wti at $49.86. vonnie: a warning from shins oh on they asked the g-7 meeting gets underway in japan. jodi schneider is covering the meeting. zo abe-- shins o abb -- this points to domestic issues in japan as abe has repeatedly said that he will raise the sales tax in 2017 unless a major earthquake occurs. the prime minister was indicating that he wants to postpone the sales tax. the last time the sales tax was raised in 2014, japan fell into a recession. vonnie: that was jodi schneider. she is reporting from tokyo and the g-7 meetings. david: markets are closer to willving that the fed raise rates in july. michael mckee is cohost of "bloomberg surveillance" on radio. what do you expect to hear? fed officials are not under communicating their response. tomorrow, janet yellen is likely to be talking more theories and practice. that will be key to understanding her thinking about the economy. bullard and jim speaking -- bullard says growth is slow and inflation expectations are slow, but markets are st

wti, 49.22.n: to our viewers worldwide, good day from midtown manhattan from our global headquarters in new york city. global -- wti trading higher, higher since november 2015. equitiesositive, rallying with the dax of 1.5%. futures in the- , dow futures up 69, s&p futures up 1/10 of 1%. .et to the other board quickly look at how it is reflected in the fx market. that is your temperature gauge for risk sentiment, a weaker japanese yen. 111.49, up about 1/10 of 1%. yield unchanged on a 10 year. some decent demand on the two-year. yields along the curve shifted higher last week and signs have flattened just a little bit over the past couple of days. high, marching toward $50 a barrel, up by about one of half percent. it is time for battle of the charts. abigail doolittle taking on mark barton. mark: two big words -- greece and debt. greece is going to get a 10 million dollar -- 10 euro -- 10 billion euro payment, and creditors have kicked it into the distance that is 2018. yes, there will be some d

we're down a little further for wti, 43.6.s we said, we saw declines of about 2.5% yesterday for wti. part of that was down to the u.s. dollar, which we'll come to in a moment. first, with the bond, let's have a look at the ten-year u.s. treasury note. we did see yield compression. we saw significant buying on a risk-off day pushing it 1.78. back to 1.8 as i speak. as i said, the dollar was an important factor yesterday. broke its recent trend of weakness. saw a bit of strength and that hurt risk sentiment across the globe. both for equity it's and oiies . the pound losing about 3%. disappointing manufacturing data out of the uk yesterday. we also got the euro basically flat. 114.9. a bit of u.s. dollar strength today, 106.8. let's have a look at the gold price quickly. it's down 0.6%. 1283. >> the question, i guess, for investors is, did that rally from the mid-february losses on the year actually showcase fund men strength in the economy? in other words, are the markets and the economy telling the same story? and this mornin

wti is above $45 a barrel. 45.58.rent the international benchmark up 46, almost 1.7% or so. >> wti down last week for first week in five so the gains today up 2% taken in perspective of that. we are not soaring higher. >>> we also have another major oil story moving the markets having to do with energy. that would be a cabinet reshuffle in saudi arabia. on saturday the monoaror can i announcing that the oil ministry is leaving his post after 20 years. hadley gamble is joining us this morning from ryadh. was it expected and what does it mean? >> reporter: well, it was expected over the long-term, but really what we are talking about now is the saudi super team. and that is 24 ministers now charged with revitalizing this country's economy. of course, this does now include the new oil minister named khalid al-falih. he was the chairman and ceo of aramco as well. ali al-naimi was taking an emotional farewell from colleagues at aramco and is moving into a position where he'll be advising the royal court. and the new pin st

but today we are seeing a rebound in wti and brent. both the wti and brent up 1.14% driven by wildfires in canada. and saudi arabia announced a major reshuffle in the government. the kingdom is replacing the energy minister. that's al-naimi there who has been on the job since 1995 and long seen as the market kingpin. now the current chairman khalid al-falih will be the new head of energy ministry. he's expected to lead the sector as part of the post oil economic overhaul. he's already vowed to maintain stable petroleum prices, so in many ways this was a move some saw coming for quite some time as we talk about the reformation going on. >> we knew that al naimi wanted to take an exit. but i'm not surprised, we'll talk more about that in a second. >>> in the space of oil, the wildfire in canada has knocked down over 1 million barrels of oil per day according to new estimates. this equates to over a third of the country's output. firefighters said the winds are moving in their favor but the blaze continues to rage on and the officials war

that is the disruption that is happening in canada and it is affecting the wti markets. that leaves the wti not having a major impact in brent. that is why we have seen them as a parity. vonnie: will there be an advantage to being the first part back to market? will there be a rush? javier: i don't think there will be a rush. i think the companies who will be rushing are those in a more difficult situation. those countries that are getting calls from banks saying hey, the market is that $50 for 2016. do it now. because that is what the bank wants you to do. there are companies who will be hedging earlier that will put pressure on the market. companies who have more financial breath, a better balance sheet, they will be waiting. for now until the end of the year, the trend is going to be choppy but it will be upward. withose shale companies the balance sheet in a better shape, they will be waiting for next year, later in the year, when rent will be up higher. vonnie: javier blas, thank you. coming up, we have a look at retail stocks and shares are plunging after first qua

