Plus the north Korea Nuclear threat. It could fire off the latest round of missiles as early as tomorrow. The u. S. Dropping in the meantime the largest nonnuclear bomb on afghanistan yesterday. The mother of all bombs targeting the Islamic State. The latest on the United States message of force to the rest of the world. Amid rising geo political tensions investors have pulled back. A rocky week for stars, all three major market gains down three days in the row. Markets are closed for the holiday today. Bellagio hotel up in flames, Las Vegas Strip shutting down after rooftop caught on fire. We have the latest there. The United Airlines problem, a man stung by a scorp own after it fell from an overhead ben. That claim says he will take legal action against the airline after detailing the extent of his injuries. Plus the drug crisis in america, las vegas becoming the first city in the country to have a vending machine filled with needles for addicts. And holiday could mean a big weekend
Good morning. Welcome to Worldwide Exchange on cnbc. Im sara eisen. Im wilfred frost. Very good morning to you from me as well. Lets check in on the global markets. After a triple digit decline yesterday and some ugly earnings from ibm after the bell. Thought it would be a big drag on the dow, especially when it was down about 6 . Dow futures are holding up. They are unchanged right now. Just barely positive. S p futures are up 5. Nasdaq futures are up 12. Broadbased selloff yesterday. What seemed to get a lot of attention was the bond market. Tenyear yield ever lower, moving to a low yesterday of 2. 16. Theres continued veracious appetite for u. S. Government debt. The word on the street yesterday, increasing concerns about a government shutdown. Remember next friday is the deadline for a spending bill. Will republicans end up passing it. Theyre on recess now . They have a few days when they come back next week. Thats one concern out there. Theres a number of them. Theres a big dip in
And spain and france. Strong gains across europe. And look at crude, which is set for weekly gains, up by 1. 25 on the week. Showing just about that gain today. We got surprising inventory builds yesterday. Traders seem to be taking in stride. The u. S. Treasury department issuing final rules to crack down on those tax inversions. Thats when a company is acquired by a smaller foreign business in a low tax country to avoid paying the higher u. S. Corporate tax rate. The new rules crack down on earnings stripping when the u. S. Subsidiary avoids taxes on domestic operations by sending them overseas as tax deductible payments. Got that . Sara eisen does. This is clearly becoming a signature issue for the treasury secretary, for this administration. And what he issued yesterday were new rules to crack down on tax avoiding companies. This earnings stripping strategy, its a common practice by inverted companies, they use the u. S. Subsidiary to issue loans from the Foreign Company that are t
Morning commute. The good news for us and for roqui is that it will be later in the commute. Higher wind speeds are farther north with sustained winds. We could see gusts 30 to 40 Miles Per Hour as the front passes through. Right now, we are seeing sustained winds pretty windy in San Francisco at 22 Miles Per Hour there. The farther north you go, we do see wind speeds in the range of 15 Miles Per Hour in santa rosa, napa, fairfield, vallejo, as well. So well keep an eye on that. We are more concerned about the gusts. We have a high surf and flood advisory for the coast. Coast stoll flood toes central flooding is possible. Its something to be mindful along the coastline today. High tides though when you see the onshore flow. We get concerned about the coastal flooding. Temperatures are relatively mild areawide. We are in the mid60s for most folks. Its light sweater weather. You will see some rain by the end of the day and definitely grab an umbrella. Hey, i dont know what they are talki
Jpmorg and citigroup all beat wall st expectations. But profits were down across the board, year over year. That was enough to lift the broader market, but not shares of all the big financial institut. D thats partly because. Uestion sti remain about the and, of course, a lot of attentn was on embattled wells fargo. Which said customer traffic at branch was down in the wake of the fake account scandal. And fewer checking accounts wer. Repor john stumpfs final quarter as ceo at wells fargo, profit dropped 2. 5 . E that the nations thi largest bank wasn all bad. Despite charges the bank opened as many as 2 million accounts with either fake or unauthorized customer information, profit was still higher than expected. And revenue rose more than 2 also, more than analysts predicte aftereffects of the sale scandal, a 185 million settle stumpfsouster, still to be felt. Sloan already looking at reduced business. The implications for our compan and on the trust of our custom are significant. Cus