Global growth softening, and specifically having caution because of trade concerns. We will talk with the ceo of dow in this halfhour, Jim Fitterling. Alix also looking at other names like 3m, surprisingly reaffirmed its growth organic sales. , sor names coming in weaker when you have Companies Like 3m , that is positive. Boeing is extending cuts, help withthem to their pricing power. Terrible news for airliners, and then all of a sudden better. David exactly. In the meantime, we have an announcement out of the turkish central bank. Mr. Erdogan has his way. They are going to cut the one 19. 75 , downe to from 24 . The turkish lira is coming down on the news, a little under 0. 5 now. Alix that is a 425 basis point cut. The market was expecting 250. This is definitely more aggressive on that side. David the got the message. Alix we are just about an hour away from Mario Draghis press conference. Eurodollar goes nowhere. Crude up by 1 . Basically, wait for the next hour. [laughter] david
Rishaad just looking at what is going on, you would think asian equities would be expensive relative to the u. S. They beat the s p 500. I want to bring up this chart. If anything, pricetobook ratio, and forward asiatoearnings spreads, stocks looking more attractive compared to u. S. Counterparts. Those spreads have widened to four. Nus there we have it. The rally could have legs. Fascinating its not just a more by you, but getting cheaper. Have not seen the political dysfunction in Washington Play out when it comes to the markets , and some jitters in the asian session. The last time we had a the lastt shutdown, three times, the s p 500 gained. Three, so wen day not just asian equities, but in the u. S. As well. Decisionsnk dominating the agenda, as well as u. S. Gdp. Sophie kamaruddin joining us now. Jitters. E do have asian stocks kicking off the session subdued. Japanese stocks are slipping as the boj policy decision is due tuesday. Lets check the open. We do have the taiex gaining
The dollar, and President Trump. The ecb. Lisa the ecb is facing an economy that is recovering and not just recovering, but is definitely gaining steam in the eurozone. The question is, will they announced some kind of ending of their Bond Purchase Program and will they try to talk down that euro . The euro has been strengthening against the dollar. David it is not just the economy gathering steam, it is the euro. Lisa the fear is that it will eat into the corporate profits. David it also suppressed inflation that mario draghi said he wanted so badly. Steve mnuchin says he has been perfectly consistent, there is no problem with the u. S. Dollar even though it has taken a hit. You can see what the dollar has been doing over the last few days, not good. Lisa and took a leg lower after Steven Mnuchin broke ranks with previous treasury secretaries who always commented about not wanting a weakened dollar. He broke with that protocol and saying it would be positive for the dollar to weaken f
Other numbers, assets 116 billion, down 22 . The Company Stays on track to reach its financial targets for the year. Continue to look through here, fixed income markets revenue, a number that has been weak in many of the banks, 3. 06 billion, roughly in line with what analyst anticipated. The company said its Net Interest Margin came in above estimates 2. 95 , the estimate for 2. 88 for a big group like citigroup. Interest margin will be an important part of the overall numbers. That is what we have so far as we look at these numbers. One other number the equity markets trading revenue, which was expected to be in the area of strength for citigroup looks to be the low estimates, 653 million, the estimate was 739 million, that number, expected to offset some of the declines in fixed income trading, perhaps it would do that as we look through these numbers. Eric julie hyman with headlines on citigroup. Good morning. We have seen everybody but Morgan Stanley, which reports on monday. Gett
Impacted by the hurricane as you have pipelines and refineries out of work. Its great to get a read on the state of their business right now. In particular we will be speaking to the ceo of show near , the only company that can export liquefied natural gas in the country and it is down on the u. S. Gulf coast. Is it operational . Is the buildout having any issues . What does it say for the future if you are so concentrated on the gulf coast . Look forward to that. Since you are over there, i have the privilege of welcoming lisa abramowicz. See hers so great to so excited in her element. Its a lot going on right now, we are looking forward to hearing what she comes up with. Right now lets get you up to speed about what we are looking at the head of the open of u. S. Markets. S p futures are up just the touch, the dax up more. The u. S. 10 year yield is down, which is interesting, because , butave risk on in stocks risk off, yields down, price up and the euro continuing its trend of stre