Elon musk is reportedly going, quote, absolutely hard core around head count and Cost Reduction as tesla plans for more layoffs. Lets begin with futures moving lower with the fed kicking off the twoday meeting. 4. 2 yearonyear, jim, maybe a little too low. The wall street journal this morning talking about how powell feels good about higher for longer. I still think march was weak and youre not going to get a really strong number from april. Housing, shelter, thats bad. Theres also an mcdonalds did a great graphic on squawk. Theres just this belief among people theres no controlling this thing. I think you do get control. One of the stunning things is walmart cant make any money because people are too expensive. Were in a period that people think its inflationary. That has to break. What breaks it . A recognition that we that companies cant offer what theyre offering. Lets take mcdonalds. Lengths say mcdamageds misses. Misses on earnings. Yeah. They have to say we raised the price too
When the 2 00 p. M. Deadline came and went. We will see what happens. These are happening not necessarily at this level, but all over at more campuses yesterday. South florida. You know, if you are watching, it could be any university at this point. Im not surprised to see it happening. Crazy. Everyone comes to these conclusions at the same time at every university. Very strange. Media news. Something that is easier for us to understand, i guess. This is not easy. Bob bakish is stepping down. Me merger negotiations with s skydance continue. Cbs president george cheeks and showtime Ceo Chris Mccarthy and Paramount Pictures chief Brian Robbins will be on the board. They reported 62 cents which beat estimates. We will talk more about the paramount news with rich greenfield later in the hour. To news about the Parent Company that Nbc Universal is prepared to pay 2. 5 billion a year to air a package of nba games. Warners tnt has been paying 1. 2 billion a year under the current deal, but fa
Record stock rally off to the best start, best yearly start in more than a decade. Apple addicts, billionaire share hoerlds urging the iphone maker to take action against the long term consequences of childrens smartphone overuse. Nvidia saes big bet on autonomous driving, teaming up with vw. The best start to a year since 06, closing the week at record highs and s p and nasdaq turning in the best week since december of 2016 and the street now beginning to look ahead to earnings season wells fargo coming out with results later in the week well get Inflation Numbers and retail sales and citi and Media Conference and Morgan Health care conference. You mentioned nvidia and wong going down to consumer conference tomorrow. Whats happening is an interesting opportunity, the futures are down for once. People can get in provided that the stocks themselves dont go up im talking about caterpillar, United Technologies and nvidia, they are ramping, maybe let them come in and get a chance the resea
Are a little mixed. Nasdaq is down ever so slightly but earlier, the nasdaq had also been slightly higher. Looking at another round of record highs. Hope surround tax reform and the earnings season really kicking off on friday with some of the big banks. Investors on hold, taking a breather. Highs, relative to checker sector composition, tech lower as well but one of the best sectors on the day, health care. Almost 5 tific up up for the half percent. 4. 5 . Johnson johnson up 1. 9 . Investors liking what they had to say. Retail, a bit of a mixed picture. Season, butiday urban outfitters, not so much, down 5 . That is below what they had guided two, before and we also have under armour down 4. 4 . On brandside ahead risk and i know you love charts. Check out this chart on the s p 500. This is the rsi or momentum indicator on the s p 500. When it goes below 30, that suggests the market is oversold. We saw that back in the mid90s, for the most part in between those two levels, hitting lev
Freely u. N. Trade more and u. N. Falls against the dollar. An interesting shift in the market. David they dont have to worry out it like they did. Breaking news. Continental is in talks with advisers saying it is going to explore a possible holding structure. This could be the biggest overhaul ever for this very large Auto Component maker. Tos appears to be an attempt break it up so the individual parts of the company could trade separately. They be some of the tire manufacturer could rise on the news and it is tied perhaps to the move to Autonomous Vehicles and the electric vehicles. Ag will be exploring a holding structure. Alix those are the super fancy tires. David they are very nice tires. Time for the morning brief. At 10 00 this morning Minneapolis Federal reserve chair Neel Kashkari ways in from minnesota. President trump meets with bipartisan members of the senate on immigration issues. At 1 00 tonight states auctions 24 billion in threeyear notes. Alix heres emma chandra. Th