Which sounds totally crazy, but there have been so many wrong reports and but its hard to say anything. This one, the latest that i had read on this, this gentleman, was seeking asylum, they thought, in germany. They didnt think he had linked to terrorist activities. But again, all of these stories are changing quickly. He had the stolen passport and supposedly the second guy with the stolen passports, they bought their tickets one right after the history. Were going to have a gentleman who knows from bbs. Right. Everyone says the 777 is one of the greatest planes ever designed. And they dont thats why they are not willing to write off any foul play. Right. Whether that be pilot error, hijacking, terrorism. Theres 50,000 flights a day in this country, i think. And typically, you know, they dont just disappear out of thin air without a single warning sign. It looks like this plane may have been turning around. They picked up military radar. They cant figure out why it wasnt on the radar
Right after the open. As for the action in europe, taking its cues from the United States. Well see a big rally in china extending one of its biggest rallies in three years. We have a mixed bag in europe with italy up by about. 2 of 1 . Well do our best to keep focused on the business day. Well be following the tragic shooting in connecticut, of course. The New York Stock Exchange will hold a moment of silence to honor the victims in the next few moments, and well be looking at the president s call for meaningful action and the politics of gun control. Lets get to a road map for this morning. It starts with apple. Under pressure once again. Even dipping below 500 a share at some point this morning. Shares will remain range bound near term. Iphone 5 sales and cannibalization among the region. Other concessions from the gop, the speaker proposing tax hikes for millionaires. Could this be the tipping point. Moving the talks beyond deadlock. A big week for earnings. Yes, earnings. Fedex, r
They do things for noneconomic reasons. Somebody said in europe, they dont care about theyre going to keep europe together. The u. S. , i think entitlement reform is serious. I think they have a couple weeks to work this out. Barry, thank you so much. Its been a pleasure talking to you today. Thank you. That does it for us today. Make sure you join us tomorrow. Right now its time for squawk on the street. Good morning. Welcome to squawk on the street. Im melissa lee, along with carl quintanilla, jim cramer and david faber at the New York Stock Exchange. The new home price reports were just released. S ps David Blitzer will join us to break these numbers down moments from now. Lets get a check on futures. And how we are setting up, this after the s p ended its eightday rally. It managed to hold above the 1,500 mark in yesterdays session. The dow looking to lose about nine. Confidence numbers are on tap at 10 00. Italian field auction, selling bills at the lowest yields since march 2010.
And the New York Times runs . What are the distributional consequences . Will the rich be paying more . What about the middle class . Shouldnt we be having that same discussion in the conduct of Monetary Policy . If you think about this Monetary Policy, if youve got the freedom, like ken and stan, to devote huge amounts of money into liquid assets, to play the risk game, youre going to be a huge beneficiary. So this is in some sense a policy where we also need to think about the distributional consequences. And this is in some sense a transfer to people that are rich. Trickledown economics. Stan calls this trickledown economic policy. Others can see if it worked in fiscal. Well see if it works here. Its also a transfer to those who are imprudent to those pro are prudent. Dont wait so long next time. Its been unbelievable having you. A great hour. Thank you. Thanks, joe. Thanks, becky. Good to be here. Andrew, well see you soon. Make sure to join us tomorrow. Squawk on the street is nex