The Investment Committee is ready to go. The Halftime Report starts right now. Welcome. Good to have you with us on this friday our Investment Committee here today joe terranova, john levanthal, josh brown, and marc lasry is here. Lets fwin with the markets. Stocks extending gains, more trade optimism marc, good to see you again. Thanks for being here. Ill turn to you first were looking at the major averages dow is about 70 points from 28,000 what do you make of the markets in the here and now . Are you surprised we are where we are in. Yeah. Im very surprised, actually why so . Well, if you sort of look ate it, gdp growth is slowing down youve got issues sort of everywhere youre turning. And yet the market keeps hitting new highs. I think thats its great if youre an Equity Investor for what we do we need sort of the market and gdp to be around 1 to 2 . I think what we do, its great i think on the equity side, its going to be a tough year for the next year. You do . Why so because of g
Week price premier will lead negotiations for china is telling dignitaries his offer to the u. S. Will not include commitments on reforming chinas industrial policy. These are some of the big demands the Trump Administration has been making in the trade talks. Update now on the crisis in hong kong. The city is struggling to recover after a night of violent clashes. Protesters defied government threats with Wearing Masks and were met with tear gas they were threatened with a year in prison for hiding their faces. Police arrested dozens of protesters and bussed them away under new emergency laws chinas military threatened to arrest protesters who aimed laser lights more protests planned for tonight. Some grocery stores, other businesses have reopened after closing early yesterday. The metro is only partially functioni ining hooch of serious and in the just dont tweet about anything anymore section of our news today, also making news the general manager of the Houston Rockets of the nba h
But the bank is hoping to close the deal by year end. U. S. Sends additional troops to the gulf. Iran threats are absurd. Its not the first time he said something ridiculous and laughable. The United States is our allies. The attack was against the whole world, not just saudi arabia good morning welcome to the program. We are closely watching the survey data this morning pmi after a weak read in on Germany Economy and france the numbers crossing for the eurozone, 50. 4 that is 50. 4 the flash pmi estimate was seen higher around 52, so it is weaker than anticipated but it is holding crucially above that 50 break even level. When it comes to the comparison to august, you can tell how quickly we have unwound to trade around the 50. 4 level today. When it comes to the deep level of pain across the eurozone, the manufacturing flagged up flash estimate at 45. 6 this is weaker than the 47. 2 anticipated. Also down probably 47 that we flashed up in august when it comes to services, and this is
Lower on concerns about the health of the u. S. Economy and a number of new bearish notes from new wall street firms hurts the sentiment further. Lets check in on the biggest losers in the dow, which as morgan just said, is down sharply, near session lows, which were 462 points. Its currently down 410 points, as you can see, pfizer down 4 Goldman Sachs down 2. 7 cat down healthily 2. 56. The 30year just hit a yeartodate low of 2. 117 t the. Joining us for the full hour, victoria fernandez at cross mark global investment. Thanks for joining us. My pleasure when you see yields slip like they have done, like they did last week, does it make you want to press the sell button for broader u. S. Equities . We dont want to sell we have that longer term outlook. We think theres a lot of volatility going on and thats going to continue to play out. We are looking at these treasury buys, not just from Short Coverings but outright buying as well but i think you stay invested at this point there we
Good morning, everyone. Just gone 6 00 a. M. , lots of earnings coming through from the european banks. Let me recap ubs to start with. The key number is Second Quarter net at 1. 4 billion. The estimate was my hundred 57 million. Was 957 million. In terms of the Second Quarter profit pretax is up 3 year on year. Ubs Global Wealth management posting to billion dollars of outflows in the Second Quarter. Global Wealth Management nets new money, but overall the Second Quarter net beating. Sergio ermotti really seeing a revival of the fortunes in the Second Quarter after what he called one of the worst starts to the year in recent history. The bank posting its highest quarterly net profit in almost a decade, seeing a boost to the u. S. Wealth profit. Coming up, we will speak to the ubs Ceo Sergio Ermotti and get all the details. Dont miss that conversation with manus cranny later in the show. If you want to keep uptodate, there is a fantastic tliv blog on the bloomberg. Lets move on to sant