Markets setting new highs. It does raise questions about whether many of the biggest names are simply worth your money or not. Doc, youve been talking about the banks being a good place to be. Jpmorgans cfo starting this yesterday whether brian moynihan, Morgan Stanley sounding the same sort of alarms. Why should investors be in these stocks . You should wait for a moment like yesterday in Goldman Sachs and you see a 7 or 8 collapse. That happens. It happens in great stocks, jpmorgan, whether its the whale. Yesterday it was reaction to the venezuelan bonds that Goldman Sachs purchased for 31 cents on the dollar. People werent questioning whether they were going to lose money on the bonds, they were questioning ethical questions about should you be supporting that particular dictator and so forth by virtue of basically backing his bonds. Arent we talking this is a simple story. Trading is down. Yep. Trading is bad. Yields are too low. Banks cant make money. Why buy the stocks, erin. The
Lawmakers walk through their starting legislative session. We will bring you live coverage here on cspan. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] [captions Copyright National cable satellite corp. 2017] [captioning made possible by the national captioning institute, inc. , in cooperation with the United States house of representatives. Any use of the closedcaptioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u. S. House of representatives. ] the speaker the house will be in order. The prayer will be offered by our chaplain, father conroy. Chaplain conroy let us pray. Gracious god, we give you thanks for giving us another day. You have blessed us with all good gifts and with thankful hearts we express our gratitude. You have created us with opportunities to serve other people in their need, to share together in respect and affection
Anna warm welcome to bloomberg daybreak. It is the first jobs report under the tenure of the new president. Steady as she goes seems to be the consensus from the markets. Thenumber is 180,000, below six months number and below the 12 month number. On the nose at 100 80,000. Who is hiring . Itroll is feeding through that it is the small firms that are hiring. 18 of the small firms are doing the biggest share of the hiring but it will be all about the wages. We are looking for 2. 5 . Anna it will be interesting to see the response politically we will get. Trumpt extent will donald take credit for the resurgence in the animal spirit and the increase in job creation. During the campaign, he was casting doubt on the validity of the unemployment data sticks. Saying that a head the unimpressed that they hid unemployment. Honda is listing their operating profit outlook two ¥75 billion. They are giving their numbers. It is coming in above as to meds. A good set of numbers from honda. But polit
But has it been a success or has it sewn more confusion . We talk about that in the program. European leaders discuss transatlantic duration relations in malta. Matt that will be an incredibly interesting must watch interview. Justin about an hour time. See very little change to equity index futures. Orlly, no change in london here in frankfurt. In paris, you see a little gain about 1 10 of 1 . Some really interesting moves today and i think the news is driving yield markets. Guy have you got the bunds up . Response to the news we had out a little earlier. And fundo doddfrank management. We will talk about that, is it a good thing, a bad thing customer we will talk about that. The yen is down a little bit. The bloomberg dollar Index Trading up by around 1 10 of 1 . It is payroll day. Remember the adp report we had earlier in the week. Well talk about the correlation later. Matt shoji the futures. Showed you the futures. Nd yields,e bud beginning to fade a little in reaction to what is
Happening 30 minutes away from the end of the friday session. Stoxx 600 is up for the second day. Were headed for the second weekly drop in three. The bestperforming industry group. Sharesthe spanish lender 9 earlier, falling the most june 24. The lender, which has repeatedly Cap Investors for funds, reporting a worse than expected quarter. It booked for provisions of last year of 5. 7 billion euros to cover costs, cover losses for items including loans, real estate, and excess interest charge to mortgage clients will stop it left it with a fully loaded direct rating. I figure the lender says it could improve by boosting earnings and selling off noncore businesses. Shares in the last year are down by 54 . We were talking about insurance. This is europes bestperforming stock. This is a oneyear chart. Rising jump since 2008, by 10 . Shares of a record as well. Lloyds of london insurers, profit thomas does profit, the estimates. Insurers, of london shows profit, beat estimates. Earnings a