And also at one market in san francisco, mike isaac. Good morning to all of you. We start of course with that apple story. U. S treasury secretary jack lew with some stuff tough talk about the 14. 5 billion dollar ruling that came yesterday. The decision creates an environment of uncertainty. Our concern with European Commission action is that it is using a state aid theory to make tax law and it is doing it in a way thats retroactive and overrides National Tax Law authority in our view and we think that it undermines the environment in europe. For International Business because it creates uncertainty. It undermines the cooperation between paul ryan the House Speaker called it awful. Are you surprised to see such tough talk about a situation determined by europe . It has far reaching implications. And european leaders on the fact that its creating an environment that is not favorable for u. S. Business and perhaps even its over the top negative. For u. S. Businesses operating in europe
Dont miss our interview on the show with andrew wilson. Income also. We do have headlines from the prepared testimony of chair yelling. She says shes does not discuss Economic Outlook or rate policy, but in terms of fixed income, she writes the fed must stay vigilant of new risk to Financial Stability. The banks are considerably stronger since the crisis and to carefully monitor the impact of any rule changes. Examinations have found regional banks to be wellcapitalized. We are expecting her to field questions about the reasons why there have not been a supervisor vice chair of pointed by the Obama Administration and what might happen Going Forward in that regard. We are about 30 minutes into the trading day in the u. S. Julie so julie is a very small rally underway in u. S. Stocks. I should really call it little changed. A little higher as we go into janet yellen testimony. Energy shares are the best within the s p 500. It has been this with saw affect for oil over the past week as we
In a german newspaper interview. Durables just ahead of estimates and still looking for definitive headlines out of opec. Inventories at 10 30. Yellen back on the hill answering lawmakers questions about the banks, what shes expected to say about the troubled sector. And speaking of banks, wells fargo ceo john stumpf is forfeiting 41 million ahead of his next appearance on capitol hill tomorrow. And what should you expect as an investor . Shares of nike falling in the premarket on yesterdays earnings numbers. Whats dragging that dow component down . But first, a lot of news involving the banks today. Wells fargos john stumpf to forfeit 41 million in equity awards while the companys board investigates the banks sales practices. Deutsches john crion saying the bank did not need increase or capital interest. About an hour from now fed chair yellen will testify on Bank Supervision and regulation before a house panel on capitol hill. Of course when she starts making headlines, well try to t
Another rally on her hands. Dow futures gain 77 monastic features gaining 29 points. Nicole asia, japans nikkei at 2. 8 . And China Shanghai composite composite up 1. 4 . Lauren after shooting up another 4. 5 , oil prices are down one and three quarters today, 41. 43 a barrel. Nicole jamie dimon and jpmorgan are in focus as the Bank Releases the latest profit amid the turbulent quarter of trading. Well tell you what to expect. Lauren will also have the sports highlights including ads sports highlights including ads on nba players jerseys. How much money will separate in. Nicole 5 01 a. M. Right here in new york. Welcome to fbn am can be a first look at what is that in todays markets, the latest breaking news and what to expect a day ahead. Lauren cable workers walking off the job nearly 40,000 verizon employees included in dollars and repairman and nine Eastern States as well as washington d. C. Plan to begin a strike at 6 00 a. M. This morning. There has been little progress in negoti
The month over 12 lower as china injects over 140 billion yuan into the money markets. Berkshire hathaway has more than a 10 stake in phillips 66 despite the slide in crude prices. Hitting the motherlode, shares in any rally after the eni discovers the mediterraneans biggest gas field. Some numbers just hitting the tape. Eurozone, august inflation is unchanged from july. Cpi year on year, plus 0. 2 is what it is estimated for july. The core cpi year on year is plus 0. 9 which again is pretty much unchanged july, where it was. Plus 1 . Overall, the cpi number coming in fractionally ahead the same number for july. Lets look at the euro, 1. 12, thats what it was around the open, changed a little at trade but not significantly. Changing your attention to u. S. Futures. Last week was a week to remember for the bulls and the bears. Chinas move triggered a selloff in asian stocks. Suggesting a lower open by 1520 points. Nasdaq down 36. S p 500 down 19. Here in europe, reaction to inflation da