Crude getting wrapped into all of this. We get inventories coming out at 11 00, all of that wrapping into the story that maybe we arent that good at dealing with the virus again, despite what happened in the spring, and how that narrative will feed into your equity and asset allocation. The other story we are following his Morgan Stanley, the last major big bank to report earnings. Really wrapping out a winning week for wall street trading desks. The highlight was fic revenue rising 30 . That helped drive revenue above estimates. Also, equity underwriting fees came in double more than year before. Very solid. Now the question is, can it continue, particularly when it comes to the visibility of the election . Joining us now on Bloomberg Television and radio is jonathan pruzan, Morgan Stanley cfo, as well as sonali basak, bloomberg wall street correspondent. It is good to have you. Killer numbers, particularly when it comes to fic. What visibility do we have now for the Fourth Quarter .
Alix bunge crushed it. Carlisle group was kind of interesting. A lot of shareholders have been pushing for it. David they are making it much more transparent, where everyone else seems to be going the other way. Including ing they are getting included in a lot of indices because of it. Alix it is still going to be a soggy day headed into the fed meeting. S p futures up by four, eurodollar flat. The outlook not good, but the currency market not really moving on that. Crude up 7 10 of 1 . That is a geopolitical risk story. It is going to be basically put the pause button on until 2 00 p. M. Unless you are trading individual stocks. David thats right. Kawa andined by luke vince cignarella. The fomc will announce what they decide to do. It feels like Everybody Knows whats going to happen, one cut of 25 basis points. The question is what comes next. Vincent everyone thinks they know what happens. This is the fastest few minutes in five in finance. At the question is is beginning of quantita
High for more on what powell said and what we learned from todays fed minutes, senior economics report Steve Liesman is here. In the house. Onset in the house how am i supposed to cover the Federal Reserve when you put up a graphic like powellpalo oo, za what is wrong with that it captures the sentiment celebrate good times i was doing that. If you goad them in the control room, they will take the bait every time yes. So i think it was powellpalooza is not a bad way to characterize it it had every opportunity to push back on the market being darn sure there was a rate cut. Instead of pushing them back he said, come on, we are going more in terms of i dont mean more in terms of more rate cuts, but you can be more sure he emphasized the negatives and down played the positives. What i thought was interest ingalls ing is that the markets threw into doubt the 50 basis cut later this month once we got the job reports, but powell said to have a hot jobs market we need heat he said tothe marke
This comes across the political spectrum including the economic surprise advisor to President Trump. Global news, 24 hours a day, powered by more than 2600 journalists and analysts in over 120 countries. I am mark crumpton, this is bloomberg. Life from bloomberg world headquarters. Im julie. Stocks are lower for a second session in a row. The question is, what did you miss . President trump said the u. S. Dollars getting too strong and he will not label china as a currency manipulator. Everything is reacting. He also made comments about janet yellen. President trump meets with secretary general of nato and we will take the News Conference live from the white house. Says summer could bring turbulence and with it, disappointment. Andman behind guggenheim the portfolio is coming up shortly. At where the major averages stand as we head toward the close. Taylor riggs is standing by. We have seen a small recovery after them up russian meeting and we are lower. The as a be 500 is there the se
But were holding down the fort. Japans nikkei reopening after yesterdays Public Holiday and it plunged. 4. 8 . It closed at its lowest level since october 2014. The index is down in seven of the last eight sessions. That is coming as the yen has been rising against the dollar and it comes after yesterdays big selloff in the u. S. This years lowses have erased nearly 1. 8 trillion in value for investors just on that index. The s p is down 10. 5 since the first trading day of 2016. But u. S. Equity futures are rebounding this morning. Part of that is because of firmer oil market. Take a look at what crude is doing. It is bouncing back today following Late Afternoon comments by an opec Energy Minister from the United Arab Emirates that sparked hopes of a coordinated production cut. And though weve heard this story before and havent gotten anything out of it, the markets are interpreting that as a positive. Wti he crude currently up nearly 4 . 27. 21. Brent is sitting above 31 a barrel, up