Anna good morning from london. Manus cranny is in dubai. These are todays top stories. It is a mixed monday for Global Equities as coronavirus cases and u. S. China tensions threaten risk appetite. Mike pompeo suggests action to protect National Security will not stop at tictoc. Shares did as earnings missed the mark. The group says it will accelerate cost cuts. More to come from our exclusive interview. We will hear from sociogeneral after a surprise sociale generale after a surprise loss. Task force head says the pandemic is in a new phase. It has just gone 6 00 a. M. In london. It is 9 00 a. M. In dubai. Normally it is yusuf and i this time. They were very clear, the single worst economy is the u. K. It is one of the weakest economies globally. They have taken a hit. They gave us a global perspective, a wide range of losses. There has been a big shift in the global economy, but it is not going to be enough to steady the ship. The next three to six months will be critically important
Fueled a huge rally in financials much earlier, but sectors been underperforming since being in office. Do you doubt the banks Going Forward . Its been a rough week for oil prices, and goldman cults the outlook for crude. Where do go from here and which names you buy and sell in the energy space. Closing Bell Exchange on a tuesday, shall we . Joining us here to kick it off, greg from hightower, managing director there, keith from post nine, and Rick Santelli at the cme for us as well. I want to start with choppy action in the markets today after significant close to the s p 500. Is it are we just digesting that move . Well, we are digesting that move, and, frankly, i dont see anything thats a real catalyst to break the market out to the upside or really bring it down in any kind of correction mode at this point in time where what weve been seeing the last several sessions is the market flat lined, moved sideways, and the russell has been between 137080 since february, since the middle
Had a slight beat on revenue. But they did better on earnings per share, 1. 24 as opposed to 1. 19. Thats the first of several to come. Now we want to go to our morning brief. Were going to continue with retail sales reports, as we have macys out at about 8 00 this morning eastern time. 30 minutes later, its weekly initial jobless claims in the United States, plus Producer Prices coming up for the last month. And at 10 00, as alix mentioned, bill dudley holds an economic briefing on Regional Wage inequality. Finally at 1 00 this afternoon, the u. S. Treasury is going to auction 15 billion of 30year bonds. Throughout the day, people on both sides of the pacific are following developments in the potential conflict between the United States and north korea. To take us through the perspective from asia, were joined from hong kong by our chief asia economics correspondent. Give us a sense of how it looks over there. What are the possible effects that people are expecting of a possible confl
The 14 ton bell in the tower of the houses of Parliament Must stop ringing to ensure the safety of workers. Minutes. Himes every 15 it has wrung out largely uninterrupted for 157 years. News 24 hours a day powered by more than 2700 and. Nalyst in over 120 countries im mark crumpton, this is bloomberg. Live from bloomberg headquarters in new york, im julie hyman. Scarlet im scarlet fu. Joe im joe weisenthal. Any minutes from close of trading in the u. S. Julie shrugging off last weeks volatility. Joe the question is, whatd you miss . China hits a bit of a speed bump. Plus, Business Executives from tim cook to others react to the violence in charlottesville, virginia. Thisatest from the fallout weekend. Investors position themselves for the unthinkable. A default by the u. S. Government. President trumps unpredictability has the market preparing in case there is a debt limit impasse. Julie whatd you miss . President trump signed an executive memorandum that authorizes u. S. Trade represe
So u no, i get that most of this is overseas, but Credit Suisse is down 45 , and bank of america 20 , and Deutsche Bank as well down. And yes, we saw jamie dimon with his bottom, and we call it the unbelievable buy. And we had greater p for mans, and people were anticipating because of the job owning we would see the rate hikes coming along and then you see the steepening, well, obviously, it looks like june is off of the table, and because of that, the last couple of days since janet spoke, you could watch the financials and see how they react. And doc, no relief in sight today, because the fed is not giving any help to the financials. The wrap on the large banks that make up the index is simple. These are companies that should pay bigger dividends and you should expect less from in terms of the growth, and really no reason to own them unless you think that there is an imminent rate higher not just once, but a cycle, and nothing is tellinging you that is the case right now. That is wh