Apple warning that coronavirus will hit revenues. The drop in apple surprisingly small. Flat as investors see little new in this reboot. We are going to get 35,000 job cuts, though. And franklin buying legg mason. L scale project s of protect active Asset Managers from the storm ripping through this industry . From london, im guy johnson, with vonnie quinn in new york. We are counting you down to the european close on bloomberg markets. Vonnie grinding lower, but slowly. We are down zero. 4 on the s p 500 as more and more companies talked about the impact of the coronavirus shortterm and more intermediateterm on their businesses, including the apple, and of course which is what spooked the markets after a possible turnaround day yesterday. Apple said it would tried to china said it would try to shore up its economy. We are also getting some good earnings reports helping shore up some of the market. Gold futures above 1600 an ounce, and that is all just in the last few minutes. It does
Back of that data. Refinery utilization was positive by 1. 4 . The market was looking for that to go into the negative by 0. 5 . Crude Oil Inventories rising by 415,000 barrels only last week. Gasoline inventories was a drawdown of nearly 2 million barrels. Lets check u. S. Markets more broadly. The major indices are really unchanged, but we have a few major movers, including viacom cbs, which disappointed in its First Quarter as a combined company. Investors are really punishing that stock. Guy a bit of breaking news, the unicredit boss looks like he is emerging as a potential hsbc ceo to get the job. Remember, noel quinn currently yethe interim ceo at hsbc, the interim ceo putting out a is involvingk that deep changes in the way hsbc runs its business and potentially a retrenchment back to the middle east and into asia in particular. He thousand jobs potentially going even further down the road. There were Big Questions as to whether or not noel quinn would ultimately be the person t
Halting max production plus, iff is merging with duponts biosciences and nutrition unit it is a deal that will create a new consumer giant valued at more than 45 billion. Iff ceo and duponts executive chairman will be joining us to discuss the deal in just a few minutes. And record rally, the iss p and nasdaq new highs lets start with boeing, moving lower in the premarket, the journal is among those reporting that the company is considering suspending or cutting production of the 737 max. In response to the story, boeing issued a statement to cnbc saying it would continue to assess production decisions based on the timing and conditions of a return to service for the max. And as we know, guys, faa last week through cold water on that return happening before year end. Right i think that this is something that some people say it is a foregone conclusion. And that the reason why you didnt see this before was that the way that accounting works, something i think a great cfo would understan
Only responsible course and accelerate our cooperations. A stark out look from Texas Instruments chips away the tech bill lowers profit for the year blaming the u. S. china trade war. Abb falls higher. The Swiss Industrial Group warns of deeper conditions in u. S. And china. A taste for heineken following a week performance in the americas good morning. Welcome to street signs. Getting an early check about one hour into the trading this morning. No doubt on back of the weakness we are seeing in sterling. A lot of Political Developments well get to not least how the eu will respond and what type of extension well be looking at. Thats squarely the focus in the uk you can imagine on the day when the pound is trading softer. Cac down and italian index down too. In europe, the discussion is not only about brexit but also about the italian budget proposal. Taking you to some individual stories too as we get to the heart of the earnings season starting with chip makers, they are all trading l
Saying the move doesnt mean the u. S. Is backing away from its commitment to finding a political solution to decades of war a negotiated political settlement among afghans is the best path to achieving this outcome. Until there is accomplished we will continue to pursue an aggressive military campaign against the taliban and terrorist groups that continue to conduct violence against the people of afghanistan also in kabul on monday to meet afghan leaders a u. S. Congressional delegation led by House Speaker nancy pelosi reducing the number of foreign troops in afghanistan was the focal point of the recent talks between the u. S. And the taliban but those talks failed after President Trump playing the taliban for a surge in violence. And there has been an increase in attacks in recent months mainly from the town of on and are still linked groups adding more pressure on local Security Forces afghans are also waiting to find out who. One last months general election the results have been