At 1. 77. The retailers had a down week, retailers investing them today, up 9 . It has been down 17 over the last five months. A lot of shortsellers along with the likes of campbells. After a better quarter, likely to have been a short squeeze. Guy here in europe, most sectors are higher. Stocks are higher. Volume is ok. Stoxx 600 is up 0. 5 . The pound is at session lows. Cable trading down. The euro is at session lows. The dollar 1. 1033. Vonnie lets get to the trade issue and President Trump saying there is a good chance of making a deal with china but that unrest in hong kong is a complicating factor. Congress has sent the president that bill tackling the hong kong question, backing the hong kong protesters. It is not clear if the president will sign it. Here is what he said this morning on fox news. If it werent for me, hong kong would have been obliterated in 14 minutes. He has one million soldiers standing outside of hong kong that are not going in because i asked him, please do
That goes to biogen. But broadcom still up 2 . The 10 year yield, 1. 79 . Guy lets take a look at where we are here in europe. We are trading toward session lows when it comes to stocks. Also a selloff when it comes to the oil market. The stocks now down the stoxx now down 0. 3 . In italy, bonds have been out in front of the story. They certainly been taking a much more cautious approach when it comes to the trade narrative and the Global Economy over the last few sessions. Equity markets have continued to push ever higher. Lets get some analysis on where we are right now. Lombard chief ts economist, joining us now. I want to start with your view of the u. S. Consumer. We seen two big retailers out today, missing. The stocks have been pummeled. Are you worried about the u. S. Consumer . Charles not really, to be quite honest. Guy why not . Charles i think real income is going up at a reasonable rate. The savings rate is not going to suddenly thaw, and therefore the consumer plunge, unt
Rollout of disney next week as well. Gap is down 7. 5 after the announcement that the ceo will step down. Change of any business might take longer. Guy here in europe, bit like the United States, moving lower on this trump headlines, and then bounced back up again. We are still negative on the day. The euro down as well. The dollar has been catching a bid today. What has been interesting is the bigger reaction in the bond market. Earlier today, italy was down for five basis points. Down by one basis point sorry, up by one basis point. We have probably seen a bigger reaction in bond markets then in equity markets, which is interesting. Its been a big week. Theres been a big selloff this week for btps. They are up by 21, 22 basis points this week. Lets talk about these markets, try to figure out where we are as we wrap things up. Erik nielsen, Unicredit Group chief economist, joins us out of berlin. How critical is it to the markets, to this trade deal, that we see a rollback of tariffs
Earlier. Still up quite substantially. Applied materials, essentially an earnings story, but having an impact more broadly only semis as well. Guy in europe this friday afternoon, european stocks broadly higher on the trade narratives. You can certainly see that in the sector breakdown. Volume is a little light. The pound rising, but the dollar on the back foot this afternoon. Again, the trade narrative feeding into that fx channel. When it comes to the bond market, a little bit of a selloff. We are seeing yields getting a little bit of a lift when it comes to the german tenyear. This week, we are actually moving lower on yields. Bonds in europe, at least at the core, beginning a little but of traction. Trade evidently the narrative this friday afternoon in europe and in the morning in the united states. Stocks rising. White house Economic Advisor larry kudlow saying earlier that the u. S. And china talk everyday , and is now down to the short strokes when it comes to getting that deal
Investors, adding two more seats, separating the chairman and ceo positions. Guy here in europe, we are approaching the 400 mark on the stoxx 600. The s p already through its record. We are monitoring what is happening on both sides of the atlantic but that is a really big level here in europe. We are up by 0. 3 for the moment. Hsbc doing what it is doing, down 4 . Biggest pointhe drag on the stoxx 600 this morning. The other store be are watching is happening with the british pound. We will see a vote later on this evening to see if Boris Johnson can get a vote. That is not likely to pass. The expectation is that we will get an election this year. Speaking of elections, voters in argentina choosing Alberto Fernandez to be there next president. What does the result mean for a country on the brink of default again . We are joined by Nick Bennenbroek of wells fargo. The peso certainly starting the note, then a up bestperforming against the u. S. Dollar, but this does not mean that we wil