Forecasts. The top lines are up. Revenues up 4 if you look at the activities. Despite the impact iag luke to raise 3 billion euros and klm unveils an operating loss sending both shares into the red. Six years of growth wiped out in spain as gdp drops in the Second Quarter but the French Economy shrinks less than expected down 15. 8 . Happy friday welcome to street signs. Weve got a lot of earnings to get to lets talk gdp first weve heard from france and spain. Now numbers from italy preliminary q 2 gdp slank quarter on quarter less expected a value. Theyve advised their q 1 estimate of 5. 4 contraction quarter on quarter and 5. 4 year on year. Slightly worse than anticipated. Q 1 marginally worse but q 2 better than expecting. An unprecedented slump for italy but the takeaway better than analysts had feared. Not quite as grim as the market had been bracing for looking at the euro gaining ground currently trades around 118. 77 we have the france and spain numbers. Spains economy shrunk
Akwy sessiak ak akwywy situation of etrade. Will has the highlights. Hey, carl as you said, just last hour we were talking with james gorman, the ceo, and said he first got attracted to etrade back in 2002 when he was still at merrill. He said the conversations this time got real in december. Heres what he had to say about that 13 billion price tag i never worry about strategy. Im never trying to copy what somebody else is doing we have to do whats right for Morgan Stanley you have to be opportunistic, move and move quickly. We put in a very full, i think appropriately, a bid for a Great Company with an iconic brand if we tried to to do it on the cheap, that would have created turmoil. You get the job done thats what we did this is what he said about the rationale for the deal we bring in a group of technologists that i think will drive Technology Platforms even further than that weve been able to do they have Online Banking we can roll that to premium clients. We have a lot of young c
Markets, cautiously up on the nasdaq at the moment,. 3 . Big week. Weve got the fed, all important claims, jobs data on friday. We are seeing a 10year yield of diving back four or five basis points ahead of the Federal Reserve and where we see the economy and the Interest Rate environment going. Notably, a lot capturing the attention in japan at the moment. Some of the training is going to be more muted, but with the yen its big volatility over the dollaryen, which goes higher. Was it japanese boj intervention . They remain mum on the subject. Bitcoin, down against the u. S. Dollar by 1. 25 with a risk off yield more generally and etf frozen. What are you looking at on the micro . Ed tesla, which is a big, almost surprise story. Just a few tenths of a percent away from its biggest jump since january of 2020 two. Similar to the gains we saw april 24. Full self driving in china according to a bloomberg source. Two subsets of that. A partnership with baidu on income mapping, specifically
Highs. The s p was having quite a rally since thursday. Remember the bottom on thursday. Thats when we heard the uae minister trying to create a halt in production or discussions about that. Since then the markets rally close to 70 points. Really very impressive. We saw all sorts of things turn around on this. The oil rallied and u. S. Bank stocks again are rallying today. So the big names, bank of america, all leading the market up 2. 5 on average. Defensive names, all the stuff that was doing well last week are down today. Your Telecom Stocks like verizon are lagging. Your utility names and consumer staple defensive names are flat to down. Its important to reiterate how much stocks have rallied since that bottom in the middle of the day on thursday. If you look at a group of stocks, bank stocks, citigroup is almost up 12 since the bottom on thursday. Big Global Industrial names like General Electric and caterpillar are all up 4 to 6 . And even exxon and chevron were up 5 or 6 or so a
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