record levels. >> yes, in this situation with the u.s. stocks dropping -- we are talking about four days -- manus: it's production in the u.s. -- if you put that into context of the year, we are talking about $9.5 billion down to $9 billion. people are telling me that u.s. production dropping is an important aspect. >> absolutely. if you actually take on board the idea that global growth is slowing, and logically, demand for oil could slow as well. not necessarily, but you would expect it to. if that is the case, on the demand side of the equation, you don't expect to see oil going higher. unless they come production, i don't -- cut production, i don't think they will get higher prices. manus: dollar-jan. the whole world is absorbed with when will and will the bank of japan -- we hav

which is why doha freezes like a bridge to get there. just on the fundamentals when you look at the inventories there's going to be a lot of oil that has to seep out of those inventories. >> that's what our people said. 40 to 50 would be the range you see as we go the end of the year. some people were looking for 60 to 70. it won't happen. what will happen deal or no deal in doha we stay in this range of $30 to $45. freeze current at levels we're still producing. >> it can go down again? >> if they walk away -- it's interesting about their meeting in doha. something is happening here in washington, imf and world bank and concern about world growth. if you had a further slow down in world growth, perhaps plus no agreement then you see prices down. >> wouldn't you say, dan, that there will be nowhere in the world where there's a negative-interest-rate if oil is at 35? >> i think that's right. i have to reflect on that. >> right? negative interest rates, what the hell is that? that is globe that really is struggling with generating any type

that is ahead of the pending talks in ohio. -- doha.ided a floor for energy prices, but has traders thinking how much should we bake into those stocks. the growth number out of the world's second or first, fairly large economy, coming out. rishaad: thanks. big day for china. a flood of economic data due in 30 minutes, likely to see this lows pays of quarterly growth in seven years. even know, we may see signs that the slowdown is stabilizing. we have a look at that what we looking for here? >> maybe a slightly better number. growth has been better than expected, seeming to stabilize over the last couple of months, positive on real estate. better numbers on inflation, , economistsl told are looking for a 6.7% read. i think the mood at the moment is things are stabilizing, even if just in the short-term. rishaad: stabilization is what we are looking for, but the questions will be raised about the veracity of the data. economists will be all over it. all we can do is look under the bonnet. let's see how services are traveling, how consumpt

. >>> no deal in doha. prices fall as saudi arabia discovers a deal in tensions with tehran. >>> oil stocks lead the way lower in europe following sharp declines on the nikkei as japanese manufacturers shot the doors off a series of deadly earthquakes. >>> and looking to impeach the president rousoff who now faces the senate. >>> so let's take a look at how the european markets are currently faring. we have broad declines across the board, but quite tempered compared to the worst levels pre-market. the ftse 100 has its fair share of large oil majors including the likes of shell and bp, currently down .50%. similar to the xetra dax. there is concern about the italian banks and the rescue down .40%. we'll see if this is the worst. yes, clearly, the oil and gas sector down 2%, the biggest declining sector. tr travel and leisure up .90%. people are expecting lower aviation, auto is lower in the current session. we'll look at the individual oil names, we have total down 2.3%. shell and bp down 2.7% and 2.1% resp

plungeer big story, oils following the failure of the doha talks.doesrrett told play into iran's hands. >> the fact we did not get anything out of doha clears the case for what iran is intending to do. produce as much as they can to play catch-up. chris weston says it was unrealistic to expect iran to agree to a freeze. >> this is semantics. iran has not been at the meeting, they were never going to be involved. politically palatable. there is an opec meeting on june 2. if we see prices spiral out of control, perhaps they could use that as a stepping ground to undo much of this bad will. angie: a senior oil and gas analyst says the oil markets will be in a much more stable position by the next opec meeting. we --y disappointing that iran clearly were not going to cut this deal coming into this. int comes next, the meeting june, they will try again to see if they can agree to cap production. what will happen in the oil markets, we are moving toward a rebound market. demand is still relatively strong. as we get towards the end of the year, we will be

what are you expecting out of doha? will it matter in the scheme of things when we know it's just a handshake agreement and they could still cheat beyond the freeze they might be expected to agree to? >> great point, bill. the markets are looking -- they were hoping to get some sort of freeze there. the fact that iran is sending a lower level minister rather than a full fledged minister indicates they may not be on board. however the markets are just hoping for some good sign there. i see oil weaker today, bill and kelly, amazed you're going to love this. the partnerships since february 13th are up 26%. be selective. you can select some mass limited partnerships as well as energy companies that can keep their dividend. the bottom line bill and kelly, there's so much oil at curbing, oklahoma that soon if we keep producing like this, they are going to throw oil all over the place and that bb destructive in the price structure. >> put in every swimming pool in the country one executive said. we hope it's a cheery weekend a

