hello and welcome to bbc news. banks and governments around the world are nervously watching the european markets to see if the crisis surrounding credit suisse will develop into a global banking crisis. so far the markets seem reasonably calm with shares in credit suisse rising almost 30% after the swiss national bank gave it a lifeline. and other stocks are up too. but there are concerns that a potential interest rate rise later on thursday by the european central bank could add further volatility to the situation. earlier our business presenter sally bundock explained why the situation at credit suisse was notjust important to the financial community but to all of us: a real worry about credit suisse. if that bank, which is 160 odd years old in switzerland, were to fail, it could have the same effect that the lehman brothers collapse had in 2008, which is it brings a huge amount of fear within markets about the stability of other banks. so people therefore act very quickly
Continues to look dicey ahead of critical Earnings Report next week well discuss what is riding on that during this final stretch of trading elsewhere, chevron, a huge drag on the dow today after its earnings and concerns about its planned deal with hess j j, amgen, look at them also weak them, weak spots, de health care putting in a tough week we are watching jpmorgan, too, you heard the news yet again a moment ago, down near 4 jamie dimon will share some shares for the first time as that companys ceo it does take us to our talk of the tape what might the week ahead bring with apple on deck the fed meeting in focus, and probably so much more. Lets ask the chief Investment Officer for new edge wealth with me here, good to see you welcome back as i said, an ugly end to a pretty rough week, what do you make of it it would have been nice to see a healthier bounce, mostly coming out of yesterday, where a lot of the indices got shortterm oversold. We saw the rsi hit oversold levels some of
No. Absolutely not i think a lot of is because of the decline we had earlier in the month, down 5 i think it was healthy i think its all about earnings. Look, so far earnings are growing at 4. 7 . Thats not really statistically dramatically above what the consensus was at somewhere around 3. 6, 3. 7. It doesnt feel that way i think this week is a big week just in terms of can amazon yep and i think its really amazon, can amazon extend the momentum from last week that was delivered from alphabet and meta can apple stop the momentum schneid. Anastasia, the fed meeting, and maybe the risk is the fed chair giving the most recent inflation reads, and that read was better than the most recent cpis, and so what do you think i think it will be really hard for fed chair powell to send hawkish given what he said a couple weeks ago, and the 2year it has priced out but one cut for the remainder of the year, and its 125 basis points priced in to the next five years, and the market is where the fed
Julie a flip of yesterday where the doubt was the winner and the nasdaq the loser. Dow losing steam. Nasdaq points as the gains a half of 1 . Not recuperating all of the losses we saw yesterday. Making progress in that direction. In addition to the tax plan jockeying for position, we have ended your positioning and rotation we have been talking about. Lets look at the bloomberg to see what is up in what is down. Technology is the best performing group in the s p 500. Health care and financials also getting but not by nearly as much as with utilities and telecom the two worst performing groups over the course of the session. To emphasize the move in technology a little more, large cap, we are seeing some significant winners. Amazon, nvidia, alphabet trading higher. Amazon potentially getting a boost from stories out today. The wall street journal reporting big advertising firms plan to boost advertising spending on amazon between 40 and 100 next year. Amazon declined to comment for the
Likes it is 2 00 in new york. 7 00 in london. Welcome to bloomberg markets. Julie live in new york over the next hour for the top stories were covering around the world. The world according to george soros. He shares his latest use on markets and the Trump Administration in a bloomberg exclusive. The anticash club. Urging investors around the world to stop keeping money in cash as stock markets climbed to new highs. Broadeninge of a expansion in the global economy. Look no further than caterpillar. We have u. S. Markets closing in two hours. We are back to record highs. The nasdaq has a little bit further to go. At this point we do have record highs, gains for the major averages. Putting in all time highs, the nasdaq had been between gains and losses in the volatility we saw yesterday, the worst day of the year. Overall a bullish tone. The nasdaq has the biggest wade into apple. Apple will launch an ebook reader. Weighing on apple, some analysts are talking about the possibility of wee