Good tuesday morning, welcome to squawk alley. We are at post nine on an incredibly busy news day. First it was tech ceo, then law marks, now wrapping up a meeting with pharma executives. Meg has the latest from that meeting. Pharma stocks are in the green after this meeting. Trump strikes a more balanced done. He said that prices need to be brought down, be he also talked about streamlining approval. U. S. Drug companies have produced Extraordinary Results for our country but the pricing as been astronomical for our country. We need to do better. New drugs have lead to longer and healthier lives, but we have to do better accelerating cures. Were forced and accelerating approvals. Trump talked a lot about accelerating the fda process. All of the leaders at this meeting today are all in the green. Trump also saying he is close to appointing an fda commissioner who he is very happy about. A lot of the companies around the table are trying to stabilize the investment theyre making in the
Is down by just. 10 . A road map develops for what could be a very, very good day in technology. Hear what Steve Ballmer has to say. The mini ipad is out. More trouble at best buy, a Major Management shakedown. And is cramer going to call this the come back story of the quarter . And could it keep the ceo off the hot seat . We begin today of course with microsoft officially unv l unveiling its the secret staging area microsoft uses to lae out its Retail Stores nationwide, we talked to Steve Ballmer about pcs versus tablets. You asked me whats going to happen to the pc market and the tablet market. We cant tell them apart. But with one arrow, we have if you will gotten two birds, tablet and pc, but we dont want to let any of the innovation surface of that not be exploited. Thats the only statement were making. What do you think its going to do . Because if theres so much hoopla about windows 8 a year ago. Its a dividend play, its a utility, its a little more spark. The company itself, t
anticipate what the company is recording and then set the stock trade. let s look at where we stand right now. the dow jones about 172 points, the lou closer to 200, scotty. nasdaq also under pressure. down 1.25%. the s&p down 19 points, that s 1.5%. investors taking their cues from weak earnings guidance from big names like ups. the company saying uncertainty in the u.s., code for the fiscal cliff, is to blame along with europe and asia and there is fears of slow growth ahead. so what will turn this market around? that gdp usual will a market mover, let s go to steve leisman, rick santelli, dan greenhouse. we re talking apple and netflix earnings after the bell. how important are the apple numbers to the overall health of tech and the market here as we don t e continue to see so much uncertainty and risk adversity. lit kal, and they will blow the doors off of earnings this afternoon with about $10.35 and revenues going through the rough. you thinks in going to blow t
wall street. a complete comeback from the lows of the day, down 12 points on the lows of the session. nasdaq composites finishes up positive reversing all of the losses of the press conference, and the s&p down around break even, a fractional loss. let s get reaction of our panel. we have david rosenberg, and jeff cox. i want to kick this off with you, how are the markets interpreting the decision today? nullly as no news. a lot of the statement and action was widely amendmented. there was no additional liquidity provided to the market so the reaction is muted. he had to extend operation twist, if he didn t, it would have been seen as a tightening. basically what i said is the market is looking for a new paradigm. there was very little in today s statement that provided any hint as to the changes of the fed s position. david, you say bernanke doesn t have any support from another round of qe, congress welcome or democrats, how do you get there. well, you have seen w
the year. investors widely anticipating a down gragrade of spanish banks. walmart earnings, same store sale, guidance sole wlid. is t solid. will the walmex scan dedal be material to earnings. insiders upping the amount of shares on facebook they re unloading tomorrow. is this a sign to stay away. fresh numbers out of spain confirm that country is in recessions as reports say bankia has lost a billion in deposits this week. and jpmorgan s bad trade reportedly it getting worse according to the new york time times . how does the bank unwind its position? walmart posting first quarter profits of $1.09 a share. same store sales rising helped by warm weather and an earlier easter. so its conference call, mike duke addressed the mexican bribery scan dell. allegations from last month saying we take compliance with the practices act very seriously and continue to strengthen our and itity corruption programs around the world. the investigation is ongoing and we re working agg