Welcome to power lunch. Im becky quick. Take a look at the markets at this hour, check things out, youll see theyre barely bud budging when it comes to these markets. The dow is flat, so is the s p 500. The nasdaq not even moving by a point. Its the first up day in the last three trading sessions, but up by a point. Oil prices, off a cliff there. Financials are leading the pack with Goldman Sachs among the top performers in the dow. And its another bad day for macys. That stock hitting levels that we havent seen since 2011. All right, becky. Also happening this hour, Global Economic growth should come in at its highest level in six years, but the oecd did cut their forecast for the american economy. Can the president really deliver on his promise for 3 growth . Plus, two Intelligence Agency chiefs saying today they never felt pressure from the president to intervene in the russia probe. All of this comes ahead of james coyles testimony tomorrow. And on a lighter note, go get your ticke
We are discussing with joe manchin, the senator from west virginia. It is a big drama. Jonathan as you know very well, there is a big question of whether it is drama or it really affects the world such as markets. Jonathan thank you very much. Lets begin by getting a look at the markets. Looking at futures, this morning. We go nowhere. Up about a 10th of 1 . The euro a little bit weaker. Treasuries on offer at the margin yields, creeping back off those 2017 lows. Alix i am taking a look at dollaryen, a really interesting morning for that currency pair. Exit from a monetary stimulus could be on the agenda at the boj. Dollar caught a bid and now dollaryen up on the day by 2 10 of 1 . Definitely an interesting level to watch. The vix goes nowhere. Well,s where, gold as off by about two dollars. Crude up by 5 10 of 1 . Lets count down to one of the big events. Less than an hour from now, we will hear from the European Central banks latest Monetary Policy decision. It is believed mario drag
Its a good start says Angela Merkel of theresa mays plan to guarantee the rights for eu citizens living in britain, if the favor is returned by the continent. But Jeanclaude Juncker doesnt seem so convinced. I want to reassure all those eu citizens in the uk who made their lives and homes in the uk that no one will have to leave we wont be seeing families split apart. This is a fair and serious offer. Has theresa may stepped in the right direction . Its a step but the step is not sufficient the Irish Government hailes the success of aibs ipo as a milestone, after the bank raises 3 billion euros spurring a rally across the sector. Chinas csi index closes up over 3 despite the jitters around wanda and fosun amid reports chinas regulator warned of their Systemic Risk its a clean bill of health for americas banks. All major lenders passing the federal reserves latest stress test raising the prospect of a pick up in payouts to shareholders fabulous to see you this friday we have a tired loo
And im watching copper acteding better than expected up 1 . Now for a quick look at the week ahead. It is quite a week. Tomorrow earnings from bank of america and Goldman Sachs. Then Morgan Stanley. Then the inaugural meeting of the u. S. China economic dialogue will take place in washington. At 8 30 on wednesday we get u. S. Housing starts data. Economists forecast a jump for the first time in four months. Then thursday, followed by the president 45 minutes later. And the bank of japan will release its Monetary Policy decisions. At 8 30 eastern its weekly jobless claims. Then friday well have earnings rom General Electric and honey well. And then shell watch her episode of game of thrones. Overnight we have important and encouraging Economic News from china. Joining us now from hong kong, it looks like a beat pretty much across the board. Take us through it. Good morning. A big set of numbers for china, shows that theyre on tract to contribute one third of Global Growth this year. Its
Beating Goldman Sachs. Coming in atates 1. 5 billion. R. O. E. Over 9 . There with us to discuss is Alison Williams of Bloomberg Intelligence. Your take on the earnings . Too few things . Wealthover 9 and their margin coming in at 25 . We saw that strength at bank of america, we saw strength at wells fargo which was a precursor but those are key metrics. They focus on that r. O. E. And the margin is one of the goals they focus on to get there. Fixed debt in line, the banking fee is something we have seen. Alix what have we learned about Morgan Stanley on Goldman Sachs . Is it all about commodities . It is more execution. Alison it to be a little bit of both. Every quarter is going to be different in terms of where the strength of the overall business is and depending on where the strength in the industry is, that is going to impact who is doing better. And of it is just business product but goldman also says for a Second Quarter in a row they did not navigate markets well. That is what