down again today about 2% for wti. >> here we go again.he federal reserve hints and investors react across assets. stocks commodities, bond, and currencies. and then the question is. does the federal reserve react to the market panic. is it going to be pronounced enough for them to get cautious again? because we went through this whole exercise over the last year. >> i think the key from yesterday is there was a very pronounced reaction in the dollar, very pronounced in the bond market but that wasn't in fact that pronounced in the equity market. all three indices ending basically flat. yes we've got asia down now, europe down now and futures as well. but in fact yesterday itself we recovered from the lows to finish basically flat suggesting the equity market may be in fact more prepared. >> or maybe they are not buying it. that the fed is going to go in june. it comes one week before the referendum. they are still watching china and with the dollar spiking overnight china's currency is down for the second day in a row so we'll see how the

wti up over 4% through much of the last hour. wti $45 and $.67. , 1.78%.t of earnings. matt: there is a lot going on in today's market. let's look at the major indexes. we are looking at gains across the board, not huge gains. at 2054.ight now take a look at the industry groups that are moving. -- mostsee that we have of the groups are gaining. consumer discretionary stocks and utilities are down. jeff gundlach yesterday was saying short utilities. --ill take you about all of talk to you about all of those calls in just a minute. , lot of earnings moving individual names, mark topped even as sales revenues fell -- merck topped even a sales revenues fell. the stock is down to and a quarter percent. tesla brushed off a q1 net loss as they announced a production plan that will speed up the 500,000 car a year goal two years by 2018. investors look relatively confident. tesla shares up about 1%. the rest of us are pretty skeptical. fitbit is hurting after saying its earnings will miss estimates. fitbit getting absolutely pummeled in the open, down 13%. alibaba

wti down. brent, 46.8.ut that has been a big boon and a good couple of weeks for oil. >>> we've got a lot of economic data to look forward to this week. kicking off today we have the april ism manufacturing index, along with march construction spending. there's been a lot of talk that manufacturing has bottomed in this country, so we'll be looking for a better number there. for friday, look out for non-farm pay rolls. the ism services index. and the april non-farm pay rolls, this is the last of the heavy week of earnings season as well. among the highlights, aig, fo s pfizer, alli baba and merck. >>> on jobs, we've seen better job growth, which is really interesting, compared to a very weak economic growth. that gdp in the first quarter, 0.5%. can the momentum continue in jobs? and can we see higher quality, better paying jobs with higher wages? >> even so, i don't think people are expecting a june hike anymore after the fed was cautious. so it's a big week always when you get the non-farm pay rolls. but pe

wti off about 2.5%, slid to only about 1%. and today we are down about .3%. buying of the u.s. bond market as well. we're at 1.75% on the 10 year note in terms of yields right now. the dollar which had bucked its weakening trend earlier in the week and had three days in a row of strengthening is again a little bit today. quick look at gold. a decent enough week. still shy of 1300 at 1282. >>> joining us now is jim o'sullivan. good morning to you. great to have you with us on this jobs report. 205,000 the number we're expecting. do we see a move? >> i don't specifically forecast the dollar but in general if we keep on getting 200,000 plus per month unemployment, chances are the fed will have to come up to tightening and that's probably dollar positive again. but certainly i do expect another pretty strong employment report this morning. >> beneath the surface there are other good nuggets that come with the jobs report from wages to participation. what are you going to be watching closest? >> i expect a pretty broad based set of numbers this morning. t . unempl

in oil, wti crude dropping in prices, settling $43.55 per barrel.tors are looking at data showing verizon stocks by -- the rising stockpiles of the highest level in 80 years. turning our focus to pakistan, in a new book entitled -- banking to politics, an insider's account of running and working in one of the world's most challenging places. he spent 30 years at citigroup, where he rose to the job of executive vice president. i want to welcome the former prime minister here. let me ask you, first of all in the wake of the release of the panama papers there have been calls for the current prime minister to resign. are you one of those calling for his resignation? shaukat: no, i'm not, because we don't know all the facts. holding her company overseas assets is not something unusual. how the assets were acquired and what the source was, that's something that needs to be looked at. but i don't think we should make too much of it. thature the family knows they've earned a lot of money in business dealings overseas were several years and have had enough r

wti up ever so close to that 50 dollar barrel level. of course after brent cross-ed $50 a barrel last night. coming after a surprise draw down and we are seeing a pair back on the dollar. meanwhile, staff in 19 french nuclear power plants have joined countrywide strike action again today. nuclear provides up to 75% of france's electricity with grid operator rte warning the disruption could lead to a 4 gig watt cut to power. in response to proposed labor reforms by the government which gives greater freedoms to reduce pay and higher and fire workers more easily. >> apparently 40% of petrol stations in pairs are struggling to get fuel. 40%. >> unbelievable. >> e-mail the show. the e-mail address is "street signs" europe cnbc.com. we're also on twitter. >> i'm@nancycnbc. >> and i'm at louisa bojesen. >> etoro. joining us to explain is ceo. great to see you. we've been talking about your platform. you are now offering commissions to the traders on the platform. walk us through a bit more how this works and really how you are getting regulat

