Placeholder Image

Subtitles section Play video

  • Hello, welcome back to the Note. Back in New York today where it's been a busy day.

  • Now perhaps the biggest headlines surrounded the US stock market and oil.

  • We saw another day of sharp directions in the oil price that spooked the stock market. The S&P 500 is now down for the year.

  • Now it's popular to blame almost all of what's happened to the stock market on the energy sector, and there is some reason for that.

  • But, as this chart shows, that can be very much overdone. The green line there is the S&P 500. Energy sector obviously had a horrible time of it this year,

  • investors really haven't expected oil to..., the oil price to say where it is.

  • But if you then look at that red line there, which is the S&P 500 excluding the energy companies, you can see yes it is just about positive for the year.

  • But it's very much of thoroughly unexciting year that's been had by the rest of the US stock market,

  • many of which, many of the stocks in that index, exclude the energy, would of course benefit significantly from cheaper oil.

  • So you still plainly have to contend with the fact that the US stock market is not in the greatest of health even if you discount the effect of oil.

  • Now, elsewhere we saw the Dollar weaken quite considerably against the Euro.

  • That was without any big move in the bond market. There without any shift in the expectations for the Fed for next week.

  • Still, it seemed there's a raising certainty the Fed will be raising rates.

  • Meanwhile, you also saw the Dollar strengthened against emerging market currencies,

  • spectacularly so in the case in the South African rents. Emerging market currencies in general on that

  • will beginning to fall quite close to the levels that had been in September which prompted the Fed to decide not to go through with the rate rise then.

  • Perhaps most importantly for the long term, however, I'd like to show you this chart, carrying up which is of the Chinese currency.

  • Obviously the single scariest moment as far as many in world market would concern of 2015

  • was when the Chinese allowed their currency to devalue very sharply by its own standards in the middle of August.

  • The currency would steadily managed stronger for couple of months up to that. You can see it in the last few days.

  • It has been allowed to fall once more. It is now significantly weaker than was on the day of all that excitement back in August.

  • It makes eminent sense for the Chinese to allow their currency to devalue.

  • If they want to become more of the market, that currency become an elective part of the SDRs run by the IMF

  • plainly makes more sense for them to follow the market, which would imply a weaker Chinese currency.

  • Obviously, a weaker Chinese currency would have very intriguing effects for the rest of the world.

  • Let's expect this is one to watch.

Hello, welcome back to the Note. Back in New York today where it's been a busy day.

Subtitles and vocabulary

Click the word to look it up Click the word to find further inforamtion about it

B1 FinancialTimes market currency stock market oil stock

Running on empty | Authers' Note

  • 292 23
    Kristi Yang posted on 2015/12/21
Video vocabulary

Keywords

raise

US /rez/

UK /reɪz/

  • other
  • To put forward for consideration or discussion.
  • To increase the amount of a bet.
  • To bring up (a child).
  • To construct or erect.
  • To cause something to happen or exist.
  • To collect or obtain money, resources, or support.
  • To grow or cultivate plants or animals for food or other products.
  • To cause to appear; evoke.
  • To increase the amount, level, or strength of something.
  • To lift or move something to a higher position.
  • To bring together; assemble.
  • To bring up a question or topic for discussion or consideration.
  • To bring up a child; to care for a young person or animal until it is fully grown.
  • noun
  • An increase in salary or wages.
  • Increase in a bet above another when playing cards
  • Pay increase
  • An increase in salary or wages.
  • verb
  • To increase a bet above another when playing cards
  • To gather donations for a cause or charity
  • To bring up and educate a child to maturity
  • To bring a dead person to life
  • To increase a quantity, size, intensity or price
  • To lift (e.g. your hand) to a higher position
  • To mention a topic /issue for discussion; bring up
  • To increase (salary, etc.)
  • To grow or care for plants or animals
  • other
  • To increase in volume or size, especially dough with yeast.
day

US /de/

UK /deɪ/

  • noun
  • A period of 24 hours beginning at midnight
  • The period of time when it is light outside
  • Person's name
year

US /jɪr/

UK /jə:/

  • noun
  • Unit of time equal to 12 months or 365 or 366 days
  • Used to refer to the age of a person
significantly

US /sɪɡˈnɪfəkəntlɪ/

UK /sɪgˈnɪfɪkəntli/

  • adverb
  • In a way that is important or noticeable
  • In a way that is meaningful
allow

US /əˈlaʊ/

UK /əˈlaʊ/

  • verb
  • To admit the validity or truth of something
  • To let or permit someone do something
energy

US /ˈɛnədʒi/

UK /'enədʒɪ/

  • noun
  • Physical or mental strength
  • other
  • Power or capacity applied to perform a task in computing.
  • Resources used for power, fuel, etc., especially in economic terms.
  • Enthusiasm and determination.
  • The capacity to do work.
  • The strength and vitality required for sustained physical or mental activity.
  • The strength and vitality required for sustained physical or mental activity.
stock

US /stɑk/

UK /stɒk/

  • noun
  • Animals such as cattle kept for breeding
  • Tasty liquid added to stews, soups etc.
  • Merchandise; goods kept by a business for sale
  • Piece of a business, bought in the form of shares
  • verb
  • To keep some of, as items for sale
  • adjective
  • (E.g. of a response) standard; usual; not original
emerge

US /ɪˈmɚdʒ/

UK /ɪ'mɜ:dʒ/

  • verb
  • To rise or appear out of some background
  • other
  • To come out into view; to become visible.
  • To become known or apparent.
currency

US /ˈkɚrənsi, ˈkʌr-/

UK /'kʌrənsɪ/

  • noun
  • Widespread acceptance
  • Money system that a country uses
  • other
  • The state of being commonly known or accepted
  • A system of money in digital form
  • The money used in a particular country
  • other
  • The state of being commonly known or accepted
  • The quality of being up-to-date
  • The money that is used in a particular country or area
fed

US /fɛd/

UK /fed/

  • verb
  • To give food, e.g. to animals or a baby
  • To push something through an opening
  • To provide necessary supplies to