you see asml taking the most points off the stoxx 600 -- hsbc, trading places right now.ough asml had a robust earnings- report for in the third quarter and sales in the third quarter. we do see -- the stock was at a record high, basically, yesterday and some analysts, including those over at citi have said you can expect profit-taking today and indeed, that is what we are seeing now in terms of asml. you see hsbc falling as well as rio tinto, louis vuitton. anna: european equity markets, opening fairly flat this morning. we are waiting -- mindful of the violence taking place in hong kong in recent weeks and carrie lam is supposed to be speaking this morning in hong kong at the legislative building, after she delivered a pre-recorded annual policy address. it had to bp recorded because there were a couple of interruptions from protesters. it would appear -- she is appearing live in hong kong after delivering the prerecorded statement. the earnings season has been a theme in the united states and remain so in europe. let's talk about what is going on at roche. the health c

currently up 0.2 at the top of the screen, asml gaining 0.8%.h stocks to the upside with the financials we saw. santander, loyds, bnp paribas, aviva, zurich insurance. almost all the gainers with the exception of asml, daimler, sap, are financial stocks, in the top 10 at least. the bottom 10, those taking the most away from the stoxx 600. smith and nephew at the top, down 3.7% this morning. keep an eye on what's going on there with smith and nephew. looking at the other losers, danone down 1%, unilever down almost 1%. these are the defensive stocks we looked at, that are not doing terribly well, but that's not necessarily a bad sign. deutsche of own and -- wonen, one of the big property owners in germany, down as berlin decides owners are not allowed to raise rent for the next five years, stocks like that will suffer. now, boris johnson will make a renewed attempt to win parliament backing for his brexit deal. the prime minister was forced to write to the e.u. seeking a three-month delay that he clearly doesn't want, after losing a crucial vote

what is one stock in europe that may be sending the message the biggest name asml, bellwether semi hasroken out. you had two years of nothing over the last couple of weeks, along with the semis broadly acted really really well we know the data is bad, the pmis terrible. but what's prays priced in at this point and deputy to we want to say it's so bad might be good. i think the message might be get long here. >> come on over. we will bring the chair in thank you very much, will. all right. chris, banks are a big part of european indices so if you ice isolated banks does the chart look as good as the overall you're owe stock 600. >> there has been quiet yochlt the last number of months but i don't think you can say the banks are leading europe higher over the coming months or quarters europe broadly as we know is value oriented energy. a lot of energy, a lot of baepgs the u.s. banks aren't far from technical ground the european banks here if you want to make a bank call cross do to closer to home jp morgan answering acts great some of regional starting to turn i recognize today was soft

if you look at the companies gaining, asml, adding the most points to the stoxx 600.re than 1%. you also see airbus gaining this morning. you will see a lot of airline news today. for one thing, we had darren berg -- saying it was not time to take profiting airbus or boeing yet. novartis, a gainer because it is a big company. you've got a couple of big tech movers, sap and asml, the aircraft makers moving up. you got novo nordisk rising. seehe downside, you astrazeneca, b.a.t., and total, taking the most points away. royal dutch shell is a gainer, total is a loser. gainer, glaxo and astrazeneca are losers. you see a split in the groups. suisseon't see credit on this board, but look it up and the ticker is csgn@vx. credit suisse moving just higher this morning about .7%. coo hasuisse's resigned in the wake of the spying scandal that dropped with finance. the ceo has been spared. an investigation found no indication that he approved of the shadowing of the former executive that ran his wealth unit and lived next door to him. the scandal has taken on another dimension af

had better than expected numbers from asml in europe. thank you so much.et's get the bloomberg business flash. >> wework has accepted a rescue package from softbank. the deal gives the conglomerate an 80% stake in wework. the rescue values wework's parent company at less than $8 billion. it also sees the founder give away his board seat and walk away with $1.2 billion in stock. saudierg has been told aramco will push to complete its initial public offering this year by relying more on local investors. sources say the state owned oil producer is considering a formal announcement as soon as the next few weeks. it was originally slated for october 20. overseas investors pushed back at aramco's to trillion dollar valuation. boeing says kevin mccalla cook -- kevin mcallister is stepping down amid the crisis engulfing the 737 max 8 and production problems with other planes. he is the highest ranking executive to depart in the wake of crashes in a worldwide grounding. the head of boeing's global services business will replace him. that is your bloomberg business

