About the demise of the Business Leader panels the president put together with so much fanfare. Did he disband them . Who knows . Youve got ceos openly castigating the president for his off the wall remarks and the president calling them infants pure chaos in washington, with some of trumps most important allies unable to hide their contempt for the president s statements which they see as providing aid and comfort to White Supremacists but the dow gained 26 points, the s p inched up, and the nasdaq advanced 0. 19 . Why isnt this market plummeting simple the stock market is not, and has never been a referendum on washington they know nothing sure, some president s are more stock market than others. Regardless, whatever else you may say about this administration, and you may be saying it, trumps as pro stock market as it gets. He believes that the market is a referendum on his president. They cant hurt. Nevertheless, lets not forget that the market did well under president obama, too he
Number came in a confused everyone. Julie we are still seeing troxel stocks trade lower. Eurozone, wethe get manufacturing data that was not worse than expected but only , justsmall expansion above the 50 line. In the u. S. , the number came in ahead of estimates and was not that far above 50. Nonetheless, we are seeing not a positive reaction. The nasdaq is leading in terms of gains. Its not even of one full point. The dow and the s p have been lower intermittently. The dow is the laggard just like yesterday. The s p 500 over the course of zigzag,had a kind of almost going positive at one point midmorning before dropping back down. June has not been a very favorable month for the s p 500. This is a busy screen so focus on this column. This is the june column. The average decline in june over the past 10 years has been 1. 5 . Six of the past 10 june 7 negative. It has not been a kind month. Worstays session, the drags her in the s p 500. Apple, microsoft, General Electric are all slidi
Watch. Erik time for our top stories is one of his best begin with this. German chancellor Angela Merkel is standing out optimism in the greek crisis. They end the night with the leaders of greece in france. Greece once the remaining 8 billion in bailout funds to the void avoid the fall. She says there is a whole lot more to do before that can happen. I will have bilateral talks and have hardly spoken last night with the french president and the greek Prime Minister. It was a very friendly, constructive exchange, but it is clear that further work with the three institutions is necessary. Erik she was referring to the imf. It is behind greeces bailout. President obama says that the u. S. And its allies are not losing the fight against the islamic state. He says more needs to be done to help iraq. They talk to the magazine after isis captured the city of ramadi. Obama says they could use when the war without needing more troops to fight. I can say with full confidence maybe this is a con
Things out youll never be whipsawed and you might catch a move like we had today where the s p gained 5. 6 and the nasdaq folded 1. 05 per. You know what caused todays rally . Was it it tthe incredibly move draggy who is singlehandedly getting the eurozone out of the deflationary doldrums . No. Not really. As we know from the soggy stock market opening despite the news coming out an hour before the opening bell. [ bell ] was it more deal talk . This time the potential for a giant sprinttmobile tieup, hardly because both stocks were up fishlly, spreading lots of good feeling it it wasnt long before we realized there was nothing imminent and the journalists who penned these pieces incorrectly failed to crib for fr my squawk on the Street Partner david faber, the stories were a tad too breathless. Was it industrial earnings from joy global who had a rebound and impactful notes on a few down and outers, think whole foods . No. Not a chance. Thats way too one off. So then what did happen .
As we did earlier today. Only the dow inched off, s p slid. 20 . Nasdaq advanced. 04 . Take this morning, im walking out of the New York Stock Exchange after squawkon the street, going in at the exact same time is the comanager of my Charitable Trust. She sees me and said what do you think of the decline in aerospace here . I said, it makes no sense to me. We know business is trick. She couldnt think of any reason for the weakness either. I said, maybe its the failed sale of b. E. Aerospace. They make seating and galleys. Not that long ago, the company decided to explore strategic value. We know there has been tremendous takeover lately. When i read that b. E. Is going to break itself up rather than sell itself, i figured that maybe someones using this news to make the case the aerospace cycle has slowed down. B. E. Was down 5 when we saw each other. It did reflect poorly on the airline business. At least as of that moment. She said, how about buying United Technologies for the trust,