In the wake of the tax bill, mostly passed, the dow and s p 500 are now rising. They had been wavering. The nasdaq falling as we see tech stocks under pressure but financials have been getting a list on perception the tax plan will be especially good for them. We have been watching upward momentum on the s p 500. If you look at the bloomberg, this is the ratio of the s p 500 to its 200 day moving average, trading well above that level. In terms of what percentage, by what percentage it is above the 200 day moving average, you can see by that metric, the s p is not necessarily stretched as folks figure out how much more the rally has to go. We have other related movers today. Fedex, speaking of taxes, this company says their profits will be higher than estimated as we see record holiday shipping. It is also potentially going to get more earnings as a result of tax cuts. Blackberry out with its numbers. Winning new customers from government and private firms. Their revenue coming in ahea
And amazon tops 1000. Stocks up 50 and on course for a 1 trillion sale tag. 1 trillion in sales. Yvonne a trillion dollar company, yvonne. Speaking of trillions, we saw on interesting reaction in the bond markets. Again, another day where yields the house and Senate Finally passed a tax reform package. Theaps all of this by on rumor in salem the news is affecting not only equities, but also the bond markets as well. Yvonne yes. Callsall of the extreme for yield curves to flatten, it seems like we are pushing back on that now. We are seeing a steepening here as we close 2017, betty. Reaction in the equity markets. Kind of a collective shrug. S p trading flat, and closing unchanged. Same with the nasdaq. The dow down about 30 points. Not setting up for a really recession. Of course we are waiting for the boj. Yvonne we saw a bit of a rally that petered out on wall street. Here is how we are. So on to new asia, zealand. A gross load in the third but a healthier picture than what economist
Hello and welcome to daybreak asia. Interesting to see you in singapore now. You are all over the place. The markets are all going in one direction. By oneinto the trade hour, pointing to a higher open. But show the board where we ended up on friday. Another record run. The s p above that 2500 level. The dow and nasdaq higher. That is the picture in asia right now. Focus onabout the Central Banks with the boj and the fed going into that fed meeting, still under 50 on expectations of a move in rates. The focus is on the details of this Balance Sheet unwind. Thing is interesting we are focusing on geopolitics. ,e have campaigning in germany reports that there might be a snap election in japan. Kiwi dollar,d, the that will be tethered to the outcome of this weekends election. It is to tie to call. We are counting down to the open in australia and korea. Aussie futures up 16 points. Dollar Holding Onto Gains of . 80. In japan, a Public Holiday today, a chance for markets to them over the p
Nine of the New York Stock Exchange joining us this morning, kara swisher. Kara, good morning to you. Pressure continues this morning on facebook and its role regarding russias interference in the 2016 president ial election just yesterday the social network said it shared new findings about ad sales with fbi special Counsel Robert Mueller, this as house Intelligence Ranking member adam schiff is calling for not just facebook, but google and twitter to testify to hand over new information. We are requesting more information from facebook and have received some information, but there are a lot of Unanswered Questions frankly im distressed that its taken this long to be informed that the russians had paid for at least 100,000 in ads to try to influence our electoral process. Of course, that follows revelations last week that the social Network Allowed ads to target people that expressed antis antisemitic interests do you think overall its being over or under characterized . Well, i have
The chart master sees something hulu becomes the first streaming giant to take home the fold go the first drama series how big a win . But first we start with the markets. The dow with a new record, s p with a new record and check out the leadership as the rally broadens out financials industrials, all leading the markets higher, so do you chase stocks at these levels statistics a simple as just keep buying, pete i think in some names it is in other names its more different. Whether we talk about the potential, the earnings potential, even without the curve helping them out, i think the financials are way too cheap. All we have seen in the last week or so has been 10,000, 50,000, 70,000 calls being bought in bank of america, xlf, all different names, aggressively positions, then you look over at some of the industrials, but also the materials. Paper has been very, very strong there as well. I this i the industrial names they feel stretched, so its all about how you value the multiple a