levels. we re going to talk about that today. david asman and lauren simonetti will join us and then i m going to speak with brian deese, the top economic adviser to the president. he s meeting with the president right now post this decision from the fed. i will ask him what the president has to say, what the approach will be. all along, the president says things like this. the bottom line is this. i truly believe we made extraordinary progress but laying a new foundation for our economy. and texas politics is in the focus with dana perino co-anchor of america s newsroom and the five and kellyanne conway, author of the new have book here is the deal. it s great to have you on set here in new york. first of all, kellyanne, what is your reaction to the fed move? the president and the people representing him haven t been forthcoming with the american people. and american people have been forthcoming with him. we re hearding, they say. the shelves are bear from infant
Kudlow. Im larry kudlow. Day seven of the barbaric war on israel is now them going into gaza. Greg palkot is on the ground with the very latest. Greg, what can you tell us . Reporter hey, larry, thats pretty significant news. In the past couple hours here in the town of ashdod, about 20 miles north ovgaza, hamas rockets have been raining down on the city and luckily the israeli iron dome defense next to our position has been knocking them down. Appears no damage. For the past 24 hours weve seen the strongest set of air strikes by the ziti really air force by hamas militant targets inside gaza. 750 in the last 24 hours and, yes, as you note maybe the biggest story of the night, Israeli Defense forces saying small units, commando units have been going in on the ground into gaza and clashing with hamas militants going in and most significantly theyve been looking for any traces of the hostages there or of any dead bodies brought from the carnage in southern israel back into gaza. Thats so
Bank of america, saying they expected benefit from higher Interest Rates and a lower Corporate Tax rate. Brian moynihan says that pretax earnings rose year on year. There is what it is doing, up by 3 10 of a percent. Not Much Movement either way. Allison is joining us. Surface this looks like a pretty solid report. Walk us through it. Allison still going through the numbers, but so far so good. Trading is a number we always look at, a little bit better. Fixed income is a little better, equities a little better, in banking they had a oneoff charge. David who do we think that might be . 880 million driven by a single name, nonus commercial chargeoff. David South African maybe . Alix steinhoff . Allison and i guess the surprising thing would be if you did not see it. Alix it is exposure i think. Allison we were joking the other day, the term episodic, but that is a better term than a oneoff or not occurring, because it is the cost of doing business. David the other thing we do not see is
And the spanish bond market, 1. 67 is how you print on the 10 year and a good rally in the ibex up 1. 5 . Highlighted dollaryen because japanese stocks are at the highest level since 1996. Crude i wanted to highlight as well, up 4 10 of 1 . They boosted Oil Demand Estimates as the Global Economy we hear that from all of the Major Players in the oil space. They do see less call on their crude. Actually, sequentially higher their crude, 32 Million Barrels this year, 33 Million Barrels next year. David it is time for the morning brief. We will hear from imf managing director Christine Lagarde speaking at the annual Membership Meeting of the institute of International Finance at 10 00 a. M. Then we will get minutes from the federal open Market Committee meeting at 2 00. At 2 40 we will hear from San Francisco fed president john williams, speaking in salt lake city. President trump will go to harrisburg, pennsylvania today to address tax reform at 5 45 eastern time. There is news in europe.
Colombia where he will likely field questions about the russia investigation. Thats live as soon as it begins. Now, my exclusive interview with bank of america ceo, find out what Brian Moynihan of 21st Century Glass stegal may not be as bad. Thats coming up. Unrolling Net Neutrality rules, the Michael Powell tells us why this is the right move in a first on cnbc interview. But, we begin with a very Good Exchange between steven mnuchin. Ylan has the story. Reporter it was testy. This was mnuchin mnuchs first testifying. Most of the conversation was focused on financial regulation. It is also met he has to face senator warren. Now, mnuchin said in the testimony that he does not support a return to glasssteagall saying that that would cause significant problems for financial markets, the economy, and liquidity. But on the campaign trail, President Trump said he supportings a 21st century version of glasssteagall. Today, senator warren tried to press him on exactly what that means. To get