Some fears over china trade. Retail sails topped expectations in october, climbing by 0. 3 and oil pointed to surging Global Demand in the quarter. Joining us is lindsey bell thanks for joining us. Good afternoon. We mentioned on track for three record alltime closing highs at the moment and also on track for the sixth week in a row of gains for the s p thats a remarkable run. It is absolutely a remarkable run and theres a few things that have gotten us here we have more clarity on the fed. Theyve cut for the third time and theyre willing to maintain the stance where they are right now, keeping rates where they are. The Third Quarter earnings season was very good and weve seen an easing of trade tensions while theres a little bit of uncertainty there, that could rattle the markets going into the end of the year. All things understood, the economic environment though does still feel pretty good. Lets focus on the big stories we are watching today. Kayla has details on those china trade
Im annemarie green. We begin with extraordinary testimony in the impeachment inquiry. The first public hearings detail President Trumps alleged effort to pressure ukraine to investigate joe biden. Yesterday two career diplomats, bill taylor and george kent, testified on capitol hill. Taylor said a member of his staff overheard a july phone call between President Trump and u. S. Ambassador to the eu, gordon sondland. After the call sondland told the staffer the president cared more about the investigations of the bidens than ukraine. President trump denies any knowledge of the call and said the impeachment hearings were a sham. Natalie brand is on capitol hill. Natalie, what else did we learn from yesterdays hearing . Reporter good morning. House democrats say that new revelation adds to the evidence that instructions were coming from the top, and weve also learned that staffer taylor mentioned yesterday is expected to testify behind closed doors on friday. The top u. S. Diplomat in ukr
Cnbc news lauren hurst was the first to report this story she joins us now. The attorney are prepared to expand their probe beyond the companys advertising business to its search business, people familiar with the matter tell me texas which is leading the probe announced the investigation earlier this year but so far, the investigation has centered on googles advertising business texas has issued subpoenas for materials relating to that business now other states will lead the charge in investigating Google Search and android units separately people familiar the with the matter tell me they will issue subpoenas on those businesses. The attorney general investigation is running concurrent to a doj led inquiry which google confirmed earlier this year. Lauren, just quickly, what is the implication of separating an investigation into search versus android. Reporter so the key point is they are very serious about the investigation. Its not shocking they would be curious to learn more about e
Says military cloud contract win. And Restoration Hardware surging at the open, Buffetts Berkshire hathaway revealing a new stake in the furniture retailer stocks are looking to make more history a day after the s p posted its 21st record close of the year futures up on comments from larry kudlow about progress of trade talks in china, upbeat news about the consumer adding to positive sentiment. Retail sale s rebounded in october. 3 but strip out gas, it is a miss. Strip out autos and gas, it is a miss as the threemonth average continues to slow. Jim . Look, i there is just the mixed picture keeps making it so it is bullish. It is amazing. If it were too strong, we would have to say that jay powell has they still play by jay powell there is just enough tease with trade talk i have my view on what is happening now and it is not as sanguine as what people are saying this is about farm, about ag, and it is about this is my understanding, not necessarily about soy. A lot of pork involved b
Trading lower. Apple and anike hitting fresh record highs bank of america analyst throws in towel on his cell rating. Well have more on that. Kelly. Thanks. The excitement over phase one of a trade deal has turned to confusion as china says another round of talks is necessary. Its not even a complete workday here at the white house. Theres not a lot of bodies in the building to explain exactly where all of this stands the treasury secretary is here he was on cnbc this morning explaining that there is still a lot of work left to do in phase one. Here is what he said we have a fundamental agreement. Its subject to documentation and theres a lot of work to be done on that front but it includes intellectual Property Rights and include financial services, currency and Foreign Exchange and includes very significant structural issues in agriculture. On top of significant purchases. I would describe phase one as quite substantial. There you hear from the treasury secretary hes saying theres a