Surveillance. I am nejra cehic. We are seeing european equities accelerate to the downside. The stoxx 600 down 0. 6 . Futures pointbut to a lower open. The five year yield hit several record lows. Target rangeow the from the fed. Lets get the bloomberg first word news. Laura the u. S. Death toll from the coronavirus talked 150,000 topped 150,000. Texas, california and florida had record cases. Dr. Fauci warned more protection will be needed. He said if you have goggles or a face shield, you should use it. Facebooks Mark Zuckerberg was speaking alongside the bosses. Rom alphabet, apple he says facebook lags behind its competitors. Credit suisse says it will merge trading and Investment Banking and combine its risk function. The chief executive says it is the first major rebound of the swiss lender. Undoes some of the decisions by the predecessor. The bank merger is something we have been discussing for months. Bute will be costbenefits, it is about having one underwriting business to ha
At the same time, we generated more capital through earnings. Thats why are ratio is 12. 5 . Talk to me about the merging of the two units. What is the reasoning behind that . The Investment Bank merger is something weve been discussing for months. Even my predecessor, it was already a topic. 2015, clearlyn the two had to be separated. We had to restructure the trading business. Are at a stage or we can put them back together again. Most of our competitors have it anyway. This is not a cost exercise. There will be some cost benefits. Its really about having one overriding business to have one Investment Bank globally, one equities business. A Global Trading solution business, which build on our success. It serves our equity, fixed income, transactional business for the private bank and institutional business. How difficult was it to do this in the middle of the pandemic . Thomas it was relatively good. You get used to resume calls. Zoom calls. We had many internal calls to get this lin
Whats at stake for them and tech investing the Halftime Report starts right now. Welcome good to have you with us on this tuesday. Our Investment Committee with us lets start with the markets theyve been up for three straight quarters. The s ps largest gain over that period since 97 the question is what comes next . You tell me what comes next, pete the economy doesnt look good. Looks like it slowed down more and slowing more. No doubt about it. I think the interesting thing is tony dwyer had a nice note out talking about the mini recessions hes talking about this one continuing to be a mini recession and looking for opportunities. Saying it looks like maybe this is an opportunity in terms of buying after this selloff today. Have we had a nice start in terms of September September was absolutely fantastic. Financials were rocketing to the upside technology continues to be a strong spot except f. A. N. G some of those f. A. N. G. Names, especially netflix leading to the down side. But y
Accomplished investors in their own right. Plus theres so much to discuss. Tyler, were going to talk to the coopermans and the millers about where they see this market going. The incredible valuations weve been seeing in some Companies Like open table. Speaking of that deal today. Bought by priceline for month than 2. 5 million. It will be interesting to hear about that. And plenty of other occurrences in this space. Of course weve got to talk about oil, about some of these new tech developments and much, much more. Apples not falling far from the tree in those cases. Interesting to hear how they invest alike and how they invest differently. In markets right now lets take you through the three major averages. The dow up 32 points. About. 2 of a percent higher. The nasdaq a relatively small gain of about 12 points at 4309. And the s p 500 moving up today by about five points, a quarter percent at 1935. Joining our closing bell exchange, Kelly Connelly from jhs capital advisers, rich pet
Associate professor of Political Science at fordham university. Gabe, National Correspondent for new york magazine. Im going to start with you, christina, i mean, this is a story we have been waiting for. Shoo im not sure youve had a chance because it was breaking as we came on air. Big picture, the significance of the times gaining access to these tax returns, we know the president has fought not to have these released to the public. What do you see as the big top line . Well, i did read the article. Whats so important, you know, we have to remember this will not move the needle with his base, not one bit. So Many Democrats have been calling cal calling for the release of the taxes. We rye loely on americans for p to pay into the system to provide things such as schools and roads, police and fire, so many elements and policy elements of society we rely on. Sadly, we see millionaires and we can put that in quotes with donald trump, but wealthier americans always finding loopholes and s