Out as bridgewater flagship funds logs one of its first half performances in decades. And Rising Oil Prices boosts Energy Stocks after the uk calls irans seizure of a british tanker in the strait of hormuz an illegal act well, good morning, everybody and welcome to street signs. Were about one hour into the european trading session i just want to recap quickly some of the action we had in wall street towards the end of the week last week it was a weaker close for the three majors on the week the dow ended up about two thirds of a Percentage Points lower. S p and nasdaq little more than 1 weakish end to the week for u. S. Equities as we get into the heart of earnings season here. 28 of those released results have beaten sales and 49 have beaten on earnings according to data from goldman. Still right in the heart of earning season, about 150 S P Companies will be reporting this week worth bearing in mind that so far the market has tended to punish the misses a lot more than they rewarded
German defense minister steps down as defense minister ahead of a secret ballot that could cement her as the first female European Commission president. Manus warm welcome to your biggest concern to daybreak europe, and what is your biggest concern, a meltdown or a meltup . This is the msci world index. To bail on stocks. Central banks are giving you a gift, that is their message. More of a risk as equity markets go up, and people dont appreciate that. The question is, do you believe that going into earnings season . The least attractive market for them, the usa, their top calls australia and japan. A couple more markets, even i cant make wti more exciting than it is. Downgraded, what will the inventory tell us . And gold, it was red, i do promise you, ahead of retail sales. The point, if you want to protect yourself as yields go back up, do you want a little gold for protection . That is a question for markets. You have the glorious s p. [laughter] nejra it wasnt so glorious yesterday
And well ask why one of indias most succesful entrepreneurs known as the coffee king has died, in unexplained circumstances. Over the last couple of hours, all eyes have been on this man, the chairman of the Us Federal Reserve, Jerome Powell. Hes announced a cut in Interest Rates by a quarter of one percent for the First Time Since the 2008 financial crisis, when the American Economy was in the depths of its worst recession since the 1930s. We decided today to lower the target for the federal funds rate we decided today to lower the target for the federalfunds rate by we decided today to lower the target for the federal funds rate by a quarter of a percentage point to a range of 2 to two and a quarter percent. The outlook for the us economy remains favourable and this design will support that outlook. If we take a look at this graph you can see how us Interest Rates were close to zero for seven years after the financial crisis in 2008 but have been gradually rising since 2016. The main
To watch facebook, and tesla coming out on wednesday google parent alphabet amazon on thursday. Mike block what are are you expecting . We have some big names reporting this week and for much of this year ive been saying that it is all about growth. Well this is some of the big company chances to sew that can facebook and amazon and alphabet really answer some of the concerns . Last week we saw netflix blow up because their nonu. S. Ads werent good but we saw microsoft excel on cloud and whats it going to be for amazon the growth in retail sales . Is this going to be about cloud and alfa bet respond from last cant and continue to be the leadership here . And would that be novels for the overall market a good thing when four stocks are are amount for all of the gains in the s p 500 . Right so to your point this is the front page story in the wall street journal above the full story ill hold it up right there. Im a nerd i have newspapers. So it is microsoft apple amazon and facebook acco
We start in asia, where the british pound has fallen sharply, amid investorfears over a no deal brexit. Its now at a 28 month low against the us dollar. It comes as the uk Prime Minister, borisjohnson, has toughened his rhetoric on brexit. Michael gove, who is in charge of planning for a no deal exit from the eu, says britain is currently, working on the assumption of that outcome. Lets take a look now at where sterling is against the us dollar. Currently it stands at 1. 126. The bbcs Sharanjit Leyl has been monitoring trade across asia from our business hub in singapore. Bring us up to date on what the pound has been doing against the major basket of currencies overnight. While that is right, as you said, it continues to slide and has been sliding here in asia, lurking at the more than two year low against the us dollar that you just read out. Trading lower than it was in the initial plunge brought on by the brexit vote in 2016. To set it all into context, it hasnt been this low since