What happened in your christmas household . It was wonderful. At with my sister. And best gifts . You know, the usual what is the best gift that we could get, you know sf what is t best we could do at this point is that appropriate for Morning Television i got socks socks are good. I got some very thoughtful sweatpants i got some sweatpants how thoughtful could sweat pants be they were very comfortable. Did you get new yoga wear lululemon, yeah see, i knew that i was going to get you that, but i knew someone else would. We cant just all keep repeating. Okay. Anyway, im Andrew Ross Sorkin joe kernen is here, melissa lee is here. Becky happily has the day off. A quick look at futures. We have the dow looking like it would open down. A few days where we talk about things opening or at least looking like they will open in the red. Right now dow would be down about 32 points. Nasdaq off about 7 1 2 s p 500 off or rather up margma marginally bitcoin is rising, recovering from a selloff last
Commodity trading. Lots of damage to report in the new york city area, more than 50 homes were destroyed by fire last night in breezy point queens. Just east of cone any islands, more than 170 firefighters were on the scene. And separately more than 200 patients were evacuated last night from new york universitys Medical Center after power went out. Patients some on respirators operating on Battery Power were taken to other hospitals. And check this video out. A crane on this luxury high rise building, thats under construction, topping over on 57th street, the 90 Story Building looks over central park. Luxury apartments telling for tens of millions of dollars. The crane could be seen blowing in the wind for most of the night and officials there trying to figure out how to get that down eventually. To find out how much rain and wind sandy will be packing and where its heading next, jen carfagno has the forecast. Between morning. So we are still dealing with central winds of 65 miles an
Slowed. Nat dak off by 1. 5 . Last week, a pretty good week for the markets, dow was up by 66 points for the week. Nasdaq was up by 1. 4 . If you look overnight in asia, nikkei, 0. 4 . And kospi up 0. 34 . Markets in Mainland China were closed. The european equities, the dax is off. Off by 0. 4 . Market is flat in france and london as well. A couple other big stories were watching today. Weve got a lot. On the economic calendar, the ism. Auto sales. Tomorrow, factory orders and the paychecks Small Business jobs index comes out. Wednesday, the adp employment record, ism Services Reports and fed minutes. Thursday, weekly jobless claims, friday, wholesale trade numbers and march jobs report. There are a few names of earnings this week, monsanto, walgreens, boots alliance, young china, beth, bath and beyond and constellation. And on the wall street journal, trio of fed officials speaking today. Bill dudley holds a press briefly at 10 30. Philly president Patrick Harker speaking about finte
Mike is here to talk about what this means. Mike, what comes next . 14 months without a new high. Whats going on now is of course you had yields globally suppressed and that helped the sectors support the market we talked about over the past few months. Now the question is what happens now. We have the earnings recession in the process of ending so you have the more cyclical sectors and the question is do we rotate or have a broader move higher . Last year the doubts were over it and it wasnt a broad based rally. How different is that this time around . Almost entirely different in the sense that last year it was the sexiest Growth Stocks taking over the world that were leading us there and now its the most boring stuff and its basically just these and to me the question is whether the stuff in the middle the industrial stocks, the consumer disgres nary stocks that have had their kind of quite bear markets can come back on the back of a rebound in earnings. Although the biggest winners
The dow and s p closing at new highs for 2016 and what stood out was an outperformance in tech and financials. Salesforce, action vision, metlife, bancorp, they lead us higher. What say you . I will say this. Earnings expectations have been beaten down so much in tech and i say to you if theres any shed of light whatsoever those that have, you know, that are beating have been rewarded by it as far as guidance is concerned. Look to guidance. If guidance is better. Companies are getting rewarded for that and youll see that in the performance of names and i look at the semis and they have been beaten down so much. Mike ron is a name trading up after hours, a stock thats washed out and i say its probably taking a look at on the buy side. Bar is low for financials. Terrible on financials, and i think at this point its worth at least taking notes so ive said a handful of times even in the last few weeks im not a buyer for financials because i think they are cheap and not because they are goi