Thats why youre here. Cant find anyone. We have one guy left. Simeon. Is he bullish . He will be on. Already talked to him. One of the things hes saying is even if if there is a stumble in some of this stuff, market already deserves to be here, which is what i think. I think so, too. In terms of tax policy or that stuff is a bonus. Just not having the private sector vilified on a daily basis, not adding a new regulation, layering on a new regulation every day. When you take that off, its going to come back to a more normal level. Im with you. I think i know you are. The multiples are getting a little stretched, but Interest Rates, you know, stock prices are a function of earnings and Interest Rates. Interest rates are historically low still at 2. 5 roughly. Youre the one who coined t. I. N. A. I have. There is no alternative. And we have other things to talk about which in particular with the Trump Administration, were not talking about financial repression, monetary policy, were also
Share, all crash. The deal is expected to close this calendar year. Jim, you just talked to andrew, becky and joe about this. Yeah. You know when you go back over the arc of linkedin, obviously going into the february quarter there was a belief that things were continuing to accelerate. You had 30 growth. You really felt like there was very, very little economic sensitivity. Then you got that incredible shortfall, going from 192 basically down to 9,800, and it was entirely because of the lighter guidance. The guidance, they use the term seasonality. Well, were not used to hearing seasonality with linkedin, 30 going down to 20 . There really wasnt any line item that was good. You saw deceleration in core hiring, you saw challenges in marketing solutions, you saw macro fx headwinds. We dont want to hear that. The last quarter reported at the end of april was quite good. And every one of those items went back up, and thats why the stock was able to recover. But they are getting microsoft
Tie fell out of your pocket again, andrew like it did the other day and no one there that looks good. I figured today was one of those days. We spent some time on a farm yesterday, joe. Thats right. You head back out to the north 40. North 40, andrew, is a term that people out in that part of the world use for the 40 acres that are north 40 . Yeah, andrew is going to be bringing us up to date on everything thats happening in Middle America right now and give us a real view from the front lines on all of this. Well be back with him in just a few moments. Joining us is the u. S. Managing editor for the financial times. Well get to her in a moment because we have to talk about Deutsche Bank and whats happening. Thank you for joining us. First lets get a check on the markets. Take a look at u. S. Equity futures. Yesterday was a down day. Dow down by 200 points on concerns about the Deutsche Bank. S p was down by 20 points yesterday. And the nasdaq was off by 50 points. This morning things
Clear focus on financials. Deutsche, the euro, spreads after the worst day for stocks in two weeks, europe lower on pressure from the banks, euro under the same fate. Oil taking a backseat for now largely unchanged. Road map will begin with what else, deutsche and capital concerns rattling markets around the world. The ceo attempting to calm the waters, will that work today . Its not just overseas, of course here in the u. S. Wells fargo is back under fire yesterday after ceo john stumpf faced angry lawmakers in the house of representatives. And the last day of the quarter, tech leading the rally. What does q4 portend . But first up, deutsche shares slumping to alltime lows in frankfurt trading taking the european Banking Sector with it, thats on concerns about deutsches Capital Position and reports that hedge funds are reducing their exposure to the bank. The Ceo John Cryan defending his company in a letter to employees saying due to ongoing rumors, talks about their liquidity reserve
But were holding down the fort. Japans nikkei reopening after yesterdays Public Holiday and it plunged. 4. 8 . It closed at its lowest level since october 2014. The index is down in seven of the last eight sessions. That is coming as the yen has been rising against the dollar and it comes after yesterdays big selloff in the u. S. This years lowses have erased nearly 1. 8 trillion in value for investors just on that index. The s p is down 10. 5 since the first trading day of 2016. But u. S. Equity futures are rebounding this morning. Part of that is because of firmer oil market. Take a look at what crude is doing. It is bouncing back today following Late Afternoon comments by an opec Energy Minister from the United Arab Emirates that sparked hopes of a coordinated production cut. And though weve heard this story before and havent gotten anything out of it, the markets are interpreting that as a positive. Wti he crude currently up nearly 4 . 27. 21. Brent is sitting above 31 a barrel, up