Employee. And shares of under armour under a lot of pressure, a federal probe of the Accounting Practices. And wall streets record rally on the heels of both the s p and nasdaq the dow is on track for new highs at the open. Well start with that stunning news from mcdonalds, the company has fired Ceo Steve Easterbrook after he spent more than 4 1 2 years on the job. Mcdonalds says he violated Company Policy by having a consensual relationship with an employee the new ceo is Chris Kempczinski, president of mcdonalds usa in an email to employees, easterbrook admitted the relationship violated policy, saying this is a mistake, given the values of the company, i agree with the board it is time for me to move on. Already today, jim, one downgrade, piper to neutral, says changes of this magnitude tend to be disruptive. I think thats why i hate to say this, the stock was down badly on friday. I would like to know more about when and how long they have known this this is one where it is pretty
I think its going to be significant, 46,000 or 48,000 but you have the supply chain for gm, all of the construction around gm, so youve got a lot of ancillary folks that have been out of work and manufacturing isnt necessarily what drives the economy, its the consumer primarily and we are a service economy, and even though the numbers might be good, its the manufacturing thats really going tamp down here. Neil john, one one of the thins that im hearing to daniels point, not just 48 to 50,000gm striking workers impacting this but up to 200,000 more in ancillary business suppliers and the rest. What do you think of that . I think the estimate that roughly 75,000 to 80,000 jobs being temporarily lost because of gm strike. Neil okay, so if thats the case and they factored that in, is this just a oneoff, what do you think . A lot of reasons it can be a oneoff, results of slowdown at boeing, census workers who were temporarily hired and maybe are coming off the rolls, a lot of noise in the n
Around the world, from riyadh to london to new york and washington. Bloomberg voices are on the ground with all of the mornings top stories. We want to start with breaking news out of london, where the labour party says it will support a general election. Boris johnson will try for the fourth time to secure election. Joining us now is emma chandra from london. What just happened . What is the lineup today . Emma we are seeing the pound off aftergher, paring spiking higher today. Saying they will now back in early general election, saying that conditions that a new deal brexit be off the table have been met. S is key because ivan the because even though the Prime Minister is asking for a general election again today, one that requires a smaller majority than yesterday, hed still needs some opposition support for that bill to pass. We understand there will be a vote on that later today. It would set the date of a new general election. The government saying that would be to summer 12th, b
Week, the bullish sentiment reading, the Retail Investment strategy. Many think, when they get super bullish, they will go in the right direction. Aiis going south in 2016, same in 2017. Last year, pretty correlated. Right now, pretty divergent. The bullish sentiment reading at a three year low. Some would say this is a bullish sign for stocks for the rest of the fourth quarter. Metal ive got the palladium on the mind. Offing a high today writing safe haven demand. China wants more talks before president xi agrees to sign phase one of trade deal. Worries about the tightening supply of the metal are still in play. The middle has gained more than 35 year to date. Incline since a steep drop that happens in june. Taylor we know that the treasury markets are closed today but one way we will be able to look at treasury yields is to look at the futures market. It is showing us that yields still are falling a little bit. We are down to about a 161 on the 10 year. Know it has been steepening a
Youl uber, spotify is testing new lows stephanie we were just talking before we got started this market has to give you a little bit of whiplash. Were up for a second straight day but hold your breath maybe things will change tomorrow. You cant get obsessed with it you have to either have to be a long Term Investor or day trade. Very difficult at this point look trade is obsessing everyone i cant wait for earnings. Im super excited to talk about banks. Im watching technology today. Technology is 26 of the s p 500 waiting. We have gotten a couple of surveys in the last couple of days that suggest i. T. Spending is slowly. 4 this year, 3. 4 next year you have to start to be more selective in technology. Again, a big component of the s p. I still think you want to be in semis, cloud and security. You want to be very specific on software and hardware. We had a lot of calls cash coming after the close last night two days in a row of gains and almost all sectors positive both days so within