a strong network demand helped asml that also sited new technologies saying 2019 would continue to be a, quote, growth year. in the banks space, tuesday's gains were driven by a strong start. jp morgan and more show a strain on the profits however goldman and others missed estimates firing this report >> numerous earnings course showed despite the numbers declining across the board but net income showed a decline. fixed income commodities supported the overall trading revenue thanks to a strong september. goldman sach recovered they showed to be the underperformer suffering an $80 million write down due to their investment in wework their vest revenue was soft thoe they suggested the pipelines were strong jp morgan led the pack their 8% revenue growth stood out. jamie diamond was more cautious. citi's ceo was reminiscent of how the market turned. >> consumer is in fine shape we saw the imf come out this morning. i would describe that as more of a catch up than where any of us had been 3% global growth not as high as we'd like it to be but it is still global growth >> on wednesday, mor

asml down. read has been negative for european chip makers let's bring in the specialist in technology and tech stocks i'll ask you just to read after the results we saw out of texas instruments. it sounds like the out look is pretty grim. yet, i look at the semiconductor etf. that is up 40% year to date. what is going on >> it is a disconnect between results and trends if you are going to invest well, you should probably ignore the short term noise ti is incredibly diverse even if they've given pessimistic guidance here and if it has dropped, it is probably just on the view even if the imf gives a negative view point we know the u.s. economy is holding up just fine >> the tech sector is very close to the trade war and supply chain, have you observed that many u.s. companies have modified their supply chain throughout the course and through anticipation of further tariffs and in anticipation of tariffs now that goes along with exposure to china? >> i don't think there is a sign to shift in what

we have seen expectations get a bit ahead of themselves riyadh asml reported this morning and the stock% because they just had in my numbers are you. multiple which is -- tsm is currently trading at is a fairly hefty multiple for one that normally trades in the teens. >> do you think the catch-up is complete because even a few weeks ago, we were looking at tsmc saying at these levels, underperforming since the beginning of the year compared to other semi's trading in taiwan. >> i still think there's room left. logic andmance of the foundry side of the business has performed well. it is tempered by the memory portion being weaker. we have seen some stabilization of memory pricing but there is not been a leveling there. by g handsets are doing quite well. we still have the specter of trade issues and geopolitical and microeconomic issues that are hanging over but so far, they have not been impacting the stoxx. there's a little more to run but they are getting choppy right now. >> talk to me about the yield issues you're seeing is samsung that could work to tsm's advantage. >> one of the i

intel was good land verge guided up taiwan semiconductor asml was good. these are the guys that make the equipment. generally their commentar yy wa excellent making a lot of people feel better. yes, you have autos weak data centers strong as well. there's visa, capital one. both reported very good numbers. visa gave 2020 revenue guidance for the firsttime. it was strong. i think consumer spending will be strong as well. capital one, a credit card company also said the same thing. tyler, back to you >>> thank you very much. we're just inches away from record highs on the s&p 500. we went into that territory briefly earlier today. it will be the moment of truth for the markets with the busiest earnings week of the season so far and the highly anticipated fed rate cut decision. that's coming up is the market heading for new heights. let's ask jason prides. jason, back to you after ron interrupts me and corrects me, appropriately. >> you got to get these things right. >> it's the details, jason it's the details that you have to get right i've completely lost

