Thirdquarter Profit Guidance also a miss. Up in smoke. Jules defense of its marketing policy goes proof. The company is grilled by lawmakers in washington who say more teens are getting hooked. First to our top story, a tale of two earnings as amazon and alphabet report secondquarter results. Shares of the Parent Company jumping while amazon is heading in a different direction. Alphabet reported revenue that beat the highest estimates, calling concerns of slowing growth at the heart of the largest digital ad company. Grew by the cloud unit 37 , but not enough to top estimates. Discuss to you cover alphabet and amazon, so what is happening here . Bad q1,bet was such a that it was easy to step back from the disaster they had. They put a great number up. 25 billion. L this is one of the cheapest largecap tech names we cover. It was the worst sentiment going cover. Ny techmeme we it is definitely the least givenarent company, so the q1 blitz, this is a rebound. I am not sure investors will
Nejra welcome to surveillance, with another record on the s p 500 yesterday. We could have another flat day. What will earnings bring . Thanksunderperformed underperformed banks underperformed. The fed decision is a big focus point at the end of the month. Yearrday, we saw the 10 bund yield dropped the most in four weeks. Edging up a basis point. Coming up, great interviews for you today. The acting managing director of the imf, david lipton at 10 a. M. London time. We begin with citigroup vowing to keep cutting cost despite managing to save more than expected. Trading revenue dropped 5 , Investment Banking slumped 10 . The chief executive says this year it aims to return 12 on tangible equity. Nancy pelosi says the house will vote on a resolution condemning President Trump for his attacks on four female lawmakers. Says the comments wont distract them from pursuing their agenda. Have beenents tweets widely condemned. If you are the leader of a great multicultural, multiracial society,
Lawmakers somewhat presumptuous. And, deep fakes. From trump to pelosi to obama to zuckerberg, no one seems to be safe from videos that are so good that you cant tell they are fake. We speak to one company who says they can. Heads of Companies Back in washington on monday. Trumps top Economic Advisor in secretary called a meeting to talk about the trade war with china. One topic stuck out, the fight with huawei and whether the ban should stand. Representatives from microsoft, intel, qualcomm, and more. What is the latest we know about this meeting . Who was there . What was discussed . The meeting was called basically to hear a view from a business perspective. We do hear a lot about the huawei fight from the hawks and the administration and on capitol hill who obviously are in favor of a total decoupling of supply chains. This is a chance for them to make their case of wife huawei should of why huawei should continue selling. The invitation list was pretty broad in terms of companies
When we saw a massive drop. Union pacific was the rail in the news this morning on corporate earnings. We will speak with lance fritz a little later on. Union pacific beating on many important metrics. Lets have a look at europe. The stoxx 600 down just 1 10 of 1 . The s p down 5. 1 after a very disappointing quarter. Its dragging on the docks as well. I mentioned a rally in global bonds. At 2. 15 10 year yields , just a few basis points above the u. S. 10 year yield. The reason for that is the ecb. We will talk about that, as well as sterling, which is rallying on some brexit news in parliament not getting any new Prime Minister a mandate to go no deal. Meanwhile, a cautious pledge to provide fiscal support if dangerous materialize. We are joined by erik nelson, Wells Fargo Securities strategist. G7 finance ministers. Can anything concrete come out given the concurrence at work among these economies right now . Good point. A i think theres so much in these individual economies that th
That is a message to Boris Johnson if he ends up prime minister. We are seeing a bond rally across europe as well, with yields lower. All over europe, but particularly the more troublesome countries like italy and spain. This on news that the ecb might start qe again and is looking at inflation targets, having a talk about whether that can be changed. We will talk about that in a few moments. Lets have a look at the u. S. Now. The s p 500 is relatively unchanged come about whats going on. Morgan stanley up 3 10 of 1 , the final of the major banks to report. We did see some buying this morning. That has leveled off a little now. All told, Morgan Stanley meeting expectations in some areas. Wealth management the outperform or. The rails index up. We will speak with lance fritz. Union pacific coming in with a great quarter, and this defined what happened yesterday with the transports really selling off on the back of csxs news. The 10 year yield in the u. S. , 2. 06 , dragged lower by euro