The First Look - Andy Cinko, Bloomberg News

Good morning welcome to the financial exchange carriers or if it's 905 on the thirteenth well I just -- it Friday it is Ike's. Wake up there you've -- a column are you just figuring out Friday that there well you know I never put the days -- together in the studio. I guess I better your you share well we do locate the futures now futures up forty points NASDAQ upset -- Oil trading up 79 cents all green right now and you're US treasury one point 493 -- -- -- 1615. But we have minute a day for stocks and be with with the July 30 -- last time stocks are -- at six days in a row. Stocks have treated worse maybe rules now. Or break the string and went the last time we've had its six game road stretch like that -- and open up in and does everything. Yes indeed you wake up at 3 in the morning and say what's the eastern injuries -- -- it. Straight out. It traded at one. You know unfortunately that is true. Definitely -- do periodic look I've got -- cellphone numbers columnists say so in the what are green features do you expect. It's so -- -- -- we and I have a seventh down Dana wrote let me futures -- operate. Yet it is -- up I hate -- I -- a little skeptical about these an early indication. There -- -- edit the dollar is at a session the Euro that if that's -- well. And you know. Oil brought by the gold cup and -- futures are up but. In the currency market gonna get lucky here it's saying something else that thing that thing they're not so hot. Analysts just be clear here is that teachers and the risk on trade this morning at all fueled by hopes. That China will come out of new plan to boost its economy you know because they're GDP with a little less. And what was expected that came out overnight and that you know JPMorgan -- blown up here this morning that's that's good news. Wells are -- in the new Wells Fargo beat the -- earnings by a handy thing. -- yet not by -- -- mean well does not not normally. Known for blowing the doors doctor estimates -- yes so again you know reasonably get news from two very large banks and we. Pick up earnings season you know. Maybe maybe. But -- not detail. Yeah. Again and you know it's not reflected anywhere else but the currency market is is moving opposite to everything everything out gold oil futures those are all of that. But that the dollar should be down but it's not a higher. Europe totally. EA the euro's at 121 now so that means that the Euro even though the -- our dollar might be getting worse that's so isn't the Euro. Yet a dollar yes that that's right here is getting worse and that's that probably the worst news we could be thing here because at 12180. Which is where currently is you know it is. Very weak and getting weaker and the expectation is that the Euro will continue to drop. -- in part because they need a weaker Euro to boost just you know European export but also to. What can view that you know they're gonna have to print a lot of -- in order to bail out the banks and bail out the operations in Europe. And that is that why gold is up seventeen dollars an ounce. Well cold -- economic risk on trade you know if oil is up typically -- it's up. And so we've seen that happen time and time again now for several months so it seems like gold is no longer a haven. It is now just tied into the global economy itself. And you know but that is beginning to peel off here it's now back to fifteen -- in -- -- oil is back -- 87 dollars a barrel. Right right knowledge and -- now you mentioned China. And I think I saw there GDP coming in at seven point 6% now we had a seven point 6% G. He'd be doing a dance on main street. Seven point 6% to them actually feels like they're entering a recession is that right. That's right yeah because they have been growing like ten or 11%. And so as we come down from ten or eleven to seven -- -- the field not those robots you know they were the good and the like 3%. You know there's some commentators saying that that would feel more like a hard landing -- it kind of hit the wall in terms of economic growth though. It's a little letter a little less than and we know that would be at premiered there in China has been talking about taking more steps to boost the economy that that just kind of sit there with that hole. Do you have let's get more stimulus going worldwide. And they can do that. They they're actually in a position where they can provide stimulus they can lower interest rates can reduce taxes because they're not broke they have a surplus they they're actually pretty good shape -- Yeah oh yeah they have they have lots of surplus could -- in something like three trillion dollars worth of US. Treasuries they needed to raise money they could be in the -- out and sell the treasuries in order to get fat cat. Right now and obviously they're still buying or somebody still violent as a ten years at the 49 right. That's right we're seeing a lot of buying for treasury is that even with. The ten year new year a record low because of Europe mainly you know you need someplace safe to go. You need some market with a lot of liquidity frankly there's really no other market other than dollars in treasuries when the world is ending -- down. Dollars and and treasuries because you cannot trade in India the market is just not large enough these two markets are that's why we're seeing demand. All right William -- -- appreciate your time thank you very much. That's -- cinco joining us today from Bloomberg in New York. Giving us a full update in letting us know that that yes the futures are in positive territory that we have had six down days in Iran just it's that simple. Rates and today could be number seven I guess we'll find out by 4 o'clock.