ones that are riding secular themes, increasing content in autos, or on the equipment side, eu, like asmlto be on the innovation side, then less of a cycle to deal with. you still have cycle to deal with, inventory in the cycle, we have to be mindful of that we like that sector long term again if focused on the innovators >> i also think of what's going on in the ipo market with tech names. you had some successes, also a lot of failures. do you think that dampens the overall environment for an investor looking for a tech company that's particularly innovative >> what it is is volatility creates opportunity. a lot of recent ipos underperformed together. there hasn't been a lot of discrimination in terms of what might still be an interesting business with a lot of opportunity. i would point to uber and lyft as examples of companies creating new industry, transportation as a service with a lot of opportunities, both those companies, uber with the uber eats delivery, and integrating meal delivery and cloud kitchens you have to sift through the rubble you'll find a lot of opportunities. i thin

semis swinging lower today after mixed earnings from asml a day after hitting all time highs. is it time to cash in on the chips? or can they resume their run your trading nation team today they've been leadership for this market for a little bit of a stretch now, do you think that can continue right here or is it time to take some profits? >> i think it has been the leadership it's also been a sign of the trade for the market. even if you get a little short term pull back in the semiconductor stocks here. i'd be a buyer of it you're above a rising 50 and 200 day average. you start looking at some of the best performing names, the five largest names represent 40% of this index, and those are all charts that look like buys i would be buying any pull backs in the semiconductor stocks. >> when you think about it, the semis have managed to perform very well. despite a lot of the noise around exposure to the chinese trade situation. as well as maybe slowdown in cloud computing architecture things like that >> i agree thatablied dips for the semiconductors i wouldn't chase the rally

asml is the biggest point to the stoxxition 600, sinking below the zero line.lso have a lot of financials. bnp paribas, banco santander, credit suisse ray moment and holding this index back from bigger losses. let's look at the losers. roche, down .6% but a big heavy stock, so roche is off as is your letter -- unilever. roche is probably a issue of competition from novartis. unilever, down in sympathy with reckitt benckiser as it cuts its forecast. markets are opening mixed slightly to the downside. westminster is still getting all the headlines today. does boris johnson have the votes to push through his brexit from and will it emerge the house of commons looking anything like the agreement he brokered with the european union in the first space? -- place? with the latest, sebastian salek is standing by at westminster. run us through the timetable of votes this week. 7:00 without second reading, this is the first chance and he's have to vote on the implementation bill that would push through the brexit deal. if that goes through, and analysis suggests we might

asml not the only one. sap, nokia, ericsson, all rising this morning.g side of the ledger, anheuser-busch, total, these big, giant stocks at the top, along with bayer, diageo. unilever, in terms of consumer staples. i suppose you could consider anheuser-busch and diageo consumer staples as well, depending on your proclivities. let's look at european markets, opening mixed this morning. anna, we see most stocks gaining, -- indexes gaining, but not by much. the cac unchanged right now. 0.3%.d ftse, up anna: sort of a flat to mixed picture, as investors await the next round of trade talks. they are set to restart in washington later this week. joining us with analysis, the head of asset allegation -- allocation. talks,ead to the trade if you could. we have seen confirmation that the talks will take place, but there are other tensions. the u.s. blacklisting chinese technology companies on human rights grounds. how optimistic are you for a deal? what kind of deal should we look to? a large, all-encompassing deal, or something narrow? >> we could expect a tru

revenue dropped by 12% and johnson & johnson raised the takes me to a little bit of asml.t's a breaking across the terminal. this is a company that makes the machines. fourth-quarter sales, that's a beat. the margins have slept and the markets have penciled in 49%. they will decide on a new share of buybacks next year. that could be the asked for the market of this morning. it might have been a little bit more hope they would go for a share buyback. as we say, equities, we are waiting for the next big peace of the jack sock. could be china data or brexit, but the earnings seated -- season started with a boost. nejra: it gave equities a lift yesterday. all of these risks coming through, let's get back to one of them. negotiations, of u.k. and eu officials are edging closer to a last-minute deal. jumped on news that a draft agreement could be reached, but once cleared, johnson has to persuade key allies amongst his own conservatives. maria tadeo joins us now from brussels. negotiations over the past 24 hours, we are hearing talks of a concept of a deal. what does that mean f