Dylan for his contributions to song writing. Welcome to closing bell. Im kelly evans. Im bill griffith. Put a smile on your face, the dow rallying off of 184 point deficit earlier today. Stocks originally under pressure over concerns about weak export data from china. We will have more on what is behind the comeback. How does it feel . To be on your own . Im like are we actually singing . I got you. I think. New ceo of wells fargo. Chief operating officer tim sloane getting elevated to the top spot. Do critics want to see more changes. We have the president and ceo of the independent Community Bankers of america joining us throughout the hour. The power of amazon, go pro shares getting hit on news that the action camera maker is having issues regarding pricing practices. A battle between donald trump and the New York Times. The paper says it wont retract the article citing groping allegations against trump. He says the claims arent true. Lets start with the sell off or what use today b
Do we call him dr. Sunshine. He likes to say dr. Realist. Allergan could be buying a it had a market cap of 90 million and theyre buying it for 1. 7 billion. All because the Bio Tech Companys progress in fighting a certain type of Liver Disease. We will look at what other companies could be takeover targets in that space because of this takeover here. We are keeping an eye on markets. The dow is up 50 . S p is up five. Nasdaq trying to participate. Lets get to our top story. Wells fargo ceos testimony on capitol hill you saw live here on cnbc. Testifying in the wake of the banks fake account scandal. Williford frost is in washington. He has been covering hearings all day today. And the hearing was far tougher for john stumpf summed up with this exchange. Have you returned one nickel of the money you earned while the scam was going on . And the board will i will take that as a no, then. Have you fired a single Senior Executive . I dont mean regional manager or branch manager. Im asking
Nationalistic rhetoric in russia. At the same time, of course, we have a top commentator talking about nuking america and yet there are some who say the russian market is too cheap to pass up. Well look at that. Well look at the investigators, the russian etf trading under the symbol rsx. Its down 23 just this year, but as youre saying, weve seen the russian market bounce back today about a 5 gain on the rtf. Well look at that. Also deja vu all over again for housing. Adjustable rate mortgages are apparently back in vogue even in this low Interest Rate environment. Very counterintuitive. Some experts warn it is a new ticking time bomb thats sure to go off in a few years when rates are inevitably likely to go higher than they are right now. Well have a full report on these new mortgages coming out right now. And so the Dow Jones Industrial average adding 180 points today. The nasdaq adding about 40, almost 1 there. Same for the s p 500 which is up 18 points. Pretty much across the board