This is bloomberg surveillance. On the show today, we are joined by the global head of g10 at bnp paribas. Well get to them and the second. First thing is first, lets quickly check on your data. This is the picture for stocks. Now, investors are trying to be in a Holding Pattern ahead of the Federal Reserve meeting next week in which policymakers are expected to raise Interest Rates. A key function on the bloomberg terminal. It gives me a 99 probability. 200 probability of a rate hike but who knows . On the back of that, the stocks 600 practically flat. So, stock have been fluctuating. Asian shares climbed after we had this import figures. Treasuries edging low and the Dollar Strengthening and watch out for pound. 1. 2167. Rsus dollar nejra it is a merge that donald trump met last april with the Russian Ambassador despite claims he had zero involvement with russian officials. Attention to his encounter with him resurfaced after revelations of five members of his Campaign Team had conta
Desperate luminary aprils preliminary university of michigan sentiment. David welcome back to the program. Is it as good as he makes it out to be . So far. I havent been through the full release. The Biggest Surprise coming from trading, whenever they have a big beat like that, that is the first place i look. Fixed income coming in betterthanexpected. Growth came up 17 yearoveryear. Analysts expected trading to be down and was actually a bit higher. Long growth came in around 9 . Trading, weok at focus on the Net Interest Margins. The industry statistics have shown a big slowdown. Question andk the there wasnt a solid answer as to why the industry was showing slowdown. Some of the regional banks have been sing that theyve been saying Slower Growth saying that theyve been seeing Slower Growth as well. David it is tapering off somewhat. Yes. Last year, a lot of the growth came from mortgages. Holding more mortgages on your book. Where investors are focusing this quarter is the slowdown i
Level since july, and on some levels the british pound falling to its lowest level against the dollar in decades. Could this Dollar Strength ultimately be bad for u. S. Stocks . Kate moore, what do you think . One of the things we were excited about in the second half of 2016 was the lack of the headwind from a much stronger dollar, and here we are getting a little bit of appreciation. I would note that the trade weighted dollar, not just the dxy index, actually still significantly weaker than at the beginning of this year. I think speculators got turned the wrong way. From a positioning standpoint, i think everyone is getting back to what their thesis was. I do think ultimately it could be problematic. It could be problematic in a couple of areas. You would like to see a cheaper dollar. The rate of the increase is also problematic. Then lastly, whats the impact on emerging market currencies which well see outflows and well not well have a deappreciative affect on their currency. Dont
Here is what is happening at this hour. The Labor Department says there were 5. 4 million jobs open in the month of august. That number a little bit lower than expected. Hurricane nicole gaining strength as it heads towards bermuda. The storm not expected to turn towards the United States. Mercifully. And stocks are slightly higher as the street awaits those fed minutes that brian just mentioned. Right now, the dow is up 40 points after yesterdays big selloff. And speaking of the fed, just one factor in play in todays session. The election. Another as investors turn their attention to those socalled down ballot races. Congressional contests that are coming up in about three weeks time. A little more than three. Were going to hit the story from both sides, eamon javers, lets kick it off with bob pisani on the floor of the new york stock exchange. The market appears to believe that Hillary Clinton will be the winner. The problem is they dont want her to win by too much. There are specifi
9. Terry is here joining us. We tackle samsung first this hour. Warning about thirdquarter profits, slashing them by a third as the production eats into their bottom line. Apple, meanwhile, is up 20 over the last month and up several days in a row. Cole windergart hasnote on apple called evidence on iphone strength. Good to have you back. Hi, how are you . How much strength are you assigning to samsungs difficulties . We already thought the iphone 7 would do quite well. In addition to this, the way i think of it, the note portfolio specifically we think maybe does 20 Million Units a year. We think apple can capture at least half of that volume Going Forward because this products now going to be halted. There is a longerterm issue that will be more beneficial and currently underestimating expectations, which is you think of the high end of the smartphone market, 350 Million Units a year. Its a twoplayer market. And what we have found in the past is when market share shifts to apple, the