ramy: i am ramy inocencio. that we will discuss here on daybreak asia. on friday we are expecting the latest check on the u.s. economy with the release of fourth-quarter gdp. economists are protesting -- looking for 3% growth in business investment and the growth. i want to look at how this looks at the last decade. in terms of annualized growth we are 2.3%, but this is gdp growth under u.s. president. donald trump in the red, barack obama here. mr. trump wants to get us to 3%. if it does around here, it has not been consistently at 3% since the mid-2000 or so. we will have to see how that goes. the survey according to analysts, we get to 2.7% when that number comes out this friday. david: we could get there in the u.s., because the other story as well, when you look at japan, we are looking at inflation. to the liv-exs, start first, or does the boj get 2%? nothing at 1.9% on core inflation, we are ticking at -- looking at 1.9% on core inflation. bojstory is in japan, the and the inflation redox, not there for

ramy: we have to talk about inflation.n widely flagged as one of the key risks for markets in 2018. i know you have been tracking a top fund is a place to benefit from this. adam: this is really kind of the equities angle as to how you play the inflation scare in 2018. we've heard a lot about how bond investors can play this, they have been buying up plenty of tips and fixed income securities that could benefit from inflation, but in the equities space, the folks at dmv asset management in scandinavia have made some interesting changes to their allocation. let's look at the performance of the fund we are talking about overtime, this is 6026 on the chart. this has been a very good performing fund. certainly an argument worth listening to. their argument around inflation is that people are not pricing in the chance that prices do pick up faster than markets are expecting at the moment. they say this is entirely the wrong time to be making tax cuts in the u.s. and the economy will overheat as a result. they have dialed back b

ramy: and i am ramy inocencio in new york.fter steve reiterated his support for a strong greenback. while investors await president trump's first state of the union address. let's bring in a chief social strategist at societe generale. he joins us from hong kong today. kit, great to see you. your newest note you sent over, you're talking about if post crisis policies are demands of, fx appearance of calm in land is effective. they be you are getting ahead of me. g #btv, 86. the volatility index is in yellow. kit, talk to me about volatility rising. kit: the driver of low volatility has always been the low level of u.s. interest rates and the market's complete conviction that whether the fed orses rates once, twice three times this year, they are edging ever so gradually to a point something. they question that and say, what if they have to go to three point something? what would it do to equity markets and risk? there is an outbreak of uncertainty about where we are traveling to, as opposed to worrying about the speed we move

ramy: we will have to leave it there. chris: i think that is -- ramy: we are running out of time. you for your time. always a pleasure to have you. chris weston, thank you very much. plenty more to come on daybreak australia. this is bloomberg. ♪ haidi: we are setting up for a subdued open as trading opens for a brand-new year. looking at downside for the asx despite the pmi number coming at thisighest since 2016 morning. morning. haidi: it is 9:30 a.m. in sydney with the markets are opening for the first session of 2018 in 30 minutes. it does not look like a terribly spectacular entry into the new year. we have sydney futures on the downside of 4/10 of 1%. a pretty gray day in sydney. ramy: i'm in new york where it is 5:30 p.m. you are watching daybreak australia. let's get the first word news. you.nda: thank the biggest change in european investment industry roles in a decade take effect wednesday. regulators seek to prevent another financial crisis by boosting transparency and conflicts of interest. a broad range of asset classes and products including cash and derivative instr

ramy: thank you very much. of asia's biggest economies finished 2017 on a strong note, as chinese manufacturing shrugged off the initial campaigns against debt and pollution. while korean exports hit a 60 year high. our policy editor kathleen hays has the numbers. let's start with china. can beijing maintain this momentum? kathleen: part of the question is how aggressively the chinese government can pursue these big policy changes like pollution and bringing down the inflated chinese debt. for now, 2017 and 2018 look good. let's go to the chart because we want to look at the purchasing managers index that we got in the last day or so are. this white line is manufacturing at 51.6 in december. anything above 50 signals growth it is down a little bit from 51.8 in november. chugging along. not spectacular but definitely some momentum. i would like to point out that we had good growth in output, new orders and jobs picking up as well. now let's go to services -- nonmanufacturing at 55 in december, up from 54.8 in no

