Expectations, both stocks falling. We mentioned somebody was listening in on the Conference Call and it caused that trader to hit the sell button we wont tell you which trader it was just yet. Tim, it wasnt you what did you make of the Conference Call . I think you have a case here where clearly the numbers on the headline looked fantastic. But what was really causing that, that was about provisions, that was about credit quality. Which, its strange because we were complaining that we were fearful that the banks had bigger credit issues that were being possibly seen on the headline and therefore they were putting aside the major reserves what jp morgan look, that beat was a combination of some very strong Investment Banking and fic business but alsos the provisions that came down. Thats something we should everyall be encouraged about with banks bus i think there is more where that came from. But there was some sense this was the only reason. Net margins fell 14 basis points i think ba
Of migrants crossing the English Channel from fronts pretty sidetracks of nonsense of the promises by my body to government to take back control of its borders after a break. In the world of fashion loses one of its most famous designers japans consented to cutting ties cut the content well talk to a reporter about his legacy. Im at the how to book him u. S. President donald trump has returned to hospital after briefly leaving in his motorcade to wife to supporters gathered outside a surprising news suggested that his health was improving after he was Hospital Hospital last fall covered my take on friday. Elvia trump posted a video from his hospital room saying he now had a better understanding of the fires. So its been a very interesting journey i learned a lot about coven i learned by really going to school this is the real school this is in the lets read the book school and i get it and i understand it and its a very interesting thing going to be letting you know about it all trumps
Last night leasing a 2. 2 trillion dollar relief proposal last night. Joining us is emily wilkins, bloomberg congressional reporter. This mean something can get done, or something wont get done because it further polarizes any talks between pelosi and mnuchin . Emily i think we should look at this is a little bit of a lastditch effort on the part of the house. They have come down from 3. 4 trillion down to 2. 2 trillion. Theyve made it very clear they are serious about this. They have some Democrat Members in these very difficult races, having to go home and face constituents who are really hurting right now, so they are pushing for something to get done. Pelosi has said that the republicans need to come up on their offer. They have been this way for several months, so it is kind of now or never, but things dont ticket levy optimistic at this point. Guy do you think there is any chance that the president pulls a rabbit out of a hat tonight if he starts talking about what is happening w
Table . Speaker pelosi says theres a chance she and the treasury secretary can still reach a deal later, pause for tiktok why a judge sided with bytedance and blocked the Trump Administration ban. Futures do imply a big open to start this monday morning of course, coming off the first fourweek decline of the year. Mike, you did some writing over the weekend. Largely about the degree to which september is doing the job its supposed to do. That being the sort of pause that refreshes the argument here is that if we came into september with the markets at record highs and everything looking very stretched to the upside and sentiment and the technical position of stocks and maybe even hopes for an immediate stimulus and this fourweek decline has largely reset a lot of those factors right. You have sentiment very muchal coo acooled off and huge short position develop in nasdaq futures and pretty much 180 degrees on that front. I would say back in the neutral zone, not necessarily super beari
We start off with a major reversal on wall street. S p 500 gave up gains around 2 00 p. M. To finish close to session lows same for tech stocks you saw the same thing play out in facebook and netflix, both stocks starting strong, finishing around session lows. You can extend this to regional banks, health care, energy, small caps what does the action today tell you, guy adami its not encouraging. Im not going to make a deal out of today yesterday we had the show of hands. I dont think any of us were convinced by the rally ill continue to say a 30 vix suggests were going to see days of 1. 52 moves. I happen to think on aggregate its going to be lower im not trying to be all good morning and gloom, but the environment we find ourselves in in terms of a lot of Different Things as we head into the fall, on top of which an election is probably a coin flip, i dont think its particularly bullish for the Broader Market and especially on the back of a rally thats been historic karen i did raise