A lot better than what economists are looking for. A 3. 1 advance. The allimportant spring buying. We arty have increases for pending home sales. Existing home sales are lagging behind. We were down slightly. A little bit of an uptick following latest home cell numbers. Not changing all that much. Still changing when it comes to the dx why. Very quickly here, lets pull up the 10 year yields. It is yielding at session high. The eu says they may have pose unfair prices by from some European Countries to others. It expects there to be a solution with the help of the russian government. Here is what comcast plans to do in today passes crucial meeting with the Justice Department on their merger with Time Warner Cable. I do not have this right. Listen now and make an offer later. People familiar say lawyers will listen to the deal. Government antitrust lawyers are expected to emerge and arguing the deal would mean fewer choices for consumers. Marissa mayer knows how to get investors excited.
Stephanie is going to be here a little bit later. We are going to begin this hour with breaking economic news. Two pieces of key data coming out with economic and decatur street and the university of Michigan Consumer confidence. University of Michigan Consumer confidence. It comes in and the secondhighest since 2007 easily beating estimates of 95. 9. The forecast was for monday for 94. A big jump in expectations going higher. People think the economy is getting better. Heres what is really going to concern the fed. Inflation expectations dropped significantly. The oneyear inflation picture was dead. 2. 6 were both at about 3 prior. The fed has put a lot more weight on the survey and the caterers than they are putting on market indicators like tips. If investors think they will have inflation, thats a problem. They think that is working the way into peoples psyches. The leading indicators common disappointing at two dents of a percent. 2 10 of a percent. The leading indicators is a num
Of ourely crushed one reporters. Tim got knocked in the eye with bigmera and has a nice shiner now. Everybody wants to talk to her. Gm is just not giving any interviews now. They fired the head of Public Relations two days ago so that might be one of the issues. It is really an incredible spectacle. It is tough for her, as you can see, just making her way through the crowd there. Mobbed by reporters. Ously what cars are looking good twoyear . The new York Auto Show is becoming one of the most important. Usually, detroit was the only marquee auto show in america. They are now gaining importance. More unveiling here then in detroit. E have an incredible lineup the new. Again has grown amazingly in the u. S. They can talk about what they can do to make the brand more of a luxury rant. We have an exclusive interview with bill 49 00. The chairman of the ford motor company. We will talk to mark at 11 00. Be as been tapped to successor. Not officially, but it is kind of what the industry whis
Ritholz. Very excited to have you here today. Im pretty excited about all of the interesting crosscurrents going on in the market. On the one hand, you have a group of very local bears talking about every pullback as it this is it, this is the top. And then on the other hand, there are some fairly relentless bowls who are just quiet relentless bulls who are just quietly eyeing stocks wer continuously. We will talk about that, but lets get to the newsfeed. Bank of america posted a First Quarter loss, a mere 6 billion in costs linked to mortgage disputes. Resolving issues over home loans and foreclosures have cost be of billion have cost bank of america more than 50 billion big ones. Shares have fallen three percent so far this morning. Ann shares of yahoo are trading higher today. Ceo Marissa Mayer can thank jerry yang. I say, alibaba is preparing to go public and it reported a 66 jump in their overall sales. Yahoo owns one fourth of the company. