China has started to back off from holding u. S. Treasuries. Lets dive into the action. Lets look at the dow. It breached the 200day moving average. Will p 500 suggesting it go to the 200moving day average. A lot of People Discount the dow. This is a oneyear year chart ahead of the volatility. Thedow has been above 200day moving average, slicing through in december, climbing above it in february. Late may and june the brief exception. Today slightly below. Today, the dow put in a lower a dropich confirms towards last decembers lows. Whether that happens, who knows . If this is a bearish chart the volatility we have seen continues. Thanks. Im watching crude oil come down for a second straight session. The u. S. China trade were threatening demand. Stockpileswing u. S. At a time when we should be seeing stronger demand at the end of the summer driving season. Around 55 a barrel. It is flirting with that average , and sentiment in the market is bearish. Caroline we thank you. More breakin
Alongside tom keene and lisa abramowicz, i am Jonathan Ferro. The s p 500 positive by 0. 22 . Tomorrow morning, retail sales, thursday from walmart. How many times have we done this from august . Talking about china. China the headline once again. Tom it starts and ends in china with a set of news. What is interesting to me is it is not one story. You have to get briefed on this to get up to speed on three, 4, 5 stories. Chinese equities in the tank, iron or somewhat in the tank. A lot of moving parts going on in china and that comes back to jackson hole. Jonathan one chinese developer, Country Garden holdings seeking to extend for the first time ever. Away from that we have a wealth manager missing payments. This is starting to mount in a bigger way. Lisa which begs the question of when this becomes financial contagion in china. Why are we not seeing more trickle out affects . Is that what we are seeing in germany or parts of europe . A lot of u. S. Companies are rationing back expect
Members of the public who wish to provide remote Public Comment on this item should dial star three on the phone or click raise hand in webex. Please note you will have two minutes. Do we have any remote Public Comments for this item . We have one caller. Thank you, um. Color your time begins now. Can you hear me again . We can hear you, mr. Pill pill . Yes. Great david. Fill pelican. So um, thanks for being the code of conduct packed for a second round today. I think the language is good. I had a couple of suggested. Edits on the paragraph on x party communications. Um i think it might read better if it says it shall be the policy of the refuge rate board for members to not communicate blah, blah, blah so that it its not whats against the policy, but says what the policy is, um, second point there, i would consider expanding that ban on communications to not just be with refuse companies but also with city departments that receive funds through the impound account with regard to use o
Around three years in prions only posted losses heres what he had to say about the worse than expected results. This is yes it is the third loss in a row. For however it is also our first pretax profit since twenty fourteen shots a time to stream. Only without the one off it we took as a result of the us tax reform weve now been reporting a net profit of almost one billion euros its interior. Theoretical billion could be headed straight for Company Bosses Bank Accounts and executive bonus hikes all the good work in the midst of scandal fines not to mention all those losses has a financial correspondent daniel cope. Crying. And not going to bring him back in but when hes you know he will most likely have. Many people have been criticizing and. Investment bankers. And bankers who are by the way already making a lot of money up to three hundred thousand euros per year to be even more motivated. Paying those bonuses. You know supposed to be again one the bonus electing more again how the b
All over the world. From my own glory my photo. Will continue. Their experience of freedom. Is like a few minutes. You can visit but you call come back from. Mining yourself or to work you know. Three strikes and youre out not to touch a bank how tricky valuable losses yet germanys largest lender is said should reward an executive or all its executives with even more lavish bonuses the u. S. Tech giants mostly reports jello quarterly figures but americas tax reform spells trouble for alphabet and advertising and still the lead up to super bowl sunday analysts say agencies are toting down the ante trump rhetoric in comparison to last year. Lets do business. Has just enjoyed its third annual loss in a row close to half a billion euros the lender insists its making Good Progress in cutting costs but it will take time to improve profits it wants to streamline operations its business in less profitable countries and install a low cost culture except the top management. Has a p. R. Problem o