to the walltraight with ramy inocencio.ave to take a breath there saying all of those names coming up this week. just taking a look, i looked at the earnings analysis function just now, if you are an investor in tech stocks, it might be of interest to you that they have surprised the most to the upside apart from just one s&p 500 sector, the energy sector. looking into this, we might see volatility swings to the upside when these stocks do report. first, faced took -- facebook. in terms of revenue and earnings, expect a revenue popped by about 42%, but that could be the slowest pace since 2011. who is not going to take $12.5 billion in terms of revenue? thing is as revenue. the white bar is price per advertisement your per year, it has been rising the past three quarters. the blue bar is falling, that is the number of advertisements delivered, the advertisement load. one might circumvent the other but analysts are thinking this might compensate in terms of the higher prices facebook is getting even though they are deliverin

rami offers ice sculpture workshops with his support stephen moore and his wife transform a block of ice into and intricately. upside your it would be more difficult i didn't think it would be possible to actually carbon leaf out of a block of ice in just one hour the tile. ice is very brittle but little mistakes can be fixed using body bits can be reattached that are broken. as and when the tough to use either works in an entirely new light because now we know much more about this because we've used the tools held them in our own hands and tried it out see the one to texas that really gives you a different perspective on a soft works the tough one not easy and then quince tack it on all of us on. this dragon was carved from twelve tons of ice. in the village attracts visitors from around the globe at the bar they can order drinks in the rocks as the glasses are made of ice. guests can even marry here many couples tie the knot in the ice chapel. and there's an igloo restaurant. that i am either from inside the sixteen me there's having two hundred square metres of floor area and if y

so rami malek was put on screen by an arab. wendie and tony, definitely trailblazers.lways exceptions to the rule. but the reality is i haven't been given that opportunity. i had to write my own tv show to get on television. i have a deal from my own sitcom called if i can can with universal studios. i couldn't even get a guest role to play before i stared on my own show. that's how wants discrimination there is. so when we have breakthrough stars, people who defy the odds, it's because they defy the odds. it's not because there are genuinely more opportunities for minorities than white people on television. especially with disability. you said arab and muslim of course are not synonymous, and you are absolutely right, of course, but when it comes to the way muslims are perceived the american actor samuel ljackson says young muslim americans need to start telling their stories in the same way that african—americans fought and found ways to make films about their lives and experiences. do you see people doing that? is it happening? i do. i absolutely see people doing th

yvonne: ramy, thank you. disappointing sales, makes 2017 obama for hollywood. this is bloomberg. ♪ this is bloomberg. ♪ yvonne: 8:30 in singapore, a sunny start to our 2018 week. we are half an hour away from the opening of trading in the lion city. i am yvonne man in hong kong. betty: i am betty liu in new york. let's get to the first word news. >> the trump administration says it may impose new sanctions on iran as a number of people arrested in three protests. the white house says they are keeping their options open after president trump said it they are against a brutal and corrupt regime. nikki haley wants emergency session of the security council. great bravery for the iranian people to use the power of their voice against their government, especially when their government has a long history of murdering its own people who dare to speak the truth. >> an internet entrepreneur is defined china, refusing to turn -- to return to the u.s. to help a company he created pay off debt. he said he is staying in am

in sausalito, john ramis, kpix 5. >> that is what we need more of these days, good water fountains. for news throughout the evening, the latest always on cbssf.com. announcer: it's time to play "family feud." give up for steve harvey. [captioning made possible by fremantle media] [cheers and applause] steve: i appreciate y'all. thank y'all very much. i appreciate you, folks. thank you. well, welcome to "family feud," everybody. i'm your man steve harvey. [cheers and applause] got another good one for you today. returning for their fourth day, with a total of 21,275 bucks, from right here in hotlanta, georgia, it's the champs, it's the cater family. [cheers and applause] and from ledyard, iowa, it's the jorgenson family. [cheers and applause] everybody's here trying to win theirself a lot of cash. and somebody might drive out of here in a brand-new car. [cheers and applause] let's go meet the jorgenson family. hey, miss diane. diane: hi, steve. steve: girl, you finally got here. diane: i did. i'm so darn excited. steve: i bet. i can tell. how long you been wanting to get on the "feud