oil still high for brent and wti. wti and brent trading just so close. and there was surprise on u.s. stocks with support for oil. strong data particularly on the housing front. for once, good news on the data was good news on equities as well. let's see how the factors are playing out on the asian markets. sri jegarajah joins us in singapore. >> good morning. in the asian markets, it's down to the firmer lead on wall street overnight. the markets like the data. and the markets like the fact that oil prices are seven-week highs and we saw that move extend into asian trading as well. energy and mining space were big leaders sectorwise. the market seems to be doing a pretty amicable job. the higher dollar involvement that weighs concerns on appreciation appreciate on the currency, on the chinese yuyuan. and the markets not liking that particular potential threat and potential development. china is going to remain in folk use in the markets near term. back to you now, ladies. >> sri, thank you very much. sri jegarajah live from singapore. we need to take a

we have wti, the price of oil pretty stable at $46 21 cents.t is up by 3.5% in the session, dropping u.s. supplies and stockpiles to blame for that. is worth giving an eye on. weakening a touch this morning, toyotas president keeping the pressure on japan, in regards to the currency. saying the days of easy profits are over. dollarcourse versus the year today. and the australian dollar in their down around half of a percent really reflective of that lack of risk appetite over 24 hours or so. let us get the bloomberg first word news. we are joined by rishaad salamat from hong kong. rishaad: brazil is slogging towards impeaching president dilma rousseff. debate has gone through the night, meaning the vote itself may not come until around dawn local time. 81 centers voted in favor. she will be suspended and put on impeachment trial. nissan and mitsubishi motors say they are in talks for a possible d theal tied up, ami fuel economy standards. the separate incident on the stock exchange occurred because no decision had been made. people familiar wit

wti 49.84. >> and later in the show the fact that brent is above wti. get his perspective on how long it might hold this time. let's check knob global market this is morning. europe mixed. just lost a little steam in the last half hour or so. most of the markets are negative. not too pronounced. germany is positive. and spain is down because the banks are down significantly. banco popular had a rights issue and down about 20% weighing on the sector more generally. europe over the course of the last week very nicely positive. the stoxx 50 is up 4.7% the last week alone. a little bit of profit taking happening today as you can see. asia also similarly a bit of gains but not in all of the markets. as you can see we've got about a quarter of a percent for shanghai. japan basically flat. both in europe and in asia, energy and commodity related names doing well after this oil priced rally that sara has already mentioned. >> broader market picture across bonds. the 10 year treasury note yield has been making moves higher but really still stuck in that 180 rang

session we got a rally of more than 3% of the wti. so there we are in the green again with wti above $46 a barrel and brent crude nearing 48. >> rm both contracts. our european equity markets this morning. seeing a little bit of red. we are just lower by just shy of a half percent at the moment. our main european equity markets having been a little mixed earlier on. but most of these equity markets are somewhere around the flat line give or take something. >> and massive selloff we saw on wall street. the sharp sell -- >> retailers. >> exactly. >> -- in there. >> consumer effect there. we'll get into that more later on the show. here we want the view on some earnings here in europe and europe's negative rates are taking a toll on italian insurer. they have posted 12% drop in the first quarter compounded by fewer capital gains. the company's biggest insurer also saw net profits dip to 588 million euros. at aegon is company posted worst than expected first quarter profit. and other insurers this morning. [ slow down ] sees softness acro

here is a look at wti crude this week.e "bloomberg markets" coming up here on bloomberg television. ♪ show me top new artist. ah, ha ha. show me top male artist. my whole belieber fan group. it's not a competition, but if it was i won. xfinity x1 lets you access the greatest library of billboard music awards moments, simply by using your voice. the billboard music awards, live sunday may 22nd, 8/5 pacific, only on abc. david: this is "bloomberg markets." let's start with the headlines on the first word news this hour. mark: three european security officials say the passenger manifests from egyptair flight known names ono the terror watch list. online and has not been officially verified by egyptair. flight 804 was carrying 66 people from paris to cairo thursday when it disappeared over the mediterranean sea. senator bob corker scheduled to meet with donald trump on monday. corker is reportedly being considered as a potential trump running mate. mr. trump appreciated the to his speechtion on world affairs back in april and

