Profitability. It all comes down to cost cuts. Hsbc heading annual cost of bout 5 billion. Jonathan he had a bit of a message for the bank of england. Alix and it come downs to the Retail Banking sector. Were going to have a big interview in the next three hours, talking commodities with the new man in charge over at oy tinto rio tinto. You look at overall at the arkets, it seems to be a risk. Jonathan s p 500 futures marginally negative. In europe, its the ftse 100 thats soft but no drama. Hsbc stands sure leading the gains. In the f. X. Market, this is the one to watch as the cable rate against the u. S. Dollar ahead of the bank of england decision. We are positive on the day but we trade at 39. 78. And ahead of pay rolls friday, ahead of the bank of england decision on thursday, yields coming in on 30year treasurys and off 30year gilds as well. Alix time warner increased its full year outlook and a 10 investment in hulu. You can glean it beat on earnings coming in at 1. 29 a share b
Search. Is it losing its safe haven status . Away from ther close of trading this monday. Lets head to markets desk were julie hyman has the latest. A bit of a sleepy day today. Julie this has been characterizing trading over the past couple of recently as we have seen stocks take a pause after a fiveweek rally. Seeing volume in the s p 500, 34 below the 20 hundred day average. Quite a drop. We already saw a couple of the lowest volume days of the year. That trend is continuing as major averages are little changed. Elsewhere, in other at its, you take a look at the treasury market. The 10year note. We have seen the yield work its way lower. We got a gdp revision higher on friday. We got data not quite as estimated and we will hear from janet yellen speaking tomorrow before the economics. We could get more direction for the market and treasuries. We are seeing the yield go lower. Oil and gold watching as well. We see buying and treasuries, the safe haven buying is not extending to gold,
We still have some markets closed overseas. Volume was down 20 versus its 10 day average. Within the s p, energy was the biggest laggard, off by just 1 2 of 1 . You had Consumer Discretionary and materials leading in the winners category. General electric at its highest level since 2008. It was like a stealth rally. People were talking about it so much on Program Twitter that our social velocity index had an alert. I cannot find a reason for it. Tracy i did not see was there a reason for it . Alix a very interesting development. Tracy i wonder whats going on there. Jolly take a look at currencies . Shall we take a look at currencies . We did see the u. S. Dollar snapping a sixday rally, this again thanks to traders thinking about the potential or not potential for a fed Interest Rate rise. We saw some disappointing economic interest economic information today. ,ooking at the brazilian real that continues to rally. It is absolutely amazing. We had speculation that the president is getti