ramy: while china is the words -- world pause biggest producer of solar panels, it is also the biggest out my bloomberg terminal chart. at all the red bubbles, this represents all of the solar panel plants in the world. you can see the bubbles are pretty small in the united states. the biggest number is 689, we are talking about the solar power plants that provide something like 40 megawatts of power which could power a small village, 25 megawatts in the shape of a panda up in the north you may is really why not be seriously threatened. let's look at the board because china according to his ministry of congress is dissatisfied, also investors are dissatisfied. these are asian solar shares trading on u.s. suppository receipts. ja solar, you can see all this down. check also is down by 8%, hitting a july love. is not a chinese solar, this is korean solar, a testament saying that these possible tariffs, these ones that will be coming out will not affect just china but other exporters out there. let's flip over to the side of the screen and i will show you the second bloomberg terminal cha

linnaeus until. -- ramy inocencio.se of representatives committees says they will release this classified republican memo alleging bias and abuses in government surveillance of people surrounding president trump. conservative congressional republicans say the fbi and justice department pursued the investigation of possible kremlin price to the trump administration under false pretenses. >> i think we have crossed the deeply regrettable line in this committee when in the first time in the 10 years i have been on the committee, there was a vote to politicize the declassification of intelligence and compromise sources and methods. ramy: to asia now, and indonesia is latest to criticize president trump's reductionist drive. told bloomberg his policies are potential setback to decades of progress. globalization has helped reduce policy. she added indonesia relies on the global market and trade is not a zero-sum game. >> the current protectionism language is definitely going to create a constant. globally, there will be a se

let's head to the wall with ramy . what happens, explain to us the numbers. the reason we are seeing this pop to record highs, a were in estimates with earnings-per-share. one interesting thing, we will be looking ahead in terms of corporate tax reform because of the top we are seeing for jpmorgan. wells fargo a different story, there are litigation charges their links to the account scandal. first, the big weight from jpmorgan and other banks this week, trading revenues. we knew this going in, the same situation in q3. this is for 289. -- 4289. we know the numbers for fixed equity for jpmorgan. than anyhart, lower other blue line, also have a billion -- half $1 billion less than what analysts were expecting. we were reporting on friday this could lead to job losses, so we will be looking ahead to see if that comes to fruition. we revenue was mostly in line, 1.1 5 billion, but with that said, it is also scraping the bottom of the barrel. let's flip up the chart come i want to show you the positivity for corporate tax reform. you were talking about this earlie

syrian president bashar al assad is not mentioned in the files either however the fact that his cousin rami makhlouf is mentioned aloud does so though it's as i to newspaper to publish a shocking headline. shell companies helping us sounds war. have known that information will be weaponized in certain hands and what made him approach the journalists noble motives financial greed wolf if it is life. and his job. who do you think dan. journalist and political scientist pepe escobar remains convinced that the panama papers targeted certain countries from the start. and ask about states to conceal the investigation's real purpose references to a political celebrities like jackie chan emma watson and you have no truly were included. down there on the other side we're talking about sixty act of the big brother to a. racing driver ya know truly retired long ago the exchange the smell of burning rubber in the roar of engines the fresh mediterranean area and his own fragrant winery. these are called tono how many people in all body ok the bikes is normally age wine but the journalist wouldn't leave

i am ramy inocencio.. ♪ yvonne: thank you, we're counting down to the market opening in tokyo. sophie is here. ahead. a big week have reports, we also have the cryptocurrency heist in japan. sophie: you might also see more jitters and that space and japan, where looking to see if there was any stock exposure to digital currencies, they have perhaps come under pressure after point check shut down on friday. -- after coin check shut down on friday. it said it will use its own capital to reimburse customers, but angry investors at their offices demonstrating their displeasure at the latest moves. we are watching specifically for a remix point, the president said it will list cryptocurrencies in an effort to win over customers from coin check and bitcoin is applying licenses to list new coins and provide the new wallet software to hold the assets. it is expected to take 10 days to two weeks. betty: turning our attention to sydney, aussie stocks starting the week of a stronger footing, falling from what we saw

