Note from Goldman Sachs. Jpmorgan and blackrock saying they see slow market getting into equities. They see that continuing short term. Gold, gas, little change at the moment. Not the most eventful of days, but we will take it. Angie we will take it. We have to take it from the ims, saying the u. K. s decision to leave the European Union is likely to drag down growth not just in britain but around the world. It also cut its forecast for japan and was rather pessimistic on its inflation goals. The imf said it would be challenging for japan to maintain that. It would be agreed upon by japanese economists. It did forecast japan growth to 0. 3 . Yen would not really need an intervention. It would not help to boost the economy that way. It was neither you necessary nor useful. They did say japan should use abenomicsarrows of with particular attention to fiscal policy. It also pointed to wages. Attention to the wage setting process. Japan already has a pretty tight labor market. Even so, wag
With the bank of england decision not to do anything with Interest Rates. News and we have breaking with a potential deal. Beyer raising its bid for monsanto. Spurred the first deal as too low. There has been a lot of speculation about raising the bid and now it has. We will see if they come back and accept the deal. We saw a spike in the shares when these headlines came out. Came back down to some extent although still 2. 5 higher on the session. 120 twol far below dollars or 125. Seeing a rally to record levels of the dow and s p 500. The dow has been leading percentagewise. 2100 64 on the s p 500, a new intraday record. We have seen quite a streak for u. S. Stocks. We saw a gain of five Straight Days where the s p 500 has been climbing. As you can see, we are up 3 over that time. In todays session, jpmorgan helping matters. Beating estimates for banking revenue. It has been pulling up other banks. Wells fargo and citigroup will be out with the numbers tomorrow. Other finances are al
Suppliers are preparing for big orders of the iphone 7. Plus, tim cook is finishing up that big trip to india. Well have details. Catchy tune. Meanwhile, bowing inking an 11 billion deal. With the arms embargo lifted well tell you what other defense stocks could be affected by this as the president continues his affect through vietnam. A big win for bank of america and the Justice Department. Theyll no longer have to pay 1. 3 million for a countrywide mortgage stamp. Lets start with the gains for apple and its suppliers today. Bertha coombs monitoring it. Apple accounts for all of the gains that weve seen on the nasdaq 100 right now. Tim cook continues his Charm Offensive in india, the rest of asia. Analysts are getting a little less bullish. The iphone 7. That has chip stocks up. Among them is universal display. They make oled and goldman today is upgrading that stock from a buy to neutral sending those shares near a oneyear high today. Goldman thinks with some of its proprietary rese
Capitalal has changed its business and cites among other things ge capitals exit of the u. S. And consumer businesses and transformation of its funding model. You might recall during the financial crisis ges finance arm almost took the company down and since that time, it has certainly changed that this or i should say last year undertaking an aggressive plan to reduce ge capital selling over half of its assets and, indeed, since that time, it sold about 166 billion or signed 166 billion worth of deal. Now keep in mind, ge is one of four nonbank companies that have been given this systemically important financial rating. Others include aig, met life and prudential and met life is involvedn a legal battle with the fed having, of course, received a favorable ruling earlier this year by a judge who said tFederal Reserve or the government could not designate it as that. That means these companies are subject to Federal Reserve reover sight and enhanced capital rerooirmts. The fsoc voted to
Talk about fitbit. The dow turned negative in the last few minutes which make as mixed screen there this morning or this afternoon when you look at dow trading stocks we have phil flynn at cme and lori rothman at the New York Stock Exchange. Lackluster day, huh. Low volumes, trading range that pretty much sums it up. We did have exceptional stories. One on the nasdaq. We saw 43 new highs to finish out the day even though as you mentioned stocks were little changed. I think it is safe to say everybody is on fed watch. Well hear from fed chief janet yellen come friday for rate moves, like a hike, will it be june, will it be july . Everyone seems to find out more about the feds timing on that. Next story came from apple. Shares better than 1 today. There is it rumor or report that the taiwan Economic Daily news saying apple asked its suppliers to bump up shipments to 75 Million Units from the mid 60 Million Units. So that gave the companies that supply the apple part as nice pop, a nice b