Italys Prime Minister said it would derive from properties on h derived from higher Interest Rates. The net income exsceeding the growth for 2022 and 2023 citi estimated that would be equal to 19 of bank net profits for the year the tax would only apply to domestic Net Interest Income if this were to happen in the United States it is not happening i know. I dont know what would happen to the world. It is like when hell freezes over scenario. 40 windfall profit tax on banks. Do you think this is such a game changer that you would ever be in business in italy ever again . I think they view banks as utilities in italy i think investors will think about Certain Industries now at the beck on call of the government it can be wiped out just like that it changes your money. Chinese communist out of nowhere with the Tech Companies in china the trading Certain Industries. In other bank news, moodys cutting ratings with several banks and downgrading the biggest lenders. The credit strengths will
Us a bit of support. A little bit of strength on the yen. The bank of japans yield curve control may not impact the markets which some are expecting, so do not expect any great strength. Crude oil, and opec meeting coming up. Yvonne you have the dollar sinking the most in two months so there was this fed commentary about how it looks like what the fund is leaning towards is a positive or a skip in june. That is helping lift overall the risk move. Even china, you take a look at the rally we are seeing in the hang seng. The extreme bearishness is coming off a little bit now. Rishaad yesterday if we wanted to go to the advice of the hang seng in 2018, you would need to have an 18 improvement. But ecb inflation. Christine lagarde has a bit more wiggle room, came in at 6. 1 inflation. Compared with pakistan yesterday, 37. 97 . Yvonne yikes. But the euro story will be interesting. If they are also close to a positive we heard from some of the ecb officials that may be the next few hikes are
And, you know, the students, well see whether they get jobs if they want them on wall street anymore. Shar charles or in law firms, yeah. Liz cant support a terror the u. S. Group. Bad indication there. All right, as we kick off the final hour of trade for the week, extreme urn certainty in the middle east and confusion in congress here at home have investors disinclined to head into the weekend long. Weve got the dow heading back town to session lows, lower by about 191 points. The s p down 37. The nasdaq falling 151 points. This even as a fox news confirms some good news, two american hostages a mother and a daughter taken by Hamas Terrorists two weeks ago not only have been released, but this is just hitting the wires. They have been received at the gazard border and are in safe and secure hands of the israelis and enroute to a military base in israel. Look at crude oil. If you really want to see where the reaction was, it was trading at nearly 90 a barrel. But then you see it slide
This week alone up 33 basis points. Tom this week alone, history made. I think you will see over the weekend, how do we go back. Maybe we go back to 1870. The summation of four weeks of moving his history making. Jonathan need to look at the curve as well how things involved evolved. Lisa that to me is what i looked at, the fact that it moved to the opposite direction of what people thought. The long and would move down to the front and the front and would move down to the long end and you would get a flat or lower curve. Yesterday fed jay powell said it does not seem to be inflation, it is something else. It doesnt seem like we are overly restrictive. There seems to be a fear in his not only in their control. That is sort of a people are pricing into the market but still theres a chance of another rate hike. I do not know whether that matters. You saw the yields go higher after that speech. Jonathan policy is not too tight. Tom yeah, it is getting restrictive. We look at the numbers 2
Maria good wednesday morning. Thank you for joining us this morning. I am Maria Bartiromo wednesday october 18. We are breaking news 6 00 a. M. On the east coast. President biden in israel for wartime visit. Though the arab leaders he was planning to be canceled or some and jordan now refusing to meet with the United States. The world remains on the brink, hundreds were feared dead after a bomb ripped through a gaza hospital while the u. S. Embassy in lebanon is overwhelmed by protesters. Now as washington considers a foreign aid package worth 100 billion to israel is revealed more than a billion dollars of taxpayer money may have gone thomas on joe bidens watch. Work covering all of these unprecedented times all morning long. Take a look at futures indicated to the client more earnings this morning, Morgan Stanley coming out before the bell, netflix and tesla after the close tonight the dow industrial down 72, nasdaq 1071. The bond market 21 Federal Reserve are speaking this week, the