Britains watchdog gives the green light. Boeing is the biggest drag on the dow, expanding this probe of the production defect on the max. Lets begin with the banks, jim. Overall, not just the beats, some of the commentary about Investment Banking, efficiency ratios look good. Its funny because obviously this group came in as cold as ive ever seen it. What a change from even earlier this week when pepsi came in hot and then rolls over. I mention that because that was the first big quarter. These quarters, when you listen to them, you forget how much money they can make in this environment. And then you start thinking, you know what . These things are seven, eight, nine, ten times earnings. Theyre trading like steel mills, and theyre really filled with a lot of smart people who are doing a lot of good things who show you they can make a lot of money without underwriting, without m a. Theres going to be a revaluation here, recognizing this group had become really went to the bottom of the
Step in and curb their rise. Hes here with his proposal to lower rates by a full point. The dow has been fluctuating. Up 327 at the highs, up 67 right now. S p is down 15. Nasdaq is down 1 . This despite lower yields across the board. Today, the tenyear down seven basis points from yesterdays close, around 4. 63. As for Bank Earnings this morning, shares all higher on stronger than expected results, but well off the highs. Jp and wells fargo a little more than 3 up. The ceo jimmy diamond noting it was overearning and he expecting that to normalize over time. Pnc, shares are lower by almost 4 after missing on the top line. They beat earnings estimates, but, again, their Loan Loss Provisions came in at half the estimates. By the way, it wasnt just them, the big banks did this, as well. And financials are where we kick it off today. My next guest says hes bullish on the big banks, especially goldman sachs. Also with us, lets bring in frances donald, w. Out with a recession call today. Tha
Buying yields in oil are lower roadmap begins with disney better than expected with streaming numbers nearly breaking even. Shares, as you just heard, under pressure. Plus elon musk reups his ai warnings saying it will over time biological intelligence speaking of ai, ill be joined by the man sam altman calls his secret weapon at open ai as well as former treasury secretary steve mnuchin. That will be over the next couple hours carl all right lets begin with disney, guys. Lower in the premarket got the raised guidance. Narrowly overall streaming losses to about 18 million. Disney plus and hulu with a surprise profit. Box office sales did see a decline in the period, jim as julia just pointed out, although parks and experiences up ten, some moderation, and post covid travel. When you go over the arpu, the average revenue per user for streaming, its quite good india the amount of money they were making on the indian sub is quite different would i go into this train wreck and buy it here
Lore, then paring back some of those losses. Lets check the a markets, right now the down is down 84 points. The s p 500 down 10, the nasdaq has been fickle as a well today, flitting back and forth over the unchanged line. Right now though down 33 points. Those are off session lows. Were going to be focus on that all day. The techheavy composite, the nasdaq, has been buoyed by tesla. Top of the index right now with an 11 gain. Tesla are reported earnings, miss on eps and revenue expectations. Theyre trying to navigate slumping sales, falling demand for evs and, of course, competition from china, but promised investors it would speed up the development of new, more affordable vehicles. Of course, looks like very happy to hear that. Investors and analysts also flagging one quote from elon musk that claims tesla, its not really an ev maker after all. I think cathie wood said it best, really we should be taught of as an a. I. Robotics company. If you value tesla as an automobile company, y
Industrials, s p up 23, the nasdaq up 1022. Russells got a gain of a 15 points and the transportses a nice move of a full percentage point. Just about anything, we should say, that is chiprelated due in great part to a. I. Momentum is moving higher. Intel is right up there as one of the top performers with a, lets see, 4. 55 gain, that is a good move. Applied materials, up 2. 25 . These are the aaas, aat mat, apply frommed materials and amd. And how about arm . Arm having a strong session. Hpe at the bottom here, it is not specifically e a chip stock the, but it is getting a 3. 5 bump on recordbreaking order at its a. I. Unit. Coming up, ceo with antonio nary is here in a fox business exclusive on the brave new business hes doing in a. I. Okay, so if you noted, i said just about everything chiprelated because we needed to leave room for micron which is going in the opposite direction. Shares of the worlds fourth Largest Semiconductor manufacturer having their worst day since may. Stock