gaining for a second day on wti and bread. wti -- and brent. wti just shy of $45 a barrel.ires in canada's oilsands region cutting output. u.s. output is at its lowest since 2014. we are seeing that data from yesterday pushed oil higher today. anna: hong kong property stocks have been downgraded by goldman sachs, which critics a 20% decline in home prices as borrowing costs rise. that is our subject for the chart of the hour. guy johnson is here. news if you back are long of hong kong property this morning. guy: goldman sachs is down trading these numbers based on the fact that interest rates are going to rise. the federal reserve reaches beyond the shores of the united states and has a massive impact around the world. i think it will be interesting to see which one they are more interested in. where is the balance lie? he thinks the fed is very data dependent. tomorrow, we get this big piece of data out. i think is goldman sachs story is really interesting in that light, the fact that we are going to see interest rates may be going up and the impact that will have on inter

wti yesterday. we are rallying once again this morning. tomorrow.data is due seeing increasing in the united eights. decrease ino weeks back to back numbers since september. we have a number of factors coming in. i have a chart that contextualizes this move. all the way back to 2005. inventory are forecasted -- inventories are forecasted to decline again. bouncing up since the lows in february. 80% since we saw the 12th year those in the price of oil. a number of factors. wildfires in canada that on the agenda. warm weather fanning flames. supply disruptions in nigeria as well. talking about oil and what you do with the proceeds of oil. manus, inc. news in your part of the world. manus, big news in your part of the world. manus: i love this. i love the cover. have a look. saudi secret -- what is the truth? 40 years of information. today, bloomberg gets the truth. they have 117 dollars. rounded up by .2. -- 117 billion dollars. 42 years it has taken us to find this out. look at the bart chart. china has one point $2 trillion. recordstill at

wti rallied more than 70% from the oh most 13-year low reached in february.is deal sustainable to you, or do we head back down at a moments notice? the outlook for global growth is still fairly challenge. i think what is interesting about what we have seen since february is if you go back to february, and i think i was on your show at that time, we noted that the forward price was actually around $48. was,eakness in the price to a great extent, related to technical factors. a lot of speculative sourcing. now we have seen a reversal of that. we are now back -- i think the curve is coming back substantially. the question is what happens next. frankly speaking, i don't think there's a clear case for either it rising sustainably from here on, necessarily, or falling sharply from here. manus: you sit on the fence? nobody gets to do that we have a chart for you. it is the imports from chinese fromis on the story yesterday. this is rising. it is a nice move. it is kicking the trend. dollar,ing to be the the chinese story, or the saudi policy that affects the next mo

forecasting the price of wti is a very very difficult thing to do. many including myself have failed miserably in that endeavor. >> did you jump the gun last week in saying that crude and some of these stocks have topped, it was time to get out? >> no. i think i rang the register which was the right thing to do in a lot of high beta names. could have hung around a little longer for sure and made some extra money. i'm comfortable with it. i still stand behind what i did and what i want to do right now looking forward. i don't want the high beta energy exposure. i would rather have a big integrated name proven global reserves, big balance sheet, more of a defensive energy slant. >> he's talking about bigger names. that's what we were talking about when i brought up xle earlier. it's holding on to the 50 day and 200 day moving average. that's hanging in there well. talking about some of the biggest names in energy when we talk about that. that doesn't mean there's not a huge amount of trade still to be had in the free ports and craziness of the world. i

for wti, it's one of the reasons q1.ave such a bearish we started out really at the bottom and saw wtis rising through the year. they have excel a rated now for a number of reasons, but we have seen higher prices. we expect higher prices through the year because of all the defaults that would come -- the reductions in production, massive cuts in as a result of this morning that came out in november. so we see the price supported because of some of the things as a result of this morning, but we still see more defaults, more cuts in capex, more layoffs, and more bankruptcy. david: a lot of the conversation about opec has been around the prospect reacting to the oil minister. >> do you believe russians will fix to the ruble if you get a freeze? >> yes. i got the sense from my colleague, the minister of andgy, that he was genuine firm in his word to us, but when we started talking about it, we that if not everybody would come on the table to freeze, there is no reasonable logic behind it. jason: i have been going to opec meetings for 12 years. i think it will be very tough to get a deal. i

wti is at 49.11. commodities are softer, but markets going nowhere.et's go to the stock movers with abigail doolittle. abigail: valeant shares are up rejected aer it combined bit earlier this spring despite the fact that the stock was down 90% from its record peak. it means that insiders and outsiders alike find fundamental value with valeant. e are shares trading sharply higher after it passed a critical leap. it is the top leading stock. outsold has managed to spin its $5 billion lighting unit in an 850 my million dollar -- and in a $59 million iop po. vonnie: president obama has become the first sitting president to visit the city destroyed by an american atomic bomb. wreath att placed a ground zero in hiroshima, japan, where the u.s. dropped the first atomic bomb. mr. obama says he was there to urn the deadthe japanese-americans. >> since that day, we have made choices for hope. the united states and japan forged not only an alliance but a friendship. vonnie: japan's prime minister praised president obama for what he calls "courage and coming to h

