Chowing down on chipotle as the restaurant chain claims further into record territory. Aim melissa lee coming to you live from studio b on the desk, tim seymour and julie beal we start with the two letters that might mean more for the market than anything the fed does, ai the s p closing friday with solid gains climbing back towards the 5100 mark posting its best week since last november the nasdaq doing better up over 4 since monday and the dow ending a second straight week in the green. Those gains come as a slew of Economic Data should have spooked investors. The feds favored inflation gauge staying sticky Commodity Prices on the rise with crude, brent, and copper all higher but all that could not put a damper on the Artificial Intelligence parade. Alphabet surging to a record high after showing progress in its ai ambitions microsoft also climbing as ai boosted its cloud sales and nvidia, the poster child of the business jumping more than 6 today as it appears to be the beneficiary
Im looking at the downside of the euro when it comes to sterling, down by 2 . The tech selling down by. 2 . David it is time for the morning brief. Will, Emmanuel Macron deliver a speech. He will propose reforms to the eurozone. This afternoon, janet yellen will deliver remarks at the in abe meeting in cleveland. At 1 45, President Trump will hold a joint News Conference with Mariano Rivera at the white house rose garden. We expectl, those after 4 15 this afternoon people later, trump will be traveling to new york. There will be a part of this rollout of a tax reform package. Running us with more is marty schenker. Program. Ack to the i want to start with marty. The president has put his priority, texas. We have three tweets. They are about the nfl, the nfl in the nfl. How does that fit together . Marty it fits together with the message that trump wants to project to his base. He is going on the stump. We have north korea threatening war. We have an entire travel ban that is in place.
That is what ive been hearing. Lets look at the risk off tone in europe that is being hit the hardest. We are now at eight straight down days and have not seen that kind of streak since 2014, the dax hit particularly hard. A bit of a safe haven bid as far as bund yields. That does not feel like a risk off move in bunds. The dollaryen down 6 10 of 1 . The bloomberg Commodity Index down 3 10 of 1 . Not just oil and copper, the base metals across the board hurt. David now we turn to emma chandra. Emma Senate Republican leaders may have made tax reform a little more complicated. They decided to add repeal of the obamacare individual mandate to their tax package to help them meet the fiscal target but will change the vote calculations in the senate and house. Twice the senate tried and failed this year. The russians have agreed to restructure more than in venezuelan debt. The Credit Rating firm declared venezuela and its state oil company to be in default after missing payments. In zimbabwe
Good day, everybody. Welcome to power lunch. Im Tyler Mathisen. Stocks are mixed right now. Very slight gain for the s p 500. A little more for the nasdaq. The dow is off, ever so slightly, by about 6 points. Lets check out oil, getting hit hard with wti trading at its lowest level in a month, off nearly 2 at 51. 15. Melissa . Hi, everybody. Im melissa lee. Adp blowing job expectations out of the water. Announcing 290,000 jobs were added last month, far exceeding the 190,000 expected. Pimco announcing a new Management Structure for its total return etf. Current management remains in place for Pimcos Total Return Fund and President Trump is talking infrastructure at the white house. Later in the day, the president will meet with conservative leaders to Talk Health Care as well. A very busy two hours coming your way. Brian sullivan is with us from houston. Whats on tap . Tyler opened the door and im going to walk right through. He talked about oils decline. Were back in the low 50s, well
From thelso hear former ecb president. Europes Economic Performance under the microscope. Looking at how costly of brexit could be for investors. And the latest on from versus clinton. Lets started off with the rush into Government Bonds winding no reversing today. Where we are with prominent investors and where we might be going. Was here, which brings the question if we are with heading into negative territory in the u. S. . We are seeing record lows, as. Ou say to fea everybody is buying bonds. If everybody is in the same trade, the potential for disaster decides to get bigger and bigger. Bad job report, you buy treasuries. Find a safe place to park your cash until you know what is going to happen. Moving intorybody the bond market, short term paper is becoming more expensive and harder to get. Investors are being pushed out the yield curve. We have the impact on longerterm bonds. The citibank macro risk indicator, how concerned people are about where things are going short but thel