House know in advance and make a statement that there would not it would not be quite as embarrassing, but all of these executives have Different Reasons for wanting to step back , wanting to distance themselves. Showing ait is message that Corporate America is increasingly uncomfortable with President Trumps rhetoric over a National Strategy national tragedy. David people was turning to single out jamie dimon. He does not have to do that now, they have shut the whole thing down. Ofgaret that is the case the Strategic Counsel, but whether you are just someone who comes to the white house once in a while, and will appear with the president at a public event, will suggest or promote or steer policy issues, the question Going Forward goes beyond these Advisory Councils and goes to whether the relationship between this president and this white house and major u. S. Ceos is now going to be permanently affected or whether this is a temporary positioning in the shortterm and a lot of that may
Docs all in the red right now. Let check in with Ramy Inocencio at the markets desk. Ramy we are now at session lows. The dow is the biggest laggard. Its 50 daylied past moving average yesterday and so we are seeing simple back. He nasdaq is down. 8 i want to show you the health of the s p path 10 sectors. It is a broad selloff across the board being led by consumer tables. Still down, number two. Energy is now the sole stand up in positive territory. Rising oil continuing into its second day. Lets take a look at some of the biggest oil movers. Schlumberger up and candor morgan up 3. 6 , its highest since the end of april. Boost,rton getting a being two and outperform and raising its price target. All of this happening because of oil, so lets look at how oil has been trading. Highs, itssion highest since november 4 or so. There is speculation ahead of Government Data that u. S. Crude inventories may have fallen by 3. 5 million barrels, so that is pushing up the price of oil. We have se
Adam the Senate Banking committee tackling reform so why after three years is dive franc still not done . We have Charlie Gasparino and Elizabeth Macdonald why theyre still dragging their feet. Right now we want to check stocks with Nicole Petallides now passed all time highs . Correct. What is not dragging its feet is the market. We had a 1,000point swing now here we are. If we would close right here right attitude take their record alltime closing how long dash high but the dow is in 2000 intraday high we have not hit that yet but we are seeing a great day on all street. Lot of this is field by ben bernanke and the fed. He said on may 22nd there is concern as they would taper but they have turned it around and they will be in to the for sale foreseeable future. Lori so the morning after the chiefs remarks so is a tapering out of the question . We are welcoming senior portfolio manager, and is to see you. Afternoon. Lori start with the fed. So many mixed messages. What do investors ne
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Tech
Asa Fitch, Elizabeth Koh, The Wall Street Journal) A year into the pandemic, the work from home world of the cloud and broader tech shift in everything from cars to consumer electronics are driving real-world economic activity in the form of skyrocketing demand for semiconductor chips. For a deeper dive on the geopolitical ramifications of increased chip manufacturing, read: The Struggle over Chips Enters a New Phase (
The Economist)
Ben Tarnoff and Moira Weigel, The New York Times) This month, social media companies made a decision with global ramifications: they banned Donald Trump from using their platforms. Two scholars argue this move was the result of decades-long organizing efforts that will continue to shape tech regardless of the occupant of the Oval Office.