The premarket poised to open the at a new high as subscriber growth tops in less expectation. We will have the latest from ecb president , mario draghi as they approve austerity plans. These litigation charges at goldman. Weighing on the bottom line. First, netflix. Strong results for the Second Quarter. The company adding 3. 3 million subs. Stocks up over 11 . This is Reed Hastings last night on the companys earnings web cast. The stock was half this price. I described it as euphoric. Its a mystery to me. What we know cuss on is how to get incredible content, stream it beautifully and market it in every country. Im out of the Stock Commentary business. Maybe he should be. Stock now closing in on an 8,100 gain from the may, 2002 ip 0. It is ridiculous this is only up 11. This was the most dazzling call. When you have a chief content officer on you know you are about to get blown away. Raising numbers, narco. They are like crouching tiger, number two. They are not even in china and japa
Power lunch starts right now welcome to power lunch. Im melissa lee. All three indices are hitting record highs dow is up by 93 points s p up by 1. 5. Nasdaq adding about 9 here we should note that the strength of boeing leading the dow and accounting for 120 points, hitting an alltime high, its boeing best day since 2009 this comes on the back of very strong earnings. At t posting strong gains following positive results amazon, expedia and akamai at a low and ibm at a sixyear low. Brian . The markets and the fed are where we begin today the fed is expected to leave things unchanged how hawkish is the key for you and your money as President Trump tells the wall street journal that he hopes chair janet yellen will keep stocks low for the foreseeable future stocks once again are higher Steve Liesman following the action in d. C. And bob pisani tracking the markets at the nyse is this all about Balance Sheet reduction conversation or do rates still matter youve got that right there is a s
Of Bank Earnings. Wells fargo, j. P. Morgan, citi all beating estimates, but its not all good news from those financials. Well dig through the reports and hear what the ceos are saying. The samsung saga continues. The company saying billions more in losses are expected. And now some airlines are using fire containment bags for overheating phones. Like an airsick bag . Are you kidding me . Wheres the tsa . And honeywell ceo telling jim on mad money last night he was astounded by the Market Reaction to the companys presentation earlier this month. Well get the latest. First up, wells fargo out of the first Earnings Report since the banks unauthorized account scandal. Quarterly results beating the street despite drop in net income. In the companys Earnings Release new Ceo Tim Sloan says, quote, im deeply committed to restoring the trust of all our stakeholder including trust and shareholders community partners, we know that it will take time and a lot of hard work to earn back our reputat
Lag last years reports. What that means for the markets. Softbank buying arm holdings for 32 billion in cash. Well give you the details, some insight and context on this massive deal. Republican National Convention kicks off in cleveland. Whats on the agenda and what surprises could be in store . But first up futures on the rise to kick off the week. The dow and s p near alltime highs. Markets largely shrugging off the attempted coup in turkey and on a busy week of earnings, b of a beating on the bottom line, 36 cents versus estimates of 33. Deposits up 5. 8. Some of the metrics not matching those of its peers, jim. But still, this is a grind out quarter. Return on equity, getting double digit. What i liked best about it, really, this is kind of interesting, this is a company thats well ahead in mobile and you have an amazing decline in branches from 6,000 to 4600. Yeah. And that is because people are rapidly adopting mobile. Interesting brick and mortar story where you have still one
It all, the dax, the ftse and frances cac, all up this morning as you can see britain not, perhaps, with the uk, at least for now the uk. Maybe not that much longer. The 10year, there it is, 1. 57. Only a few weeks ago we were below 1. 4. I know. We have moved up. Oil at 44. Didnt think we would take it at 45. Inventory at 10 30 today. Lets get to the rest of our road map this morning and it start with more fireworks from the Republican National convention as we kick off day three in cleveland and carl, of course, as we said is there live. Shares of Morgan Stanley up in the premarket on earnings. We will dig into the numbers. Also ill be speaking to Ceo James Gorman later in the show this morning. And roger aisles future at fox is in question. It appears he will be leaving the network he founded after the Sexual Harassment claims. Were going to give you the latest details and what does it mean for 21st century fox, the company. But first, lets get to carl in cleveland. Carl . Hey, good