Alltime high extending its gain into the fourth week as investors cheered corporate earnings. According to Lpl Financial today is historically the best day o the year f stocks and it stts the best sixmonth stretch for the ma det. Toda not disappoint. The dow jones industrtrl average was up to 27,090. Theed nasdaq a 82 and the s p 500 rose 16. And as you know, earnings can often drive rallie but this move higher appeave to be d by whats not being said on all ofhose earnings conference calls. Bob pisani explains. Were coming up on the halfway part of the earnings seas one word investors are not hearing is recession. Plenty of issues out there but the u. S. Consumer which is the engine of Global Growth istill holding up. Weve been scanneding the conference calls. 32 companies have mentioned the wordsion and that along with hopes of a trade deal is the major reaso the s p is hiing record highs today. The consumerer holding up. Bank and credit card ceos in partular have painted healthy pict
I dont care if mondays blue. Tuesdays gray and wednesday too. Thursday i dont care about you. Its friday, im in love. Monday you can fall apart. Tuesday, wednesday lauren welcome to fbn a. M. Im lauren simonetti. Cheryl good morning, im cheryl casone. Lauren lets take a look at how your money is moving this friday. Dow futures gaining 223 points, could swing into positive territory on the week with just a 77 point gain today. China is removing some Foreign Ownership limits to its companies and that is seen as a positive. Cheryl lets take a look at the price of oil, shooting up overnight, a possible terrorist attack on an Iranian Oil Tanker, that tanker was 60 miles off the coast of saudi arabia, was most likely hit by missiles, according to the news agency which also reporhe you crew was unharmed. Lauren were seeing a strong promising trade negotiation thats are happening here again today. The shanghai composite gaining 1 . Cheryl we may get a brexit deal. Hope springs eternal that the
Look at how we are doing on the sector picture. It looks fairly split. To theng of a bias downside. Materials and the Energy Business look in the red. We will look at the bp share price in a moment. Financials, industrials and health care mixed. No clear picture coming through. Many of these sectors look fairly mixed. Matt we see more stocks losing than winning. Down, 250 gaining right now. If you look at the moves to the upside, you see Louis Vuitton rising, only 0. 5 . Bp up 0. 4 after putting out earnings. You see a lot of metals and minors stocks to the upside. Hsbc down 0. 75 . , a lot ofvartis drugmakers and consumer staples, Household Goods coming down. Diageo also declining. Down about 0. 4 . Lets focus on the fed ahead of tomorrows fmoc meeting. A Third Straight rate cut is expected, but the focus will be guidance aspowells far as policy to come. Powell has said the economy is in good shape, but gdp growth is expected to slow further in the Third Quarter. Peterg us now is, Pet
Make a deal. Futures lower on reports that china wants more talks before signing. The president s highly touted phase one. Plus, cash burn concerns. Wework director set to discuss two Financial Rescue options today. Facebook feud Elizabeth Warren says the social Network Takes money to promote lies and creates a fake ad to prove it. So investors trying to digest a lot of news surrounding the first phase of thattrade agreement between the u. S. And china. Market sentiment tempered by reports that beijing wants further talks before making a deal treasury secretary mnuchin was on squawk earlier this morning talked about just that. We made substantial progress last week in the negotiations. We have a fundamental agreement, it is subject to documentation and there is a lot of work to be done on that front but it includes intellectual property rights, it includes financial services, it includes currency and foreign exchange. And it also includes very significant structural issues in agricultu
Questions on anything we discussed. Any questions . I have a comment. Very impressive. As you know when i was appointed, i was asked a lot of questions about esg by the board of supervisors and the like. I did what i thought was great Due Diligence but i had talked to bill earlier about this, and i wish i had known it wasnt as gloomy as i thought. They have taken an active step forward and andrea is coming on board with your associate. More importantly, the numbers against the benchmarking. I never get the acronyms right. They are proving out it is going in the right direction in terms of our exposure. I commend you on that and hopefully we can bring the light of day on these numbers to the public. Have you shared this with anybody assigned from the Board Members . Folks at city hall who raised these questions in the past . I met with certain beneficiaries, plan members, sort of informally, but no formal presentation to city hall. We have not provided an update since the last time we h