both wti and brent moving sharply up. moves of over a dollar as fighting in libya threatens to halt the flow of oil from the country. and this while a massive wild fire in canada has disrupted its oil production. that wild fire has forces 80,000 people to flee their homes. a state of emergency has been declared in the entire province of alberta. the moves to the up in the oil price helping oil majors here in europe. also looking at -- earnings this morning dropped 38% at rep sol. but the good news is that figure was better than expected. rel sol up in spain. the spanish oil joint also said activity in the refining business helped offset weak nns overall crude prices. rel solve one of the top movers. let's give you a broader view trading in europe. an hour into the session here. good news for the markets so far in may it's been a rough month. you will until today's open we are some 2 to 3% across the continent. the market here this morning, getting a boost from bt. also the oil majors seeing a rebound in basic resources as

oil prices wti and brent were above 50 parts of day yesterday.ed below that and declined further this morning. wti at 48.9 but of course has been a resilient and positive couple of weeks for oil. a look at the ten year note as well in the u.s. we've seen some gains over the last two weeks in the yield. just down a little again today. the dollar has been strong. at the moment not too pronounced. but the weak euro really helping stocks in europe. gold prices have been range bound over the course of the week and pretty much flat at $12.23. >> the g7 leaders warning that brexit would --. a few weeks to go until the all important brexit referendum. if we look at the -- since the date of the referendum was announced back in february. and now it is near the top of the range. so moving in line with the momentum of the polls. and kayla, of course as we await the vote people questioning whether turnout will effect things, and will it really impact equity markets as well. so far the -- >> and the dliep has already passed for expats. >> for expats to vote. i

wti crossing above 50.ttled just below but still investors watching very closely. >> super closely. u.s. futures how we're setting ourselves up for trade stateside. flat to a little open. that is the right-hand side of your screen there. it has been interesting week as mentioned and a lot of the markets have seen a little bit of a rally. we had this big two day rally. major averages trading up on the close yesterday stateside. >> people want a reason to push the market higher. they are looking for the catalyst. some wonder whether we'll get that from janet yellen later today. others a non event. >> do you believe in a rally? just go with it. you don't have to believe some say. but there are two big events in focus for u.s. investors as said. the fed chief janet yellen will be speaking at an event hosted by harvard university. she also receives the radcliffe medal. that is presented annually to an individual with a transformative impact on society. and a second reading of the u.s. gdp data. reuters is foreca

first of all, we have parity between wti and brent.it is always nice to mention it. what does come next? do we need to see oil creep up to about 55 when more producers will come online and bring the oil price back down? i think in the near term the biggest impact is going to be the canadian oilsands restarting their operation. they have been 1.2 million barrels, 1.4 million barrels off-line the cause of the wildfires there. francine, i think as prices get over 50, you will start to see shale producers hedge up their future production and put more rates to work. francine: overall, are you surprised by the fact that we seem to have reached more of an equilibrium sooner than expected , or is this just because of supply disruptions so it does not give us an indication on future trends? jason: i believe that the overall trends of growing demand and declining opec supply are more or less playing out as we expected. we expected the balance to be achieved late q3, q4. canada comes back online relatively quickly, then we can move it back into a

we're bouncing back up with wti.nd it likely rose for the fifth straight week of any supply productions. and the rate in alberta, this comes as many companies remain offline in the wake of the massive wildfires. >>> we mentioned european banks higher credits boosted a lower than expected loss. and it's been declines in investment banking unit, shares trading lower -- is that right? >> no, that's higher. >> we've got the wrong one, but we'll get it to you. >> the firm's ceo did speak with cnbc about some of the challenges a little earlier this morning. have a look. >> last time we spoke, it was really a scary time. january was the worst january in the history of markets. i was speaking after four weeks of that. since then, february was bad, a little bit better than january. march was better than february. and april was better than march. so we're clearly on an improving trend. >> so, clearly, the overall macro environment is tough. trading was a big point of weakness in this report. but there is some reassurance that

we're currently around $43.50 on wti.he canadian wildfires that have taken out more than a billion barrels of capacity. they seem to be moved away from production facilities as i understand, so that may bring a switch in trade. >> this, of course, after we saw the big dip overnight in wti prices down some 2%. >> yeah. >> a little bit of a rebound there, influence. and still concerns with supplies, we'll get to that with the guests as well. >> concerns in supplies. >>> and concerns also not just about supplies but also about the global economic health. china's consumer price index rising 2.3% in april. narrowly missing expectations. the food prices were the largest contributors to inflation rising 7.4% higher. sri is in singapore. we're looking at your mixed state out of asia? >> yeah, i've got to tell you the mainland china markets were pretty agnostic about it. yes, it gives them scope to ease further but i think what's wrangled china, that article in the front page of the people daily newspaper suggesting an l-shaped ec

wtirday's gains. up about .8% above 46.350. brent is just below $46 a barrel this morning. yesterday a steep decline in --. and yet we push higher to 2016 highs. on the flip side the dollar, we're seeing the japanese yen weaken, which is important to help japanese stocks rebound. just pushing up towards the 109 level. euro weakening, dollar stronger. pound weakening ahead of inflation report and comments from mark carney. as the treasury note yield saw buying yesterday on the back of that selloff in stocks which was interesting given when we see stocks rally you don't see a big selloff in 10 year treasuries. so you see the treasury market a little more pessimistic with its view on the world. and adding to that as been a rally for gold this year. and a brand new report finding global gold demand soar to its highest first quarter total on record. more than off setting near 20% decline in buying. >> overall i'd say as well the other thing to focus on are the last three days we've seen much h

