Sanctions and claims to the South China Sea take center stage today. Stocks are shrugging it off. The dow up more than 400 points but the big tech is struggling faang, internet names that have been on fire are seeing weakness today. Were following it all 59 minutes left of trade. Certainly weve been all over the place in markets but were up as we stand with the major indexes we have a big line up of guests. In a few moments well speak with shrewsberry, cfo of wells fargo. And Robert Kaplan will join us and well speak with Michigan Governor Gretchen Whitmer an earlier biden endorser as biden lays out more details of his economic plan. Lets focus in on the big stories were watching at this hour wilfred has the highlights ph wilfred, start off with the banks here. The key focus, sara, as we expected it to be on provisions for potential bad loans. They rose from all the banks from q 1 to q 2 and rose more than expected. Wells fargos more than doubling quarter over quarter the big question
Trade pl galactic, can it keep soaring. Tim and dan go man ho y manno and fed pecks. You decide who wins. All that next 60 minutes we start with another record day on wall street as the snazzy animation says the s p 500 and nasdaq closing at alltime highs. The dow up gold up. Oil up real estate up guy. Yes, sir. Whats up bonds under u. N. Changed a repeat what weve been talking about. We led with apple last night whats the deal. We talked about the price action should have been worse karen and tim spoke about this we talked about the suppliers. Kor various. Skyworks werent down as much as they should have been. The look at the stocks today apple up big the flows come in. Bad news discounted you could say the fed has our back i dont know but ill tell you gold rallies Newmont Mining rallies thats a concern if you want to continue on the bull thesis in the s p 500. Look at the u. S. Dollar 3. 5 year to date look at the fact you get this move higher in gold. You get some of the call them d
Rbf and barclays to follow. Today, we hear from the cfo of Software Giant sap. Welcome to bloomberg daybreak europe. Has described Boris Johnsons situation this morning looking at a fruit tree but unable to eat or drink anything. He is going to try and put a meaningful vote to parliament today. Speculation is he may have those votes by just 16 in terms of that amendment. And then we look ahead to this week. If we get a vote, we asked whether it will pass. Optimismms to be some in the market. Sterling is softer today but the drop of. 5 , nothing compared to the gain of 5 this month. Votef them saying a was passed this week. , credit of strategists agricole, we could see 136 in the mediumterm. One week volatility staying elevated near the 2016 highs. Manus. Manus that is the conversation we had yesterday. He said a lot of the risk is in the Options Market, not in the spot market. Hard brexit risk runs for the rest of 20 20. Even if he gets a deal over the line because he has a lot of tra
Cool going into earnings binge next we can. Its time to risk less and make more options action starts now. Lets get right to it a slough of Big Bank Earnings on deck goldman sachs, wells fargo, report on tuesday followed by results from bank and america and Morgan Stanley later in the week financials up more than 17 this year underperforming the Broader Market one trader is betting on a bounce for one name in a report. Lets get into the money right now and dan what are you looking at. Regular viewers of the network probably know im not constructive on bank stocks here i do not like the way the investment banks act i dont like the way some of the Money Centers act but i like the way jpmorgan acted if you have to buy a bank buy jpmorgan on dips but here is the twoyear chart on jpmorgan this has been routinely rejected dating back to early 2018. And its having obviously some trouble there. That being said its the only major bank on the planet making a new high since the financial crisis a
Next week. Time to risk less and make more. Options action starts now. Lets get right to it a slough of Big Bank Earnings on deck goldman sachs, wells fargo, report on tuesday followed by results from bank of america and Morgan Stanley later in the week financials up more than 17 this year underperforming the Broader Market one trader betting on a bounce for one name in a report lets get into the money right now and dan what are you looking at. Regular viewers of the network probably know im not constructive on bank stocks here i do not like the way the investment banks act i dont like the way some of the Money Centers act but i like the way jp morgan acted if you have to buy a bank buy jp morgan on dips but here is the twoyear chart on jp morgan this is routinely rejected between 119 and 10 dating back to early 2018. And its having obviously some trouble there. That being said its the only major bank on the planet making a new high since the financial crisis and its obviously best of