That the democrats could take not one, but both houses of congress. And im starting to think thats a major reason why stocks arent acting as well as wed expect given that so far earnings season has been pretty darn strong. Even as the dow rallied 41 points today. It is far more muted than one would expect with big rallied intraday usually giving up to selloffs in the late afternoon. Sell, sell, sell. Now, maybe the debate tonight will change things but for the first time in ages, i think its important to frame the stock market in the context of a potential democratic landslide come election day. What would it mean for the democrats to win the house, to win the senate . What would it do to the stock market . White house, senate, house of representatives. Well, first, it would most certainly elevate the more radical wing of the Democratic Party that views big business as the enemy. Think Bernie Sanders. Think elizabeth warren. So where would they do the most damage . The government inter
Ftse 100, italy, spain, all up. Looking at crude. Wti sitting at 50. 91. Lets get to that microsoft story. It is the top corporate story. Shares of the tech giant popping on better than expected quarterly results. The big driver, the cloud. The shares of the microsoft product doubling in the most recent quarter. The stock hitting an alltime high in afterhours trading breaking through a level hit at the peak of the tech bubble back in 1999. Its going to close in on a half trillion dollars again. Its great day to have ballmer on. He took a lot of flack for not turning it into something it wasnt. In hindsight, now that we have the benefit of hindsight, he kept that thing moving along. Increasing revenue. Maybe the share price didnt go all the way back. Got pretty rich himself. How much does he have left . I expect him well have him for an hour. I expect him to be in a really good mood today. Because of the stock price. Very few of us get like 4 billion richer on wake up in the morning. I
And target will discuss their thanksgiving. And new wikileaks emails give insight into the Clintons Campaign relationship with still loi c Silicon Valley. Well show to you coming up. But we begin with the Earnings Reports. Bob pa welcome, everybody. Bob, well start with you. A lot of things going on, about 30 of the s p reporting. Tales of the tape, lets go through a couple companies. Oil and gas, baker hughes big sur rice. Narrower loss than expected. They see an uptick in drilling activity in the United States. That is a big story. North america activity will modestly increase. Wow, this quur similar are to what halliburton said. Baker hughes up 4 . How about Procter Gamble . 3 organic sales growth, an amazing number. They reaffirmed full year guidance. They have fewer brands but massive scale and reach. Take a look, that is a nice move up 4 their Earnings Report. And how about United Technologies . They raised the low end of their full year guidance that was a bit of a surprise. Aer
Said there. Wti, 49. 54. You rolled your eyes. Im trying to figure out i initially thought that ge was going to sort of double down and cost average in, because now things are cheaper to buy. It looks like this is sort of if response to trian, trying to get more focused on turbines and medical imaging and the other businesses, sort of maybe offload something theyve been trying to get in in such a big way since 2007. Theyve been adding to oil and gas, right . Now theyre getting out. We dont know. Though the company picked all the wrong times to get into all the wrong businesses. I wasnt going to say that. Being a big bank, energy company, or a media company. Which makes me think they own all these what i think are valuable oil and gas assets, now its cheaper to buy them, the ones you bought for too much, you can buy them at a better price. Now they will offload some of the stuff they bought at higher prices . Put it into a partnership, spin it off. Unclear. Have you made calls on this .
A few stock standouts. Haines brand higher by more than 9 . Verasign up by 5 . Heres what else is happening at this hour. A california woman has been awarded more than 70 million in a lawsuit alleging that Johns Johnson johnson baby powder caused her cancer. Bmw will recall 136,000 vehicles over a fuel pump problem. And a recordbreaking heat continues from the planes through parts of the southwest, some areas will see temperatures up to 25 degrees warmer than normal. Meantime, we kick it off, however, with breaking news in the race for the white house. Lets get right to cnbcs eamon javers. Were getting new news here out of the fbi and relation to the investigation into secretary Hillary Clintons emails. This just breaking within the past couple of minutes here, the fbi director has sent a letter to capitol hill in regard to his own testimony about Hillary Clintons emails. I want to read you the key sentence here from the letter. He says, a letter from james comey to members of congress