wti price down 0.6%. it was down even lower about half an hour ago.e u.s. session 44.51 is the price. story is the currency market you're seeing a weak dollar notably it wasn't the japanese and the yen. there's the dollar yen, 1.0578. weak dollar across the board should be helpful to u.s. companies reporting tougher results on the back of the u.s. dollar. you have to wonder whether it's just too el for them to increase their forecast for this or if the market doesn't believe it's going to continue as the fed interest rate increases. >> yes, as we said yesterday, when you pair that with stronger interest rates, the fact that we haven't had more positive stronger guidance for the year-round off the markets. a look at the gold price this morning, right now we're looking at gold up by 0.3%. just try of 1300. >> that's flip side of the weaker dollar, gold mains. minors have been very strong. >>> in other corporate news, apple shares on their longest losing streak in 18 years. down yesterday for an eighth straight session. this comes are the tech giant repo

wti, 47 on the nose, up 1.8%. >>> apple's ceo tim cook is in china today. yu is live with a look at the visit. this comes after the big bill-dollar investment in the ride sharing company. good morning. >> reporter: yes, definitely. tim cook was in downtown beijing at the biggest apple store there and accompanied by the president of didi who is the ride hailing app company in which apple just invested a billion dollars. and to underscore the importance of this new relationship, tim cook as well as the president were both in a didi taxi and he was posting pictures of the event on his account. he was holding a roundtable with app developers, one was the founder of another important company here, china's version of groupon, and tim cook was just talking a lot about how important the app economy is to apple. and he was also discussing the government's role in how important it's been in developing the internet. now tim cook's visit was widely expected because of the fact that apple has been facing a lot of challenges as of late. the slowing economy, also the slow

we're up another percent and a quarter today. 49.2 for wti, close to the $50 mark. >>> let's get a checkal markets following overnight from asia. the nikkei shrugging off sort of disappointing news from individual stock owners. 1.6%. the weaker yen on the dollar has been helping japan to rebound. toyota had a nice overnight as well. hong kong a star overnight finishing up 3%. shanghai closed lower by 0.23%. and china fixed its occurri rir- currency in a year. resilience in global equities overnight especially in china. notable, that china yuan. and the german dax up one 1% gains. europe with $50 a barrel. and the u.s. recession, the strength of the banks and technologies are reasserting themselves. the lead will be one to watch. >> and germany was up over 2% yesterday so really extraordinarily strong rally there. i think a big factor is because the u.s. dollar hash strong including against universithe e. and thats who eased pressures on germany and of course wider companies across europe. and as you say, i think over the course of five months, though, markets have got more happy that the

wti was up 3.3% for the sixth positive week in seven. and they are at $48.prices as well for you, we'll look at gold coming up, it's down but fractionally down to 1251. the dollar was a big mover last week, the index almost 1% for the week and strength anything throughout may as we have discussed today losing a bit of ground against the yen, .60%, that has hurt the nikkei earlier today. the panel is remarkable resilient at 1.45 as we approach the vote on whether the u.k. will stay in the european union. >>> it's a busy week on the data front. look for new april home sales tomorrow. on thursday durable goods and pending home sales. friday the first estimate of first quarter gdp an may consumer sentiment. and the earnings season is starting to wind up. look for results from best buy, hp, tiffany and ambercrombie & fitch. >>> and eric roseengren is one of the big doves on the fed committee throughout sort of this whole process pushing for easy monetary policy, continuing qe, very cautious. so he's changed his tune. that shows the core of the fed is moving. >> a

wti and brent trading near parody right now so indicates the wti price and the wti commodity is more respect to the international benchmark. the rest of the energy complex is lower because of that dollar with the exception of nat gas, we are expecting to see a spike in temperatures that will boost demand for nat gas. and i will say gold prices falling under $12.50, that's pretty key. again, dollar oriented at this point, carl. >> jackie, thank you very much. when we come back, former fed governor robert heller will weigh in. does he think a june rate hike would be justified? dow mild start to the day up five points. don't go away. is car? came courtesy of james and patricia thompson. this tv? margaret and tom lee. the championship game ball? that was sebastian diaz. good guy. and all i had to do was ask for their money and pretend i was investing it. their life savings is now my lifestyle. female announcer: don't let someone else live the life you're saving for. find out if you're dealing with a registered investment professional at investor.gov. it's a great first step toward protec

