Exchange on cnbc. Im wilfred frost. Im seema mody in for sara eisen today. Welcome back from paris. Thank you very much. Great to be back. Great to have you alongside. Amazing to see how that French Election is still impacting marketing. Lets get straight to the market action. U. S. Futures, yesterday a big rally on wall street. Gains of 1 or more across the board for the s p 500. Dow jones aup 1. 2 . A relatively positive session in trade. Dow jones up about 40 points, nasdaq and s p also up. Financials up 3 . And it was that election result sunday night in france that led markets higher. European stocks clearly rallied more than the u. S. 4 of gains in france. 2 in london. They are holding firm today. Slight gains for the main indices. Nothing too massive compared to yesterday. The important thing is they are cementing the big gains we saw yesterday. It was also banks in europe that led the charge higher as it was in the u. S. Big moves. Socgen, Deutsche Bank up nearly 10 . Lets sum
Perception that the fed is going to be more aggressive and stocks are going up. It is also a strange world because that perception has not change between yesterday and today. Stocks moved kind of sideways yesterday and they are rallying strongly today. Major can see, all three averages are pretty much at their highs of the day. The nasdaq has been leading the way because of strength and Technology Shares today. It is a cyclically led rally today. Though sectors most formidable to an economic recovery, so another words, if the us economy is recovering enough so the fed can raise rates, that is the perception driving stocks higher today. Making new highs gradually, just a gradual trend upward as it is up by 1. 3 . Software stocks have been doing well with and technology. Microsoft leading the way after upgrading shares to outperform at callan. Traders overreacted to the companys last trading report, but things are not going poorly at microsoft. Adobe in Electronic Arts are also on the ri
Plus, donald trump saying brexit draws parallels with his agenda. Back home, questions are being raised about his campaigns lack of funding. A senior trump adviser is with me on sunday morning futures. Global Financial Markets plunging after Great Britains historic vote on friday to part ways with the European Union. For many, a big reason to celebrate. Some probrexit law makers even calling it the uks independence day, but the results shocking investigators. Dow jones close down more than 600 points on friday, closing at the lows of the day. Sparking fears of a worldwide economic slowdown that could last months, could could end up being a global recession. How much will britains decision affect us here at home . Joining us is mohamed el erian, former pimco ceo. Pleasure to see you. Thanks for joining us. Thank you, maria. A sharp reaction to the brexit on friday with markets down across the board. Let me kick it off right there. Do you think the selling continues when markets reopen t
Johnson, who expressed concerns over Mass Immigration into britain, was booed and called names by angry voters as he left his london home this morning. We can pass our laws and set our [ indiscernible ] entirely according to the needs of the uk economy. We can control our own borders in a way that is not discriminatory but fair and balanced. Reporter britains decision to leave the eu is already being felt here and around the world. The british pound was down to a 30year low against the dollar following the news. Back in april, president obama said brexit would put any future usuk trade deals in jeopardy. Because our focus is in negotiating with a big bloc of the European Union to get a trade agreement done and uks gonna be in the back of the queue [ sarcastic tone of voice ] reporter britain has been part of the block since joining 43 years ago but formally separating wont be easy. The process will take at least two years. The Global Financial markets are volatile but britains finance
Ukrai ukraine. There is a lot of back and forth between these two companies. Hell join us at the end of the hour. Wouldnt want to minimize clearly whats happening over there but certainly at this point at least its had a minimal effect on the market. Even though it has made investors nervous, it has had an overwhelming effect. People, quite frankly, arent here. Theyre heading on to vacation. Do you know how your funding is doing this year against its benchmark . Any one whos given Fund Managers their money. Well have details. On september 9th, and the invites are out and they wish they could say more but our friends are saying more than this just wont and new iphone but the longawaited apple watch will be available as well. Im already wishing we could say more. There is always a double intention. About an hour to go until the close. Dow was off more than 100 points at the session open, now off 44. The s p down about three to 1,996. Joining our krsh exchange now, Heather Hughes from sun