Street. Im Carl Quintanilla a strong close with buffett on squawk. Fed chair pal on the squawk tomorrow we begin with futures pointing to a sharply higher open on the twoweek rally and buffetts advice for the longterm investor despite volatility, buy equity, not bonds. Ge is planning to restate three new candidates to a streamlined board of director. And the chip war continues over qualcomm urging broadcom to engage in direct talks for a takeover deal. Buffett is one of the big stories of the deal saying Berkshire Hathaway received the new tax law. Heres what becky said earlier on squawk. We had about 100 billion of unrealized gain in equities. Now, when they are sold, you pay tax on that. And previously when the tax was 35 , we would have had a 35 billion reserve for taxes against that as a liability. That would drop to about 21 billion. So 14 billion roughly that was a reduction in the amount of tax that when we saw those securities, we will pay. It wasnt cash now, but it reduced the
Police say asouri, man was critically wounded after he shot at police. Which get down. Erik they had been tracking the he open fire. Donald trump will not apologize for comments he made about making kelly. He phoned in to deny he did anything wrong and says he has no problem with women. I have had an amazing relationship with women in business. Yousay that about a man, if say that about a man, it is a great honor area it is also a great honor when you say it about a woman. Stephanie Hillary Clinton will roll out one of the big ticket policy proposals of her campaign. A 350 billione plan to make college more affordable. We need that. A pair of suspects fired shots in is american consulate simple. News agencies say one of them was caught. No claim of responsibility. After jets arrived in turkey. Erik Frank Gifford being remembered as a star on and off the football field. He died yesterday at 84 years old. He had a hall of fame career for the new york giants. He was very call him. He was
The hang hishanghai slightly lo. In europe, green arrows across the board. The dak x is up by 0. 4 . The cac up by 0. 3 the ftse up by 0. 2 . The dollar, which has been under so much pressure, you look and you see today the dollar sup against the euro, back below 1. 20 this morning it looks like the dollar yen is at 109. 89. Check out crude oil and gasoline prices, crude Oil Yesterday at a onemonth low. Its down once again this morning at 46. 18 rbob gasoline up nearly 6 yoed yesterday to a twoyear high of 1. 82 sits at 1. 83 this morning as we quont to watch the reficontinuec those refineries shut in with the additional rainfall. Gas prices at the pump could go up to 2. 60, 2. 70 we were thinking 4 dollars was the norm even after this, its amazing that were in a different kind of and can you believe that people that supposedly know what theyre talking about said crude would go down and gasoline would go up because youre not refining as much you get a glut of crude . A scarcity they we
U. S. Equity futures at this hour have been a bit weak in the for the morning. You know what . Just the dow futures. That might have something to do with what becky is going to tell you about. The s p is actually up a point. The nasdaq is up about four. The nasdaq had some rough sledding lately. The dow is the index down today. Down about 21 points. Crude prices coming off a loss of about 5 . Wti posting the lowest close since november. Joe, i ae lewd eluded to it. Its sitting there at one price, then a totally different price. You think it has to do with the world we live in now . Absolutely. At 11 20 p. M. , oil is trading 45. 25 and the next hour 43. 76. How does that happen . Were the world is chasing alpha, when the quantitative models see an opportunity, which they see in oil, thats where all the activity is. It wasnt an overweight trader with fat fingers . No, and not pure fundamentals. Fundamentals are deteriorating for oil. It is seeing the opportunity, lowvol world. You go ar
Good tuesday morning. Welcome to squawk alley, joining me is jon fortt and sara eisen. Also joining me walter eisen and a lot to get to with walt this morning. Among it, apple, as berkshires Warren Buffett nearly triples his stake in the company to more than 19 billion. Stock hit yet another alltime high this morning. Walter, lets take a quick listen to what buffet said amid all of his mea culpas of miss in amazon and missing alphabet why he is increasing his stake in apple. The shares when we bought them were much more reasonable in relation to current earnings. Apple didnt have to do a lot better in the future than they were doing at the current time. When you get into a google or amazon, you are paying for the future more. The future may be more than justified. So, walter, here we have a very smart man who laments missing a big chapter in tech, doubling down on this one. What does that tell us . Well, it tells us that apple is a very secure, stable, good company because Warren Buffe