Its been a wide range today. Former citigroup ceo sandy weill will join us to discuss the water shed moment at his former company which just became the first major u. S. Bank to appoint a female ceo plus, well speak with jason robins from draftkings ahead of tonights nfl kickoff. And we are counting you down to some exciting earnings after the bell today including peloton, oracle, and chewy. Two out of three are big stay at home winners plus an interview with chewys ceo as soon as the numbers hit the tape lets get straight to the market in the final hour of trade another volatile session on wall street mike santoli tracking the action for us what caused the weakness here in the last few momentors so . That morning rally was really limp it did not pass any of the tests. It stopped where yesterdays highs were nobody had any faith this was really going to be upside momentum then you had a rally in the treasury market. Yields got compressed a little bit. And the dollar is also been higher
Francine lacqua is at the london event. We will join her later in the show. Lets get you through some of the Wild Movement in Global Markets. It was risk on. Believe that the chinese delegation was looking at a broad area of subjects, but now the latest lines coming through around basketball broadcasts. Now a warning from the chinese side. China sang stay tuned for a retaliation when it comes to the blacklisting of Chinese Companies by the u. S. Government. The market in the last five to 10 minutes is clearly turning. U. S. Equity futures 0. 1 lower. Gold, same story, flipping around, now higher. Trepidation percolating throughout the classes. The aussie dollar coming off the highs of the session. Other surveillance points to look out for. Francine. K. Time will be speaking to the chief executive of Fidelity International. Dodds half past 9 00 london time. Chinese state tv halting broadcasts of the National Basketball association games, saying the backlash intensifies over a tweet expr
Its interesting its going to come out hopefully well for both countries. Ultimately it will work out. Trump also talks up his relationship with russia as he meets with president putin on the sidelines of the g20 and warns him against further election interference. Deutsche Bank Shares Jump after passing the feds stress test but Credit Suisse dips as it scrapes through with a conditional pass and merlis shares surge after a 6 billion pound takeover by the lego family in blackstone welcome to the show. In less than 24 hours u. S. President President Trump and chinese president xi will sit down for highly anticipated trade talks at the g20 summit in osaka. Cnbc confirmed that china will seek a balanced trade deal but the u. S. Is unwilling to agree to that deal according to cnbc sources xi will seek to end a u. S. Ban on huawei products as part of any trade agreement. Xi called for the integrity of the Global Supply chain to be upheld as he addressed g20 leaders in osaka translator we nee
The president accusing Prime Minister theresa may of making a mess of brexit. He said the u. K. Will have a new Prime Minister soon, good news. In the markets, we are seeing risk off attitude. You want to buy the dollar. Equity futures down. 4 . Semis could get particularly hard. The chip guys have three months of inventory stacked up. Yields going nowhere in the u. S. Oil a bit firmer. You have some iran conflict there, the military playing hardball with bp. Altogether, it is a by dollar story, sell u. S. Equities buy dollar story, sell u. S. Equities. We are joined by Lisa Abramowicz and michael mckee. 72 hours, has a busy giving a speech to open this Boston Press Conference and then going down to d. C. Michael you dont have to pay any attention to boston. Towill be fed by satellite the conference. Tomorrow, you have to be sitting in front of your bloomberg terminal and watching jay powell. He has to ratify the idea of the month, which the markets are anticipating, or we will have in
Was the most likely of the major banks to go bankrupt and require a bailout the state of germany has now provided Deutsche Bank with a state bail out the bad banks in the area is masking a bailout and the accounting fraud at Deutsche Bank is only now just being revealed. At the tip of the iceberg this theyre sitting on half a quadrillion worth of worthless to rivet that if you mark to market would would be greater than 5 times global g. D. P. This is in fact the beginning of lehman 2. 00 this is why gold goes up in price because its discounting a Major Economic collapse this is why bitcoin which is the virtual digital version of gold a matter what peter schiff says no matter what michelle blocks as it is gold to point out thats down to. Ben the case dont come at me with all of your crazy conspiracy nonsense and so we enter into another phase of the Global Financial crisis right men Deutsche Bank leave the tip of the spear as weve been saying for years. Only keep money in Deutsche Bank