Point trading range from top to bottom. Sglefr single trading day this year as youve said. Incredible were up 261 points. We should remind everybody in case you missed it this morning or some hugh a historic day. European central bank decides it will launch quantities taitz difference easing. Japan was first back in 2001. The u. S. Followed suit. Now its europes turn. The baton is being passed and markets are rewarding it. Say with us for a closing bell exclusive, david mckay in his first interview since becoming ceo. Much to speak with him about. Of course moved today by the European Central bank. Also canadas surprise rate cut yesterday. And they make a huge acquisition. National city bank today. He will tell us about it and their plans for the u. S. Denmark cut overnight by the way. Another surprise rate cut. Exactly. They have to respond. Its a cascade. A race to the bottom as it were. And when it has a gate at the end of it you know its big. And the nfls deflategate is now hit thi
Tenyear yields around 1. 84. The euro on track for its worst month in two years, below 1. 12. More on that in a moment. Road map begins with u. P. S. Shares down sharply in premarket trade, after cutting guidance around the Holiday Season. Fedex down in sympathy. Mcdonalds shares rising in premark on the companys first samestore sales growth in the United States since 2013. And starbucks, record fiscal First Quarter results, in line with estimates. Chairman and Ceo Howard Schultz is going to join us exclusively on cnbc in the next hour. U. P. S. Probably the freshest news, jim, cutting its guidance, citing undere inging underperformance underperformance. Theyre calling volatility on certain days wider than others and expenses caught up with them. Yeah. I found this disturbing. They spent a fortune trying to get the Holiday Season right last year and they failed. And now they spent a fortune trying to get it right this year and they failed. So management is in question here. I just thin
Here. That ipo pricing at 14 last night. But right now you cannot get it for that price because you can see there its up to almost 24 bucks on the session. A huge move day one for the Cloud Company despite vocal skeptics. Theyre questioning their profitability. This feels like the debates we were having back in the 90s during the dotcom boom. Im not saying thats the case here, but off booming ipo with people wonder wrg is the money right now. Another bombshell from the president s tax plan. President obama wants to challenge College Change i should say College Savings plans known as 529s so the gains would be taxed as regular income. Right now they are taxedfree as you know as long as the money is used for a childs college education. The president says these plans only help rich people not the middle class and we will put it to the test coming up on todays closing bell. This was all part of the state of the union. Making Free Community college. We have heard jeb bush and others say it
Thank you becky one of the key Decision Makers now defending a decision to launch a program. The launch had now been moved in the right direction and said Market Reaction was encouraging thus far and next big question a major election in greece this weekend. Back in the United States the focus is on earnings and economic data. On the agenda heres whats happening. Quarterly results from General Electric and mcdonalds before the bell but two data points coming up at 10 00 eastern time. Existing home sales and leading economic indicators. Stock futures at this hour dow opening up 5 points higher. S p 500. Nasdaq up about a point. Now to todays top stories. Succession in audi arabwe saudi arabia. Brother to brother. These are the sons of the original king of saudi arabia. The unspoken question is what is next for saudi arabia. Is this the last brother. Yes it is. King salman. Hes a half brother. Hes 70. Hes in his 70s. Thats pretty young at this point. I know that now. When we were talking
Yuck it is on the way. That means its going to give us some trouble on the roads. We will have more on that in this busy hour. Meanwhile, we start with a shot across the bow of American Parents saving for college. Sue, fill us in bl. Thats indeed the case, and it is a big shocker for a lot of people out there. President obama proposing major changes to those 529 College Savings plans. John harwood is in washington to explain why and get to him in just a moment. First we get to sharon eperson with some of the details on that. Hi, sue. The changes are of interest of millions of families whose College Savings strategy could be affected. The 529 plans, both College Savings plans and prepaid tuition plans, have grown sharply in the past decade. There are over 12 million accounts in circulation with an estimated 240 billion in total assets at the end of last were. Thats according to strategic insight. Now, about seven million families have 529 plans, and they find the most attractive for thi