Stocks are performing right now. Lets begin with u. S. Equities. We have seen a little bit of a selloff today. S p 500 lower by 4 10 of a percent. Olivia we did get a secondquarter gdp report this morning. A little bit weaker than economist forecasted but there was an upgrade to the First Quarter. That is having a little bit of an impact on the treasury market. We will show you the yields on the short end by two or three basis points. People buying the long end of the curve there. The dollar index up about by one half of 1 . Trading at a fourmonth high on signs of the u. S. Economy. I think the recovery is continuing to affirm. Pimm economy did not contract. Lets take a look at some of the top headlines at this hour. The u. S. Economy gaining strength in the second quarter. Gdp rose to 2. 3 . That is slightly less than economist had expected but at the same time the Commerce Department to revise the First Quarter results higher and set of contracting. The economy grew 6 10 of a percent
Friday. Right now, its time for squawk on the street. Good morning, welcome to squawk on the street, im melissa lee with jim cramer and Brian Sullivan. Carl quintanilla has the day off. What we saw yesterday earthquake the best day for the s p and the nasdaq over a year. Data out to contend with, an adp number in december, jobless claims, may be taking a breather in todays session, the dow looking to lose about 33 at the open. Take a look at the picture in europe. Does also look like europe is taking a breather. Yesterday, it is worth noting the stock indices there hit 17month highs. We are seeing a down day almost across the board a road map, starts with the new years rally, where we go from here. The dow surging more than 300 points, closing at two 12 1 2m highs yesterday. Leadership from technology and financials, a boost today with upgrades. Lots in the coming days. The big jobs report tomorrow. Oh, yeah, the battle over the debt ceiling and spending cuts. Retail doordie, december
triple jumper, but most importantly, he was mark zuckerberg s college roommate. the 14th person in the world to have ever been on facebook back when it was a college. he lived in strauss hall. a couple famous people lived in emerson tlou obviously many of poorer. what a group. carl, we look forward to that, and much more from the olympic games. meantime how are we setting up in the united states on the u.s. futures? we do have a 1% gain. our road map meantime starts with the waiting game today. the question, will it or won t it deliver or hint at monetary sim lulls? could the stronger than expected adp number foreshadow a better number on friday? google delays its release of nexus q. is this a win for apple which continues its streak of gains. and is wall street going antisocial? electronics arts say social is slowing, but mobile is where it is at. so much to talk about today. but we have to start off with the markets. july going to the bulls. the dow and s&p 500 down 1%
resign, as well. how far is this investigation going to go? it is the calm before the storm today with the markets quiet ahead of auto sales this morning. jobs report friday. oil bouncing with brent back above 100 bucks a barrel. a quarterly loss for microsoft. writes down almost the entire price of acquisition. will the catalyst of windows 8 and the surface offset the strategy miss? friends again? facebook and general motors meets again. is this a start of reconciliation or a new account between the two? barclays the big story this morning. bob diamond stepped down. the resignation follows the libor probe. meantime, reports now say the cle chief operating officer may step down, as well. the coo is jerry delmeciar and conflicts reports of whether he ll stay or go and the times basically says he was briefed on the scandal and did very little to prevent it, although running out of executives to run this thing, david. yeah. i don t know. they re going to conduct a sear