thoughts, ramy? ramy: it seems that way.here bitcoin has done for the past few months, you can be a bit more understanding. taking a look at where he said those comments, that was on september 12 here it followed the white line annotation and you can see it's up about 238% since then. down just buy a couple percentage points today, but you can also take a look at where it has been at a peak. we can see there is some remorse in terms of what jamie dimon said a couple of months ago because of these two huge rallies. let's flip the board and see what he actually said. he said the blockchain israel and a lot of people said the blockchain is real. it helps transparency in transactions if you have them. he goes on to say you have crypto yen and dollars here it he goes on to say he just has a different opinion than others and he himself is not interested much in the subject at all. i am interested if he will change that as well if it continues to rally higher, but one person who is pushing orward is mike no progress -- a famous wal

rami offers ice sculpture workshops with his support stephen mont his wife transform a block of ice into an intricate. upside it would be more difficult focused i didn't think it would be possible to actually carbon leaf out of a block of ice in just one hour the tile. is very brittle little mistakes can be fixed using body heat bits can be reattached that are broken all. this dragon was carved from twelve tons of ice. in the village attracts visitors from around the globe at the bar they can order drinks in the rocks as the glasses are made of ice. the guests can even marry here many couples tie the knot in the ice chapel. and there's an igloo restaurant. eating here is a curious experience. it feels really good we had to be say cold and holding his essay cold and have been told keep it you kept us on a main to eat from it this week will be pretty quickly as it gets cold said quit talking. with mark. i didn't mean to do any good and you can like stick to it you put your arms or anything on it will hold. guys art is a hands on experience but by april temperatures began rising and the bea

event rami says many people asked why the cooper are only has two hundred twenty kilowatts of power just seven more than the regular cooper he says there's any easy explanation for that the seven kilowatt sort of the amount needed to compensate for the car's added weight while maintaining the performance you'd expect from a copra. and had to deliver all that power to the road the cooper are comes equipped with a hydraulic and electronics so working differential so if necessary all of the drive torque can be directed in just one front wheel. with all that power around he says the cooper our lives up to its company you can see it's relation to the leon cup racing touring car too. because that cooper are doesn't just have a more powerful engine it also has a race here exterior striking features include the mac grade body paint and lots of copper colored accents and carbon fiber frontal lip spoiler improves head like wow large brembo brakes make it easy to keep the cooper ari's power in check. at the rear the exhaust system is integrated into a carbon fiber diffuser as with race cars this he

built entirely from snow and ice the snow village covers some twenty thousand square meters ice artist rami taco is one of its creators. for me experience that i'm living my dream here in la i swore i would be by the nature and i can verify with the material which is even bringing me closer to that nature and it feels so good to be able to share this experience with the guests who obviously being a misnomer it's. this year's theme is game of thrones artists have carved characters and scenes from the hit t.v. series out of ice visitors can even spend a night here. guests staying in one of the ten igloo suites can sleep beside a white walker character. the body heat of two guests lets the temperature inside the igloo rise from minus five to zero degrees celcius the creators recommend spending no more than one night in these frosty temperatures tonight for two costs three hundred fifty euros. stephen marr and his partner lena zagel spent a night here curled up in sleeping bags suitable for subzero temperatures and additional fleece leaving banks comfortable hardly. office although i guess that

well i think that i agree with a lot of what rami horia just said i think the trump focus on iraq is in many ways the key to what is happening elsewhere including with saudi arabia i think it's important to recall this at this stage that can trump became president his first foreign visit was to riyadh that was an amazing thing to do. why why why go there why not go to moscow was a beijing go to london or to paris somewhere far more obvious in terms of american global relationships trump went to riyadh the saudis were absolutely ecstatic that decision and beat what he said and what he said mostly was about iran and it was about undoing what his heated previous tests about obama had done and that was the twenty fifteen nuclear agreement the saudis were absolutely over the mood at that and i think that a lot of what has happened since then flows from that moment from that initial delighted reception of trouble in riyadh whether it's moves on iran or the green light as people have often called it for the cash a crisis in the country a crisis it's worth pointing out of course that trump a