wti is

treasury yields are a little bit higher to 1.87%, and wti trading at a premium to brent.e now for off the charts. the imf decision to include the u.n. in its drawing rights basket was meant to be a catalyst for an expanding global role yet the use of the u.n. is shrinking. abigail: we do have a bright and beautiful chart. what we are looking at is the onshore yuan and we see there is a big decline you just talked about from april last year to april this year, down 30%. one reason why could be decreasing trade activity for china in both imports and exports, and the white line we have imports, the blue line is exports. that could be one source of weakness. usually currency traders like volatility but in this case because it could reflect the fixing of the government, currency traders may not like that artificial force. jonathan: exchange rate stability usually induces more trade between countries. we do not see that in china right now. the other story to talk about is yuan deposits. are the yuane deposits in hong kong, total deposits, and you can see the decline matching th

debbie ti having its first full down date -- wti having its first down day.he market cap battle that we've been talking about between google and apple -- google calls itself the now in order to confuse the entire world. do no evil -- wasn't that their motto? and yet they have this holding company alphabet a shares. jonathan: another gets evil. -- i don't think it is evil. matt: i didn't say that it was evil. we are seeing these to buy intraday. it's my last day here. david: you get some license. matt: i get a little help. actually hiss not last day, he's just going to dish this and annoy europe for a couple of months. stephanie: hopefully come right back. reservewo federal presidents have made a case for an increase. marcus will rate hike until december. the boston fed president repeated his view that such sentiment might be misguided. street -- if you look at financial futures, they are expecting at most one increase over the course of this year. that would be consistent with an economy that was actually pretty weak. my own view is that the underlying streng

last weekend, it's up 7.4% in the month of way, wti. so, strong performance.yes on opec for thursday. >> that's right, wilf. i just jumped the gun a little bit. let's take a look at the bottom markets and the dollar. four weeks, right, of gains for the dollar which is the longest streak we've seen for a while. this on the back of janet yellen's comments on friday saying the u.s. economy could perhaps handle another interest rate hike and that could be in june and july. certainly on the mind of investors. it's going to be an important data point for the federal reserve. let's take a look at what global has been under. we're currently sitting at 1,213. >> it may be a short. ed trading week but there's still economic data. today look for personal income. the march s&p case-shiller home index, as well as chicago pmi and consumer confidence for may. on wednesday, we get the ism manufacturing and the fed's beige book law on thursday. and friday, it's the big one, may nonfarm pairls along with the ism services index. lots of data to watch this week. let's switch focu

we saw rally in benchmark rising over 3% while wti rose over 2%. this is concerns continuing over wildfires in oil rich canadian regions and supply concerns. here in japan, volatile commodity markets have dented earnings from major trading houses. you also mentioned from the oil suppliers. that's a big focus here and how the yen plays into a lot of those as well as commodity prices. let's have a quick look before i go. the indexes that are open across asia. seoul's kospi is trading down. china markets open in an hour and a half. i'll have more then. for now, back to you. >> sounds good. thanks for that update. we'll check in with him in a few hours time. >>> south koreaens are learning to love green tea again. >> reporter: it's the largest green tea growing area in south korea. about 1,000 tea farms are cramped into this area. he's been doing this for 25 years. he pulls some paids and uses them to fertilize tea plants. once they decay, the weeds become nutrients. organic fert liedser is-- fertilizer is used instead of fish products. >> translator:

we are seeing wti and brent rebound. wti at a six-month high.is financials that are also the best performers on the stoxx 600. let's take a look at some of the stocks that we are watching. some moves expected in the market, starting with the luxury sector in general it keep an eye on that. richemont forecast a difficult first half after sales plunged 18% in april. it also reported full-year earnings that missed analyst estimates, really dealing a blow to the luxury goods industry. down 5% at the open. daimler, i am not sure that is today, but it has been called -- it is up 1%. this is after it said its profit will be lower this year. back in 2015, it increased its estimates for forecast. we got this after the market closed yesterday, it said truck sales are falling in north america and middle east. related expenses expected to be -- we are seeing in gains. we are keeping and i guess eyeing an eye -- keeping an on selling for just shops to get approval for a merger. some analysts seeing this as positive, meaning the merger could happen as long as

but i think it's going to be very difficult to get wti much past 50. especially since the market remains with a contango, one year forward wti, trading $53, almost any reasonably good fraccer is making a lot of money at $53. you could get to 60. but it would take a del terious, a very, very bad situation occurring in nigeria and venezuela. >> this is karen. >> hi, karen. >> how much output is from venezuela right now and if it deteriorates further, what could it go down to? >> always remember, venezuela is the largest -- has the largest reserves in the world and its production numbers, don't hold me to the numbers, but i think you're down probably a half million barrels from what they were producing. it could go down to, honestly you could get under a million barrels with no difficulty if things truly get out of hand. and they are getting out of hand. >> what is it, dennis, about 50 bucks a barrel that seems to be the cap on crude right now? is it a cost of production for players out there? once they get there, they start pumping more, and prices drop?

