World Markets Live - July 28 - CNBC Live Events

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World Markets Live - July 28

We’ll be updating you throughout the day with essential breaking news, data alerts, earnings reports and all the major market movements.

    Barclays is due to report its second quarter results at the top of the hour. The U.K. bank derives a fair amount of its revenues from its investment bank, so analysts think it could be the latest casualty of the slump in fixed income trading. Deutsche Bank saw its revenues fall 10 percent as it took a hit in its bond business, following a similar theme for the big players on Wall Street.
    Meanwhile, it appears that investors have gained confidence in banks, at least according to the credit default swaps market. The iTraxx financials index, which tracks banking CDS rates, has just fallen below the overall CDS index in Europe.
    This would imply that investors see the financial sector as a safer bet in the current environment, than their blue chip counterparts, if only marginally.
    On the equity front, European banks have clearly outperformed the rest of the market over the last 12 months. The sector got a clear boost from the U.S. presidential election last November. Hopes of higher interest rates have also helped banks, even amid a lack of volatility, which has depressed their trading incomes.
    Amazon shares dipped in after-hours trading, following an earnings number that was well short of analyst expectations.
    Quarterly income dropped by 77 percent, though revenue jumped. This comes as Amazon is investing to expand into new shopping categories and grow internationally.
    Meanwhile, Amazon CEO Jeff Bezos briefly unseated Bill Gates as the world's richest person yesterday, according to a Forbes tally. Bezos topped the rich list at $90.6 billion, when Amazon shares rose ahead of the earnings report. But Bezos later lost the title when the stock slid in an overall selloff. 

    New White House Communications Director Anthony Scaramucci has blasted members of President Trump's inner circle, in a profane rant during an interview with The New Yorker. The man in charge of improving the White House's messaging and media coverage took aim at Trump's chief of staff Reince Priebus, and chief strategist Steve Bannon using some pretty colourful language. NBC's White House correspondent Kristen Wellker reports.

