Buy. Throwback thursday as we said. This day in 2003 apple opened the iiphone store. We are expecting a slight decline, a big decline now in fact at the open. The dow down, the s p by 16 t nasdaq by about 10 points. Yesterday we did see a little bit of strength but not too much. And oil prices did hit highs of the year. That was the big story. 156 points the dow expected to open down. Lets have a look at the yield on the 10 year note. We did see a dovish reaction to the fed yesterday. Yield up to 1. 9 and now down to 1. 82. Still in the middle of the range weve seen. Meanwhile the big Global Market story. The bank of Japan Holding its Monetary Policy steady and cutting its inflation forecast. Most boj watchers had been expecting more stimulus. The yen soaring on the news. The euro and dollar dropping by comparison. Big drop for the euro in five years against the yen c, the dollar in something. There has been jawboning in the news where participants were led to expect policy action. And
Cfo laterar from the on around noon. Jon i will break all of that down. Mode at the fed. The central bank opened the door to change in its Economic Outlook. Is a march hike off the table . Deutsche bank reports a revenue loss. We will speak to the cfo later today. And the Largest Social Network post another quarter of revenue. Guy a busy morning around europe. He is caroline hyde. Hasline Deutsche Bank reported a fourthquarter loss at its Investment Bank as revenue at each of its businesses fell. They posted in that loss of 56 billion euros since 2013. Do not miss our interview with the Deutsche Bank cfo at noon u. K. Time. Says bondnley investors should favor longterm securities after the fed acknowledged there are risks for the Global Economy. Long data bonds stand to benefit most. Facebook shares soared in extended trade. Beathquarter Sales Estimates almost 1. 6 billion users every month. About 80 of revenue came from mobile devices and facebook continues to sell more targeted ads a
Retailer is struggliing as he says he cannot promise that things will get better. And big discounter offers stock at 21 euros per share. Good morning or good evening if youre in asia. We kick off with another set of data before the ecbs meeting tomorrow. Its the final pmis for may, final services pmi 53. 2. Its a tick down from the flash of 53. 5. It is still nevertheless the highest since june 2011. And it is higher. Aprils was 52. 1. The final composite pmi has come in at 53. 5, a tick down from 53. 9 which is the flash april 54. We did see of course the french number coming down just a little bit as well. The german private sector growing for the 13th straight month in may. Well break down that but of course another key bit of data ahead of the ecbs meeting tomorrow. Theyre widely expected to take action. How much, of course, is still to be decided as they will come back, euro dollar around the 1. 36 mark we were yesterday. Before that, though, lets talk about the g8. What was suppo