Good wednesday morning im Caro Quintanilla with jon fortt and Julia Boorstin with us dow down 800, worst drop since about june 11th, on covid worries in the europe and United States, lockdown worries in france and germany oil is down about 6 vix getting closer to 40 were monitoring the ceos of twitter, facebook as they testify on section 230 well begin with dominic chu on more on what is driving the downswing. A lot of narrative around the rising covid cases, not just in the United States but europe as well markets may be taking their cues from whats happening in europe. Theyre talking about wider spread lockdowns in germany and france and whats if it happens here in the United States. Thats playing out in the markets right now. For the s p 500 specifically, below the 3300 mark, that is below both the 50day average price and the 100day average price for those indices, so many traders looking for technical or chart pattern levels as they look at trades today the s p 500, this little rol
Unit in a sweeping overhaul. Its a big day for Bank Earnings. We speak to talk executives. Welcome to daybreak europe. Lets get to Bank Earnings. Deutsche banks red headline. Saying they are on track to meet all targets. Lets get to the numbers coming through. The Second Quarter fic trading revenue comes in at 2. 0 5 billion euros. The estimate was 1. 81 billion euros. Upbeat on the Second Quarter f site a beat on the Second Quarter fic. In terms of pretax profit for the Second Quarter, that comes in at 158 Million Euros. Thats a surprise pretax profit for the Second Quarter. The estimate was for a loss of 133 Million Euros. Thats what we are looking at in terms of secondquarter net revenue. That comes in better than expected. The estimate was 5. 94 billion euros. A lot of lines coming through here. 2020 revenue essentially flat. Cet1 reaffirming its 2022 leverage ratio and return on tangible targets. In terms of Second Quarter Net Interest Income, that comes at 3. 0 9 billion euros. E
As germanys spy chief says huawei cannot be fully trusted, we speak to the companys officer to the u. S. In this hour. It is 9 00 a. M. Across the emirates, 1 p. M. In hong kong. Im tracy alloway. This is bloomberg daybreak middle east. Manus im manus cranny in riyaad. There is a new globally important date. December 11, their remco ipl will start to trade. The valuation anywhere between 1. 5 to 1. 7, depending on which analyst or moneyman or woman you speak to. 40 from the u. S. The negative Interest Rates. Billion, buthe 15 only one question that matters in riyadh. What is the valuation and who is going to buy their remco ipo . We have a guest later on. Michael thompson in terms of flow of money. Joins me after 30 minutes. We will get his brexit take, the flow of money and how important the region is. Good morning. Tracy lots of interesting conversation coming up in just a few minutes. Before that, lets check in on the markets this morning. The benchmark 10 year yield on china Govern
Not only suggesting another election date. The stoxx 600 down just over. 10 lets dive into some of these sectors as it plays out on the boards technology right at the bottom apple comes out today. We saw some caution on wall street and the sector. Some of those big supplier stocks caution on trade investors are waiting on details. Industrials towards the bottom of the boards. The light ups of some of those big names. Retail stocks trade lower. Household goods, media and Construction Chemicals are in the mix too banks, very important basket today. Going through the numbers of that Deutsche Bank at the bottom. Mixed reaction to those numbers. Utilities. Telco trading higher auto is significant basket today too with the likes of volkswagen that stock surging 7 lets go to the volkswagen news. It has cut its numbers despite reporting 11. 2 rise thanks to Strong Demand for porsche. Adding to gains. 6 higher for stock now. The group needed to be efficient amid weaker global auto demand you ne
You have a big loss at Deutsche Bank. Take a look at this, the first down week to have year. Dow futures falling 227 points. Volatility reintroduced to our markets and we see in the bond Market Investors keeping close eye as we have been on Interest Rates, there we are, above 2. 8. Upset that it quickly went away from us. Lauren we were just talking tag about Deutsche Bank, if you look at dax falling 1. 3 as a result. We do have good news out of Tech Companies, that could be bad news for rivals in asia, samsung, down about 1 . Lauren ugly day for investors and ahead of the super bowl, the preawkward moment talking about his son. You would support if he wanted to run rounds in the nfl. He would never play football. Not going to let him. To minneapolis for super bowl. Fbn am starts right now. Lauren friday second of february, im lauren simonetti. Im Connell Mcshane. Cheryl casone in super bowl. Lauren absolutely, volatility is being reintroduce intoed the market. A couple of interesting