    The Obamacare bill amendment has failed in the Senate by 49 votes to 51.
    Three Republican senators voted against the bill, including Senators Collins, Murkowski and McCain.
    Intel shares rose in after-hours trading after the tech group's second quarter earnings beat forecasts.  The world's largest chipmaker also raised its full-year profit guidance. It expects to see higher PC sales, while also forecasting stronger growth from new areas such AI and autonomous driving.
    Meanwhile, shares in Starbucks were tumbling in after-hours trading after the coffee chain dampened expectations for the current quarter. The company is betting on China to offset cooler growth in the U.S.
    It has agreed to buy the remaining 50 percent stake in its East China business from its joint venture partners for about $1.3 billion. This is its biggest acquisition ever.
    The president has reacted to the news the "skinny repeal" of Obamacare has failed in the Senate by 49 to 51 votes. He's not happy.
    Amazon shares dipped in after-hours trading, following an earnings number that was well short of analyst expectations. Quarterly income dropped by 77 percent, though revenue jumped.
    CNBC’s Arjun Kharpal says Amazon continued to deliver revenue growth and investment in areas where it can become a big player.
    That means Prime Now deliveries, that means video content and all the other areas it’s dipping its toes into as well. That’s where analysts saw some of the bright spots.
    And of course Cloud grew particularly well, which is a strong business for Amazon.
    French June consumer spending fell 0.8 percent month on month, worse than expected. It grew 0.9 percent in May, according to INSEE.
    The preliminary reading of French EU-harmonised inflation in July grew 0.8 percent year on year, matching forecasts and the same as June.
    Earlier this morning, the preliminary reading of Q2 GDP was released. It was seen up 0.5 percent quarter over quarter, matching forecasts and growth in Q1. Household spending grew 0.3 percent quarter over quarter.
    China will further implement more proactive and effective fiscal policy, the finance ministry has announced according to Reuters.
    The finance ministry says it will actively and steadily prevent and resolve local government debt risks and will curb increases in hidden local government debt.
    Asian shares pulled back in the overnight session after U.S. tech stocks came off record highs, according to Reuters.
    The MSCI's broadest index of Asia-Pacific shares fell around 1.1 percent, wiping out almost all of its gains for the week. 
    European markets are now open for Friday's session. The Stoxx 600 fell 0.11 percent in yesterday's session. 
    Today, it is moving lower, down 0.4 percent.
    Spanish preliminary Q2 GDP grew 0.9 percent quarter on quarter and 3.1 percent year on year, in line with expectation and improved from the previous quarter.
    July's flash EU harmonised CPI grew 1.7 percent year on year, better than forecast and up from June's 1.6 percent.
    Meanwhile, the Danish industrial confidence indicator for July improved to 5.0 points, according to the country's statistics office.
    Several European banks have reported earnings this morning. The banking sector of the Stoxx 600 is down 0.9 percent on the mixed results.
    U.K. Chancellor of the Exchequer Philip Hammond says Britain wants to avoid a cliff-edge Brexit. But, he cautioned that leaving the European Union means leaving the single market and customs union.
    Speaking to the BBC, Hammond said it is Britain and Europe's interest to have a Brexit transition process that lets economies adjust.
    Spanish firm Amadeus reports H1 net sales of 2.49 billion euros versus 2.28 billion a year ago.
    Net profit for the first half was 529.1 million euros, up from 450 million a year ago. EBITDA for the first half grew 10 .1 percent to 998.9 billion euros versus 907.1 billion euros.
    Shares in the company are down 1 percent so far in trade.
    Norway's July registered unemployment rate is 2.8 percent, according to the Labour Agency, better than the Reuters poll forecast of 2.9 percent.
    The seasonally adjusted number of unemployed and on job training is 93,124.
    South Africa reserve Bank governor Lesetja Kganyago says he believes economic growth in the second quarter will be positive, Reuters reports.
    That's a more positive message than last week when he said domestic growth prospects have deteriorated and it was unclear whether any drivers of economic growth will emerge.
    He says inflation expectations remain sticky in the upper range of 3 to 6 percent. He adds risks to inflation remain broadly balanced.
    He says the central bank cannot solve structural growth problems with monetary policy.
    Air France-KLM has reported a 6 percent rise in second quarter sales. The airline reported net profit of 367 million euros, up from 42 million euros a year prior.
    The results come a day after Air France-KLM announced a new transatlantic joint venture with Delta Airlines and Virgin Atlantic. 
    Shares are up more than 1 percent today.
    The euro is rising against the dollar as economic sentiment data rises to a 10-year high in July.
    U.S. markets are called  to open lower on Friday's session, according to future values.
    This as the S&P 500 and Nasdaq closed lower yesterday as tech stocks reversed from a record high. Investors took profits after the strong earnings from tech companies through the week.
    The Nasdaq is called 60 points lower, the Dow about 30 and the S&P down 8 points.
    We are two hours out from the open of U.S. equity trading. 
    U.S. markets are called  to open lower on Friday's session, according to future values.
    The Nasdaq is called 43 points lower, the Dow about 30 and the S&P down 10 points.
    American airlines has posted a beat on revenues and earnings per share for the second quarter.
    Revenue of $11.11 billion and an adjusted EPS of $1.92 was enough to beat the street view.
    Source: James D. Morgan
    ExxonMobil has reported earnings of 78 cents per share for the second quarter versus the 84 cents expected.
    The company posted net income of $3.35 billion compared to $1.7 billion a year earlier.
    Production fell about 1 percent to 3.9 million barrels of oil per day.
    A sign at the entrance of the ExxonMobil Lubricants Plant in Port Allen, Louisiana.
    ExxonMobil shares have fallen by more than 2 percent in premarket trade since the release.
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    Expectations between Democrats and Republicans sharply differ.

    July consumer sentiment hits 93.4, vs 93.1 estimate

    CNBCEconomists expected the July measure of consumer attitudes to fall to 93.1, according to a survey from Thomson Reuters.
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