Day. Pete, i come to you. Jpmorgan the quarter was good Loan Loss Provisions were surprisingly good. The commentary today is a surprising show of coronavirus resilience thats what i just read. Why is the stock down . You know, initially it had a nice pop to the up side, scott i think people step back and say the financials, we need to hear a lot more about what theyre going to be able to do at some point in time thats outside of the trading spot because thats another area the Loan Loss Provisions, you just brought that up but how about the trading numbers . The trading numbers are outrageous for them and for citi that is an area we expected to be strong. It was Even Stronger than expected but theres more to the bank than that. I think thats what were going to be struggling with for a while with these financials. And when you look across just about every name, scott, other than Something Like a black rock, asset manager. When you look at the banks and the financial world there, they jus
Much power. Yeah. Black rock was beat. Later this morning we do have more delivering alpha stars stopping by our set this morning including your Capital Management founder. This conference could start at 8 30 eastern time and the preshow starts right now. Dont miss them. They will be on stage together later this morning so a very busy day ahead but first up to speed on the top deadlines. Three big Global Market stories developing at this hour. Parliament is in session. The government must vote on reforms that have creditors insisting on a bailout. Then overnight in asia chinese gdp data coming in stronger than expected. 7 year over year in the Second Quarter. In other reports retail sales also topping forecasts and the main index is down about 3 . The boj leaving Monetary Policy unchanged today. That comes as expected. It continues to expect the economy to continue with a modest recovery. Chair janet yellen will begin two days of semiannual congressional testimony. Shell appear before
Inadequate on almost every level. Senator mark warner blasts twitter for presentation as big tech faces mounting political pressure. More details as the battle lines on the details of the plan are drawn. The president will speak about taxes live later on this morning. Markets continueto make history. The s p posted record close on thursday heading into the final session. The dow and s p on track for eighth consecutive positive quarter. Nasdaq going for five straight. It is edging out with a gain in q 3. Jim, we made it through almost september. Whats extraordinary, i have been going through the charts because i love the charts. Things were bouncing around fairly positively. Then we got to the month of september. We have had moves on a lot of stocks. They came in in august. Its a truck parts company. There were so many doubles of industrial companies, smaller cap companies, Tech Companies, drug companies. When you see these moves you keep thinking this has got to be the greatest bull ma
Exit balancing act. Mark carney walks the line between growth and inflation. How does the boe make policy in the dark . And the year of suspense. The fed takes the pressure off the frank but what does a 2017 political upheaval ahead mean for this safe haven trade question mark lets talk a little bit about where we stand in terms of the markets right now. The futures trade, were looking at the ftse which is absolutely flat as we watch what is happening. Lets talk about the next trade. What is going on with the smb today . The snb are expecting to hold that they are at a 75 basis points on their key rate. The important thing i think for the resident was him i will be speaking later this morning is that not only did the fed raise rates but they pushed up there dot plot. The expectations from the fed interestratee increases in 2017 and that kind of normalization makes his job little bit easier. It takes some of the pressure off the swiss franc as a safe haven currency and it does not have
Welcome to power lunch. Im melissa lee. All three major averages in the red. Nasdaq lower for the first time in four sessions. Among the biggest losers on the nasdaq 100, activision. Ty. Welcome everybody. Im tyler mathisen. Shares of hain celestial, an accounting probe. Much more on this story straight ahead. Were seeing a big move in oil once again. Crude touching its highest level in a month or so, back above 46 a barrel. And a Trump Campaign shooting down reports that former fox news chief roger ailes is advising the Trump Campaign specifically on debate preparation. The New York Times reported earlier today that the two were working together ahead of the president ial debates. Michelle. Tyler, i am michelle carusocabrera, and we begin power lunch with another big blow to obamacare. One of the nations Largest Health insurers is pulling out in all but four states. Cnbcs Bertha Coombs is working that story for us. She joins us with the details. Bertha. Michelle, its a sharp reversal