Will the sector drive the Global Equity rally through the european open . Plus, 1 billion in cost cuts. Rbs said to be eliminating jobs and close branches. Will it be enough to push it to profitability . Matt we are less than a halfhour away from the european open. Take a look at european futures. After the u. S. S p rose to an alltime high once again and asian stocks were up overnight, we see european futures pointing to a higher open. I should point out that none of the major indexes in europe is out on alltime high. The ftse hit its alltime high in the beginning of january. A lot of the other indexes are waiting until are a year away from their alltime highs. They were in 2015. Take a look at bunds. I have the open. This is a tj twoday chart of bunds. This is the friday trade. Opening with yields coming down somewhat, 0. 328 . I should point out that we are still at very low levels, if you look historically, and takeaway inflation. I have got a chart that shows andspread between the
Good morning, it is 10 00 a. M. At at t headquarters in dallas, 11 00 a. M. On wall street, and squawk alley is live. Welcome to squawk alley for a monday morning, john ford and myself along with ceo terry and Senior Editor peter cofta. Good morning to you both. Our top story fairly obvious, at t buying time warner for 85. 4 million. A deal uniquely different than anything theyve done before. Regulators already raising red flags, possibly putting an end to the deal before it begins. The senate and Consumer Rights is looking to schedule its first hearing on the merger next month, and its not just washington, the competition also warning against the deal with one disney spokesperson saying, a transaction of this magnitude obviously warrants close scrutiny. Time warner ceo says the focus is vertical and mobile. We were talking about whats happening in media, all these new products like subscription v. O. D. Networks, all the increase in mobile consumption of video, and as we got into it a
On cnbc. Im wilfred frost alongside seema moody. Great to see you. A continuation of how we ended last week. By that i mean buying off stocks and the dollar higher. We had a weekend to pause and consider whether that is the right move and markets seem to think it is. They are continuing in that direction, albeit more muted than the huge moves immediately after Donald Trumps election victory. We are higher just shy of 100 points on the dow, 94 to be precise. The s p by 8. The nasdaq by 14. Huge moves last week to the tune of 5 to 6 as a whole. But it is worth pointing out there was differentiation within it. This was not just a move that growth will be higher in all sectors and they will all benefit. It was based on the fact that yields moved higher and with that the sector rotation was clear. Financials are up a huge 11 for the week. But utilities were down. Well have a look at the tenyear note. We are 2. 28, sorry, 2. 22 moving higher. You can see that stock shutting higher in the las
Tom, we had a little bit of eurozone data out. Continue watching a lot of the banks. We are waiting for Standard Chartered. Hsbc all about costcutting. I do not see how that could be a good strategy. Costcutting is front and center but all the focus is away from Standard Chartered on those European Banks. Bid thisbit of a morning. Francine they do a little bit. Certainly some of the stronger banks. Standard chartered coming up, we have to look at pretax, worse than expected. It is the Capital Buffers that investors are watching out before out for. Ct1all, that first half capital ratio 13 13. 1 . Pretax a little bit below. Capitalirst half ct1 ratio 13. 1 . Tom Standard Chartered is an emerging market proxy. Youve got the mexican peso out to to 19. That is all you need to know about emerging markets. Ian markets more than Central America but you make a very good point that this is not really a u. K. Bank. They are headquartered here but it is an asian bank. Lets get to first word news.
Controversies and all. We begin in syria where a partial ceasefire, the most significant in five years, conflict appears to be holding. However, although the violence has significantly subsided, it hasnt completely stopped. Syrias opposition is accusing Government Forces of attacking at least 15 rebel held areas. We have more from the syrian border. Day two of the truce got off to a bad start. A war plane believed to be russian hit villages and towns in aleppo province. People here in the town thought they were safe. Many people woke up to this, following the Early Morning raids. People were sleeping. They hit the houses, shops, the markets. Get your militia out, this from iran and hezbollah. The truce was meant to help the people but seemed it different. Alqaeda and size relevant are exclude from the deal. People deny that fighters here. Activists have said that the group is one of the a number of rebel Groups Holding the area. Little terms can be interpreted different by all the warr