Artan. What a day we are having and what a week we have had. There is the stoxx 600 come up by 0. 1 . The best run since november 3. If we finish. 10 higher today, we finish higher for a second consecutive week. By 0. 7 , the highest level of the euro against the dollar since december of 2014. Chancellor merkel and the social democrats have reached an initial deal. We had the minutes from the ecbs meeting yesterday. They suggest they are ready to tweak their policy guidance. Hawkish comments this week from other ecb members. Throw in Economic Data and that is why the euro is moving higher. Highest level in five years. China today, saying it has imported a record amount last today, weoming up get calls from this man. We get his take on the latest news out of washington. Ellen zentner. Reporter export rose. 4. 5 . Growth slowed to trump is said to have decided to expand sanctions ran, leaving the 2015 Nuclear Accord intent. But the administration is preparing new sanctions over iran. The
Days. The eurodollar slightly weaker, that uptrend to seems to have been broken with a stronger dollar over g10 with the exception of the yen. Its a buy treasury single after the big selloff we saw yesterday and goldman doubling down on bullish commodity bets. I want to take a quick check on the safety Asset Classes. I mentioned dollaryen, portugal if you want to take on risk, go to portugal. The yield there is down by eight basis points with a lot of buying going across the curve over in europe and the vix at 29. Gold is up by four dollars now. The vix at 29 feels like the different world. David people werent buying gold. Alix gold is really liquid, its not surprising saw some selling if you needed to get liquidity. You covered gold, back and forward. , the new york fed president space of the European Chamber of commerce in new york city at 10 30, crude Oil Inventory data will be released and 21st century fox and tesla both post earnings, coming up today. Terms the first take, the sto
For north of 2. 5 or three hours is enough to make you lose your mind. I am honored to be back. Lets talk about time warner. Reported earnings facing analyst in the secondts quarter. Sales rose 8 over companies per 7re as revenues reached billion shares for time warner. Point a full percentage for the s p 500. Seeing dollar signs. The billion exceed dollars. Television ratings should benefit from the time zone. Ahead. E hour ,he International Monetary fund major benchmarks, and that significant work in analyzing decidingrequired when currency reserve status. The euro, the yen, and the pound. Baskets of currencies. Stephanie Republican Voters will not start their nominee for six months. Already split into front runners. Primetime televised debate while night. That pushes rick perry and six other candidates into an earlier event. Donald trouble be the front runner. Front and center when the cameras come on. Slamming his closest rival. He waits in ways and you are not allowed to talk to t
Cutting the top earner rate to 35 and are leaving it to congress whether to provide create a higher bracket. Our bloomberg reporter has been for a while and is on capitol hill. They get got a uniform frame hold. Is this possible . Sahil it is not clear that it is possible right now. Right now this plan is a lot of sugar and not a lot of spinach. Of course people want to lower their rates and add additional benefits like lowering the standard deduction, but we are talking about multiple trillions of dollars. It would be a huge hit to the treasury if they passed it as is without eliminating loopholes and carveouts they say they will. I do not see how they can do it mathematically. Shery any details at all on how they plan to effect those rate cuts . Sahil they are talking about eliminating itemized reductions rather than mortgage and charitable giving. Implies the elimination of the state and local tax level. That is going to run into some headwinds among republicans. It is mostly blue s
Shrink the feds Balance Sheet. David . David were goined by mr. Campbell who covers banks for bloomberg and alice williams. She was a banker for Morgan Stanley and u. B. S. Lets start with the numbers because they broke 15 minutes ago now. Theyre basically up across the board according to estimates and last year. Mr. Campbell thats right. Really what this is about is the expense story. It looks like thats our initial read, noninterest expenses are lower than analysts had expected so bank of america did better on that. Credit cost provisions are ower than analysts expected. Thats a good story. People may have questions on Revenue Growth. Bank of america came up short on Net Interest Income with Interest Rates rising a bit during the quarter. Theres interest there. Bond trade chg was going to be there were a lot of good expectations for bond trading this quarter. Bank of america came in short on that. David focus on the trading because it came in low. As you point out the Fourth Quarter