And more. The nasdaq rally rolls on buoyed by apple which reports tonight and united ceo set to testify on capitol hill this morning. What is at stake for the carrier and the industry . First up the president s comments about considering breaking up the big banks, created a lot of buzz yesterday on wall street. Jim, the point was made he doesnt often talk about the big banks, talks a lot about community lending, but that did give the markets a bit of a scare. Was it deserved . I think that the president when hes in front of particular audiences likes to say the things that the audiences want to hear. This audience does not like the big banks, feel like what happened during the Great Recession was far too much concentration in the hands of wells fargo in the hands of jpmorgan and bank of america, but remember, those were really at the behest of the government. They were trying to make sure that everybody was able to have a bank that worked and we didnt have a collapse. So to undo it whi
Cramer, faber is off president is in wisconsin, surp positive, yields tick up on decent core ppi. Tech stocks taking a tumble. Treasury is out with its plan to loosen Bank Regulations and is the worst over for under armour . The stock having a nice bounce after the warriors take the title. First up, tech stocks looking to rebound from their worst twoday streak of the year jim looking at some of the percentage declines for fang, somewhere in the 4 to 5 range. What happened is you didnt get followthrough other than the negative apple you got a downgrade of adobe that lasted for about 30 seconds. There were no substantive calls and by the way no preannouncements that these great tech selloffs that weve had there usually is a linkedin tableau data, upgraded today by goldman. Theres something to hangon to which says tech has slowed down but we didnt get that, which made it so it was more of an air pocket than it was the beginning of some gigantic rollover. Just didnt get it i was looking fo
Their worst drop of the year helped propel the Broader Market l today. Investor attention turned to washington. Above the the testimony from atto Jeff Sessions and the Federal Reserves twoday policy meeting. More on those stories in just a moment. First, a look at the numbers. The Dow Jones Industrial average rose 92 points to 21,328. The nasdaq advanced 44. The s p 500 was up nearly 11. And with stocks at or near new highs, a new survey shows a Record Number of investors say stocks are overvalued. Bob pisani h reporter the markets are back in record territory after snapping a twoday tech slump. Beyond tech, a broader debate is emerging over whether equities overall are overvalued. Bank of america released the results of a survey today and 44 of respondents said they think the stock market is expensive. Its the highest level ever. Rougy 50 believe global profits will continue to improve. Thats good news, but it suggests the markets are vulnerable to profit weakness down the road. You m
High after reports the i. T. Company may be sold to rivals for 20 billion u. S. Dollars. An appalling and detestable liar thats what the u. S. Attorney general Jeff Sessions denies allegations he colluded with russia in a Heated Exchange with lawmakers on capitol hill. I recused myself from any investigation into the campaign for president , but i did not recuse myself from defending my honor against scurlous allegations. The london fire brigade confirms a number of people have died in the massive blaze that has engulfed a large tower block in the western part of the city. Dozens are injured the cause is unknown in my 29 years of being a firefighter ive never seen anything of this scale im very sad to confirm that there have been a number of fatalities good to see you this morning. Ill start with the breaking news from the iea, the latest monthly report on what is going on in the oil market recent weakness in Oil Demand Growth is likely to prove transitory thats what the iea is saying
Shanghai composite was down by three quarters of a percentage point. In europe, some early trading there, at this hour the bulls have their way the dax is up by 0. 6 . The cac is up almost by 1 the ftse up by 0. 4 . If you look at crude oil prices, crude was up yesterday settled above 46, this morning at 45. 87 big developing story. Londons fire commissioner says theres been a flub of fatalities in a fire that broke out overnight in a high rise apartment. Fire fighters still working to put out that blaze which quickly engulfed the 27Story Building in london. Londons mayor says question also have to be answered over the safety of those towers some residents in the building say they had been advised to stay inside in the event of a fire in another part of the building so no smoke alarms or sprinkler systems set up the fire took place on the fourth floor and spread rapidly. Someone wanted to close it down years ago this building yeah. I immediately its a fire at this point with everything