Gas prices have been going up despite oils drop. Weve got Joe Petrowski telling us what he calls a potential fear premium forming in the gasoline price. Here is a question ive been asking. Is outer space big enough for along musk and Richard Branson . Well tell you about the new satellite war brewing between these two billionaires coming up in a while here. Plus, the Commission Free trading app robin hunt has done 1 billion in transactions. How lock can it keep those trades free of fees . Well ask the founders when they join us live. Lets begin with walmart and home depot and the mixed fortunes they presented this morning. Courtney reagan joins us with that story. Its been a long and short day all at once. Walmart and home depot are dow components. Some small merchandise categories cross over. The reason for guidance updates widely. Home depot, inline enings, stronger than expected samestore sales and better spending among higher income consumers and professionals. Home improvement ret
Meantime, we are halfway into the trading day. Stocks mostly unchanged in. He s p we were talking yesterday about tax reform. Close to record highs for the major averages. A lot of euphoria. How do we get this tax plan enacted . What kind of lobbying are we going to see . Morgan stanley says this is a 2018 story when it comes to tax reform. Coming to my terminal on this side on the s p, we can see where the games gains and losses are coming from. We had a decent turnarnd this. Orning health care was one of the major leaders. Are two individual stocks i focus on this morning. When it comes to abbott labs, up [no audio] higher on gdp. Also, some centralbank action. We heard from janet yellen earlier. Rates, expecting a rate increase in december. All of this leading to a stronger dollar. Check that out. Iabsolutely will. Taylor, thank you. In our top story, wall street seems to be the big winner from trumps tax plan. The tax will cut individual as well as corporate rates. [no audio] peggy
11 15, london time. If you look at the dollar, its heading higher. Thees speculation that next head of the Federal Reserve will be hawkish. There is a little bit of concern about north korea. That also gives geopolitical risk more of an impetus. Touch,o is weakening a as investors weigh during the standoff in catalonia. That is the expectation that brexit talks are heading for a breakdown. I am also looking at gold. Lets get straight to the bloomberg first word news. Reporter north korea has warned that a Nuclear War May break out at any moment. The comments come as the u. S. And south korea began one of the largest joint naval drills in the peninsula. Un expressed that his country is a Nuclear Power and warned the entire u. S. Mainland is in range and called north korea responsible nuclear state. Brexit missions to aussels might have been flop. According to a person familiar with her teams views, Senior Administration are now losing faith. Mitch mcconnell has presented a united front,
After the auto parts supplier warns of profits and free cash flow. Mario draghi defends his easing Monetary Policy as he warns about the risk of unwinding these policies too soon the ecba president will speak in a few moments time from sintra well bring you that speech live heres the latest on the heat map across europe a lot of red on the board. The latest in Bank Consolidation is that bankia is buying banco mare nostrum bankia plans to raise capital to fund the deal. A lot of red there except for bankia Banco Popular at zero. Schaeffler cuts its profit warning. They see the 2017 adjusted eby t ebi at 11 to 12 . Stada takeover bid fails the vote was close with support for the move falling just short of the 67. 5 required. The chief executive says the shareholders decision provides a mandate for the company to press ahead independently. Lets look at sistema shares theyre slumping after a Russian Court arrested some of its assets in an ongoing legal battle with rosneft. The country is s
Election this week. Donald trump with no political experience has just won the presidency of the United States. Gary how did the markets respond . To an alltime record high. Anthony will it last . Lets ask mario gabelli. Welcome to the show. What were you thinking 2 30 in the morning wednesday . Basically i thought the notion of a unified government finally of the people would work. Number one, reform regulation. Handle the issue of taxes. Handle the issue of student debt. Handle the issue of the military, handle the issue of infrastructure. Simply stated. Take fiscal policy augment Monetary Policy and restructure the country. Anthony did you think the market would trade off violently . I called trump at 11 57 too say plets put stuff about the market in there to calm it down. I think the europeans were uncomfortable with donald trump as president so they were selling off. But you had Certain Industries that looked like they would benefit and that provided balance. And the american bank