Nejra welcome to surveillance, with another record on the s p 500 yesterday. We could have another flat day. What will earnings bring . Thanksunderperformed underperformed banks underperformed. The fed decision is a big focus point at the end of the month. Yearrday, we saw the 10 bund yield dropped the most in four weeks. Edging up a basis point. Coming up, great interviews for you today. The acting managing director of the imf, david lipton at 10 a. M. London time. We begin with citigroup vowing to keep cutting cost despite managing to save more than expected. Trading revenue dropped 5 , Investment Banking slumped 10 . The chief executive says this year it aims to return 12 on tangible equity. Nancy pelosi says the house will vote on a resolution condemning President Trump for his attacks on four female lawmakers. Says the comments wont distract them from pursuing their agenda. Have beenents tweets widely condemned. If you are the leader of a great multicultural, multiracial society,
Crucial vote later today we want rules based order because we know it is better for all of us. We have to do it the european way. The european Financial System marks the 75th a anniversary as one of its keystone institutions looks ahead to transition. Well speak to david lipton in his first broadcast interview since assuming the acting managing director role good morning ursula van der leyen has told meps that the continent must stick to its free market rulebased traditions in the face of a changing Global Economy. In her pitch before the European Parliament in strasburg, she said the eu must be able to hold its own with the likes of the u. S. And china with that, lets get out to david lipton who joins us from paris where the bank of france is marking its 75th anniversary. Last time we spoke was a couple month months ago since then theres been a few developments on your side, namely your former colleague, madam regard lagarde will be moving to the presidency of the ecb. Can we give an
Weak in the session. Joining us is josh brown welcome back. Good to be here are you also in celebration mode after jay powell . Im also in celebration mode. We got all but a promise of a rate cut i think in july. Theyre going to do it. I said earlier, he foamed the runway for what ithink the market knew he was going to do the thing is, i dont think its necessary, but i also dont think its harmful a 25 basis point rate cut most likely, the best example of Something Like this, that i can think of from recent history is 1995 you had a new alltime high in the stock market the day they did the cut, but it was a single cut. And a lot of the reason for that, they had done a surprise rate hike in 1994, which kind of crushed the bond market, people were shocked i think what the 1995 single cut was about was taking some of the pressure off from that, maybe also like a mea culpa, we didnt need to do that that maybe thats what this is most like, and it would be likely we make a new stock market hi
News that cuts to stop Green Energy Solutions and resource station. Crew to interact its content teaching the next generation but it took such action. Using the channels available to people to take action. And were determined to done some thinking for the next generation. Sfi environment series of global 3000 on d w and online. U. S. Lawmakers grill a top facebook executive over the companys plan to leave for a crypto currency. If the tech giant cant convince washington to trust it what are the odds it can sway regulators around the world. Also on the show the good times continue for 2 top u. S. Investment banks. Reported Solid Earnings but its not all positive news on wall street. And a new space race is preparing for liftoff and a german firm stand to profit from nations and companies lofty ambitions. This is your d. W. Business report im stephen beards in berlin thanks for joining us facebook executive david marcus told the New York Times last month that the companys new Cryptocurre
Economy. Contrasting fortunes. Jp morgan cuts its fullyear forecast. Goldman sachs revenue bucks wall street trend. Shery later in Bloomberg Technology global link, we will be talking about the showdowns in washington facing Silicon Valley. Lets get a quick check of how the markets closed in the u. S. Regulatory scrutiny in congress being felt across the market as tech stocks underperformed in todays session with the s p 500 now holding the fiveday rally. We had President Trumps comments on tariffs dampening sentiments as well. Tech giants took a hit. We had Energy Producers leading some of those declines as we continue to see the selloff in oil markets. We had u. S. Bank earnings. They little bit mixed. Goldman sachs managed to jump after beating the unit. We had some strong data out of the u. S. When it came to retail sales. That sent yields higher but at the same time, chair powell speaking in france about taking appropriate measures to deal with the economy. That led to the yield l