The major averages might be down with an 1 of the stocks of down more than 3 . A combination of the earnings and fed. We said yesterday it seems that the stock is ahead of itself. The apple quarter was good but not amazing. Take a look at the fed area the stoxx will only clip. These are the more momentum they reacted to the comments from jay powell to a greater degree than the major averages at the lows down more than 4 . The worst day in more than two toths areas the stocks tend lead. Going back to march of last year before the volatility. The last alltime high prior to this year. The stocks and the s p are highly correlated but the s p went on to make alltime highs at the stock went lower. Due to be something volatility ahead for the s p 500. Resultst to look at the of the mixed messages from jay powell. They initially crept up then went up quite considerably when jay powell talked about how this was a midcycle rate cut. And it came back down when he said that doesnt just mean one. W
Nejra welcome to daybreak europe. It has just gone 6 00 in london. An absolute earnings long on spot. The Second Quarter adjusted operating income comes in at 225 million euros. The estimate was 289 million euros. On the Second Quarter, adjusted operating income, that looks to be a miss. 225 versus the estimate of 289. The secondquarter adjusted operating income there at 305. The estimate at 289. Thats a correction coming through there. That secondquarter adjusted operating income is a beat. The initial number look like a mess. Miss. Secondquarter revenue. 2. 4 5 billion euros. The estimate was 2. 47. A slight miss on the revenue. To their ceo. Dont miss that interview at 7 30 a. M. London time. Deutsche bank, we are getting numbers from that. The big focus for investors is going to be the execution of the turnaround plan. If i could get to the headline numbers right now. Secondquarter trading revenue at 1. 6 9 billion euros. The estimate was 1. 7 9 billion. Givent a huge a prize what
Incredibly tight range for european equities. The pound is down. We are expecting Boris Johnson to become Prime Minister tomorrow. The pound was down a little bit more earlier, bouncing off its earlier lows. We continue to watch the situation in the gulf escalate, and we continue to watch the situation between the u. K. And iran escalate as well. Oil trading higher. Vonnie time for a bloomberg spook now bloomberg scoop now. Carl icahn is ebbing up his Occidental Petroleum in letters to shareholders. Occidental petroleum has just responded. We are joined by our deals reporter scott deveau, who broke the story. Occidental says we dont think we need one. What carlentially icahn is trying to do is get four directors on the board of occidental, and in order to do so he has to go through this very convoluted process. He has to get a record date, and get shareholders to support his move to replace four directors. Occi shares are barely moving. Do they think you will have much success here . S
The report exonerated President Trump and he has said time or Counsel Robert Mueller said no. Things for democrats and republicans to light for a number of reasons, but in terms of moving the needle on impeachment, questionable if the first hearing would do anything to do as much. David we have a second hearing shortly after theyre done with this one. If they are not moving the needle, might this be good news for Speaker Pelosi . She has made no secret of the fact that she would not fight the 2020 election on impeachment. Kevin from her perspective, yes. Respective,akers impeachment would impose a significant political risk. In terms of also the Agenda Setting for the democratic party. From the progressive bases perspective, they feel that this is something it is time to come to fruition. They feel the base once this and they feel their voters and constituents, particularly in altra progressive district, have been calling on this for several years in ultra progressive districts, have b
Predicting, even assuming the u. K. Has a smooth exit from the European Union in october, the in 2019, 1 grow 1 in 2020. The group says there is a one in four chance the economy is already shrinking. India has launched at second Unmanned Mission to the moon, trying to become the first country to land on the south pole. The indian spacecraft is due to reach the moon in 48 days. The lunar rover will operate for at least two weeks on the surface looking for signs of water and helium. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. In new and his 1 00 york, 6 00 in london, 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories we are following. More fighting words for the fed. President trump on the central bank, calling it misguided. Steven oh joins us in a few minutes. Not falling