Guy good morning. You are watching the pulse. We are right here in london. Im guy johnson. Europes Biggest Investment Bank, germanys biggest bank is racing for its biggest loss and a decade. Deutsche bank could scrap its dividend. Its boosting reserves for legal costs. Sounds like a bad thing. Ryan chilcote here with the details. We got a lot of bad news. It sounds really terrible. But stock is up. What is going on . Ryan the Immediate Reaction was negative. The stock is up. There is a giant competition going on. The balls the balls on the up. K the stock now why . A lot of people saying we thought when they did this announcement we were going to get a Capital Increase. The fact that the dividend is going to take a hit, is a do it is a positive. It increases the likelihood of a Capital Increase down the road. Analysts whonty of think a Capital Increase could happen here it happen. Ryan the second issue is take everything that was happening in the statement to the side, look at pretax p
With the vicks towards 23 or so. You see everything here, teshg financi financial, consumer discretionary. Youll notice energy is not doing as bad. Energy was doing significantly less bad just a short while ago but thats changed a little bit as oil has started to move into negative territory. Show the xle, which is the energy etf, the Largest Energy etf out there. Thats been moving down in the last 15 or 20 minutes. Thats why the markets have taken another leg to the downside. Its the Energy Stocks that are down. They previously were somewhat supportive. Elsewhere, theyre having a down day, particularly weakness in automative stocks, volkswagen, bmw, daimler. They all have 10 to 20 of their revenues over in china. Ford and gm do not. They have very small percentages of their revenues in china. 4 to 5 for ford. Theyre not down nearly as much as their counterparts over in europe. As for the financials, this is one of those days it really doesnt matter whether youre dealing with a Big Mon
Welcome to Worldwide Exchange here on cnbc, im sarah ivan. Im wilford frost. Hold on to your hats. The Global Markets look to be on another wild ride. Well bring you up to speed on the major moves. First, some sad news out of the world of music this morning. Singer david bowie has died at the age of 69 after an 18month battle with cancer. His hits include the one were listening to, lets dance. More on his life, his legacy and a lot more of his music. First, here are the big stories were watching at this hour. Chinas central bank setting the yuans midpoint higher. Chinas Foreign Exchange regulator urged them not to be alarmed talking down the yuan saying the chinese currency remains relatively stable. Despite the high yuan, chinese stocks dropped sharply in late day trading. The major indexes dropped at the lowest level since september. Economic data of note from china adding to our consumer inflation barely edged up last month whilst Consumer Prices continued to fall. Lets see how its
Sfgtv staff. Thank you for your work and madam clerk, do we have any announcements . Please be sure to silence all cell phones and Electronic Devices speaker cards to be submided with the clerk. Okay. Very good, just to go through todays agenda. We are going to go into a little bit out of order after our minutes, and we are going to go to our appointments item number six we will move up to after our minutes. Lets go to item two. Approval of the lafco minutes from the may 16, 2014. Any comments or questions . Motion to approve the minutes . We will hold that motion in abuy ans and seeing no member of the public coming forward we will close Public Comment and we have a motion from commissioner breed and seconded by campos and we will take that without objection . And lets go on to item number six . Consider appointing one public member and one public alternate member, terms ending february 22, 2018, to the local Agency Formation commission. Okay. Thank you, madam clerk, and so colleagues
Quarter gdp, personal income and spending, new home sales and consumer sentiment. On wednesday, weekly jobless claims will get here a day early because of the holiday. A big part of the story on the markets and the economy, oil with the latest lumberg survey showing gas prices dropping to the lowest level since may of 2009. The National Average for a gallon of regular unleaded is at 2. 47. And andrew, welcome back. Thank you, becky. It sounds like Nothing Happened last week. It was kind of boring . What happened to the market in cuba . And russia. And then the whole i dont know, i feel like a lot happened. Anyway, well tell you what is going on in corporate news. The price over a new hepatitis c drug expressing its largest plan is now going to be offered for treatment with patients that have the most common form of the virus. Starting in january it will exclude drugs from gilead and Johnson Johnson. Meg terrell is going to join us with that story next half hour. And ocwens executive ch