The best week since november, which is kind of shocking compared to how things looked after the u. K. Vote. Not seeing as large gains, but continuing the trend weve seen the trend weve seen in the past four years. Manufacturing data showed the biggest expansion in more than a year. We also got more positive manufacturing numbers out of europe. Take a look at the biggest gaining groups today. Consumer discretionary is leading in part on the strength of automakers, health care, industrials, and tech is also higher. And we see more expensive groups like staples and financial groups lower. Withd fiat both came out june sales and their sales are higher. Because of the strength of the sales we did see you were in suv, a highermargin product. We are also watching gold today. Gold going higher. We see the miners benefit as well. In particular, Newmont Mining gaining. Twofold froming the price of gold and from that deal. Also a lot of news and the m a sphere. Julie it has been an interesting an
Put another good morning. Its Worldwide Exchange on cnbc im sara eisen. And im wilfred frost. Its Throwback Thursday and its go to karaoke songs. And were holding some gains with a mixed picture. Dow futures down 6. 5. S p down 1. Nasdaq positive. Its been the outperformer its up 2. 5 for may. The chart to watch . Brent crude oil. Pushing above the psychologically important 50 a barrel mark for the first time. Were sitting just above there. Just holding on. Besee a half percent above wti. And brent. Wti 49. 84. And later in the show the fact that brent is above wti. Well get his perspective on how long it might hold this time. Lets check knob Global Market this is morning. Europe mixed. Just lost a little steam in the last half hour or so. Most of the markets are negative. Not too pronounced. Germany is positive. And spain is down because the banks are down significantly. Banco popular had a rights issue and down about 20 weighing on the sector more generally. Europe over the course of
Mathisen is somehow not wearing a tie. More than Economic Data never takes off and you got some big data earlier today. Lets find out what it may say about the economy and your money with the very bespoke Steve Liesman. I may take my tie off. The bad news is that with this mornings revision, we couldnt even get to 1 for First Quarter growth. Q1 actual up 0. 8 . That is an upward revision. There would be hopes for a whole number. 1 couldnt make it. The good news is that weakness is so far not spread to economists for this quarter. Here is the cnbc rapid update. There is news in this, folks. Its unchanged. The yfd a rebound remains intact. And some big guys like Goldman Sachs had the upper range there of 3 . Here are the details of the gdp number. Consumer spending that, is the big disappointment. Still at 1. 9 . Business investment revised downward. Businesses are simply not spending out there. Housing is strong. Revisions upwards to net trade. Exports were a little better. Imports a li
Retail stocks hit hard today. You can see it trading down 19 there. A number of top executives telling us consumers are still spending. So whats behind these moves . Were going to take a deeper dive into whether the consumer is weak right now. A disconnect in all of that. Big earnings from tesla. 21st century fox. And square reporting after the bell tonight. We will tell what you to expect from those reports coming up. And more reports about turmoil between the Republican Party and nominee donald trump. We have outspoken libertarian Penn Jillette. Among other things. Look forward to penn coming up. There he is. He calls himself a professional juggler. But he is so much more than that. We will talk with him later. We start with the bullish call on gold. Precious medal falling today. But up 30 this year. Bill gross was on power lunch earlier today and he made his bullish case for the commodity. I like gold, too. I think ultimately if fiscal stimulus comes in and weve seen that in japan,
Made a recovery with more consistent growth than the overall economy. But as recession risks grow, what will happen to housing. Jimmy, welcome to the show. There may not be anybody better than you to tell us whats happening in housing. It many a mixed bag. The good part is Interest Rates are at historic lows. You can get a mort game for 3. 5, 3. 25 interest. If you understand mortgages, the interest and principle on a mortgage are the principle payments, they are the affordability part of owning a home. If Interest Rates go up, its hard for people to afford homes. If Interest Rates went up 100 basis points. That would be an increase of 20 to 25 in payments payments. That would knock a lot of people out of the housing markets. With Interest Rates being very low, thats good for housing. On the other hand, we have issues right now the best mort ghaidges my lifetime. The highest quality mortgages, fanny, freddy, fha, va. They all raised their qualification standard which eliminate a lot of