Delivering food than transporting passengers for the first time ever. Slightlyes are down after hours. I want to bring it abigail doolittle. I want to start with uber, engagement down 44 . That is the measure of how many passengers they are transporting. What they made in food delivery did not make up for what they lost. Abigail it is an interesting quarter because they beat the estimates but revenues fell for the first time ever. As you were just mentioning, their primary business of ridesharing just not really there. I see get all the time in new york, there are much fewer driven cars out there. They demand simply is not there. Who knows, maybe at least here we will see a little bit of a pickup. But its interesting to see that food did better than ridesharing. It shows you that these companies are trying to adapt to the pandemic. Tmobile put up a big quarter. They beat estimates. They added more than one million subscribers. You were mentioning apple. Nasdaq simplyy keeps climbing. U
Bank of america blowing and estimates at least on Investment Banking and underwriting. It is up two point 4 . A little hesitation in the stoxx index. China is threatening to retaliate should congress do something on hong kong as well. Playing into things. The turkish lira is strengthening further, above. 6 versus the u. S. Dollar. Another movement a few moments ago after President Trump talked about watching and negotiating, and trying to calm the situation in turkey. The Vice President and secretary of state traveled to turkey later on today. Guy we will see what that produces. European stocks are down, but the pound remains focused. But, fading its early rally. European stocks are also coming to the neutral mark. The stoxx 600 is only down by. 1 . Turkish stocks are lower. We will be talking turkey a little later in this program. For now, lets focus on brexit. The headlines with sterling over the last few hours, and of the u. K. Assets as well. Running us to figure out what is going
Tenyear, and we are looking at a situation where the euro is going down. Basically, olli rehn has said we are going to get the bazooka out in september. It needs to be impactful. We are going to deliver in september, and when we do deliver, it is probably better we go too far rather than not far enough. That is the effect on the euro. Vonnie in the u. S. , we are seeing the s p 500 trade higher by about 2 10 of 1 . Broadly higher for most of the major indices. The 10 year yield is at 1. 55 , so continuing to decline. The spread is staying positive, marginally. Guy a little bit of breaking news. The Swiss Stock Exchange is said to be considering buying an eu for somerd, looking diversification. Story. Y be yesterdays we will come back to that. Trade concerns causing some fluctuations in the market right now. Treasuries resuming a rally that pushed the 30 year below 2 overnight. Joining us now, patrick spencer, baird vicechairman of equities. What have you made of the last 48 hours . Pat
Capgemini buys Digital Services firm altran in a deal worth 3. 6 billion euros sending shares in both companies higher. And ecb Vice President denies low rates have hurt profitability of the regions banks and says foreign merger activity is indispensable. The iranian president has hit out at the latest round of u. S. Sanctions and says they will fail. He told state television that the measures show washingtons desperation and that tehran is practicing strategic programs. President trump described the u. S. Penalties as proportionate in terms of a response to irans shooting down of an unmanned drone over the strait of hormuz. He urged iran tone gauge in talktal to engage in talks. My only message is he has the potential to have a great country very quickly he should do that rather than going along this destructive path destructive for everybody. We cant let him have a Nuclear Weapon he says he doesnt want Nuclear Weapons. A great thing to say a lot of things have been said over the year
Have a look at where european equities are trading right now. Gm go is your function. Oil and gas the bestperforming district groups. The best threeday rise for the industry since november 1. Gas, natural gas here in the u k dropping the 23 , highest09, level since 2013, and an explosion at one of europes biggest supply hubs. The market was already struggling to absorb the impact of a crack that shut down a north sea Pipeline Network when an explosion at the baumgarten hub in austria killed at least one person. Silver and platinum on track for annual declines after trading higher for most of 2017. Gold advances shrunk to less than 10 versus 18 in september. A strengthening global economy, the outlook for higher bargaining costs are hurting you look of precious metals. The standout winner the white. Ine is palladium rising consumption of these devices in gasoline cars helping to lift prices directly 50 . Glencore had its investor day today, the powerful trading business will be a star p