Welcome to squawk box. Im becky quick along with joe kernen and Andrew Ross Sorkin. Futures are indicated higher this morning, triple digit gains for the dow up by about 167 points but yesterday was a big down day for the markets. Dow was down by over 400 points, 1. 4 the s p and nasdaq done evz nasy even more. This morning s p indicated up by about 25 and nasdaq looks like it would open up by over 100 points fairly significant obviously everybody watching what will be happening with the stimulus talks with the deadline that nancy pelosi has said for later today. Lets take a look at the treasury markets ahead of that, you will see that the ten year looks like it is yielding 0. 777 so a little stronger yields for the treasury markets right now but andrew, obviously washington is where people are watching and that is exactly where well go because House Speaker nancy pelosi and Steve Mnuchin are saying that they are making progress in their latest stimulus talks with time running short of
Report 1. 5 million euro loss leading to job cuts. Industrial profit forecasts beat sending shares higher the ceo says hes cautiously optimistic we have the prices under control as much as we can control it going forward, there is some volatility that we will see a second wave. Mining giant glen core ditches its dividend following a massive impairment charge following the bottom of the stoxx 600. A warm welcome to street signs. It is a big day before the bank of england keeping rates steady and left the size of the Asset Program unchanged. Bankers are painting a more pessimistic recovery warning that they wont return to precrisis levels before the end of the year. They expect the rate to double by the end of 2020 looking at the action surrounding the bank of england news starting with guilt we have the move lower out 2. 5 . Third year trading 64 points or so sterling has hit a fresh fivemonthify versus the dollar. Currency investors like what they see to get into more detail from the b
For the rest of the year well get a bunch after the bell including netflix. President trump is set to meet with new York Governor Andrew Cuomo this afternoon key relationship for the country and our pandemic response, which has been marked by tension and cooperation in the last few weeks. Well bring you that as soon as it begins. Were expecting that within the hour ahead on todays show, a key move for earnings. Netflix, chipotle, Texas Instruments and snapchat gear up for results after the close. Full coverage of those names and ana analysis of the reports when they come out. And how volatility has impacted brokers. Well speak with chairman Thomas Peterffy after the numbers hit were down 2. 8 on the s p 500 oil very much in focus energy the best performing sector today, only down 0. 6 well dig into all of that coming up for you. Mike santoli is tracking that market selloff. We have got the cohead of oil trading, ben lucker, important guest to join us to discuss crudes unprecedented vol
Results. Julia ba Julia Boorstin is in los angeles and very volatile in the afterhours session. Melissa, great to have you back netflix adding 15. 7 million subscribers and thats about double what analysts expected. The company also forecasting the addition of 7. 5 million subscribers in the Second Quarter and thats more than 3 million more than analyst predictions for that Ceo Reed Hastings saying there are three main effects of coronavirus. In addition to subscriber growth temporarily accelerating due to home confinement and he says that International Revenue will be lower than previous forecast due to the dollars sharp rise and he also says due to production shutdowns and spending on contact will be delayed. Hastings also expects viewing to decline and subscriber growths it decelerate as home confinement ends and as for the impact of netflix does expect some delays and they do expect secondquarter content to be modestly impacted. Since we have a Large Library with thousands of title
To try to get there first and that sort of thing so im hopeful we will very much try to learn as much as possible from that facility and from all the other ones too we have a lot to learn here. So well certainly be trying to do that. In terms of fiscal concern, so, you know, for many years ive been before the fed i have longtime been an advocate for the need for the United States to return a sustainable path from a fiscal perspective at the federal level. We have not been on such a path for some time, which just means that the debt is growing faster than the economy this is not the time to act on those concerns this is the time to use the great fiscal power of the United States to do what we can to support the economy and try to get through this with as little damage to the longerrun productive capacity the economy has possible the time will come, again, and reasonably soon, i think, where we can think about a longterm way to get our fiscal house in order, and we absolutely need to do