A positive upward momentum we had recently. Be one of the reasons we are seeing a pause. Stocks have gotten too overheated levels, according to several measures. One of them is the 14weak relative strength index. We have a chart of it here for the s p 500. Line,y, this of her red when this goes over that redline it indicate stocks are overbought. On the bottom you have a green line that indicates oversold typically. So we have a record level for this 14weak indicator. If you look at the 14day rsi come it shows the highest since 1971. Momentum indicators have gotten a little overheated, and that is something investors have been talking about. Individualk to the stocks, watching some of those financial earnings as they come to a close. Morgan stanley, which has been bouncing between gains and losses this morning is holding onto a gain of half of 1 as the companys Wealth Management fees climbed to a record, raised its target for return on equity. On the flipside, bny mellon reported inlin
Failing to complete safety recalls. The carmaker will now be monitored. Welcome, good morning. Im caroline hyde. He has some breaking news from ubs the bank is publishing secondquarter results early. Lets get out to ryan, at the breaking news desk. Ryan 1. 21 billion is the net income, 53 from what they did last year. Thats better than what analysts were expecting. They expected something closer to 900 million, and the reason is private Wealth Management. Sergio armani issued triumphant earnings today, saying he was very pleased with how things were going. They cut costs and obviously revenue is coming in well. Capital rates shows the company staying above target 14. 4 . These numbers came out earnings came out over the weekend in the swiss newspaper and it left a lot of people confused. Ubs this morning said it also misled people and that is why they moved their earnings up. It is kicking off a very busy week for the bank. Caroline thank you very much. More breaking news lets kick it
Deutsche bank has lost records of electronic chats linked to the interest probe. Now the biggest bank is trying to recover the messages which it says it yelled archive. It failed to archive. Welcome to the program. Its friday and you are watching countdown, live from london. Its 6 00 and lets get to some breaking news. We will start with the aviation sector. Airbus. Njera hi, anna. We have the first half revenue number 48 billion euros. Airbus has also confirmed its first half guidance. We gave an update on the a400m deliveries they have resumed, 290 million euro charge. We are waiting still for more numbers to come out. Dividend per share is to increase in 2015. The big challenge for airbus overall is that it has a lot to deliver in termsand it seems like the first half guidance is coming as normal. With the a400 there was that crash of the military aircraft. The ceo did say back in may that that would jeopardize the earnings goals, and today we have heard that the deliveries have res
This story. We will bring you news on that story. Grounded as well. Monarch Airlines Dancing all flights. Canceling all flights. Help tough will it be for the lowcost carriers . We are monitoring events in las vegas. There are reports coming in all the time. It appears to have stopped within the last hour. We will continue to bring you up to speed with what is happening. Series of events taking place in the city. It will find out what is what the latest Police Situation is. We will update you throughout the program on that. The other thing to notice, 20 minutes to go until at the moment, the failed value the fair value putting us to a rare start. Cashax is going to outpacing outpacing some of its peers. Lets talk about what else we can see out there in the world. We have had some strong tiny stayed overnight. Some strong chinese data overnight. We are happening guess we are watching what is happening in catalonia as well. Lets go to our Bloomberg Business flash update. We start with th
Janet yellen, will she put march back on the table . German fourthquarter gdp comes in weaker than expected but with flat that fast this fastest inflation since 2015. Manus matt lets take a look at where the buns are bunds are. Futures pump pointing to a lower open. Yields down a little bit as investors buy into german tenure debt. 0. 327. 83 twoday chart. Yesterdays trade a little bit of a try rise. This morning, it looks like german investors are wary of the numbers that we are seeing coming out. Inflation number, cpi at 1. 9 yearoveryear. Gdp numbers not quite as strong as may be have been expected at 1. 8 . Guy pretty comparable. You think about the United States, bonds. 3, treasuries 2. 3. We will talk about that for a program. Dollar index, what else is interesting this morning . The yen is trading higher. Tohiba, go thing i want mention as well as iron ore is bouncing around. One of the contracts trading down by 1 to the story we are being paying attention to. The one thing i wa