what can we expect to see out of this this weekend -- doha weekend?w: i don't think you will see a followed -- solid freeze agreement. be,t of the takeaways will ok, we don't know what will happen in saudi arabia and production going forward. are too many ok things, too many questions left unanswered and the market has run up 30% since february. expectations are really high and they could disappoint. lisa: there was a survey of traders and analysts that showed it was evenly split with people thinking there may be a freeze or not an agreement reached in doha. what could they agree to this weekend that would materially change the outlook for oil prices? i think they will definitely avoid anything negative. iran said they would not stop producing. i don't know what they could say that would send this higher. they are solidifying the rhetoric from february and continuing that stance is the most important thing for them at this point to avoid material downside. thing that has been very important throughout the past 18 months has been the positioning of tra

bank officials will be gathering on sunday in doha. they hope to cobble together an agreement that would limit oil output. do we actually see an oil freeze? >> no. joe: thanks for coming in. guest: they have flagged what they are going to do. they are going to play nice in front of the camera, they are going to smile, everybody is there. can they be more specific about what they mean they are going to do? who is going to go back down to january production? january to define what production is, and how long would you freeze for? i think the market is looking for answers on. i doubt the market is going to get them. alix: i took a look at when we saw opec and non-opec members get together. now on both of those occasions, the production cut didn't really mean anything. oil prices kept rallying, despite the fact that this production cut didn't mean anything. does it matter not, does the fact that they are talking about it -- guest: the fact they are talking means they are not going to engage in a price war, means they are not going to engag

david: looking at the year today, we see that and then you mentioned pre-doha.you surprised by what happened last night? guest: no. from the start, we prescribed a 15% drop ability. we were very skeptical from the beginning. caught wasthings we we saw the beginnings of a change in leadership in saudi oil policy. thingre was one specific that was really important for the market to grasp, it was what is going on as it relates to oil policy. has come the authority on oil policy in saudi arabia. that is important. seen himhink i've ever say nothing after a meeting, so you are seeing a's low yet deliver it transition. what is important about that? opinionadfast in his that saudi arabia is no longer going to go it alone. he is telling the market that demand has to catch up with supply and that is important because the onus going forward is demand better stay on track and we go back to decline rates in the united states. talking about the doha meetings it was all political and saudi arabia was sending a clear message possibly to russia and possibly other members of ope

john defterios joining us live from doha as always.aded guilty to providing a false immigration document after the couple was accused of sneaking their two dogs into australia last may. >> two other charges against amber heard have reportedly been dropped. heard apologized in a video played there in the courtroom in which she and depp talked about the country's biosecurity law. take a look. >> australia's a wonderful island with a treasure trove of unique plants, animals, and people. >> it has to be protected. >> australia is free of many pests and diseases that are commonplace around the world. that is why australia has to have such strong biosecurity laws. >> and australians are just as unique, both warm and direct. when you disrespect australian law, they will tell you firmly. >> i'm truly sorry that pistol and boo were not declared. protecting australia is important. >> declare everything when you enter australia. >> a very serious apology there. for the latest on the case, johanna marie from our cnn affiliate sky news australia jo

. >>> hello from doha. this is "the newshour" on al jazeera. coming up. russia says one of its attack helicopters like this has crashed in syria. two pilots are dead. the turkish fire. >> in the turkish capitol with syria and isil. top of his agenda: u.s. health officials warn the zika is scary year than first thought. >> we will tell about sri lanka's plan to tbe the first country with complete 4g internet coverage. >>> we start, though, with developing news out of beb anon. a bomb attack at the pal stan ref uming e camp in south lebanon. we have heard this has killed a member of the fatah movement. it is believed an explosive device was placed on his car. two others who were with him at the time have been injured. this is a bomb at a palestinian refugee camp in lebanon which killed a member of the fatah movement. these are the first pictures we are getting from the region in south lebanon. we will bring you more as soon as we can. two stories out of syria. russia says one of its attack helicopters went down in homs province killing the two pilots. the o

wti, crude prices really gaining despite disappointment over doha. let's look at the boriss one by one here. and you can see how the trends are plays out. the ftsi 100. dax out performing. the french cac forty and the ftsi mib. the dow crossing above 18,000. higher by about .6%. this boosts the s&p 500 and the nasdaq as well. s&p. and remember, energy stocks one of the biggest gainers, despite dip in the oil prices. different look this morning. wti and brent both moving into the positive territory. 1.4% for brent. 1.3% for wti. and this comes after the steep drop off in yesterday's trade. the move higher is partly waged to an oil worker strike in kuwait. moscow is now considering increasing ill production. that's right. and that 540 million tons of output is a realistic level. hadley has been following all the developments in kuwait and joins us now. >> reporter: hey. i'm standing just inside the union of oil and gas works outside of the kuwait city. and this makes up about half of the work force here. what i'm talking about right now are kuwaiti nat

the news continues live from doha next.e a great day. ♪ >> announcer: this is al jazeera. ♪ >>> hello there, i'm nick clark, this is the news hour live from doha. coming up, risking everything to make it to europe. we meet the refugees who say they have nowhere else to go. >>> a fragile ceasefire in nagorno. we'll have the latest. >>> i'm tania page in south africa, where rising food