To lift tariffs in phases as the deal makes forward progress, but it may not get signed until december. The bank of england could cut growth and inflation estimates parties the u. K. Major suffer highlevel resignations. Commerzbank cuts its outlook. Good morning, matt. We need to talk about these latest headlines coming through on trade. They certainly move the market narrative. Matt they really are moving the market. Futures were little changed just about 30 minutes ago when these headlines came across. They jumped more than 0. 5 . Take a look at equity index futures. You are going to see big gains wherever you are trading. Futuresfrench, london, are all higher. If you look at u. S. Futures, you are going to see a very positive picture. After these headlines come out, certainly looks like it is going to be a risk on day. That may not be the case for Commerce Bank. Im here in frankfurt to talk to the cfo of commerzbank, stephan engels. It seems as if every time i interview him, he is a
Financial sector to its part in fighting lemon change. Climate change. A lot of the focus is on trade or what will happen between the u. S. And china. Gold, always a good litmus test for risk. We can see the yield at 1. 85. Stocks gaining 0. 4 . A lot of focus is on earnings. Loose of ex conversation with the commerzbank she chief Financial Officer. Dont miss that conversation after 10 30 a. M. London time. First, lets get straight to bloomberg first word news. In the u. K. , the first cabinet resignation during an Election Campaign in a century. Quit after aretary report that he knew about a former aides role in the collapse of a rape trial. Ae labour party also suffered blow with deputy leader tom watson announcing he will leave politics after 35 years. He has long clashed with Jeremy Corbyn over the direction of the party. Willank of england probably keep rates on hold as brexit continues to plague the economy. It is expected to cut forecasts. Be nexttion is who will to lead the ban
Costs are down. Goldman sachs for thirdquarter earnings, look at the markets today. Welcome to Market Makers. Miller, im excited to look at these markets. Im excited when i see big swings in markets, that is what i live for. And trucks. Yes, not as bad as it was at the open, the dow jones just down 100 points. The s p 500 down. 75 . Were up wellad but over 1 at the open. If you look at the market i will not say it is unchanged but in the grand scope of things it hasnt moved that much. The issue is, it has been an extraordinary, devastating, tearjerking roller coaster. Sick to your stomach and want to go home. Say you can say were unchanged if you look at the s p 500 year to date because yesterday we gave up all of our gains for the year, and that they and of yesterday when jan yellen came out dovish, where looking at an unchanged picture today. On the s pegative index. Europe took it on the chin again today. I dont know where that expression comes from, i guess boxing. And change,1 eur
Todays top story, theres only one. The dow rallied more than 300 points in the last two sez sessions. The blue chip index is now within 89 points of its alltime record rose. Europe is seeing a lot of green in early action, as well, on thursday. February 28th, 2013, squawk box begins right now. Welcome to squawk box here on cnbc. Im becky quick along with joe kernen and Andrew Ross Sorkin. Our guest host this hour is sentinel president and ceo christian swake. Good morning. Thank you for being here and joining us. As you said, it is a good day to here be here. Weve been watching the u. S. Equity futures because of all the actions yesterday. This morning, you did see a few green arrows, but no massive move at this point. The magic number is 14,164. 53. That is the record closing high for the dow. It was reached back on october of 2007. The bulls a number of catalysts for mondays sharp sell down. Some are calling this the bernanke bounce. The stocks soared after the twoday testimony on ca