European equities are trading. 30 minutes until the end of the wednesday session. Stocks are falling today. Of swings and between gains and losses on the stoxx 600. Conjugating, deliberating, thinking about what the double trump election victory means. Bond yields are rising. Today after a respect yesterday from the selloff since trumps election. Statecontrolled dutch lender, shares down by 3. 8 today. It did report stronger than estimated profits in the third quarter. It also said it would cut another 1500 jobs as part of a Cost Reduction plan. It returned as a publicly traded company last year. It says the job cuts it needed to offset rising costs. Voice royce says its making progress with restructuring efforts. Says its making progress with restructuring efforts. Profit, and for Group Revenue to be marginally lower than last years 30. 7 billion. The chieft, executive, in the midst of a massive overhaul after 5 profit warnings. Rolls royce down by 1. 5 . Had the mining index which ha
Equity board. S p 500 futures negative not even a 10th of 1 . Minors leading the losses. Switch of the board. All eyes on crude. Inching to the 50 mark. Wti 48. This is what i am looking at in the fx market. A dollar on the front foot. Switch the board and get to this. 14483. One pound, camp. The remaining 37 in the leave. The referendum is ahead on june 23. That is when we are now where you get one pool and you get the spike. Lisa it wasnt one single pole, there was building up to this. Jonathan a bit of momentum may be. David now lets go around the world and check in with our Bloomberg Team for indepth coverage of our top stories. Mike is an anchor of bloomberg surveillance radio. Cooks first trip to india. Matts house and joins us. Lets begin now with mike. This is the feds april meeting that and minutes of the fans april meeting are out today. , what are we looking at . Michael they have been trying to talk the markets of present time and we are finally getting some reaction. Inves
Their markets and energy has a lot to do with it. Said evenng as carol the nasdaq which has been holding up pretty well is down one third of 1 . The imap. K at much more rate on the screen. Only some subsectors in the green and it is financials that at leastn the top spot in terms of percentage declines. There tends to be some coincidence of movement between the two because it concerns because of current concerns. They keep flipflopping akin forth between the two worst performers. Oil prices remain lower. Even though there have been supplied constraint in nigeria and more supply coming back online in canada following the wildfires. We have seen oil steadily lower throughout the session. Lets look at the damage within the Energy Stocks. All lower. Exxon declared force majeure in nigeria at one of its projects basically suspending production. Of its contract because of that and then he can flip over and look at the and i Energy Stocks and declines were seeing. Her you have transocean, so
If you look at what is going on with stocks, we are not being much of a positive reaction, but we will keep an eye on it and see if we see any kind of delayed reaction. Not to mention the fact that the oecd is also cutting its growth forecast for the u. S. To 1. 8 from 2 . Lets take a look at the groups on the move. Energy in the bottom spot, followed by materials, initials. We have a cyclically led decline in stocks at some of the defensive groups like Consumer Staples and utilities are doing better, but a relatively broadbased decline with the exception of those two group. I want to pinpoint what is going on with the auto sector. In general, sales we are seeing worse than estimated numbers, particularly at General Motors where numbers plunged 18 . All four of the brands within gm reporting to clients at least 13 . For vehicle sales down 6. 1 . Fiat chrysler sales actually beat estimates, unexpectedly rising 1. 1 , but that is not helping the shares. We are seeing them fall as well, s
Lower by 51 points. S p by 5, nasdaq giving up 14. Weighing on the dow, of course, is disney. Overnight in asia, the nikkei is managing to turn a little higher at the moment. The shanghai composite a little in the green. European equities, this one interesting to watch. A couple crosscurrents to watch. German dax down 1 . Frances cac, down almost 1 . And taking a look at crude, too. We got inventory numbers yesterday. After noon, well get more information this morning. Wti, that looks down its almost 1 . Hovering a little bit over the 44 a barrel mark. Brent for its part giving up about 0. 5 . Right around 45. A little higher as well, natural gas. Clerks our top stories, shares of dow component disney under pressure. Earnings falling short among the espn subscriptions fell and ad revenue dropped. Ceo bob iger discovering cordcutting answer the future of viewership on the conference call. Were also in discussions with a number of entities, some current distributors that are coming forwa