Thethe allegation that [inaudible] has been involved in a scheme. Be talking to the german lender. Matt absolutely. Very interesting plunges yesterday across equity indexes especially in the u. S. Where we saw markets down almost 2 . The nasdaq down 2. 5 . Do you buy the debt . And here in europe at least we see futures still down although only by a little bit. 2 of 1 . 1 10 of a percent. S p futures have turned around so it looks like Equity Investors are not overly concerned or not concerned at least that the plunges in the u. S. And in brazil are warranted here in europe again today. Guy we have priced of it in yesterday but not all of it. That is what markets are reacting to. Lets look at the gmm. You can see the s p 500 move down 1. 8 2 . We recovered a little bit but we have not recovered all of it and that is significant. Other markets are following suit. The dollar is bid, the dollar index is up and the yen is up by one point 5 . The euro is down but it is trading north of 111.
The end of the session p we have been lower, we have been higher. We are up for the first day today, the currencies are rising against the dollar. Sterling earlier today down by. 7 percent or quite a rebound. A poll in the last few minutes, 43 labor, 33 percent, a gap of 10 , an increase of 1 from the conservative party versus previous p are we have that projection that it would not even when the majority. So much happening eight days ahead of the election. A week on thursday, which leads reversal data. You can see the hedge against the weaker pound versus the dollar increasing to the highest since january. Look at where we were around the brexit referendum. That is when traders were about as negative as they had ever been. That was a fact here that was record never negativity against the pound p are we are nowhere near those levels but still, volatility is increasing and sterling is certainly shocking. A nice chart. We will talk about it in a minute. A simple chart showing the spread
From the new york stock exchange, the blue chip dow and s p both closed at records today with no Major Economic reports, the optimism seems to have come from the Technology Sector which is the best performing group this year. Even after that wobbly performance we saw last week. Here are the closing numbers for this monday. The dow industrial average advanced by 144 point to close at 21,528. The nasdaq was up 87. Thats a 1. 5 gain. The s p 500 added 20 points today. Contessa . If youre a longterm investor, youre probably not complaining act the markets performance so far this year. With history as a guide, mike s santoli takes a look at what might happen in the months ahead. Reporter not quite halfway through 2017, the stock market has already returned nearly 10 . Equal to the longterm average gains for a full year. It would be a mistake to assume this means stocks are way ahead of themselves or due to stall for the next several months. It turns out the stock market only rarely produces
The border tax is dead. This was one of the Critical Issues in tax reform. This was about trying to keep tax reform revenue neutral. One of the ways was a border adjusted tax. About thisn talking 20 tax rate on Companies Domestic sales and imports. Staunch opposition to this. Paul ryan is telling republicans that border tax is dead. The question is, if thats the case, how are they going to finance tax cuts . Are they going to be just shortterm, not permanent . Otherwise, youre not going to be able to keep it. Scarlet thats the big question mark. This was predicated on replacing obamacare. Thats not forthcoming at the moment. We have bloomberg reporting that steve bannon has proposed increasing taxes on the highest earners. Perhaps thats another way of doing it. That is something paul ryan loved. Wasa a trillion dollars it supposed to raise. Try finding that somewhere else. Scarlet its a tricky one. Look under the covers. Julia we will bring you further headlines on that as we get them.
The border tax is dead. This was one of the Critical Issues in tax reform. This was about trying to keep tax reform revenue neutral. One of the ways was a border adjusted tax. About thisn talking 20 tax rate on Companies Domestic sales and imports. Staunch opposition to this. Paul ryan is telling republicans that border tax is dead. The question is, if thats the case, how are they going to finance tax cuts . Are they going to be just shortterm, not permanent . Otherwise, youre not going to be able to keep it. Scarlet thats the big question mark. This was predicated on replacing obamacare. Thats not forthcoming at the moment. We have bloomberg reporting that steve bannon has proposed increasing taxes on the highest earners. Perhaps thats another way of doing it. That is something paul ryan loved. Wasa a trillion dollars it supposed to raise. Try finding that somewhere else. Scarlet its a tricky one. Look under the covers. Julia we will bring you further headlines on that as we get them.