We will take you to the frankfurt auto show. And anticipating apple. The worlds most valuable company is set to unveil look at be his most important Product Launch in years, the iphone x. But will the price point be too high . We will discuss it. Lets take you first of all to the frankfurt motor show. Matt miller, what are we going to be taking away . What will be the big theme . Does it involve batteries . Matt i think for the first time in years, we are seeing a major change, a major, multibilliondollar change from all the automakers globally. Volkswagen is talking about losing capex to create more electric cars, putting out orders for 50 billion worth of gear. We are hearing about cost cuts at mercedes that are going to be about 5 billion. Huge shift as this industry moves from diesel powertrains to electric powertrains, and that is all we are hearing from almost everyone we speak to. I have already spoken to a number of ceos, we will hear later from the ceo is lamborghini a bit of
Good morning, im Francine Lacqua in london. It is a very packed show in terms of data flow, this is what i am looking at. Lets put everything into context with Asset Classes. Overall we are seeing quite a lot of equities higher after we saw the s p 500 rise to a record, treasuries tumbling after we had less damage than originally feared from Hurricane Irma which supports a case for gradually improving economy. This is a picture for the stoxx of thatthe back hurricane we are also looking at crude oil and this is one to look at, europound and pounddollar. Heres sebastian salek. Sebastian the Un Security Council has approved a new sanctions aimed at punishing north korea. The u. S. Dropped key demands to win support from russia and. Hina wil it seeks to give countries the freeze to freeze cargo ships who dont agree to inspection. Today we are intending to take the future of the north Korean Nuclear program out of the hands of its outlaw regime. We are done trying to prod the regime to do
Check out what is happening to european london european stocks. Stocks arising for the second day for the biggest weekly increase in two months it sterling low against the dollar down by. 2 . June 24 last year, biggest weeks biggest weekly gain last year. Sterling rallying 3 against the dollar as the boe turns hawkish. Up fiveyear yield is basis points, higher since august 22 after rising 15 basis points last week. You know the fmos fomc meets this week. Dropped theounts most since january after a. Ecord expansion lets get the bloomberg first word news. Sebastian a peaceful resolution with north korea but Rex Tillerson has warned his two parents use military force if necessary. Those comments came as trump prepares to ask allies to confront the regimes threat. In a tweet, trump mocked kim jong un as a rocket man. Marias wins have picked up eight to five miles per hour. Warnings are being issued to several islands. The u. S. Is bring for rain, and beach erosion. The day has lowered its
Are investors finally buying what Governor Carney is selling . And bracing for the fed. The dollar rally fades in the path of the likely qe unwind. The fomc meeting kicks off today. Matt take a look at how markets are prepping. We are half an hour away from the start of cash trading. Futures are down across the board. It should be said that u. S. Equity indices hit new records, just barely, yesterday, and we saw the asian gains as guy pointed out. They will be interesting to see how the trade goes. Take a look at the bund trade. It is more interesting to look at a slightly longerterm shot. This is the yield over the last three trading sessions. You can see we have steadily climbed our way up from a three handle to four and a half. Bund yields, although right now not moving much, are over the last three days climbing about half a basis point. An interesting look there. Guy another record for the s p, another record for the dow. But the real story inequities is whats happening in the nik
They have not opted for more radical wake up plan. And mexico cities earthquake leaves over 200 people dead. What impact will it have on supply chains in the United States . Matt we are less than half an hour away from the european open. Lets take a look at equity index futures. Very Little Movement as investors await the fed announcement. You can see the euro stocks futures are down at one of 1 and ftse futures are up by of 1 . We do not see any moves better than that. Take a look at the bunds and my here. Al and i have up speaking of minimal movement, we see almost nothing today. I will zoom out what we so far a move of not even close to one basis point. Been for thee have last couple of days on the german bund yield. Guy it is a focus on what is happening in washington might is all about the fed. Not about the Balance Sheet rolloff. The market seems very calm about that. It is all about the dots and what those dots will signal about the 5050 coin toss whether or not we get a decembe