you're looking at wti, west texas intermediate. seoul's kospi is down and sydney's index is down a third of a percent. china markets open in an hour and a half. we'll see how the shanghai composite opens. back to you. >> thank you. hob lbies are usually done for phone. a growing number of people are using the internet to make money for them. >> reporter: he draws cartoons as a hobby. he found a website where he could up load his pieces. his cartoons became so popular, he quit his office job. >> it gave me chance today back to you as a cartoonist. i want to keep using it because the site keeps me very close to my fans. >> reporter: another website made people who want to learn skills as teachers. this instructor is teaching back flip. he's an actor of action scenes and directing students include this class. the class learns five times a month. he started it to earn extra income. there's no registration or monthly fees. students pay on a class by class basis. >> i decided to participate for no particular reason. i can't believe i've

reboundede and wti after falling in the previous session.crude price meanwhile finished almost 3% higher in the u.s. part of theribute rise to worries that attacked oil infrastructure in nigeria come impacting output there. we saw higher oil prices helping stocks. we saw higher oil prices helping stocks on wall street the session. higher oil prices are helping energy shares, for instance. we have seen some pretty solid looking earnings as well. we have seen gains for european stock markets at the end of the day. boostshares also got a after greece struck the deal for more bailout money. the index up almost 4%. it's pretty up-to-date on individual stories. credit suisse earlier -- we have seen shares in this was lender climbing on tuesday. -- in the swiss lender climbing on tuesday. shares finished 5% higher, to be specific, as the loss was not as steep as forecast. says it isent, it accelerating a program to save costs in the face of adversity trading conditions. several major european banks have been reporting falling profits for the first

you could actually see wti go to a backward nation. we haven't seen that in a long period of time.nds upon how close, how near-term or how long-term is your perspective. if you made me do something today, i would probably buy crude oil, but that would only be for a short period of time. a rank speculation. >> dennis, thank you. >> thanks for having me on, mel. >> guy, would you be with dennis on the short-term buy? >> i think the dollar is going to rally as well which hurts crude oil. i think crude's going lower. fundamentals haven't changed all that much. the fundamentals are still in place for a lower oil price. schlumberger, down 3% today, i think it's too expensive. i think a lot of these energy names got ahead of their skis. i think they sort of ratchet to the downside. >> where do you stand on the valuation of oil stocks? >> i agree with you. but, i think the direction of the oil is probably lower. i do think the correlation we saw early in the year which was so, so tight, i do think it's -- >> in terms of oil in the market? >> oil in equities of energy. i think are diverging

>> under $50 a barrel now but we did cross that for wti. we're up 35 where is year to date in wti.ome of the reasons we're seeing for oil prices to be supported at these level, we do probably have some short covering going into the holiday weekend. typically people don't like to hold those short positions. but also still concerns about those global spupply outages, te canadian supply, what's going on in nigeria. those worries have not gone away and you have the refinery strikes in france to consider. seasonality, summer driving and the dollar is backing off just a little bit today, some saying maybe the move in the dollar was overdone. yesterday u.s. inventories drew and we did see production grow again. >> we're waiting for us foods to begin waiting. looks at 24, 25. we'll talk to the ceo once it opens for trading. the e-class has 11 intelligent driver-assist systems. it recognizes pedestrians and alerts you. warns you about incoming cross-traffic. cameras and radar detect dangers you don't. and it can even stop by itself. so in this crash test, one thing's missing: a crash. the 2

let's talk about oil. $46 per barrel, depending on whether you're looking at wti or brent.es it rising to about $60 per barrel. mark mobius is the executive chairman at templeton, and he spoke to manus cranny. >> i don't think you need a freeze. i think the market will handle it. you must remember that the demand for oil continues to rise; it is not going down. the recount globally in the u.s. has gone down precipitously. this only means that the supply have got to diminish despite with happening in the middle east. the demand will continue to rise 1% or 2% and the combination of this means that we will see a higher price. n manus: you think we could trade through this? $30 is what we are writing about, but you see a potential to break significantly above $45? how far? >> i am looking at $60 -- i can't speak for everyone in my company, but i think $60 is the target. i'm not saying when -- manus: i was just going to ask -- people think there will be a rebalancing by the end of the year. >> as possible. these prices are present by derivatives. not by supply and demand. at the

now wti is also suffering so will definitely keep track of energy and oil related shares today. now linked to that, also continuing concerns over growth prospects in china, which has hurt commodity prices, especially metals. we did see copper prices for instance falling as well as iron and that's really china's trade figures over the weekend raising system concerns over that copper prices fell 21% for march and also china stocks dropped on monday again on continuing concerns over that shanghai composite down 2.8% and we'll see how that opens. let's look at seoul in the positive and sydney's index trading in the negative. that's all for me for now, back to you. >> thanks a lot. we'll touch base with you in a few hours time. >>> now more japanese managers are encouraging their staff to embrace healthy habits but small business owners rarely have the cafeterias they need to serve teams nutritious meals. they are coming up with other ways to ensure workers get the fuel they need to stay focused. >> in tokyo, an i.t. firm and stomachs are starting to growl. it's time to stock up the