About the collapse of silicon bank west church of the largest Bank Failures in u. S. History. Congressman mchenry discussed the role the Federal Reserve and the Deposit Insurance Corporation Bank Regulation of Risk Management. This event as hope and by the brookings institution. Kground noises] [background noises] good morning everybody. Im director on fiscal and Monetary Policy and be half the hutch and Center Center on me you to this event both the people in the room and the people watching remotely. Our subject today is what lessons we have learned from the really interesting efforts of march 2023. A year ago the glol Financial System suffered the most significant banking stress since the Global Financial crisis of 2007 and eight. As you all probably know if event Silicon Valley bank failed prompt and the fdic to take it over the middle of the dayay could not even make d it to the weekend which is as a one off event. Silicon valley was certainly for lack of a better term unusual. Th
Mcmullen on persistent inflation and how the consumer is doing at the grocery store. Its a big deal for sure. Topping tape this morning is the focus on the fed and what youre seeing right now from markets is wait and see, Holding Pattern, if ive ever seen one. The s p is just about flat on the session and the nasdaq is outperforming, if you want to call it that, sarah. Its up about one quarter of 1 . Right now, weve got cnbc senior economics reporter Steve Liesman joining us right now steve, sarah and i talked about it this is very much about what the fed is going to say. Is there any surprise happening or is the market pretty much just baked in, that one quarter percentage point hike at this point . Actually, both of those are true the market has baked it in, but i think theres some possibility that the fed looks at the landscape, especially the landscape as tainted yesterday by the Regional Bank, the decline of Regional Bank stocks, and says, you know what, this is a problem here and
What it will take for the stocks to shift gears. And a problem with oil. Extending oil cuts through the end of the year. From new york, im alix steel with guy johnson. Welcome to Bloomberg Markets. It has been a pleasure. You look great. It is nice to see you back. We missed you. Guy i am back from greece where it is raining and very hot now in london. I feel like i am doing something right. Alix you made it through the strikes. Guy i made it. I think the story with strikes around the auto sector and with the airline sector, i think they are synonymous. These are industries that have pushed back really hard on their staff over a number of years and they are now paying the price. We have data coming in. We have got the ecb coming up next week. 2. 1 out of the states. Durable goods 5. 2 . That is right in line with expectations. Extransport coming up at 0. 4 . The durable goods numbers are in line. The factory numbers look good as well. I do not think the market will react much. The oil
Nvidia as it lives up to the expectations. Plus the department of justice takes aim to breakup live nation. Tesla ceo elon musk prepares to take the stage. First, lets check the markets. More broadly on these two singular names we want to highlight for you. Front and center, we are focusing on live nation down within 5 . The u. S. Justice department and almost 30 states suing live nation because they want the company to sell off ticketmaster. Live nation saying it is not them but the artist teams that set prices, not ticketmaster and they dispute the fact that they are a monopoly power. We have so much more as we go to the doj live. Nvidia up more than 9 . Extraordinary and eclipsing 1000. We therefore have a share split that will be music to investors ears. More music, a jump in revenue with you on your growth. No wonder the share price is up. So much to digest in terms of revenue, future revenue potential. They will double yet again to 28 billion in the next quarter. Ed this chart sh
Crown prince discussed ways from prevent the war from escalating as the you and a best of demands secretarygeneral resign for saying the october 7 attack did not happen in a vacuum. Microsoft jumping in late u. S. Trading after the cloud unit is worth picks up steam. Rival alphabet sinking as they are offering lags. Bank earnings continued rollout. Deutsche bank meeting estimates where they spent finish pumping santander some better than expected thirdquarter net income. We will speak exclusively to the cfo later this hour. I want to get a recap on the numbers which is important when we look at Deutsche Bank. We are seeing estimates and they are kind of being met but you are not seeing much outperformance. This is stark contrast to what you saw with unicredit but thirdquarter net revenue is 7. 1 3 billion in the estimate was 7. 1 one billion. Pretax profit is 1. 7 billion euros. The estimate was 1. 6 billion. There 2023 Net Litigation charges are exceeding their 2022 levels as well. I