Benjamin segal oversees nearly 300 billion in assets. Thank you for joining us. Lets start with the u. S. Dollar. It has been weaker. Is this the result of central foot off andtheir backing away from quantitative easing or does it have to do with washington . Its a bit of both, the central bank is unwinding and Interest Rates will go up. The u. S. Central bank, the fed, will be first and that would argue for a stronger u. S. Dollar. I think you are also seeing the economic recovery in europe which is driving european stocks and European Economic and. Eavily the companies there are feeling more optimistic. Therefore, the prospect for rate rises in europe potentially. , weink that combination have had some political dysfunctionality in europe around brexit in the elections last year. I think we had a little concerned there but as those concerns of bait and some political concerns in the u. S. , higher Economic Activity in europe, more Political Uncertainty in the u. S. Is taking the u. S
After the big gains for u. S. Stocks yesterday. A big swing to a rebound yesterday. Youre seeing bouncing around occur today, and that has been characteristic of the past week or so. Swings between gains and losses that finally ended up with a big gain by days end. Nasdaq lacking today even as the s p and the doubt gain for dow gain. The major averages from a percentage changes as of days. Obviously, we saw a big moves the past several sessions that are clearly more muted, at least thus far, in todays session. We have to offer that caveat because we have typically been seeing big action as the day goes on in recent sessions. As for the earnings winners that you heard vonnie talk about, snap is seeing an outsized thing with the 33 boost after the Company Reported earnings that Beat Estimates for the First Time Since its ipo. We will dig more into that in a little bit. We will also dig more into those disney earnings. Disney shares have been bouncing around a bit. On the one hand it is s
That the ecb is continuing crude getting a nice bid on the iran conversation. Looking at the banks, bank of america up 6 10 of 1 . Wells fargo unchanged. It feels like a really solid quarter for bank of america on earnings. It was the Consumer Banking unit that felt really good. Loans and deposits were up. They werely only at 834 million. David it looks very solid but we looked back to yesterday and thought citi and jpmorgan were doing well and they turned over. Alix fic was down 22 . Is the focus for banks turning to consumer loaning, which will make wells fargo allimportant . We want to turn to Michael Mckee with a very special guest. Michael good morning. Washington federal and Eric Rosengren joins us on the boston fed annual Monetary Policy conference. A special welcome to the Bloomberg Television and radio listeners, particularly those on one of 6. 1 fm in boston. Thank you for joining us 106. 1 fm in boston. Thank your for joining us. Nice to have you in boston. Michael we know h
Trumps updated policy which limits entry for six muslim majority countries is incompatible for regulations for tournament hosts. The last time the u. S. Hosted was 1994. Scotland may hold a second referendum on whether to stay part of the u. K. Late next year. The foreign minister tells the bbc she must there must be more clarity about britains exit from the European Union. Scotland voted to stay in the eu. It is said independence is inevitable unless the u. K. Softens its rights it stands. Brexit stance. A tax agency says the number of victims plunged last year by 48 . The irs says it has stopped nearly one million fraudulent tax refunds from being issued last year, totaling more than 6 billion. Identity theft exploded from 2010 to 2012, and peaked at the irs in 2014. Day,l news 24 hours a powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Scarlet im scarlet fu. Joe we are 30 minutes from the close of trading in the u. S. Scarlet stocks a
Government Officials Say they were released in a swap for detained leaders of the islamic extremist. Nearly 200 girls remain captive but it is unclear how many may have wide. The u. S. Air force is accelerating efforts to increase its firewalls after escalating Cyber Security threats. They are said to be tightening algorithms for networks that control everything from navigation of work lanes to weapons systems. Global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Scarlet we are 30 minutes from the close of trading in new york. Im scarlet fu. Joe im joe weisenthal. Matt and im matt miller. Joe u. S. Declines hearing by more than half after the s p was brought back from a three month low, but the question is whatd you miss . Data isek chinese trade fostering new doubts about the health of the World Economy is the Federal Reserve is preparing to tighten. Chairmanwells fargo and ceo is out, marking a stunn