This year. And tom lee has one of the years hire forecast yea years higher forecasts for stocks mike wilson, you had a base case but then you said bull case of 3,000 is much more likely. So you are throwing around the euphoria word and that makes some people kind of nervous about where we are sure. That was our call in 2017 as you recall, we were way out of consensus at 2700 basically calling for euphoria that we hadnt had that yet in this cycle. And so here we are, so i hope you enjoyed it because last year was pretty damn good. So the 2750 target base case is a year end target. The 3,000 bull case we think we could actually hit that in the first half because were obviously getting more momentum than expected. Not only from a market standpoint, but also the tax cuts were bigger than what we were forecasting 21 as opposed to 25 . And were getting a little chase. But i want people to understand what that is this is not a better risk reward than last year this is a worse risk reward beca
Costs. John shrewsberry jiwill join ust discuss the Lasting Impact of fake accounts scandal. Weve been following the scathing critique of bridgewater and ray dalio written in the newsletter last week jim will join us in an exculusie interview. Some of it may strurprise you. We begin with iran today the president just announcing new sanctions will be put in place against the country and decertifying the iran deal after his speech, he took questions from the press, when asked why he didnt just end the deal now, he said this well see what happens over the next short period of time. And i can do that instantaneously. I like a twostep process much better what impact could the uncertainty over the iran deal have on energy joining us to talk about that now, andy liphow, and benjamin sal salesbury. Good to see you both benjamin, just talk at the outset whether this actually does change anything with regard to policy implications, about supply and demand for energy, iran exports, anything like
Business. With a deal like this, looks like he was a good learner of all this. Well talk much more about this potential deal in just a few minutes. Immediately people are saying apple never paid for a brand, it was always its own brand. Beats, at first i didnt understand it. It was totally overpriced. My kids both have a couple of pairs. Theyre plastic. I dont know whether the sound is better. I know kids want them. I remember a couple of kids were looking at them. I wonder, are those knockoffs, are there real . Theres a cache around it. Theres the music business. Thats fledgling. Thats what apple really wants. For a couple of years, downloading itunes was growing and growing. Now its down 6 or something, yearoveryear for those tunes. I was amazed that sales of beats is like 1. 2 billion in revenue. I was thinking about that. Everybody who wants a pair has them. But they break. At least the ones my kids have had, that weve had to replace. If you drop them. 3 billion, 1. 2 billion in sa
And inflation as it considers next step and on those the beige book says, quote, employment levels improved gradually for most districts while price pressures remain subdued except for energy costs and costs of construction products. Melissa, back to you. Peter barnes, thanks so much. Well see how the market is reacting. James is on the floor of cme of the are you seeing any movement . Market is coming back a little bit. We were down 40. Now were down about 30. This is very, very muted reaction here. The market is ticking into positive territory. Spent most of the day in a very, very tight range. S p futures are trading in a range of around 1870 to 1875. This isnt going break us out of this range. Were up on the day but seeing bad data we had this morning but didnt see all the weak money yesterday that got washed out this morning. I think there is bid in the market around 1870 level and i think well probably close the day high ier. Melissa james, thank you very much. Google capital a f
And this is a Business Update tech firms are lining up to go public you could soon be buying a slice of the likes of spotify and dropbox analysts say the market for initial Public Offerings is that cold could total two hundred ninety billion dollars and twenty eighty the biggest i. P. O. Expected isnt a new fangled startup. Is Saudi Arabian oil mammoth goes ahead with its plans to sell five percent of its shares on Global Financial markets it will be the largest i. P. O. In history wealth up to one hundred billion dollars that could happen in the second half of the year what music streaming platform spotify is doing is somewhat less than an i. P. O. Its a direct listing avoiding raising capital and diluting already existing shaz spotify has already raised more than a billion dollars from private financing. In fact Many Companies are flush with private financing and dont need stock market cash right sharing company lyft just got a billion dollar injection from google parent out for that