Markets overall we have pushed higher the s p up. 2 . There are plenty of individual stocks on the move, including wells fargo as the best performer in the s p onward that it will have a new ceo. That ceo has a lot of banking experience. A couple of little quirks. Generally, people are happy with him as that wells fargo ceo. Micron is down, disappointed and a big way when it came to its earnings and growth forecast. Some analysts are being easier on micron saying this is the lowest point it will see, the bottom. Also, expectations were too high. Citi is saying expectations were too high. ,uy the stocks are fluctuating investors may be looking past the Political Drama in washington, trying to focus on a mixed bag of economic data. We also have the chinese stories still rumbling along. How do you price this . That is the challenge. Price the Political Risk right now . It is on both sides of the atlantic. It is enormous. It dominates the headlines. Thetrying to figure out, if pricing mech
Saying his call was wonderful. The white house was already trying to keep the record under wraps. Thecycle Fitness Company third worst unicorn debut since the financial crisis. Woworks cash plans go awry. Shery lets get you started with a quick checkup on how markets closed. It was a broglie risk obsession with stocks losing ground, at treasuries advancing, and the dow lost 80 points. The s p 500 lost. 25 which was the fourth decline in the last five sessions. We started lower given the whistleblower complaint in that impeachment inquiry against President Trump was released, but then, this was exacerbated after u. S. Officials talked about that temporary waiver for u. S. Suppliers to send their products to huawei. It could probably not be extended. Market sentiment was rattled. The nasdaq fell. 6 . Energy was the biggest loser despite the fact that we did see crude prices recover after we heard reports that the u. S. Would be sending military equipment to saudi arabia. U. S. Futures at
European equities. , bit of a down day to end though it does not seen anybody is taking a huge position ahead of that jobs data. We have stock and bond markets close in the u. S. Yesterday as treasuries get going again. ,e saw a bit of a basis Point Holding at 1. 95 on the 10 year yield. Bund yields are just above that level. The euro is weaker am a down. 2 , 1. 1265 f disappointing german factory data. Coming up, we speak to larry kudlow. Lets get bloomberg first word news. Thousands packing the National Mall to watch president Donald Trumps fourth of july speech. He praised the u. S. Military and American People, but also put himself front and center of the Independence Day celebration. The event included tanks, flyover jets, and culminated in an extended fireworks display. President trump we celebrate our history, our people, and the heroes that proudly defend our flag, the brave men and women of the United States military. Together, we are part of one of the greatest stories ever t
That may not be so easy. The s p 500 down 0. 5 . Chip stocks playing a part, which has the nasdaq down even more than that. 10 year yield bouncing up a basis point 02. 2. 01 earlier. Apple got a downgrade at , now with sell ratings at five analysts. Lira moving since resident erdogan this mist the Turkish Central Bank governor. Guy we are going to talk about that later on. Lets talk now about the Deutsche Bank story. Christian sewings plans for Deutsche Bank, the ceo says the company is going to return to its roots. It is going to exit its equity trading business to contribute to the banks workforce being slashed by 1 5. The Market Reaction today, shares falling in frankfurt come the some analysts saying targets of the plan will be hard to achieve. The company cfo had. O say sonali basak joins us now. Deutsche bank wants to return to its core, but getting there is going to be a difficult journey. Sonali even with the execution risk we are seeing here, the goal is i 2022, 8 return on ta
Can todays sales smash records . Have a look at what is happening to european equities. Gmm is your function. Talking you through all the various asset classes. Those other currencies that are falling against the dollar. Sovereign bond yields are rising. That is the situation. So many things to tell you about. Lets start with a south african rand. The rand rallied, today amid relief from last weeks assessment by Credit Rating companies. A did not deliver the deathblow that some anticipated. This is dollar rand. Earlier today, the rand is rising. The dollar is declining. The fall has been unwound, today. The rand is rallying by 2 . A bit of a move. Moodysratings warned it may do the same, leading to a rewaiting reweighting. This is a chart that abigail showed earlier. It twice on bloomberg markets, because that coin is showing no signs of slowing down, blowing past 9,000, less than a week after shopping 8,000, quickly closing in that 10,000 figure. This does not show you the price, just