Overnight in asia, youre going to see whats happening. Well talk more about whats happening here with the futures. Overnight in asia the nikkei down by 1 2 a percentage point the hang seng up by. 2 . The shanghai composite down by a similar amount in europe this morning with the green arrows there, youre going to take a look and see that gains across the board dax up by 1. 25 . Cac up by. 9 . Crude oil prices, take a look at that, too. Last week for the week they were down by 60 cents down this morning another 55 cents to 57. 82 for wti. You think you can keep bringing things in here and yes. Driving your yes. To thats exactly what i think. Because you can. Because i can. That definitely is i try to spread cheer. Grat grasso messaged me, imt on youre trying to create tension. You bring me like back you know remember your thumb was sore and i got you some epsom salt. And today you brought coffee. Thats a way to do it. Hes the man. Im half italian, half sicilian. That means dont cross hi
We saw nearly and the full erasing. In a Progress Report hit the tape in investors should sue abc. That is absurd wait until you hear their reasoning or their abc. All with contracting opinions about what President Trump said in Salt Lake City. Scaling back the size and scope of two monuments in their protection the largest rollback. Reducing the size of millions of acres. In grand staircases. Will i really hold or will it not evenc do that. Less than an hour to the closing bell. As we said chopped in half for the gains. Okay so we still had gained thats a good thing. Having been up more than 300 points. The s p up 22 right now. We are watching all of this. It sure is nice to see stocks bouncing back. The gains have been chopped in half. He just seems like the people saw a whole opportunity here to make some profits. Thats what you want to do. Certainly at certain points of the market highs. S p was there just five minutes ago as we look at this level we need to see it at 200647 it co
Europe up more than 1 , benchmark yields relatively stable around 1. 29 futures point to a strong open as tax reform rolls through congress. We did get the meg amerger, cvs health is buying aetna it is the largest deal. Broadcom taking First Step Towards a hostile takeover of qualcomm 11 nominees to qualcomms board. Futures rallying after the Senate Tax Reform bill was passed Early Saturday Morning. Next up is conferencing the house and Senate Versions of that bill. Republicans expressing optimism, theyll get a final bill to the president s desk by christmas and a lot written over the weekend suggests theres more similarity than differences. I think where we were midday, the report that caused one the suspension of brian ross, and a belief that nothing could happen and the senate could fail, we got a classic tip down 350 points it turned out to be once again an amazing buy opportunity and now, a lot of analysts will be stuck raising numbers i say stuck because theres so much people who
And the nasdaq tumbled 1. 05 , you need to understand this is a redistribution its not a bet on the future, its a wager that some earnings estimates are going higher while others just stay the same and judging by the intraday reversal, investors are starting to realize that we may be a little too enthusiastic about stocks in general. Even if some do deserve to be higher because of changes that are going to be made to taxes in this country today truly brought a bifurcation in stocks. The action was 100 about tax reform Domestic Companies get a big cut while more internationallyoriented Companies Like most of tech see much less of a benefit sure they can repatriate capital from overseas at a better rate, but the real benefits here are for the purely domestic players. Its Like Congress has waved the magic and with and every cable company, railroad, retailer, restaurant as well as a smattering of industrials that have great u. S. Exposure and that has radically raised earnings for 2018. No
At whatstake a look going on in to those brexit talks. The pound is up by. 2 . Stronger dollar story throughout the day and dollaryen is up to. 6 . 58 basis points. Thats really steep. Time for the morning brief. Ahead. A look at the week today theresa may is scheduled to meet with Jeanclaude Juncker. Then social democrats hold their convention. Congress has to act to avoid a Government Shutdown and we are also going to get on friday u. S. Jobs numbers. Big week ahead. Topics tax, u. K. , cvs buying aetna. The talk on the talk shows was all about taxes. Had towhat the senators say. When you heard the president say we are very close to the finish line you know he has wanted a 15 right from the beginning. Is parted to a 20 rate of the discussion. The house as a 20 right now. We are happy with both of those numbers. If something small happens in conference that gets us across the finish line we will look at it on a casebycase basis. Business tax all the way down from 35 to 20. It could be