We are trying to process these numbers as they come out. It looks like a good story. Allison the first thing we look at is in line with some of these estimates weve gathered. The interest margin is something im looking at. The yield curve is something that everyone has been watching over the past quarter. Pastgan has said in the its more important to them. It down. Merica had it were people paying attention to this . It doesnt like the interest margin is coming in low. David it looks a fair making more loans and making it up on volume. Allison it has to do with the expectations. When you look at the data, it is slowing. It looks like they are talking about 8 loan growth for the year. I think we will hear more about what they see in terms of demand. One of the things jamie dimon has been vocal about his tax reform and how that can help his corporation. Charles, your initial thoughts . Think there is 400 million in reserve recovery. That is . 12 per share. Say 1. 69. I would like to see
Brexit could make it worse. Good morning. This is bloomberg surveillance and im Francine Lacqua in london. Lets get to your markets. European stocks are down a little bit, dragged down by basic resources. They seem to be cooling off after recent gains, but the single currency is edging higher. Oil is significant because opec and nonopec producers are meeting in abu dhabi, talking about compliance cuts. Government bonds are bixed with the dollar. Meanwhile come over in south africa we need to look at rand. There is a secret ballot vote on jacob zuma, the president. I think we have the results of that voting at 1 00 p. M. U. K. Time. Reporter chinas trade surplus widened for a fifth month in july. It keeps the spotlight on a trade gap President Trump aims to narrow. Japan has recorded a 36th consecutive surplus, beating economist estimates. That was supported by returns on overseas investments and a trade balance the return to positive territory. North korea condemned the latest round of
John ford has the morning off. We start with this big story about big business and the white house. Two of the president s Advisory Councils disbanding after multiple ceos dropping out citing the president s response to the violence in charlottesville. Among the ceos speaking out, jamie dimon, jeffrey immelt, mary barra, etna ceo mark bertoli bertolini. I think well talk to bob crandall in just a moment, guys, but were all trying to process the dramatic decision, how it went down, a lot of good cnbc reporting on that and what the significance of this move is going to be. In practice and also symbolically in the statement that it sends to the president and the white house. We clearly havent seen anything extend into the administration and markets are down half a percent or so but over the course of the last week as a whole, were up about three quarters of 1 for u. S. Indices. Reuters now has the headline quoting a white house official that gary cohn intends to remain in his position as
Asia. A brandnew trading year gets underway in hong kong and china in just under 30 minutes. Singapore and taiwan just starting theirs. For a look at what its going on, here is david. David the regional benchmark is flat. If you take japan out of the equation, of course. A positive start to 2017. That being said, australia is at the highest level so far this year. Tos goes all the way back june of 2015. That market momentum seems to be filtering through into 2017. We are not looking at any sort of volume there. At this time of the trading day. 2031 is the level for the south korean benchmark. Japan is closed, but futures ares ill trading. Still trading. Singapore 120 points to the upside here,. 9 . As soon as japan is open, we will be getting a decent bench for that market as well. Three markets opening today, malaysia, taiwan, singapore. Somen have a look at how of these benchmarks are trading early on. The tie index had a very good 2016. A lot of that comes down to the apple effect,
Bloomberg casa julie hyman is with us. Julie pullback has continued and accelerated in todays session as investors are looking for more details on fiscal policy prescriptions that werent really given at that press conference. We still he is not in office yet. We will at some point presumably get more details. I wanted to look at the scorecard of where the three major averages stand since the u. S. Election. About a 5 gain for the three major averages. If you take a look at the bloomberg ive made a chart of the three majors going back to november. The dow has been in the lead consistently ever since the election. Whats interesting is the nasdaq was lagging throughout the month of december and as we got into the new year it played catchup and overtook the s p 500 in terms of its return as the nasdaq has been setting new records. He yesterday it was the three major averages to close at a record but its a different story today as we see tech stocks pullback including Companies Like apple a