Of its creditors, including the imf and the European Central bank did greece got a alone last week after parliament agreed on new austerity measures. In the meantime, great thanks reopened for the first time in three weeks,. There are still limits on withdrawals overseas. Merkel is suggesting that greece cant get limited debt relief. She ruled out a haircut on greek debt. A classic haircut of Debt Forgiveness of 30 cannot happen in the currency union. It may happen outside, but not within. Erik they may consider lower Interest Rates on greek debt but extending the time for repayment. The United Nations Security Council is expected to endorse the Iran Nuclear Deal today. It is to stop iran from Building Nuclear weapons and the United States and other world powers will gradually lift economic sanctions. Ashton carter travel to israel to reassure officials there about the iran deal. Carter acknowledged he will probably not be able to change anybodys mind. Obviously, we believe that the nu
Lets take a quick look at the markets after a long weekend not after a long weekend. A week. Nasdaq up 25 points and the s p up. A longer weekend than usual. It was longer for me because i wasnt here friday. Here are the big stories. Greek banks reopening three weeks after they close. Capital controls remain in place including limits on withdrawals and no word yet on when the stock market might reopen. Although some are trying to play this with the etf and trades here. Increases in value and a tax agreed to on the new bailout terms have now taken effect on things like coffee and tea. Well hear more from Michelle Carusocabrera pulling double duty. Lets take a look at asia. It was another volatile session. The shanghai stocks closing higher. But closed up just shy of 1 . There have been a media report earlier in the session suggesting the government was studying how to end its bailout. Well continue to watch the ongoing volatility in china. Every day there seems to be a new story there.
Stanley. Gold falls to a fiveyear low while the dollar hits a threemonth high, well look at the Drivers Behind the moves and the impact. And ebay and papal begin trading as independent companies today. Well talk with the e bay ceo later on. First up Morgan Stanley better Second Quarter results. A Strong Performance in the brokerage business. Long lines in greece over night as the banks reopen after about three weeks. Some capital controls. You can access your safety deposit box. You cannot cash a check. You can deposit and there are limits on the number of euros you can take out. Morgan stanley, trading is the story this time after Wealth Management has been the story there. Lets compare this. For fixed income morguen stanley had a gain of 30 . Jpmorgan minus 10. For equities plus 28. Goldman plus 24. Citi minus 1. Some people are saying the liquid ratios arent enough. That was the wrap on the story about why it was up 41. 5 and then people turned it down. This has been a phenomenon of
A new plan to revamp them expected to be announced this week by president ial candidate Hillary Clinton. Cnbc chief washington correspondent john harwood is in d. C. Now with details. Reporter mandy, Hillary Clintons beginning to lay out all of the components of her Economic Program to try to relink middle class incomes with the profits of Corporate America. Last week she talked about a plan to link employee tax policy or employer tax policy toward Profit Sharing with employers. Now shes trying to encourage longterm investment. I just want to go back to the history of Capital Gains rates to illustrate what shes the system that shes trying to tweak. Back in 1986 when Ronald Reagan was president , we had a tax reform plan. The Capital Gains and top marginal income tax rates were the same 28 . Then when you move to the bill clinton balanced budget deal in 1997 you had the top income tax rate up to 39. 6 . The top Capital Gains rate had gone down. So they brought back the separation betwee
That conference. A lot of optimism there. And well discuss why hundreds of millions of dollars are going into Alzheimers Research it still may not be enough to make any real progress. Also along musk discussing the latest spacex rocket failure right now. Well bring you the latest headlines soon as we get them. We start with our closing bell exchange. The major averages are in record territory. Territory. Mr. Willis whats moving this market today . This is another one of those days where we are hitting singles. No home runs but enough to put us over the top for the s p and the nasdaq in record territory today. The big cap, particularly the nasdaq are the story. Inside that story, you need to take a look at some of the rotation that we are seeing. Still taking profits out of the russell 2000. Some of the Health Care Stocks seeing profittaking. We are seeing money rotate into the consumer discretionary, particularly the restaurants strong today. Chinese stocks trade here also showing stre