Happy friday, welcome to power lunch. Im melissa lee. A look at the markets this hour. Its fairly quiet ahead the threeday weekend. Marginal gains for the dow which is up by three hequarters of a point. S p level. Nasdaq is up by two. All three indices up more than 1 for the week with the nasdaq leading gains. The defense stocks keep on rolling. Boeing, general dynamics, lockheed and northrop all at lifetime highs. Im courtney reagan. Here is what else is happening. The second reading of First Quarter gdp at 1. 2 despite beating estimates its the weakest reading since the First Quarter of 2016. On the economic front durable goods falling for the first time in five months dragged down by orders for transportation equipment. A new forecast from t11 to 17 named storms during this Hurricane Season that would be above normal. Courtney, welcome. Lets hope they are wrong. It is championship time. The Pittsburgh Penguins are heading to the stanley cup finals after an unbelievably dramatic game
China failed and the diplomatic approach from clinton, bush and obama also failed. The criticism of President Trump has started, senator feinstein doesnt like his bombastic language. Senator schumer calls it reckless. Overall sense of shock. America is waking up to something that we have not seen before, rogue state with sophisticated nuke and americas president responds, in the nuclear era this is unique. Financial reaction is unfolding. There has been a flight to safety, investors buying gold and u. S. Treasuries and some selling of stocks. This market is like likely to move. On this day august 9th, 1945 an atomic bomb was dropped in nagazaki, last time a Nuclear Weapon was used. Varney company is about to begin. North korea best not make anymore threats to the United States, they will be met with fire and fury like the world has never seen. He has been very threatening beyond a normal statement. And as i said, they will be met with fire, fury and frankly power the likes of which thi
Used after deadly tornadoes hit oklahoma. Looking at the path of the storm could walmart take a site that visa with its new lawsuit, whether retail giants as these as choosing profit over protecting customers. In the daily Fantasy Sports industry, lawmakers hold a hearing on capitol hill today. The two biggest players are not showing up. The controversy ahead. Disney earnings disappoint. Other than that is not enough to offset declines in the cable but us. Stock expected to win market. Today 5 in the premarket. Checking in on the broader equity index this morning. Looking at issue right now with mixed trading overnight. Shanghai nikkei down in europe stocks under pressure as well. Oil has been pulling back. The later to the downside is the cac in france up 1 . In the u. S. Futures pointing to a lower open. Dow futures of 50 points. S p down for, nasdaq futures that tab. Lets get started. Thus, Dagen Mcdowell is here. David went to my right and the kids College Professor and brien birnb
We will discuss the markets in full detail in just a moment. Also want to let you know we are waiting on the president to make those comments from the white house on those new regulations regarding tax inversions, ones that have seemingly put that pfizer and allergan transaction, 160 billion transaction, in jeopardy at this hour. We will follow that story. We will take you live to the white house and we will discuss the broader ramifications of it as well. But lets begin with the markets. Stephanie, you do have the market. The dow heading for its worst twoday decline since february. Brent and wti are rolling over today. Is that what the rally hinges on . Well, i think we are waiting for earnings. Its always a tricky time between earnings because then we get so absorbed in the macro. Im actually looking at the dollar, looking like its peaked. Oil looks like its in a training range. Its not collapsing, its kind of stabilizing and in a range. Interest rates are low so i think thats a good
Tunore because he miyou ct, maf perhaps, he will print less this fall. This show, rea ov to roll. Varney company is about to begin. [ male announcer ] how do you get your boue . Bounce is great because the freshness lasts for weeks in the drawer. Why cant everything stay fresh that long . [ male announcer ] how do you get your bounce . [ man ] lasting freshness. Lets kick off the show with breaking news. The ap reports that president obama is canceling his meeting with russian president putin over tensions because of the nsa leaker edward snowden. Russia granted snowden one year temporary asylum last week. We didnt like it, the meeting off. Lets get the policy, president obamas plan to keep the hougs recovery going, here it is, winding down the role of fannie and freddie and give private banks a bigger role in lending. He wants more loans for credit buyers and exert more control over the bank telling them what to do. If things go wrong, the taxpayer will still have to back the housing