What it means for you and the markets. A big day for earnings. Some major movers ahead of the open will set the tone for this trading day. Well dig in on a lot of the big reports. And one name with a big earnings move is twitter. Shares up nearly 10 right now. Take a look at the eye popping numbers. First up though the president set to unveil his proposed tax law changes today. Among the highlights a cut in Corporate Taxes, a cut in the rates of foreign profits brought back to the United States. The lawmakers were briefed yesterday by treasury secretary mnuchin and director cohn. Mnuchin spoke a moment ago about Corporate Tax rates. I will confirm that the business tax is going to be 15 . That is what the president said in the campaign. He said thats critical to drive growth and, you know, what i would say people talk about pass throughs. What we think is important is small business. And we are committed that small business, owner operators, will have the benefit of the business rate.
Check out crude oil prices, which went fuderwacken again yesterday, according to mark grant. Wti is up by just 1 , to 46. 36. Brent crude sitting at 44 th49. President trump abruptly fired james comey. Comey learning of the firing while speaking with fbi agents in los angeles. This morning there is bipartisan outrage as congressional members on both sides express concern about the sanctity of the Ongoing Investigation into President Trump and his ties into russia. Eamon javers has more on this continuing to develop story. Good morning. It was a dramatic and Stunning Development last evening as the white house announced that the president fired the fbi director. This is something that caught all of capitol hill by surprise. It caught all of the Law Enforcement community by surprise. It caught the Intelligence Community in washington, d. C. By surprise. Heres what the president of the United States wrote to the fbi director who is conducting an investigation into whether or not officials
Also raised. Very interesting cutting edge, well talk about that. An fda panel backed an experimental Breast Cancer drug. Shares of the company soaring, it was up 50 on monday in anticipation of this. The news came out now, another 26 . Meg tirrell will have details in a little while. Puma is good jumpers, we know theyre fast and can get up a tree. The name of the km is puma biotech, not a totally nonsec ter. Treasury secretary mnuchen making comments on the debt ceiling. Reporter thats right, he was testifying before the house ways and Means Committee and called on lawmakers to raise the debt ceiling before the august recess. I urge you to raise the debt limit before you leave for the summer. It is absolutely critical that where we spent money, that we keep the credit of the United States as the most critical issue. Reporter he said that he believes congress should pass a clean bill, meaning that nothing else should be attached to it. Thats already running into resistance from conserv
Lots are saying that tomorrow seems pretty perilous. Former fbi director james comey testifying in front of the senate and based on his just released Opening Statements its not going to be pretty for the white house. We got the British National election where is the labor Party Looks Like it might have a chance of winning. Something that could send the british stock market and the pound plummeting and major European Central bank meeting in astonia where the economic expansion might merit the end of massive monetary stimulus. To the hand ringers will be out in full force. I bet the same people that told you to sell the last time trump was in trouble, the ones that think this rally is predicated on total trump policies. Trump stock. Will tell you to sell again. Im sure the same people that bolted when brexit occurred already have one foot out the door. I can promise you there are people that will genuinely flip out if the ecb does move the stimulus and to make matters worse throw this in
Lets look at u. S. Equity futures. Yesterday the markets were weaker this morning things are mixed. Dow futures up by close to 12 points s p down by 2 points nasdaq down by about 15. In asia, the nikkei was down almost a percentage point. Same thing for the hang seng the shanghai was up by a percentage point the cac is down by 1 now. Ftse is down by a third of a percent. The dax is off by 0. 6 the tenyear note, the yield yesterday settled at 2. 15 this morning the yield is below that 2. 146 breaking overnight, saudi arabias king ousting his nephew, the ksitting crown prine and putting his son, Mohammed Bin Salman the former crown prince was in charge of saudi arabias services footage showed an amicable change in succession the saudi all shares is up sharply today on the news. A check of crude prices, this is seen as a potential wildcard when it comes to crude with the change in power. Were seeing it holding on to modest losses here this after a big loss in yesterdays session. This happ