We, after kind of mixed not much going on yesterday. News of course a bit slow in some ways, european markets were open yesterday, many closed for both the christmas and boxing day holiday. You can see a mixed bag in europe, asia overnight also somewhat mixed. Lets get to the 10year note yield on crude oil and how were doing on both of those important market barometers. And you see wti down lets get to the road map this morning. It starts with the tax effect. More Companies Including barclays and shell outlining major tax linked changes to the bottom lines in the first quarter. The race is on for fed vice chair former bush era advisers reportedly in the running. Tesla t is in a direct challenging a tesla pickup could hit the road but does tesla already have model 3 problems . Stocks look to rebound from yesterdays decline. A number of companies reacting to tax reform. Barclays expects a writedown of 1. 3 billion on the annual post tax profits. Royal dutch shell sees a charge of 2. 5 bi
Reform promised by the white house was delivered on time. And now, as the wrapping continues to get ripped off, were finding out more and more about the impact of the new law. And now more companies are coming out with figures on how their bottom lines might be affected. Positively, negatively. Morgan brennan has a look. Reporter Corporate America is finally beginning to release hard numbers from the Immediate Impact to the Balance Sheet from tax reform. Insurer chubb expects a bottom line boost in 2017. Daimler and bmw, although bmw added it couldnt quantify the tax effect for 2018 just yet. These announcements coming after fedex kicked off the trend last week, saying reform could add 1. 5 billion in profit to fiscal 2018, before the bill had even become law. Were encouraged by the tax cuts and jobs act, the legislation advancing in congress at this very moment. This legislation offers pro growth, pro Business Tax Reform solutions that will power the economy, increase business investm
Winners of the year, and they are rallying a twoyearend. Yearend. G into here are some of the companies doing well in todays session. We have seen outperformance for semiconductors this year. You can see the activity we have had for some of the semiconductor makers. Here is the Philadelphia Semiconductor index in white and the rally over the past two years versus the s p 500 has been extraordinary. Even the s p has gained 31 over the twoyear period. The semiconductor gains have been pretty much trouble that. Groups doing well today include marijuana stocks, which are heading up today. The canadian have a traded stocks we watch are doing well. California is set to legalize Recreational Marijuana use on january 1. These playersid are seeking to create multinational franchises in legal marijuana. Many of these companies we use as proxies for various pot policies around the country and around the globe are pretty small, Many Canadian listed, so they tend to be quite volatile here. Are, in
While some investors like it when activists come in to shake up public companies, weve got someone who says theyre ruining corporate america. Hell make his case coming up. And the new years going to bring new business in california that would be legalized Recreational Marijuana what took them so long im surprised its taken california this long. You moving back no, i go visit family once in a while, though. Were going to introduce you to the First Company to be licensed to sell in california coming up. Lets get straight, though, to the confusion thats for sure. The confusion surrounding the tax bill as americans continue to line up to prepay their property taxes before the new rules kick in in the new year. The irs did release that memo late yesterday in an attempt to clarify who exactly can take advantage of the prepayment. But there are still plenty of questions. So we sent our guy, eric chemi, out, to look into this he joins us now from a hightax town in new yorks Westchester County
Manus europe rallied. You are welcome. It is surveillance and i am manus cranny. Rallied. Ment, europe where up on the stoxx 600. It was text and telecoms that to the heavy lifting, nothing compared to your performance in asia. Record highs in asia. You are looking at levels that you havent seen since the 1990s in japan. Technology up 50 in asia. Europe, you are seeing this growth story. It is absolutely intact. The next question are you, European Equity markets, can you sustain the growth gains that we have had the euro at around 120 . Could the euro valuation unseat the story we see here . Week,llar index, what a what a year. This is the first yearly loss since 2012 for the dollar. You are seeing another push low. You get a 3 growth rate, you get a tax reform deal, you get three hikes from the Federal Reserve and still the dollar is lower. 2 lower from here at end of 2018. The most bearish view is the dollar will be down by another 5. 5 , not everybody is so pessimistic. On the upsid