Next for oil stocks kiging off in the red theres more than 750 cases 5 750,000, i beg your par doon well talk about that and more as we kick off this hour we kick it off with the markets in terms of Stocks Holding steady as energy is in a free fall. Its the story of the day. It will be the story of this hour lets get to bob with the set up for these markets. Bob. The important thing is we are well off of the lows. Industrials weak Consumer Staples are weak. Were not getting any bounce at all from those defensive plays that done so well for us in the last several weeks like proctor, cocacola. Not much energy there today. One good piece of news, the banks after a rather rough week, the etf bouncing about 6 from its high to low. The key regional banks are trading up most of them were trading to the down side. Finally, just on oil, had a lot of inquiries about uso and all these oil efts want to remind every one they own oil futures. Either the front month in the case of uso they tend to ro
Tech hardware up 1. 5 of the week. What are you watching . As you can see it is off by 9. 5 and cutting back the orkforce, about 16,000 employees. Growth has been arranging from negative 10 to positive 10 . They are looking at zero top line growth. Next year could be negative 1 and looking to boost that around. If we look at the long time chart. You are back now down since the july of 2017 and hoping to turn around the bottom line. And earnings from share from 225 to 232. At least in the interim, that should help the bottom line. You have to do more to drive that top line growth and cant cut your way into growth. It was pretty notable turn around in the bond market today and look at the twoyear yield. T shot up four basis points. It wasnt a disaster as some had worried. In this chart, it faded back down by the end of the day, trading below 1. 4 . That is near the lowest. Curve ear yield so the is flatening. And perhaps it all goes to that feeling that the jobs report created. Note that
Now. And welcome to power lunch. Im milissa lee. Holding steady this hour, dow managed to hit another record high right at the open before pulling back here. Apple one of the biggest drags in the session this after the company acknowledged cellular connectivity problem with its new watch annadarko, a massive buy back and fifth straight day of gains and near session highs on pace for a fifth positive day in six we begin here with a developing story. President trump announcing new sanctions on north korea eamon javers has the latest. Hi milissa. Alongside south koreas president moon at an event in new york city. The president saying, first, the United States had put new sanctions on north korea and also that the chinese president had told chinese central bank, told banks in china not to do business with north korean entities indicating the chinese are getting serious about exactly what he wants them to do in terms of north korean trade what the president had to say thanking chinese presi
Coming up for you in this edition of closing bell, amazon, alphabet, microsoft, intel, and starbucks reporting earnings today. Breaking down intels big quarter exclusively to the cfo, bob swan. Theres a bunch of others out there. Just went with the headlines. I hear ya. All the first five minutes of next hour. Alphabet may dominate the digital age, but Martin Sorrell said amazon is the biggest threat to his industry, and hes joining us in a moment to explain why. First, lets begin with the reaction to the president s tax proposal. Steve leisman at cnbc headquarters to look at the Economic Impact has. Eamon, you first. Bill, one of the questions here has been over the past 24 hours or so coming to the president s tax plan has been whether or not theyll make changes to 401ks and tax treatments. I asked sean spicer in the briefing, over after the briefing, i spoke to an official here who clarified they are not planning on making changes at all to 401ks in terms of the tax treatment. That
Position in the white house. What he said and why some are rumoring him to be the next fed chair. And ubers board is discussing who could be the next ceo. Those details coming up. The latest on Hurricane Harvey Jackie Deangelis is still on the ground in Corpus Christi nbcs meteorologist Kayla Mcgrath is checking its path with the news, this is a category 3 storm and well begin with you, jackie. Reporter thats right, kelly. As a matter of fact, weve been watching this storm all day from category 2 now to category 3 not really coming as a major surprise to anybody. The white house is actually out with an official statement on this right now as well saying that people should obey the rules determined by their local officials, really urging that caution there. And, of course, President Trump said that he would come to this region, to texas, early next week as well a presser just ending from the Texas Governor also to comment on this. He made a statement saying this is going to be a very ma