Story here for stocks. We could look at a record close for the market the dow is up 63 but coming off its highs. Courtney reagan with stay closer look. The stocks falling a bit here as the dollar strengthens, like you mentioned, those comments from President Trump to joe kernen in davos. We have found some footing lets see what happens going into the final hour here not a repeat of what we saw yesterday when we saw this pretty fast fade around the european close time. Its the big m word thats being discussed as the main driver for this rally. Momentum thats taking equities higher there are commentaries coming out of the blue chip dow earnings, like caterpillar, and bellwether indicator like 3m we do have that phenomenon happening today. Caterpillar, 3m and Goldman Sachs helping to lift the Dow Jones Industrial average health care, materials, among the strongest sectors. And biotechs etfs, the hxb and bxi. The aerospace and Defense Group is hitting a new intraday alltime high today led
Disappoints with guidance despite a stellar Earnings Report china meanwhile puts a dent in audis forecast sending shares in parent vw lower. Theres a new word around town, the fed saying only some improvement in the labor market is now required for rates to go up. Good morning to everyone. We have so much to talk about today. Lets kick things off with earnings. European markets are rallying across the board amid a raft of corporate earnings. Lets kick things off with the bank shares of Deutsche Bank generalnys largest lender plagued by litigation costs. Investors are optimistic that john krein can set the bank on a different path. Rbs soars to the top of the ftse after the Company Posted surprise profit the statebacked lender speeding up its restructuring plans and booking a 1. 1 billion pound charge in the process. A sharp rise in Second Quarter profit. Weaker performance in the homes market is offset by better results in the uk and United States for santander. Deutsche bank everyone
And warns of further market declines next year. And ab imbef shar bshgb ind. Good morning its thursday, ecb day, the allimportant day when were hearing about the ecbs plans for tapering we have one other central bank thats come out with a report. Not just the riksbank, but also the norges bank. I want to show you whats happening to the european markets. This is how were looking. Were probably unchanged we can bring up the heat map there you go inching slightly to the upside dominated by earnings today. Banks especially theyre the biggest faller on the sector al basis lets show you how were shaping up for the trading day these are the indices. Were pretty much all in the green, only with marginal increases to the upside. The ftse 100 up by 0. 25 the xetra dax up by 0. 2 still some caution ahead of that ecb meeting and no major positioning or risk taking in the markets. I mentioned the banks, they are underperforming. Lets get to the biggest fallers when it comes to sector basis. Banks,
Is if if the president of the United States continues to call in aides and instruct them or give them leave to go out and make comments and starts exciting inconsistent with what the policy is of the administration or changing it, i think that the general is going to have to do this hes going to have to tell the president , look, mr. President , if youre going to tweet, let us know beforehand and let us take a look at it, if you will, and also folks coming into your office, when they come out of your office, if you call them in, instruct them that they will have to come by me and inform me whats been said, and hes going to have to structure this thing. I dont know whether thats going to work, but i do know that those below the general, given what he did today, i think will have gotten the message, and i think hes certainly got the possibility of imposing a new sense of discipline and order on the staff below him but were dealing with the president of the United States i mean, thats one
Unmet needs or changing courses during changing times. Yet, its a terrific part of this amazing longterm rally, including today, where the dow climbed 39 points, s p advanced 1. 2 and the nasdaq gained 0. 23 . I know this factor is underestimated because i see it every day. This morning we got a textbook example. Right now theres a widespread perception that stocks are expensive. You hear it all the time, bubble, bubble, bubble, bubble. If you did read this mornings wall street journal, you might have see a story entitled frostbitten costco is on thin ice. In this ahead of the tape al article, we see the kind of negative bias thats become so characteristic of this moment. This story says and i quote, thursdays results of course meaning this morning had the potential to disappoint, given that the stock is more richly valued than oush usual. Whats the worry here . Another month of zero samestore Sales Numbers growth or worse may make investors see the tank as half empty, rather than half