Getting because we have a long weekend of no trading this holiday. Jonathan lets go around the world and check in with our bloomberg world news. Mike mckee is in new york. Then, a wrap of the g7 meeting. And then another warning about the cost of a brexit. Time, thetes government updates data on growth. We are joined by mike mckee who says the fed is likely to focus on bad news in the numbers. Mike half a percent growth in the First Reading of the First Quarter. That is likely to be revised up according to forecasts, but others on wall street will be focused on two numbers in the report. One is business spending and the other is our first look at corporate profit for the quarter. In the april minutes, there was a lot of talk about why business spending has contracted. As theyall companies decline, business spending has contracted. We saw that yesterdays durable goods report with capital goods unexpectedly falling. If we do not see profits rise, will be economy keep growing out a strong
Amazing. Futures 57, under 3 measured. Challenge. A the euro 1. 111. Elevated,was really 27. Sterling, 1. 3625. A difficult go of it. 1322. Julie this is my favorite part of the year. This is the pound index. You can see the incredibly tight correlation all through overnight trading into the morning. Only do we see a slight divergence. The white line is the pound index. All such lows, climbing a little bit higher versus the stock getting clobbered. Correlationkind of you do not expect to see in your lifetime. Scarlet this is not normal. When you look at how the cash market is doing, it is not that bad in contrast. Take a look at the bloomberg. When you break it down into sectors, you have attained main desk you have 10 main groups. Companies faring better. The losers are financials, the big banks. We want to show you within the dow the big movers. The dow has 30 members. The only gain is up by half of 1 . Stock is down. Alix now lets check in on bloomberg first word news this afternoon
We will have their ceo with us just before he goes on a conference call. Happened withat the failed coup on friday we want to see what the central bank ones are doing. They left their benchmark rate unchanged at seven and a half percent and cut their overnight lending rate about 25 basis points. We do have the lira depreciating slightly against the dollar. The Turkish Central Bank said it took measured steps for simplification simplification. The lira on the move to the downside. Lets get a check in on the rest of the market. Record highe fifth on the s p 500 in just under a week over a week. Future softer. The dax down by one full percentage point. All 19 Industry Groups on the stoxx 600 have been in the red so far. The ftse 500 down one third of 1 . Germany Investor Confidence absolutely plunging. The fx market, the aussie dollar getting absolutely whack. We have some minutes from the australia centralbank, very dovish minutes potentially setting us up for a rate cut. The dollar is u
Performing dow component over that time. So the big question for apple investors right now is, doubling down on retail enough to reboot this struggling stock . Kick off the discussion with Brian Sullivan and michelle ka russ russocabrera. Theres sliding glass doors, 6k video screen and the eyes probably cant pick up. Trees planted along its Customer Support section inside. Theres also a public plaza open 24 hours a day. Free wifi and live music. Apple retail chief says it is not about evolving store design. But creating a community for customers and visitors. But as sounds nice. Sounds gorgeous as tyler mentioned, should apple bet big on retail instead of focusing on the next big product is . Joining us is contributor jan niffen and john fortt and january, what do you think of this move . Apple is good at retail. Good enough move . Its not like they cant do both, right . Its the next great store and they have to have the next great new store and now they look like a microsoft store, ri
The 100 billion beer deal has been brewing for months is closer now to being a done deal, sabmillers board will recommend that Shareholders Approve a take overby anheuserbusch inbev, boosted initial offer to the postbrexit drop in the british pound. Facebook could you up to an extra billion dollars, a transfer of assets to ireland in 2010 and new york fed is asking the Philippine Central Bank to help recover 81 million stolen by hackers back in february. That 81 million belonged to the bank of bangladesh. Roeuters reports the money was mostly laundered through the casino industry. All right. Tyler, im brian sullivan. Check on your friday, the s p 500 despite that disappointing gdp print briefly hitting yet another new intraday high, it has since pulled back. The magic number to watch for a closing high 2175. In the meantime the nasdaq is trading at a 52week high itself up by big gains in google, amazon, and much more on those names ahead. We are also all over this oil slide. Crude oil