Welcome to squawk alley. Im Carl Quintanilla with michelle carusocabrera, john fortt. Sara eisen has the morning off we have a vote in the house on the budget elon hi guys, the house has passed the final version of the 2018 budget, clearing the way for tax reform to be completed without any help from democrats. Now, were told that they have reached that 215 marker that they needed in order to get this passed there were at least 19 republicans that voted against this doesnt appear that any democrats supported this Minority Leader Nancy Pelosi even called this budget immoral and a raw deal now, some of the republicans who voted against this, those are expected to be protest votes over the potential elimination or capping of the state and local tax deduction, so there is still going to be a lot of really tough negotiations under way over the next few weeks as republicans hammer out the details of their tax bill. But for now, a big step forward and something that can give them some crucial
The firm cites challenges in its crop science and Consumer Health divisions. A hunger for going public. Food Takeaway Service delivery hero rises in its frankfurt stock market debut well speak live to the ceo, Niklas Ostberg on how the company will navigate a crowded marketplace. Good morning its friday. A quick look at the markets in europe were modestly higher to the tune of 1 we are set to end the month of june with the biggest monthly loss in one year off 2 for the stoxx 600 in june following four months of gains maybe all these worries about tightening weve seen. When it comes to the sectors or the markets, the ftse 100 is off by 0. 3 . The xetra dax is down 0. 1 the cac c40 is up by 0. 3 lets get to our guest, mike bell from jpmorgan do you think theres too much concern about some of the tightening by banks . I think theres been a bit not enough focus on the ecb statement and what mario draghi was saying i think they will taper. What he was emphasizing is two thin things firstly
Good morning happy friday welcome to Worldwide Exchange on cnbc. Im sara eisen im mike santoli in for wilfred frost. Its new music friday. This is what we do. Kicking off the weekend with drakes latest called signs. If that wasnt in the te teleprompt teleprompter, would know that . I would not i know this is drake. I might have guessed that. Another slide yesterday led by technology where the nasdaq closed lower by 1. 8 futures are pointing to a higher start. Futures were higher yesterday at this time. Then it all fell apart did have some pockets of strength in the session including financials dow futures up 40. S p up 4 nasdaq up 2. Lets check on the f. A. N. G. Stocks they led the selloff yesterday theyre still down fractionally in the premarket worth watching, they make up such a big portion of the market and a big important Leadership Group for the market tenyear treasury note yield, a lot of people are blaming the jump in yields for the sudden selloff in stocks. Its something weve
Plus shares of nike can climbing 6 . New science of a coming trade war. The Trump Administration reportedly near imposing new tar rifs of steel imports. Well dig into the story and the Market Movers on it. As we head into the final trading day of the month the dow and s p each on track for a 7th consecutive positive quarter nasdaq the best performer despite weakness in june also up some 14 that compares to 7 in the s p. 7. 7 for the dow. Its going to be the worse since 2010. 2010. How about that and a lot of it came recently. This week the dollar is down 2 and that was largely driven by the euro shooting higher theres this narrative that the rest of the world is coordinating and i mean the world Central Banks. The ecb, the bank of england, maybe the bank of japan but theyre coordinating the begins of an exit from super easy monetary policy. There was a lot of Central Bank Speak and that is what is being attributed to this rise in global yields that we have seen. Ten year treasury yield
Hang seng index was weaker down 0. 8 . The shanghai was flat. European equities this morning, if you want to look and see whats happening in early trade, green arrows across the board. The ftse is flat the cac is up by a half percent. The dax is up by 0. 2 . Crude oil prices which were up once again yesterday, weve seen at least six sessions in a row of gains, up to 45. 28. Here are the big stories. Good morning Tesla Ceo Elon musk tweeting again. When asked about speculation on the release date for the model 3, musk tweeted news on sunday the model 3 is teslas highly anticipated socalled affordable model. Starts at 35,000. Musk says the production version of the model 3 will be unveiled in july, but still no official release date tlaes has taken in more than 400,000 preorders for the car. James bullard is retreating further from his formerly hawkish stance on rates. He said weak data undermined the feds plan and the central bank should take a more reactionary approach, if and when it