Tries to recover from yesterday. The premarket is up. Alcoa and pepsi on the tape. They continue to lean on short siders. The tenyear is up and crude is up and oil is back. The imf trimming the global and u. S. Forecast seeing World Economic growth of 3. 3 for the year. U. S. Growth seen as 2. 5 compared to a prior 3. 1 . Not a surprise echoing what the oed and others have done. You have Christine Lagarde telling our fed, guys think twice before you raise. You is want to remember they are a tough organization. There is a lot of feeling the imf must be a bunch of softies. They are very tough. They are very concerned. Merkel is the naernperson that can shut down greece more than Christine Lagarde. It confirms what people felt was behind the two days ago rally, the fed wont be tightening. When you dont talk about them you start getting a little emboldened. Not to say you like the setup. This market is not suitable for a lot of individual investors. I do think when you criminalize short se
Profits. Living the stream. Comcast testing a new service, goldman upping netflix. And walmart takes on amazons prime day as amazon takes on black friday. A deal in greece after all night meetings. They have reached an agreement to keep greece in the eurozone. A lot more to still be worked out. Its up to greece to implement and exercise the austerity measures. Austerity measures that the people voted against and are now going to get even more than they thought they were going to get the first time. This is a horrible deal for greece. This is the price to pay for staying in. I dont know if you caught the Merkel Press Conference this morning. It was at 3 00 a. M. And it was bad. Why . She just told it like it was. Said were going to give them a time out. It was financial potential fiveyear exit reentrance thats not agreed to by everybody. Its just punishment. I heard theres a big stake in greece wanting to extend the terms. I listened to a leader of a country that baseically said these g
Reports of a chinese stateowned Company Looking to buy the semiconductor giant. The deal may have a tough time getting through regulators. Could another suitor be waiting in the wings . Well find out. Wells fargo turning in a solid quarter posting a decline in Mortgage Applications this morning. John shrewsberry will join us to discuss whether he sees a slowdown in housing. We are seeing a rally in the price of oil. We are going to ask about that. What is going on with oil . I think some of this deal was priced in. We had several days of imminent announcements of a deal. When the deal came, i think everyone expected it. Also the return of barrels looks like a 2016 event. Its not a Million Barrels hitting the market tomorrow. Thats why we havent seen a bigger reaction to the iran deal today. So when do you expect to it happen and what will the price of oil do when that does occur . Its a timeline. We have basically 90 days where there is going to be debate in congress for 60 days, but a
Bit. Right now we start with vonnie quinn. Vonnie good morning. Greece has made the deadline it could not afford making payments totaling 7. 4 billion to a number of creditors including the imf and the European Central bank. Greece got a bridge loan after its parliament agreed on new austerity measures. Greek banks reopened for the first time in three weeks but there are limits on withdrawals. Angela merkel says that is one of the reasons bailout cost need to go quickly. Merkel is also suggesting greece get limited that bullies, but she will Debt Forgiveness at 30 to 40 , that cannot happen in a Currency Union. It can happen outside of Currency Union but not within a Currency Union. Vonnie the price of gold has gone to a fiveyear low, down more than 1. 5 today. Analysts say there are a number of reasons. The fed is set to boost Interest Rates today, which favors the dollar. There is a demand for gold in china. Donald trump is doubling down on his attack on john mccain or he wrote an op
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