In the First Quarter, a drop from the First Quarter. Analysts were looking at increase. That really speaks to the idea that the volatility we have seen in the Fourth Quarter is not necessarily helping revenue. Reporting its first training revenue since the financial crisis. The volatility people thought would be good has turned out to be a bad volatility. Also in the citigroup report, we have a Net Interest Margin of 2. 92 . It is a little bit better than what analysts have been looking for. An improvement over the Third Quarter as well. Wells fargo at 2. 4 , slightly better than what it had been anticipated to report. Still looking at 20 year lows. It is a continued weight on the banks. Trading right now is down about 2 . Thank you. We will check back in with you later. I wanted to give our viewers a look at the top stories. Definitely at the top of the list. The central bank has rocked the Financial Market this morning. Its minimum Exchange Rate against the euro will no longer fund a
Avoiding the energy space. Its definitely a time to hook energy. Any business with the price of your only product goes down by 55 in six months its going to cause it but probably not for us. The economy is facing a 45 billion hit if oil prices average 50 adding that its likely moscow will be downgraded to junk status. Youre watching Worldwide Exchange. Bringing you Business News from around the globe. Italy in focus with italian inflation data coming out. Coming in at 0. 0 for the month of december but it did come into negative territory year over year so a sign of deflation given the fact that we did get euro zone inflation data last week that did show euro zone inflation dipping into negative territory. Thats the First Time Since the financial crisis in 2009. A lot of focus on the low inflation. Will he in fact be now pushed to unveil full blown quantitative easing. The conversation has changed from will he unveil further easing measures to when and how much. Absolutely. People conti
After rbi governor takes the market by surprise with a rate cut citing lower energy and food prices. No deal on the line. Blackberry shares reverse course after jumping as much as 30 after the phone maker and samsung deny a report of a 7. 5 billion deal. Youre watching Worldwide Exchange. Bringing you Business News from around the globe. We have just got confirmation that german gdp has come in at 1. 45 . Thats the strongest rate in three years. Its coming in as expected at that moment and the quarterly number shows a big bounce back to around. 5 . It must be hah number. From q 3 which was only. 1 . If we rewind to october when we got it people were fearful that germany and europe was falling into that falling growth falling possibly into recession category and that lead to a big sell off in risk assets. The fact that we can say that germany is growing with friday jillty around it. Germany is the largest economy in europe. A lot of focus on not only the success but the strength in its
Cyber monday sales were. U. S. Markets said to keep chugging higher as russia warns of a possible slide into recession. First up, apple in focus after the stock fell more than 3 yesterday. Raising their price targets on apple. One says this could be the top of the iphone growth cycle. They are relatively cautious here. We have blown through some targets. Kaiu has a sector perform. That is a guy i frankly dont listen to. I listen to people who liked it and are calling tops because a guy who has fought it doesnt have as much credibility. Im looking at the canacord note. Expecting the 200 million iphones, the merrill note. Pacific crest wants to trade apple. I believe trading apple is a suckers game. They were skeptical going into the launch of the 6. If they didnt have something mindblowing, he probably would down grade them. Didnt do it till now and missed a run. Ive got to tell you, there is talk of multiple praction. The multiple here is 14 times earnings. Ive got stocks selling at 1
Well be discussing this much of the morning. Oil back with a fivehandle after the rally. First time oils been above 50 since january 6th. Road map begins with surprise surge in the swiss franc after the National Bank scraps the currency floor set in 2011. In turn volatility jumps and markets around the world. Bank of america shares down in the premarket with profits and revenues both coming in below expectations. And target best buy moving dramatically in premarket but opposite directions. Well explain why in a moment. First up surprising news out of switzerland, the swiss National Bank scrapping exchange rate. It was the end of a currency floor set back in 2011 to head off deflation and in response, swiss franc surges against the euro major currencies. The swiss markets down 9 . People wondering trying to get out of the way of draghi next week. Well, i guess so. I mean this is a puzzling move because typically you dont do something that you know is going to hurt your country dont do s