We have the Semiconductor Equipment index up on upgrades from the street. Upertheless, the s p is only 1 10 of 1 . The 10 year yield at 2. 03 . I know we are going to be sticking with markets. A lot to talk about today because we are smack bang in the middle of a earnings season, but there is the whole backdrop of the Central Banks and their moves as well. Forill speak to mervyn king a very interesting conversation in the last half of this hour. Theres fed talk, European Central bank later this week. It is happening on all fronts right now. Guy lets get a take on that. Alberto gallo joins us now from algebris to give us his take this morning. What are we going to bid from what are we going to get from the ecb this week . Are they going to deliver, or talk about delivering this week . Alberto they are going to talk about it, and potentially a rate cut which may come in september, and then an extension of duration of qe. Buying longer dated bonds and more of each single bond, moving from
Grasso is back welcome, steve. Thanks for having me. Technology making a move higher thanks in part to the semis. First you have that semi upgrade from Goldman Sachs thats put a flame underneath the whole space. Theyre leading and also have the f. A. N. G. Stocks reporting. Thats what is driving the market action. Does it tell you something about the cyclical leaning. It tells you it gives you the impetus of, hey, what got us there . What is going to be the mainstay people like to keep riding the horse thats delivered the returns and that horse has been tech. Horses are scary. Lets drill down on the big stories were watching a meeting with chip executives will take place. Phil lebeau, a credit warning or boeing and bob pisani are looking at the other moves and seema mody looking at the impact on oil and iran. Ylan, lets start with you. Its expected to get under way in a half hour several of the executives are already here my colleague Kayla Tausche and i have confirmed some companies a
Silicon valley chiefs head to the white house for talks that may lead to the easing of the sales blockade on huawei. Shery we will have more on that big tech meeting in washington and what this could mean for the huawei been later on Bloomberg Technology global link. First, that get you started with a quick check of how the markets closed the market session. A positive session for u. S. Stocks. We saw the s p 500 gain ground, up 3 10 of 1 . A couple of analysts calls, including one on apple, with Morgan Stanley boosting its price target. That actually made apple rally and the biggest winner on the nasdaq. Micron finishing more than 3 higher after Goldman Sachs listed it to buy from neutral. We also have some positive news on the u. S. China trade front. There could be talk about a potential deal in congress on raising the debt limit, that came after the market closed with President Trump saying a deal had been reached. We will have more details later in the show. Meantime, u. S. Ventur
Giving a little bit of a lift to your markets. I am looking at the u. S. 10year yields now coupled with this truce around these trade tensions is weaker than expected factory numbers. Watch out for that. , 1387. See gold down manufacturing pmi below estimates at 47. 6. Than what the preliminary reading was. We speak to Joseph Oughourlian. The best opportunities to find value. Lets get to bloomberg first word news. Hi, francine. Deutsche bank may cut more than a fifth of its workforce. It would be the lenders shakeup in years. They may approve the loss as many as 20,000 jobs. They were working on tough cutbacks after failed merger talks. Trump coming the first sitting u. S. Leader to set foot inside north korea. He met with kim jongun at the militarized zone at the demilitarized zone. He said stepping across the border was a great honor. He also invited kim to visit the white house. Closer to becoming the next European Union commissioner. President donald two skids trying to shore up th
That talks are back on between the chinese and United States when it comes to a deal, anyones guess. But the fact theyre back on is good enough. Edward lawrence, live at the white house with much more on all the above. Hey, edward. Reporter neil, wall street likes the fact that the president said china would come back to the bargaining table. The chinese agreed to talk again. President trump agreed to hold off imposing any new tariffs. So far china has not brought back any concessions but secretary ross told me that will come when the two sides sit down at bargaining table again. The president thinks he already has sufficient leverage over china. U. S. Will not sell out for a bad deal here. Will take time it needs to get the right deal. Lastly shows that maybe the administration found a little bit after sweet spot on the tariffs. Reporter critics say the other walkback from china might be make a mistake. President trump reversed himself that allows u. S. Companies to sell parts to huaw