Their decision as they accuse the lender of not cooperating in their probe. Our position is always to cooperate. We have robustly responded to the allegations made against us and thats going through the courts. This is the next phase of that. Egyptian stocks hit new highs as they benefit from Lower Oil Prices. In the next hour he explains how the world views his country four years on from the arab spring. Civilized which is influential to its other neighbors. This is the new egypt. Indian stocks hit a fresh record high amid on going hopes for Prime Minister modhis reforms. And coming up we speak to the finance minister of india live from davos. Well a warm welcome again to Worldwide Exchange from a very chilly davos this morning. Lets get straight o our top story. Theyre set to announce a plan to buy 50 billion euros a month when it meets later today. The report sent shares in europe and the u. S. Higher. According to the newspaper the Central Bank Bond buying will last for at least a
Eastern time and mario draghi will hold a News Conference at 8 30 eastern time. The euro we saw 1. 5 yesterday. It bounced higher at 1162 and european stocks at least at this early hour they are relatively flat at this point the dow futures are up by 35 points. Nasdaq up by 3. The ecb is the talk of the down here in davos. Larry summers, and Goldman Sacks gary cowen all sitting on stage together. Expectations of a Bond Buying Program in europe already had an effect. She points to currency and where the euro is now countries around the world are already engaged in a currency war in an effort to boost growth. Press andrew is supposed to give a press conference later today about the sex scandal hes involved in. This is what people are really talking about here. We were 100 billion a month qe. At one point, yeah. Theyre doing 50 billion euros. That was money at one time. What was that . Probably 63 or something . Yeah among the biggest questions in europe right now is the fate of greece lo
No one expects any change on rates. What will he say about the future . French markets are closed today because thats the way they do it in france. It is a 33 hour workweek. Nightent on twitter last about 1945. I cannot say enough about the Rick Atkinson book, the three volume. And then concentrate. Put it down and think about it. I read this about six months ago. George will did a great review of it. He is the only person ive ever known who can speak in paragraphs. Every time he opens his mouth moving on to Economic Data in the u. S. , it 8 30 a. M. Is the initial jobless claims, 9 45 a. M. , bloomberg and so bloomberg comfort index and earnings before the bell, wendys, dish, Liberty Media and after the bell, cbs, news a. M. , janet 930 yellen testifying today in the senate and yesterday was in the house. We will talk about that as well. We say good morning to all of you in london particularly at the london city airport. Congratulations to Maureen Maguire and all our team and bloomber
Publishing company and asked to edit an anthology of gonzo journalism, and i took the project because i wanted to talk it gonzo journalism will only seems to apply to that one writer, hunter thompson. I want to read a couple lines, and tell us what your approaches, why you go this way. Jean smit, from cincinnati ohio, you refer to her as a wrinkly, which like woman with a penchant for dressing like a , what are you doing there . I guess one of the things that happens when you try to , orr the inside of politics wall street, a lot of these basically inaccessible to broad audiences or really really difficult to sell to people if you want to talk about commercial and procedure. That one article is about the rules committee, and one of the things you have to do, i think, in order to get people interested in these topics is to turn it into a human drama. Characters ande you have to use fiction technique to characterize people so that people know that one person is a certain kind of her, and
Nikkei. Overnight in asia not good. 2 drop wrapping up what is the worst week in three years. Of course concern about china in terms of exports or lack thereof. A look at europe where we also are going to see a good amount of weakness. The follow through as you might expect from here yesterday, a day in which we saw the s p down almost 2 and the nasdaq nasdaq down 3 . Lot more than that. Yeah. Lets get to our road map this morning as you might imagine. Does start with that meltdown if you want to call it that in the markets. Stocks slide around the world. You just saw. Is this the start of a correction . The tip of the spear, jpmorgan profits disappointing. Jamie dimon confident in the american recovery. How will the banks weak results drag on the market and other financials. The flip side wells fargo profits up 14 and those shares are rising. Another bad month for sales at gap. Gap discloses a 6 drop in march samestore sales after a disappointing february. Gross margins taking a hit.