lifeline. we will hear from the morgan stanley ceo on the big $13 billion acquisition of e trade. paul. paul: thanks, emily. let s check on how futures are looking in asia. looking like a much quieter day than yesterday. sydney futures looking fairly flat right now. u.k. futures looking weaker by 0.4%. a bit of a move down in costly futures. we saw u.s. markets ending modestly low. concerns about earnings downgrade. more on that later. new zealand also trading right now. currently flat. emily: thanks. let s get a check of where the u.s. markets closed today. taylor riggs is in the newsroom. what were the highlights? taylor: sort of a risk off day. really 500 big companies leading the losses. bonds rallying five basis points after the crucial 1.51, and the yield curve is inverted by the most since october, six basis points. take a look at the chart in my terminal that put the selloff into perspective. the chip performance relative to s&p 500 performance is still near an 18 yea
biggest loser. you just heard from courtney, after missing on earnings and slashing that forecast joining us for the full first hour, wealth management. josh, as we just mentioned, fedex down a full 10% on earnings what s your take on that it s important to point out that this trend in fedex stock actually began in january 2018 it s been falling almost two years straight with very little respite on the way down. at this point, i think the answer, what you do with fedex, differs if you re a trader or an investor if you re a trader, you re not buying the stock i don t think there s any material support looking back at a ten-year chart until about 119, 120 that was prior resistance. it broke out it has retested that level before successfully. that s where i would look at a tradeable bottom we re not quite there yet. if you re an investor, you have to look at this moment to say this is maybe conceivably the most confluence of events. having trouble integrating the tnt acquisiti
we will look at the performance of asian makers and hear from general motors. let s see how things are shaping up for asian rackets. markets. roiling s tweets are markets and the stocks look to be opening at a low. taking a look at nikki futures, down a little more than 1%. this brings on the prospect of more retaliation. that will be way down on the .hares of these asian companies especially when japan opens, we will be seeing what s going to happen between japan and south korea. we are expecting the prime minister to have an announcement about how they treat those south korean companies. looking closely ahead to that as well as checking on the commodities later. sophie: thanks so much. checking in on the terminal. oc been numbers coming up, rounding out the three big lenders. net income at $1.22 billion compared to the estimate of $1.9 billion. allowances for loans and other assets came out at $111 million. second-quarter growth was likely driven by expansion in interbank
arrows this morning. monday, june 10th, 2019 and squawk box begins right now. live from new york where business never sleeps, this is squawk box. good morning, everybody. welcome to squawk box here on cnbc we are live from the nasdaq market site in times square. i m becky quick along with joe kernen and mike santoli. andrew is out today. u.s. equities this morning, things are looking up once again after the tariffs with mexico have been called off the dow futures are indicated up another 107 points s&p futures up by 10 1/2 nasdaq up by 23, almost 24 this morning. dow has now been up five days in a row. the s&p 500 and nasdaq were up four days. the dow now breaking a six-week losing streak, i should say. that was its longest in eight years with that big gain that we saw from last week again, five days in a row with gains looking at triple digit gains open now take a look at what s been happening in the treasury market yields the other big story after the jobs rep
central bank has tried to step in the way. that is not working but the brazilian real is trading lower. 100 is now trading down by 2.2%. european equities in general the cac 40 down 2%. and global bond markets, particularly the g10 bond market in focus. vonnie: the equity selloff picking up steam. we know what this is all about. our next guest is going to tell us all about the market psychology following the central bank moves this week. the 10 year yield is staying hot at 2.42%. nevertheless, we know the yield curve is inverted at the three-month tenure range. the two point tens were still not inverted but we are below 12 basis points. let s get some more insight on today s big bond news and what is happening in other asset classes. we have this inversion vonnie was mentioning in the u.s. curve and then we have the german ten-year turning negative. this is the first time that is happened since 2016. joining us to discuss is the vice chairman and head of central bank stra