Good morning. A warm welcome to Worldwide Exchange here on cnbc. Im wilfred frost. Good morning. Im seema mody in for sara eisen. Always good to be about your side. Lovely to have you with us. U. S. Futures, interesting picture now if youre waking up. A mixed open were calling for the dow up 24 points. Nasdaq up 5. After surpassing 6,000 for the first time ever. S p 500 basically flat on the day. Keep in mind markets did rally yesterday. The dow posting its second consecutive day up 200 points. Intraday the dow ticked above 21,000. So far a positive week for equities, today the trump tax plan will be in focus. Will there be a reduction from 35 to 15 . The other big question what does that mean for the federal deficit . Will it go up if the plan is not revenue neutral . Lets look at the tenyear treasury note. Yielding around 2. 325 . The other thing to take away from markets yesterday. 9 out of 11 sectors were positive led by materials. It was broad and the performance was better than e
The broadbased losses. The dax is getting pushed punished, down 2 . Eurozone stocks down 1. 7 . Really broadbased losses and parts could be due to the stronger euro because we saw following the ecb Mario Draghis press conference, it hit an alltime high. We are up 0. 2 above the 1600 handle. We are seeing broadbased dollar weakness in the session playing through into other currencies in europe. The fixed income space, yield come down in at the core and periphery keeping a close eye on the peripheral spreads which i will get on in a moment. Look at the euro. A guest of the dollar, about 0. 2 higher. Sterling, ever so slightly higher, almost as he will. 1 almost a super. 1 after four day of losses. You are seeing Euro Weakness against the yen. We are down against the yen. Broadbased strength of the yen. Some divergence begs the question if the euro is due to the dollar weakness. If we look at what is happening with the germany spread, we saw it hit its lowest since 2015 after Mario Draghi
Credit suisse Ceo Tidjane Thiam tells cnbc the banks restructuring plans have started to bear fruit. Often people say, well, we focussed on the costs, not yet the revenues revenue is 9 , costs are 6 . That drives the operating leverage that you see in the numbers. And that will continue barclays sees its first earnings hit by the divestment of its Africa Business, but the shares move higher as Ceo Jes Staley tells cnbc the bank has turned a corner. Were now a clean bank and restructuring is over. We feel good about how the bank is positioned. We are free of all the legacy issues adidas shares hit a record high after the german sportswear maker raises its fullyear Sales Guidance ahead of next weeks numbers. Shares of renault drive lower despite a 17 rise i first half revenue, as analysts raise concerns about the french automakers levels of leverage absolutely huge set of numbers out from the Banking Sector this Week Barclays has posted a 1. 6 billion pound loss in the first half of the
It is down because net income declines and secondquarter operating income missed. An operating lost expected in the Third Quarter. Negative headlights as amazon continues to grow and powershares crippled to down a can someone percent. European banks in the spotlight in europe with lowball the theme. 70 increase in secondquarter profits for Credit Suisse and ubs, core equity tier one ratio the story which fell meaning there may not be a lob pass left over for a potential buyback. Eley banks still getting their house in order. Jonathan a man wearing the biggest smile with the stock up to several huge interviews on bloomberg tv, including from the Credit Suisse ceo and just daily, the berkeley berkeleys chief to. The republican attempt to scrap obamacare has collapsed in a earlymorning vote. John mccain and two other republicans. 48 democrats to block a strippeddown repeal bill and the Senate Majority leader pulled the measure from the floor and said it is time to move on, they would have
Nations nuclear arsenals. All of the latest from moscow. Welcome to whatd you miss . Bloomberg daybreak europe, our flagship show from the city of london. Deutsche bank, 50 less than at the height of the speculation of autumn. 1912. 50 ofe bank settles for the number originally expected. Monte dei paschi will ask for state aid from what we understand. I have gathered together the price to book ratios. The red is that of the whole of europe. How decimated is Banca Monte Paschi . 05 . Barely Deutsche Bank trade that. 4 , the blue line, and it has seen a little bit of recovery. The question the market needs to ask itself today, is there a renewed probability of rising values once a state bailout is in place and Deutsche Bank settles with the regulators . Deutsche bank has put 9 billion 2008. Ince 200 defrauding fannie and freddie and mortgagebacked securities has drawn and 46 billion in fines, but this is a state of play. As a proposition to the market, do you see a resurgence . The yield