500 futures up about one third of 1 . Ftse futures higher by 2 10 of 1 . Unbelievable to see a zillion euro in the mix a resilient euro in the mix. The story is the equity market yesterday. The more cyclical sectors, bottom of the pile in the u. S. And europe, Energy Stocks having a tough time of it in 2020. Annmarie they have. Both sides of the atlantic, energy getting pummeled. That brings us to bp results. The first of the oil majors to report earnings kicking off the week. Adjusted net at 86 million. The estimate was for a loss of 116. 8 million so that is something that will boost bp. Is expected to fall in the fourth quarter. So far, it is not looking too bad. Analysts were expecting a loss because right now, the refiners are having trouble turning a profit because demand is so low. When you turn that crude into things like gasoline, the demand is not there. The volatility buying all the oil and selling it at a higher price, that saves a lot of these majors in the last quarter an
Busiest week of earnings thus far. Trillionlmost 16 worth of corporates reporting. We need to figure out exactly what the set up looks like. Lets do that with scarlet fu. Scarlet what we have learned so far as we are deepening in an earnings recession with more than a quarter of the s p 500 having reported. Third quarter etf down 18 . Third quarter revenue down last, but still up 4 versus last year. We have definitely turned the corner because declines in the top line and bottom line are less bad than it was in the second quarter. It may even turn positive by the second half of 2021 when the conversations become easier. The market had priced in all of these Third Quarter declines. So far, so good. 500 are topping estimates overall. Sales are beating estimates by 3 . That is the most in two years. Eps is surprising to the upside by 18 , slipping from a 23 margin in the second quarter. Gina martin adams says Growth Companies are beating estimates more widely than value companies. When ea
Well in many states. Businesses are holding back from spending amid the pandemic and stimulus talks appear to be at a standstill once again with leaders from both sides accusing one another of moving the goal posts in the negotiations. Unlikely we will get a stimulus before the election. 59 minutes to go, dow down 2. 2 . Lets get to the stories we are watching right now as stocks fall sharply mike santoli is tracking the market selloff for us. Which parts he is watching in particular meg tirrell digging into the latest covid numbers mike, whats the broader take on what is happening today average bit of a rethink on a mull pent fronts the idea that covid might cause more business disruption last week the s p 500 was skirting this boundary between this sort of breakout level we had and around 3,400 we are actually below that right now. Did a little bit of damage s p and the nasdaq fell below the 50day average the s. A. P. Warning probably evented the nasdaq from doing a better job of sup
What are we doing what, when, and how will it turn out to secure jobs and economic recoveries engine trouble shares in royals royce fall toward the bottom of the European Market as the Aerospace Engineer sees the Credit Rating cut. And the European Commission reportedly strikes a deal with roche to supply covid19 treatments to eu Member States but the swiss drug maker telling us its committed to meeting the needs of patients worldwide. And the stock markets here in europe have been trading for an hour so well well dive into what were witnessing the market has moving slightly positive modest gains here. Not exactly keeping pace with wall street where weve seen gains on the three major indexes but markets have been softer especially on the core markets theres been a lot of german stocks, in particular. Its been slightly disappointing week in terms of pace of acceleration for stocks here as the heat map is telling you, theres fairly evenly split trade between some of the gainers and loser
Will reopen the economy if it is safe. And the italy and italy and lowering in the number of cases. Manus we are getting some breaking news. We go to the heart of earning season. Single structure. Jennifer may will leave at the end of may. Numbers, First Quarter, nonir four f. They see a solid start to 2020 despite the eye of the coronavirus storm. And First Quarter results, they theyted some softness and had said there was a little bit of a dent with a significant new business having been derailed. They see a solid start to 2020 amid this covid19 crisis implying a strong rebound. In the structure at sap. We are waiting to see if any other news is coming through on their dividend. Good morning. It is all about the oil market. Nejra absolutely. 20 7 revenue increased for sap. The tech sector is going to be in focus this week. In the u. S. As well, we have the following revenue and the pulling away of the forecast for ibm. Tech has been resilient in the equity market. If that falls, we m