Unemployment rate when we get the numbers on may 8. That compares to the high in the pointdepression, 1933, 24 9 . We could easily be above that. This week was the week that is the reference for the jobs report. It may not be worse than that, but when you are grasping at straws for good news, global pmi , the United States comes in better in europe with numbers that wouldve been a stabbing to anybody a month ago. Anybody. Ding to 36 for manufacturing, 27 for services. Those are so much higher than in europe. In france, the composite 11. 2, the euro zone, 13. 5. You cannot model the destruction of the economy with numbers that low because it has never been done before. We have never seen numbers that low. Christine lagarde suggested we could see 15 collapse in the european economy for the quarter. The numbers we are talking about just absolutely astounding at this point. Those numbers you are seeing our quarterly numbers, they are not at an annualized basis as we do in the United States
Looking for continued strength. City did guide up to the higher end of the range for its credit card charge off portfolio. We are coming off extremely low levels that were unsustainable. Wells fargo is down in trading. Is that just because of the legal charges . Allison legal charges is part of it, also no visibility on operating charges. It is not surprising they are not giving any commitments at this stage. It is also not surprising that you would see a lot of charges as a new ceo comes in and tries to put the past behind them. I think the size of the legal charge was surprising to some. The question is is this it . Is there more to come . I was on and off the call so im not sure we have got a number for the losses beyond reserve or any indication on that front. The question is already getting the worst behind us. David often it comes to a reset with the new ceo. Thanks very much. Now we go to Brooke Sutherland on the boeing story. You have a great piece on the new ceo, calhoun. Broo
Lisa abramowicz and Annmarie Hordern i am Jonathan Ferro. Your equity market positive. 4 . We will proceed carefully just like this Federal Reserve ahead of cpi. Lisa proceed carefully although i do dont know i do not know where the bias is in markets. Yesterday everybody seemed to disregard ppi and we got a rally in bonds regardless. How is this leveraged because people want to have a bond rally . Jonathan what a turnaround over the last two sessions. We have dropped back in two sessions. To see the 10 year lisa kathy jones put it well. There is something technical going on. I keep going back to what it means for broader markets and an understanding of what this market is. It is the deepest most liquid market in the world and it is whip sawing around by 20 basis points, 30 basis points more in a couple trading sessions. Jonathan we are fortunate to have Annmarie Hordern with us to work on the latest on israel. Antony blinken landing in tel aviv today and the Israeli Defense minister w
Good morning a very warm welcome to Worldwide Exchange on cnbc im wilfred frost. Lets check in on the Global Market picture and futures this morning are looking at a positive open. We are higher in the premarket coming off a day where we did see gains for the dow and the s p. But we closed well off the days highs, both indices coming into today down about 1 week to date yesterday the nasdaq was lower fourth negative session in a row. But only slightly lower. Such that week to date its down just 0. 4 . Today, as you can see, up significantly. The dow is up 187 points s p up 16. Nasdaq up 45 points. Coming into today all 11 sectors of the s p are Lower Consumer staple is the worst performer, down 3 we saw yields rise at the start of the week and pull back, but today tenyear above 2. 9 . We spiked at the start of the week and just have come back a bit. Asian equities, its been a negative week overall, just seeing a bounce today. Up about half a percent or so for shanghai but hong kong and
Won, i want the gold i watched a couple hours of it unbelievable, right . Im still trying to understand you try to get it in the center thing or not you want to new york the other guy out. Whats the hammer if you have the hammer. I dont know the terminology come on i know we won by knocking them out those guys are intense. This guy has been there for several olympics when the guys get what is he called . Who does the pushing . Yeah. They score. Hes like 9 or something. When the guy on the other side is holding the brush i think theyre getting rid of the friction in between to make sure it goes the right direction. I know, but the guy at the other end, he is not moving, theyre aiming it . Theres a lot more skill involved than we have given them credit for yeah. And what if theyre running down and a foot hits is that a technical they have to be careful it is slippery theres a deal breaking not a curling deal. General mills buying blue buffalo for 8 billion in cash or 40 a share. Blue buf