Stuffers, four names you might want to put on your list but we begin with big news of the day, boeing shares getting a pop thanks to the company firing its ceo phil he wilebeau is in chicago the details. The board of directors met over the weekend Via Conference Call and sunday night the boeing board said weve had enough of dennis muilenberg. They reached the decision sunday night to for him effective immediately. Basic at this it comes down to this a couple of things happened in the last two months that the board said weve had enough. The broken faa relationship which weve talked about and halting 737 max production, thats a a mop umtal decision boeing reached last week, one they never had before. The new ceo is the former executive chairman dave calhoun takes over as ceo and president effective january 13th whats his game plan, rebuild the faa relationship and to that end he called the head of the faa this morning and said we welcome rigorous oversight also a reset for the 737 max, t
Now people are suggesting because of the weirdo incidents, cramer called them morons the vix is leading the market because people are selling to pay for positions they were in over their head on. Wouldnt be the first time the tail wags the dog. Is it the tail or the dog the answer is yes. Guys, take it away. Have a good couple hours. Thank you this is the closing bell, everybody. The final hour of trade has everybody focused on whether were going to go back and retest the lows weve seen this week. We have sort of, but is it enough thats the question. Is is it enough for the market another big selloff. The dow was down nearly 700 points at the lows midday, but we are well off those lows right now but that could change. Stick around as bill mentioned, we have higher Interest Rates. That could be one factor sparking selling another thing to keep an eye on, the u. S. Dollar hit a twoweek high earlier in the session before it gave background. Right now we have Team Coverage of this decline
And welcome to power lunch. Im melissa lee. Stocks keep surging. New records for the s p and nasdaq and the usual suspects keep hitting fresh new highs. Corning, electronic arts, nvi nvidia, the list goes on and on. On pace for its best day since march 3rd, snap has traded over 44 million shares today. That is more than double its 30day average volume. One of the key catalysts for had monday, the surge in the price of oil. Crude hitting nearly 50 a barrel. Lets get the latest from the y nyse floor and bob pisani. Reporter and thats the key. The market in the rotation. Lets put up the board. Whats been weak throughout the year is this energy, banks and retail. Whats leading today . Energy, banks, and retail. This is what i talk about this rotation. Consumer discretionary but theyre lagging today. Take a look at sectors in 2017. Yes, tech and Consumer Discretionary but, look, banks and energy have been laggards. Theyre leading. This is why the market keeps holding up near the top. Old st
322 points. Down one and half percent. Also the same story. Its down more than 2 . They were treating from tweeting from record highs. It can all get bogged down following the revelation of a memo. It has claimed that that memo shows President Trump asking comay to take it easy. We have it covered from every angle. And Richard Goodstein they will tell us what all this means for the trump administration. We are less than an hour to the closing bell. I am Ashley Webster in for liz claman. Lets start the countdown. After weeks of ignoring every sign of trouble. They are suddenly selling off amid evidence. A damaging allegation that could derail the white houses policy agenda. You can see the losses piling up. Down as much as 354 points. Still on track for the worst day since the election. Its down 327 as we say the s p down. Down two and a quarter percent. The fear gauge which have been hovering at the lowest levels in a century so much for that. Now 1420 about 300 today. Maybe some of th
The tenyear yield up to 2. 12. Well get ism services in an hour. This is very big day. Well start with disney. Disney shares are rising precip precipitously premarket. Higher revenues at its theme park. Joining us for an exclusive interview the chairman and ceo bob iger. Great to see you. Thanks jim. Good morning. I feel like i have to do a congratulations. I think you are going to hear a lot on your conference call. Marvel franchise, parks and resorts, which were the ones that drove the earnings . Parks and resorts and Consumer Products had great quarters. All our business did. There were numbers that werent comparable. The studio had a great quarter. Last year this quarter we had frozen particularly the video. Media network side we have extra costs on espn because of the college playoffs. All our businesses had a strong quarter. From a percentage increase parks and resorts and Consumer Products led the way. How much is the tech you added, new things you put in during the down turn an