commerzbank trading up by around 3%. of a squeeze going on but we have this unicredit story. the possibility that unicredit would bid for commerzbank. the u.s., then s&p 500 is clambering back up. one of the better performers is all of theven after revelations from amazon cloud servers that there are millions and millions of pieces of user data. micron is down 2.8%. enthusiasm has gone a bit too far according to wall street. in fairness, the person who pointed this out has been talking about overly enthusiastic analysts on chip stocks for some time. dow is one of the better performers in the s&p. nearly 11% gains since it started trading on tuesday. we turn now to brexit as negotiators for theresa may and jeremy corbyn continue intensive talks to see compromise. someone who knows about the art of compromise is diplomat kim darroch, u.k. ambassador to the u.s. he has served in many roles in the united kingdom and elsewhere. he joins us from our washington, d.c. bureau. the fut
investors cheer more cost cutting at barclays. the bank s new boss says it will accelerate the sale of assets after delivering a sharp rise in q2 net profit. good morning, everyone. it is 10:00 a.m. here in london 5:00 a.m. if you are just waking up on the east coast. here s a look at the u.s. futures. s&p 500 just fractionally higher. the dow jones is up and the nasdaq seen higher by 12 points. this follows yesterday s strong rally. the dow was up by more than 1% s&p up by more than 1%. the major averages snapping a five-day losing streak and closed near the highs of the session. actually we saw pretty heavy volumes. 4.1 billion shares were traded on the nyse versus 3.4 billion that you saw. today all eyes on the fed and whether the statement will give us any clues on when the fed will move ahead with its first rate hike but also one sector that did extremely well in yesterday s trading session is energy. saw that up by 3% yesterday because investors came back in and bough
quickly as possible. this will make it them in there, they can help to mitigate the situation. you are watching ktvu vox 2 news at noon. we are bringing a live update on the firestorms from officials. they are still there and we ve been helping them get in to their farms and ranches so they can feed their livestock. we are working with them and the california department of food and agriculture to do that. with that, as director ghilarducci and the chief said, we understand how this is affecting many people in this area and in southern california. we will continue to work together as a group to mitigate this emergency and help people get back to normal. thank you very much. and i d like to introduce bob baird, the fire aviation director for the u.s. forest service. good day. my name is robert baird, the director for fire and aviation for the united states forest service for the pacific southwest region. which is california and the pacific islands. we have been working to
shrink the fed s balance sheet. david? david: we re goined by mr. campbell who covers banks for bloomberg and alice williams. she was a banker for morgan stanley and u.b.s. let s start with the numbers because they broke 15 minutes ago now. they re basically up across the board according to estimates and last year. mr. campbell: that s right. really what this is about is the expense story. it looks like that s our initial read, noninterest expenses are lower than analysts had expected so bank of america did better on that. credit cost provisions are ower than analysts expected. that s a good story. people may have questions on revenue growth. bank of america came up short on net interest income with interest rates rising a bit during the quarter. there s interest there. bond trade chg was going to be there were a lot of good expectations for bond trading this quarter. bank of america came in short on that. david: focus on the trading because it came in low. as you point out
producers about a planned output cut. wti has fallen under $50 a barrel. right now 49.43. as for stocks to watch, chep ch chipotle s third quarter profit falling. the same-store sales fell nearly 22%, worse than expected. they have forecast sales to rise in the high single digits in 2017. panera bread s third quarter results beating forecast. they were helped by price increases on its menu and it is raising the full-year outlook. that stock seeing a nice pop. pandora s third quarter earnings falling short of estimates. they are also cutting the full-year guidance as the number of active listeners fall and costs rise. akamai rising 6% beating forecasts. the company, which helps speed up the delivery of content over the internet was helped by strong demand for its cloud security products. pandora, what s the problem? apple? i don t know if it s apple, i think it s more of a spotify thing. spotify is doing well? it s just a fraction just split up now. it s a tiny