rami offers ice sculpture workshops with his support stephen moore and his wife transform a block of ice into and intricately. as it helps i knew it would be more difficult for just i didn't think it would be possible to actually carve a leaf out of a block of ice in just one hour the. ice is very brittle but little mistakes can be fixed using body bits can be reattached that are broken all. as and when the tough to use either works in an entirely new light because now we know much more about this because we've used the tools held them in our own hands and tried it out see the one a few taps of that really gives you a different perspective on works the tough one not easy and then can stack it and all and it's out of. this dragon was carved from twelve tons of ice. in the village attracts visitors from around the globe at the bar they can order drinks in the box as the glasses are made of ice. the guests can even marry here many couples tie the knot in the ice chapel. and there's an igloo restaurant. and i am either from inside the sixteen me there or she's having two hundred square m

ramy: it might. especially with china being one of the biggest oil consumers in the world.ng that for this year, for 2018 they are seeing growth but not as much as 2017. it is nearly 6% for 2017 but while we are looking at that, we are looking at what is happening in terms of the output coming out of china and whether that will go up or down. this is the first of three bloomberg terminal charts. it is coming off a seven-year low, rebounding over the past month. we are winning for the december month -- december number to the upper down here. this will have an effect on oil prices. here is the forecast for the oil price. wti crude is around the $64 mark and brent is around 69 but take a look at where we are now relative to 2017. during 2017, while we are seeing this number, this average here, we expect 2018 to be 10 or 20% higher. that takes us to 60 or $65. you are probably saying we are at $69 now. they also give it some wiggle room. there is a floating range between 50 and $75, a big ranch there. taking a look at technique -- technicals. lined forretracement the 50% line,

ramy inocencio with a preview and the charts we need to know. ramy: he has a choice to make.hip away at the deficit. or two, add to the deficit by infusing the voters that he calls his base. take a look at what is happening behind me, #btv. we are taking a look at 6.3% growth. we are not seeing much great growth that we have been seeing ever since 2015-2016, but the lows we are seeing from 2014. the big thing for this is a of bond investors are thinking that the finance minister will not stick to budget plans, because this is the situation. slowing gdp growth. we are thinking he might not actually pull ahead with continued budget reduction. to my next bloomberg terminal chart, #btv 1013, this is a look at the debt to gdp ratio for india. for 2018 andecasts 2019, 3 .2% 2018, 3% 2019. analysts are thinking this is not going to be the reality. for example, b.i. came out with some numbers. 3.5% is what they are thinking. hsbc thinks india will come in at 3.4%. for 2019, bloomberg intelligence thinking they will be up by 0.2%. owing to the fact that budget reduction may not be in

hard life even harder a seven ptolemy as a former policy adviser to the palestinian prime minister rami honda he says cutting aid to the palestinians will have a major impact on refugee camps in the region. the palestinian government and policy on leadership always express willingness to go back to the negotiating table but not for free they as iran has been violating the palestinian rights all along and they have been violating all of their agreements that the palestinian authority have signed with rail cutting aid to the palestinian people will not make them bow to the as riley and the american will and cutting aid will not only affect palestinians but would also affect. the neighboring arab countries because if you i'm sure all of you know that we have thousands and tens of thousands of but it's. in many other countries especially in syria and lebanon and jordan and cutting aid to pay to see how refugees will also have a dangerous time if occasions not only in palestine not only on the palestinians and israelis but also on the region as a whole and that the u.s. is the biggest contri

ramy: the theme right now is the dollar.ing about that a little bit more with this chart here, the white line is the bloomberg dollar spot index. of 2017, it is actually down 11% and in the past month, the dollar spot has fallen about 3%, on the see in four days of risers end rest of them have all been down. that has had an effect on that number of commodity index, here in the color blue. -- it has risen the most every single day, just down three days the entire time. the dollar is at a three-year low, as was mentioned before, but with that said, the yuan is actually at a two-year high. also of course helps china, because it is the world's top metals consumer. it gives it more purchasing power, since it is not using dollars to buy these things. if we going to the import movers that we are seeing right now, the first one is copper. g #btv 2935. the white line you are seeing is the price of copper, and as you can see, the last time it was this high was 2014. three to four years ago. as you can see, in terms of stockpiles, thos

