Joining us for the entire hour is tobias levkovich. Welcome. Thank you is this just a bounce from oversold conditions or would you buy into the rally i think that it is more of a bounce off oversold conditions look, things like energy, financials, have come back we were so hammered in the last couple weeks the issue that you need to resolve is earnings. That will be the more problematic phenomenon and so do you feel good about what earnings could be i think that earnings are still too high for the balance of the year and beginning of next year. I think consensus numbers for next year for example are about 10 , probably should be more like 5, maybe 6. So that is the issue so doesnt feel so good the white house pushing the message that recession fears are overblown. President trump tweeting today, our economy is very strong decembspite the lack of vision the fed but democrats are trying to will the economy be bad for purposes of the 2020 election. Very slchish before our dollar is so str
Shares in Royal Dutch Shell drop as weaker prices hit the Second Quarter and profits fall to the lowest level in two years. And best in a decade barclays profits soar 80 in the first half as they hike its dividend our return on equity was 9. 3 so for the first half of the year it was over 9 , 9. 4 its probably the best statutory first half performance that barclays has had in nearly a decade and rio tinto shares come under pressure after the miners first half profits miss expectations despite a bumper special dividend we have a very decent Capital Allocation weve been implementing this for the last few years in terms of strength of balance sheet, in terms of investment in either growth project and returning cash to shareholders weve been doing that. Welcome to the Program European earnings season in full swing with key reports in the oil, mining, financial and industrial sectors shell its missed expectations reporting Second Quarter profit that fell 25 to a 30month low thanks in part t
There have been over 50 aftershocks since the first earthquake this morning. Some hitting a magnitude of up to 4. 0. A 6. 4 magnitude earthquake felt all over Southern California. Its the strongest recorded ear earthquake in the area since the 7. 1 quake in 1999. I think the main fault was rupturing down towards the southwest, which would have focused the energy towards ridge crest. Reporter Seismologist Lucy Jones described this as a strike slip quake which means two plates along the fault moved in opposite directions. The quake struck just after 10 30 local time in the Mojave Desert in ridge crest near the china base. This restaurant captured the the moment the quake hit. This is an area with a lot of little faults in a complex area. S ar hard hit. T that ridgecrest reporter this homecompletel. Everything on these super market shelves knocked to the floor. Some roads in thd apart. In los angeles, water mains bursting. Crowds of people pouring out into the street in downtown l. A. The
Little hawkish. Market didnt like it very much. So we do have a bit of a selloff on wall street at this hour. A couple of stocks to note specifically lulu and target. Well, they are down sharply after their earnings reports. Those reports only raising more questions about the state of the consumer this afternoon. It does take us to our talk of the tape. Where stocks are likely to go this evening in overtime. Lets bring in our experts. A cnbc contributor, josh brown. Ceo, cofounder. And also a cnbc contributor of the star analyst, stacey rascon with us as well of bernstein. We all know whats at stake here. Josh brown, why dont you tell us as a long standing shareholder of nvidia. How are you thinking about this report tonight . Yeah, i feel ive grown up with nvidia. Its been with me for a long time. Look, i feel that this is such a hard story, believe it or not. Youre up in this name, youre in this name for the thousands of percentage points. The problem what makes it harder normally wh
Bond traders price of fed rate cut one month earlier in november ahead of todays key u. S. Jobs report. Apple jumps after hours as it forecasts a return to sales growth. The iphone maker announcing a 110 billion Share Buyback, the biggest in u. S. History. In europe, the focus switches to banks with french lenders in the spotlight. Socgen reporting a profit beat as equity traders help lift results. A beat across the french lender. First quarter net income coming in at 1. 9 billion euros. Profits comfortably above the estimates of 1. 5 billion euros. Full year underlying net income at 6 billion euros. Rev knows for the First Quarter, 6. 8 one billion euros. Above the estimates for Credit Agricole in terms of some of the other details around this earnings picture. The Investment Banking side of the business also coming in with a beat. Upbeat in revenues, profits, in terms of the Investment Banking side of the business for Credit Agricole. The stock is up 13 year to date. The deputy ceo o