Green shoots rhetoric. What makes it interesting going into november, the financials had already been up 30 out of the march low, plus the yield curve has, in. The yield curve has come in. It is puzzling why the banks are up so much. It has to do with the narrative of the traders and investors buying cyclical stocks on the potential for strong recovery. Guy i will cheat david i will cheat. You and i talk when we are not on television. What is going on with the yen . Abigail those are some of my favorite conversations because we can move back and forth. The yen does bring attention to itself over last year. It is up about 4 . When you have stocks at alltime highs, you have bonds at record highs, although folks will say the fed the yen is a pure play haven. Over the last year, up about 4 . Some traders might like the fact that stocks are higher, but theyre probably hedging for the possibility there could be choppiness ahead. That is true for the vix. The vix is still above 20. That is in
On. The s p 500 is still down. 9 . The nasdaq has crawled back to unchanged. The Dow Jones Industrial average, the worst performing index today, 1. 4 down. Click to move in treasuries. 63 basis points on the 10 year. A risk off move today for whatever reason. Of the headlines today is wells fargo, planning to cut thousands of jobs this year. The move may set a precedent for the Banking Industry that has been resisting layoffs. Joining us now is hanna. How many layoffs do we see from the likes of wells fargo every year . Hanna thank you for having me. Wells fargos headcount has stayed steady over the past decade, even as peers have trimmed down. Around america was 300,000 people in 2010, now around 200,000. Wells fargo is steady at about 260,000. People are expensive. Wells fargos expenses has been an issue for a long time. Vonnie primarily where well those cuts come from . Hannah there have not been any plans finalized yet, but the cuts will be broadbased. They are looking at cuts that
Us are still in the 60s and 70s still cool enough to have the window open but some of us are seeing temperatures already climbing into the 80s like airfield to 82 degrees right now concord in dublin at 76, so youre a little window time here doubt that window open letting cool air and is starting to close. This is what weve got ahead of us later on this morning into afternoon. Most of us in the 90s or triple digits today. Caulker livermore antioch triple digits for you with upper 90s and app at 99 degrees, San Francisco hot enough 82 degrees now oakland, im not expecting you to break a record today like you did yesterday, your former record being 90 for a got you at 90 today all san jose hotter than yesterdays 9597 degrees today. Im talking more details about what the afternoon will look like at your neck of the woods and when to finally expect relief from the heat still to come the rest your forecast. Back to you darya all right, thanks a lot. John the big question is how you going to
And his hope to send satellites to space from anywhere in the world. He gets a little support from another billionaire. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening from wherever you may be watching. Starting a tradeling week on a tuesday. It is a busy day this will be a big story your mystery stock right now up 20 premarket. A marylandbased biotech company. Nod moderna. Announcing they are already beginning work on trials for a possible vaccine well give you the name and news in one moment. Let us start now on a macro level. There is a lot of green on the screen state side on this tuesday. Dow futures, do you have your coffee yet 530 points thats right the dow already has some mow penti momentum coming off the swing on april 9. Also back to business in lore manhattan on the floor of the Stock Exchange a lot of restrictions but there will be women and men working on the corner of wall and broad this morning also watching oil. It is up more
Upstreaming Movie Service with a little help from americas dad and why california government is not worried about an exodus of manufacturers. A view of elon musk. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening welcome from wherever you may be watching, im Brian Sullivan thank you for starting or finishing your day with us. Solidly in the green, the dow up about 240 points that kind of move would regain about half of what we lost yesterday with the dow dropping about 400 points all the maethor averages were indeed lower maybe the stock to watch today is the one we talked about all day on monday. That is moderna. On monday, enjoying that 20 pop on the vaccine news. Late yesterday, the stock fell it ended down 10 . In part because of the report by the medical firm or research or website stat news suggesting that vaccine experts were saying that the drug trial results that moved that stock on monday simply did not provide enough data to draw any