ramy inocencio has a look at what we should expect.ue as well as income to come in up 42%. what is going to be in focus is at revenue. the interesting thing here is that you are looking at the white bars and that is the price per ad. that is rising and that is a good thing but we are seeing this fall here. some analysts think this will compensate itself. even though that is falling, the more expensive ads my compensate. facebook report its earnings. cominglooking at amazon out with an estimate of 37% in terms of its revenue. that could be the best growth since 2009. we are looking at some better than expected holiday sales that will have an effect on the green bars here. that is what is happening in terms of online stores. we will be looking at what is happening in terms of amazon web services growing higher at 10% in terms of revenue there and that is recast of scripture and services are you prime movers out there also contributing to 5% revenue. but see how high and how far that is possible later on this week. let's head over to appl

people will then walk to saint ramis catholic church on shannon avenue. >>> coffey park, they are celebrating the end of the cleanup of fire debris. yesterday the last truckload of debris was removed. most of that was done by the army corps of engineers and contractors. debris was removed from more than 1200 homesites in coffey park. now the owners of those properties can move ahead with rebuilding. >>> it's time to check back in with sal on the traffic . >>> i just noticed -- i'm looking at a picture i will show you when i click on it -- this will be highway 101 in san rafael. traffic is busy although it's moving. what i'm looking at our shot that i pick to show you. the fog is not really an issue although i do see a whisper fog near the civic center. i don't think it will be a big issue for drivers as you drive south it looks okay. across the bay at the macarthur maze ec traffic slowing down. the drive time between the company's bridge in the macarthur maze has gone up to 25 minutes. add 20 minutes to that if you were waiting to get onto the bridge. this is all within the realm of normal tr

ramy inocencio with the latest.as prices surged to a three-year high. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in sydney. rishaad: i am rishaad salamat. looking at crude oil, brent nearly $69 a barrel. barrel.50 a the market has been tightening and the worldwide glut continues to shrink. we have our energy guru with us now. >> it seems to be a continuation of stockpiles declining. andhe u.s., the forecast the industry data from api overnight shows a decline. if that is replicated in the government data, that will be the biggest since 1999, so it is a trend. the market likes it. prices are at three-year highs, and it does not look like they will abate. opposed to ad as temporary set of factors? >> it is a good question. there was some resistance around $62.50 on the chart, but it has pushed through and held those gains. it is hard to see where it may stop. the factor that may prevent it from climbing further is u.s. is 9.8and u.s. shale million barrels a day at the moment. that co

the occupied west bank is a fun seller is a former policy adviser to the palestinian prime minister rami he says cutting aid to the palestinians will have a major impact on refugee camps in the region. the palestinian government and policy our leadership always expressed willingness to go back to the negotiating table but not for free they as a trial has been violating the palestinian rights all along and they have been violating all of their agreements that the palestinian authority have signed with as a real cutting aid to the palestinian people will not make them bow to the as riley and the american will and cutting aid will not only affect palestinians but would also affect. the neighboring arab countries because if you i'm sure all of you know that we have thousands and tens of thousands of but it's. in in many other countries especially in syria and lebanon and jordan and cutting aid to produce you know refugees will also have a dangerous time if occasion is not only in palestine not only on the palestinians and israelis but also on the region as a whole that the u.s. is the bigges

complicated and a very international conflict ok stephanie decker thank you for that update let's bring in rami who he is a professor at the american university of beirut is also senior fellow at harvard kennedy school joining us from beirut itself thanks for speaking to us on that point that i made that he had an agreement with the russians when it came to. what would the russians have gotten in return would there have been a trade off there. oh presumably that the russians would dump would do it affirms that they are the final arbiters of what happens militarily in syria particularly in northern syria and they would probably also affirm that they will be the ones who will figure out what happens in any kind of political transition in the future if the turks are allowed to push back the kurdish groups and syria that doesn't particularly matter to the to the russians but it means that the turks and the russians will probably have much more from the ability to agree on future transitions in syria with the iranians iran turkey and russia are the three most important parties right now who are enga

