The president criticizes the fed and europe as powell testifies this week. Deutsche bank announcing massive job cuts, exitinging Global Equities business, a highlyanticipated 8. 3 billion Restructuring Plan, but will it be the last. Another controversy brewing at starbucks well tell you what has the company apologizing this morning. Late last week, the s p was at within striking distance of 3k. Since the release of the stronger than expected june jobs number on friday, stocks have fallen on dampened hopes of a fed rate cut as the chairman prepares to testify on the hill later this week the president ramps up his criticism of the fed over the weekend. Take a listen. Despite everything, theyre not doing well and were doing great. Theyre not doing well at all, were doing great. Were taking money out and Interest Rates have gone up. If the fed didnt do what it did or even half, we would have the dow that would be as good as it is, it is doing good, but we would have a dow that would be any
Yield . What are you guessing . Around 2 . Lets take a look and see if youre right. Yep, we manage no were at 1. 8. Pardon me for that for forgetting how low we had gotten over the last week or so in terms of what it does cost the u. S. Government to borrow for ten years. Still well better if you compare to france bore rogue. 635 or italy at 1. 6 . Road map this morning starts with Morgan Stanley suffering the same fate as breaththren. Well break down results for you. Johnson johnson posts mixed quarter. Hurt by what else strong dollar. And around the rest of the world, imf cutting its outlook. China posting its slowest growth since 1990. And qe that is certainly on the docket, isnt it for europe this week. Lets start with Morgan Stanley. Its the latest Financial Firm to miss on quarterly results, at least according to what the analyst whose follow the company had expected. In this case hurt by what appears to have been weaker trading revenue out of its fixed income unit excludeing ite
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Braunstein, a former finance chief of JP Morgan Chase, invested in Deutsche in 2018, backing Chief Executive Christian Sewing's efforts to turn around Germany's biggest bank and making him one its largest shareholders. Braunstein declined to comment on the reason for the reduction. Deutsche Bank, whose shares have risen 35% since Braunstein's investment was announced, said in a statement it was aware of the move, "which we understand is an in-kind distribution to certain" limited partners.