Military strength. And some signs of a not so roaring economy. Retail prices are dropping. U. S. Futures now pointing to more or less a mixed open. Shares of eli lilly are tumbling more than 5 in the free market, failing to receive fda approval for a new Rheumatoid Arthritis drug. Stocks are looking to bounce back after the dow and the s p ended the holiday shortened week with the worst day in three weeks. And retail sales slowed down for a second straight month. We have geopolitical concerns and the Vice President is sending north korea a message during his visit to south korea. While issues like that remain the president and i have great confidence that china will properly deal with north korea. But as President Trump made clear just a few short days ago, if china is unable to deal with north korea the United States and our allies will. Got the dollar today at a five month low versus the yen. People going for safety. We mentioned gold getting near within about 2 bucks almost of 1300.
Whitbread falls to the bottom of the stoxx 600 after the costa coffee owner says it expects the consumer environment to worsen in 2017. Ericsson promises to continue with cost cuts to improve profitability as the swedish firm posts a wider loss than expected in the First Quarter. We will speak to the ceo at 11 20. Good morning, everyone. Glad youre with us on street signs. One of our main stories, lvmh and its majority shareholder, arnault, are set to completely take over the Christian Dior brand. Claire is at the lvmh press conference in paris. I cant get over this 12 billion euro deal. When looking at history and how Christian Dior started selling sketches for pence back in the 20s. Yes. And this is a move that is appreciated by the market. You were talking about the performance of the stock, because it has been requesting that lvmh simplify its capital structure for a while so in a move to do that, the number one luxury Group Announced a public offer by the arnault family on Christi
Exchange on cnbc. Im wilfred frost. Im seema mody in for sara eisen today. Welcome back from paris. Thank you very much. Great to be back. Great to have you alongside. Amazing to see how that French Election is still impacting marketing. Lets get straight to the market action. U. S. Futures, yesterday a big rally on wall street. Gains of 1 or more across the board for the s p 500. Dow jones aup 1. 2 . A relatively positive session in trade. Dow jones up about 40 points, nasdaq and s p also up. Financials up 3 . And it was that election result sunday night in france that led markets higher. European stocks clearly rallied more than the u. S. 4 of gains in france. 2 in london. They are holding firm today. Slight gains for the main indices. Nothing too massive compared to yesterday. The important thing is they are cementing the big gains we saw yesterday. It was also banks in europe that led the charge higher as it was in the u. S. Big moves. Socgen, Deutsche Bank up nearly 10 . Lets sum
Case got it wrong. Nobody expected things to turn this thing this fast. The trump rally trademark is still available. Nobody patented that, copyrighted that, its still available. Arent you proud of the fact this show two days before the election, the day before the election, asked the questions over and over, if he wins, they control all houses of government, you at minimum get tax reform and less regulation, why would that be bad for the stock market . That question was asked over and over again on this show. I had to be called a jackass on twitter by a supposed colleague because i disagreed that the market would go down 1,000 points. By definition when this Insane Person with his finger on the button of the nuclear code, when he was going to be elected. We put up with a lot. We pit up with a lot to. There have been a lot of speculation about where this would all go. Lets juxtapose the wisdom of the American Public versus the elitist intellectual ruling class that permeates this entir
Complicated chemistry. Shares in actelion hit bottom of the stoxx 600 as a report suggests the swiss biotech firm is considering a deal with Johnson Johnson that would allow it to stay independent. No liftoff for lufthansa. Shares sinking lower after the german airliner faces a setback in the courts in its bid to block yet another pilots walkout. You just saw steve there. Well be crossing straight out to him now. Opecs Technical Team is said to have failed to agree to details of an oil output deal. Those reports are having a knockon effect on prices. Slightly lower. Not a huge reaction but pulling down a tad. Off shy by a percentage point. Steve people are saying the market is pricing in were not getting a deal this time. I would probably disagree with them, which is not a rare occurrence. I think the market is beautifully priced to go either way. Lets look at the recent history. Doha failure earlier this year, algiers, a degree of success in september. When the market didnt think ther