later in two thousand and sixteen joins us now via skype from mauritania is capital know that shot rami to welcome to the program first of all let me ask you what your reaction to donald trump's announcement is. i think you're late for having me. actually it's very bad the lady said the million dollar day for whom allowance. for this and him being this complete disregard and complete contempt. to all of the rule of law and to all of this part of the world who i am is just beyond him i really said i wish people decent people around the world can do and or poor as it of course donald trump says it is necessary in the climate current climate to have a facility like this to have a facility where enemy combatants can be kept. i know people who agree with donald trump we called him in this part of the world extremist they completely agree with him they want places like greece were called for. fight against the so-called. and yes they agree with him but decent human beings regular muslims in this part of the world they don't war that they don't who are not only young people to be kidnapped and

ramy: it is proverbial, not literal. it definitely is rising.ice here come $63 and change for wti crude. it is because of what is happening in this blue area. this signifies the u.s. supply of wti crude. look at where we are. it has fallen by 5 million barrels. the exact number here in total for u.s. applied is 420 million barrels. hass not the first time it fallen. it is the age week in a row it has fallen. still, we can see that drop is pushing the price of wti and brent on the order of a couple percentage points. nearly one percentage point. let's go to g #btv 3826. as the price rises, we are still expecting global demand to continue pace through 2018. especially the world bank raising its global force -- forecast. with that comes increased demand for oil. looking here, the financial crisis, over the past 10 years it has been rising. barrels a daylion is what global demand is looking .6 million now -- 98 barrels a day is what global demand is looking like right now. it seems like people are bullish in terms of brent crude. record bullishness.

ramy: that me walk you through two charts, the negatives, and some silver linings.the blue line here is the share price on a normalized basis. area is during the tenure -- you can see it rose by about 40% up to the start of 20, and then it was down. , just when wee started in the early part of october until now, the share prices lost a third of its value. a lot of investors wondering what is going to happen with turnaround and asset disposition , and also if there could be a breakup in ge, as reported and rumored. let's go to another negative chart, analyst recommended. -- 12ite line is they month price target. you could see the current share price is even lower than that. for the white line, this is the the past eight years. before earnings happen, you saw a flurry of activity when analysts were lowering their recommendations. the silver lining is that the current price is lower than the price targeted, so possibly there might be some positivity, will have to wait and see. that's get into positivity, does the financial function for ge. take a look at the orange bar

evan: some of it is the easing of political risk ramy a in europe.the system -- risk premia in europe. we had the systemic risk of countries leaving. the upcoming election that we have, the italian election, we do not think that presents a systemic risk. it would be difficult for a eurosceptic party to gain power eases,, so as that risk that should help european equities. alix: let's talk about theciti -- let's talk about the citi call, the best performance of european stocks relative to the u.s. in 13 years because everyone is underestimating economic recovery in europe. goldman sachs says the stocks are so did dependent -- dependent -- which way do you see it? or do you have a third way? evan: i would say we are closer to the view that european equities have more to perform. in local currency terms, i am not sure they will be the u.s.. we mentioned a very positive view on the u.s. economy and on tax cuts, but as a dollar-based investor in european equities, you do get the euro appreciation which we are expecting to be pretty gradual. we expect the

ramy inocencio has the details.nd for oil will rise this year, but not as much as last 6%r my 4.5% versus nearly for 2016. that could have a knock on effect for demand when you consider how much china needs. is 5312.chart we are looking at demand and output. china is nowom rebounding off a seven-year low. you can see that here in the white line. we will be watching to see whether december goes higher or lower. they also forecasted that oil prices will rise 10% to 20% from 2017. tot means we will see $60 $65 oil. they are taking into account the entire average of 2017. we are seeing this come off , so weow by 1.5% or so will want to see where that follows. technicals,t about 6825. when someone on twitter was saying you cannot follow these things, but i will give it to you and you take it with a grain of salt. this is fibonacci retracement coming to the 50% line. last time it hit that was 2014. thise almost there, but retracement line is an area of possible resistance. you look at the past 24 hours, that could be prov