Act cord cutting to house of cards today, well tell you what he had all of wall street talking. First, a bank worst performing sect sector. Both negative on the year. Check out some of the action, gold man sax, j. P. Morgan down and 3 respectively. Could the banks be the ultimate value track or should investors be buying the dip, tie . There obviously havent been trades, goldman sax is the first one reporting. The contracter the price action since has been miserable, think about it. Since makening an all time high, theyre down over 20 in a couple months on whats been a pretty decent tape. I have been one of these people bullish in the banks, now i have to ask myself, does goldman need to recapture that 225 . Tim talked about this, and j. P. Morgan. 84, critical level. Down again today. The last piece is xlf. I think goldman was terrible. I think they actually that to me will be an explanation why they would be under performing. Fair enough, what goldman franchise is you can argue is un
Foreign investment really rising here. It is our top story today. Indeed, it is. Raising the stakes on the korean peninsula. The United States confirming that the north did indeed test an intercontinental ballistic missile. Agency,a central news the government they are saying kim jongun launched a missile capable of hitting the mainland by the end of the year. Peter is there in seoul. How is the city responding to the drama . A lot of noise, but not much reaction here. Many of the folks on the street view this as another provocation by north korea. , or atg, but nothing least they do not feel it is threatening. Life is normal, business as usual. And i think you saw that with the financial markets. After a little blip yesterday afternoon, it seems to have come back to business as usual. It is onw with kospi, the positive territory. Again, the reaction as i reverted back to basically a new normal. Rishaad this is just it, we were talking earlier on about how sanguine and prosaic people a
Worry about the fed being behind the curve. Theyll see the return of the bond vigilantes, remember them from the 1990s, the risk of sharply higher rates on the long end which could lead to a weaker economy, a weak stock market on the catch the trump economic plan could come from the markets and the fear that the fed is behind the curve, inflation is spiking, weaker economy, weaker stock market. Trish this is significant, kimberly, they are raising the range here to half point to threequarters of a point. What does that say to you . I think its baked in there now, that the stronger economy, unemployment is under control, and so thats going to be an expansion. Plus, with trumps ideas maybe saying more infrastructure, tax cuts personally and federally, as well as sorry . Trish im agreeing with you, i said uhhuh, keep going and as well as regulation reform, i think this is a great environment for investors for the long term. Yes, its going to be volatile in the short term, absolutely, as I
Good morning. Welcome to Worldwide Exchange on cnbc. Im sara eisen. Im wilfred frost. Good morning to you from me as well. Throwback thursday, throwing it back with a winter theme. We still have about a week to go until the official first day of winter. Really . Its cold enough. We havent got winter yet . Welcome. Good god. Welcome to new york city. We saw a selloff yesterday postfed for stocks. First triple digit decline for the dow since the election the worst day for stocks since october, even though they were down less than a percent. Just a strong few weeks for the stock market. Looks like things are back on a firmer note. Dow futures up 47. S p 500 futures down more than 4. 5 up, excuse me. We saw the bond selloff resume and pick up on the twoyear. Also on the tenyear. 2. 6. Were heading towards a close that would be the highest since back in september of 2014. Twoyear yield sharply higher, biggest reaction in the currency market where the dollar raced higher after not just the f
Up Interest Rates and signals there are more hikes to come. Can the stock market continue to rally as Interest Rates rise . Im here to help you folks do well. The president elect strikes a conciliatory tone as he meets with prominent Silicon Valley executives. Some of his most vocal critics during the campaign. 1 billion accounts. Yahoo discloses another hack, and this one is even bigger than the last. Those stories and more tonight on nightly Business Report for wednesday, december 14th. Good evening, everyone. And welcome. It finally happened. The Federal Reserve hiked shortterm Interest Rates. It is the first increase this year, and just the second in about a decade. Rising Interest Rates could impact millions of americans, including those who save, those who invest and those who are thinking about buying a home. Interest rates have been near zero since the Great Recession but today the economy has picked up. And she expects the momentum to continue. That could mean more Interest Ra