With the bank of england decision not to do anything with Interest Rates. News and we have breaking with a potential deal. Beyer raising its bid for monsanto. Spurred the first deal as too low. There has been a lot of speculation about raising the bid and now it has. We will see if they come back and accept the deal. We saw a spike in the shares when these headlines came out. Came back down to some extent although still 2. 5 higher on the session. 120 twol far below dollars or 125. Seeing a rally to record levels of the dow and s p 500. The dow has been leading percentagewise. 2100 64 on the s p 500, a new intraday record. We have seen quite a streak for u. S. Stocks. We saw a gain of five Straight Days where the s p 500 has been climbing. As you can see, we are up 3 over that time. In todays session, jpmorgan helping matters. Beating estimates for banking revenue. It has been pulling up other banks. Wells fargo and citigroup will be out with the numbers tomorrow. Other finances are al
Shanghai composite index and a quarter 1 . Nicole oil prices closing below 45 a barrel. Right now 4466, up 1 penny. Lauren microsoft stock up 4 after posting betterthanexpected offense held by the companys Cloud Computing is as. Trained to Morgan Stanley and tech giant intel. We will tell you what to expect. Lauren in sports and the International Olympic committee that the ban on the table for now. The yankees keep hope alive by beating the orioles. Trained to good morning. 5 01 a. M. In new york. We welcome you to fbn am, the first look at todays markets, latest breaking news and what to expect that they had. Lauren the Republican Party formally nominated donald trump for president. Key speakers on day two of the Gop Convention. Paul ryan and the trump children. Here are the highlights from cleveland last night. What does the Democratic Party offer . What is their idea of a clean break . They are offering it to obama term brought to you by another clinton. When people tell him it can
Oil falling back after yesterdays rally and the biggest inventory draw in 17 years. Our road map begins with outrage over wells fargo. The bank settling a fraud case that said employees issued debit cards and transferred funds. Twitter shares down after a 6 drop yesterday. The Board Meeting. We will give you the details. And more fed speak sending futures lower. Shaking things up. Speaking of which, stock futures are lower. The boston fed chief saying a reasonable case can be made for hiking rates. He says low rates increase the chance of overheating the economy and that not tightening could shorten the recovery. He is a voting member, jim, and historically relatively dovish. Right. I think this is again trying to prep everybody theres a rate increase coming. Ive been saying that. Thats why the bank stocks have been acting well. We will have to talk about wells. That is the biggest. This is par for what theyre thinking about, not looking at the employment number or retail sales. No exo
Saying it is looking for at least 8 billion in a Share Offering in hong kong. It would be one of the worlds biggest ipos so far this year. Look at one day off the Public Holiday in singapore, we have got them coming back today. A much brighter session. Nerves have called a little bit in the markets, although you have seen these major markets come off their earlier highs. Getting to the ones that have come online, taiwan up by. 7 . We are seeing weakness from malaysia and singapore, which were closed mondays are the holiday. It looks like there is little bit of catchup going on in those markets. 17 ng a look at korea, up as we see up. 7 as we see samsung rebound. We do have insurers and banking stocks leading the game. It is worth noting, it is the first gain have seen on japans equity market and five sessions. Volatility, certainly a lot lower than it was during mondays session. The volatility gauge fallen by almost 6 today. Futures rise copper futures rise. Sometime in the next hour,
Coming to the waters of new york city for the first time in 96 years. We will speak to the ceo of the legendary event and the big money. Lets head to the market desk with julie hyman where she has the latest on the feeling markets and partisan jpmorgan. Julie yes, part is our needs. Because of that expectation, we are seeing a lift as jpmorgan came in ahead of lowered estimates. 5 of 1 . Up lets get to jpmorgan. We are seeing jpmorgan shares leading banks higher, leading stocks higher, up three. 2 . Here are some headlines. Net income down 6. 7 percent. Revenue down 3 , fixed income trading revenue down 13 . Equity trading down 7. 5 and earnings at Corporate Investment banks down 22 . Each was a smaller decline than had been estimated by analysts. As we have been talking about in recent days, people have been cutting their earnings estimates going into this season. For jpmorgan, no exception. That is one of the reasons why it was able to come in and beat estimates. Because of the list