Disappoints with guidance despite a stellar Earnings Report china meanwhile puts a dent in audis forecast sending shares in parent vw lower. Theres a new word around town, the fed saying only some improvement in the labor market is now required for rates to go up. Good morning to everyone. We have so much to talk about today. Lets kick things off with earnings. European markets are rallying across the board amid a raft of corporate earnings. Lets kick things off with the bank shares of Deutsche Bank generalnys largest lender plagued by litigation costs. Investors are optimistic that john krein can set the bank on a different path. Rbs soars to the top of the ftse after the Company Posted surprise profit the statebacked lender speeding up its restructuring plans and booking a 1. 1 billion pound charge in the process. A sharp rise in Second Quarter profit. Weaker performance in the homes market is offset by better results in the uk and United States for santander. Deutsche bank everyone
Market investor tells cnbc intervention is not the solution. They are desperate to try to keep this market up and theyre trying every rule in the book to do that. Unfortunately as we know the more they do the more uncertainty is imposed on the market. Putting the brakes on profits at major auto maker. Bmw warns of slowing sales. Analysts worry theyre stalling on reforms. This despite delivering better than expected Second Quarter earnings. Hi everyone im seema mody. Coming up on the show hes a man with a plan. A Clean Power Plan as obama talks tough on Climate Change were asking you what would you give the president for his birthday, which by the way is today. The numbers are in and its not looking good for hillary clinton. We unveil the results of the latest nbc wall street journal poll. Plus angry bird produces angry gamers. Find out why the app ruffled some feathers later in the show. Lets show you what greek banking stocks are doing and theyre open now for a second day after they w
This after china is not ready for reserve status just yet. Meanwhile, it floats its currency sending it lower. Supermarket sweep. Profits rise amid stronger online sales. A merger looks more likely. All right, good morning everyone. It is coming. Minutes from last months fed meeting show, most officials believe theyre approaching the first rate hike in nearly a decade. Steve breaks down the Market Reaction to the news. A controversial and even confusing set of minutes from the july fed meeting in which the markets clearly saw them as dovish recommending the best chance of a first rate hike in september but a lot of them seeing them as neutral and period even slightly hawkish. Peter said fomc minutes, get me an advil. He thought they leaned dovish. What they said is the conditions havent been achieved yet but hold on because the conditions for a hike were approaching they said. Some said the conditions either had been met or would be met shortly. Now it also said a prompt start to norma
It is just tuesday. Brendan top headlines. Olivia chinese stocks brendan chinese vonnie chinese stocks taking another dive. Shanghai composite down 7. 6 percent. The benchmark has lost more than a fifth of its value since thursday. There are speculations the government is abandoning market olivia chinese stocks support measures. Europe is bouncing back from markets in the u. K. , france and germany in the green. Samestore in the u. S. , the s p 500 coming off the biggest two day drop in more than six years. Future indicate stocks will be up. The price of less texas intermediate more than 2 per barrel, it felt more than 5 yesterday. Atlanta said president atlanta fed president Dennis Lockhart expects the central bank to raise rates this year. He admits the matter is complicated by china, oil prices and a stronger dollar. Or cleese says the fed probably will not raise rates until next march. Barclays says the fed will not raise rates until next march. China is who Donald Trump Blames for
114. 8 versus the expectations of 113. 9 so slightly higher. Looking also at expectations in 102. 2 for the month of august. Thats in line for expectations and sil to what we saw in month of july. The greek crisis and political impact in germany at this point doesnt seem to have had a big impact on german business sentiment. Expectations for july at 102. 3. Lets get more on this. Joining us on the phone. A pleasure to have you on the show today. Will german business have to look elsewhere if china continues to weaken . That seems to be one of the Big Questions when i speak to economists. At the moment theyre still in a relatively good state. This month particularly in the improvement Retail Sector has improved, construction sector but all the manufacturing is relatively strong. The German Economy remains a rock in turbulent waters. How strong can it be with weakness out of china but also the strengthening euro which can hurt many of the exporters in germany. Well, the expectations decl