With stocks and the march to dow 20k, as you know was less than a point away from making history on friday. Plus, coke and p g getting downgraded to sell this morning over at Goldman Sachs. And a busy week on capitol hill, confirmation hearings for the president elects cabinet picks are ready to get underway. First up, once again the dow will take a shot at hitting 20k. Theres a call out of goldman not helping a pair of blue chips the Firm Downgrades coke and p g to sell saying it sees headwinds from a stronger dollar as well as sluggish and market demand. Not often you get two sells on two dow components from one firm in one day. These are companies these are Great American companies. Its obvious that this is a call setting self up for much Stronger Economic growth. Now, it is the wrong time for the call because Interest Rates are down big today. So thats going to put pressure on the banks. So if were trying to get to dow 20,000, you may see on the tape in the bottom a lot of good thi
Melissa on fast money. The question is do you keep buying stocks while they are at record highs and how far can this epic rally really can . Some good questions. Lets get answers. Thank you for being here. Melissa, feel better. Please. To answer the question, yes, buy stocks now. The market is overbought and i probably would agree with that. But this feels as if it will continue to go higher. Every piece of bad news that i can think of thrown at this market and it shags it off. Goldman sachs all time high. Even health care name. You saw the bristol news earlier this afternoon. Thats back in play again. As long as the russell remains above 130. They are now both healthfully above, this rally is intact. When you think about whats going on, expectations for a fed, march rate like about 30 . Theyve gone up. The concept of a fed liking is a positive concept. Then throw the data around the world has been so much higher. The european highs, were at 69 highs on manufacturing in germany. Across
They will vote later. Investors are looking beyond obamacare, theyre looking to tax cut. Whichever way obamacare goes, they want to hear the tax cuts and the schedule stays in place. Thats the president s priority. Hes saying get on with it. Look at this. Investors like it, it was shaping up to be the worst week for stocks since the election, but we will open up this morning. This is it. No more negotiating. The vote is today. Varney company is about to begin. If you cant get phase one through, do you think phase two is going to happen or phase three is going to happen . Stuart. Stuart its you that thinks its bad policy. No, its not. Looking at things that Members Congress are looking at. I respectfully and strongly disagree with you. Stuart come to the point now ladies and gentlemen, and vote on it. It might not happen on stuart varneys timeline. Im becoming the most unpopular guy on the program. Everybody was ganging up with me because i said vote on it and get on with it. Now, Presi
U. S. Dollar versus the Canadian Dollar. Again, all of the things that have been happening with that potential trade war. Tariffs being slapped on canadian lumber. We will talk more about that in a moment. Take a look at what happened in the asian markets. The nikkei ended up by 1 . The hang seng market was up, too, up by a third of a percent. There are green arrows for most of the major markets. The cac in france is indicated up 0. 25 . The dak x is is slightly lower. If you look at crude oil prices, wti is trading below 50 a barrel. Its up 13 cents, but wti for the june contract at 49. 36. Among the other top stories, tensions with north korea on the rise. Today the country reportedly conducting a big livefire exercise. All to mark the foundation of its military. Top Trump Officials will hold a military briefing tomorrow at the white house, which will include the entire United States senate. The Trump Administration plans to impose a new tariff on canada. Wilbur ross announcing the p
Movers this morning, grow upon shares as that Company Reports a smaller Second Quarter loss and raises full year outlook. Adding more than 1 million new customers. Thats the most in two years. Stock is up by 23 and ceo will be on squawk box in an first on cnbc interview. That is at 8 40 a. M. Eastern time. Amgen tops estimates. That stock basically unchanged. Cheesecake tractfactory repg better than expected profit. Still upping stock buyback plan. Up about 1. 5 . We have more here. Groupon. Is that going to be around . We are going to talk to the ceo and i suspect he will tell you he plans to be around. It was 25, 25 dollar stock once so its up today. Is it are a real. Its a real company. I bet the 6 billion offer they got from google a few years ago is pretty good right now. Lets talk about alphabet. Google now is a verb. Its probably known in every language. Then there was another one that decided changes the name. And totally ruins years. P when you say alphabet, i know its google,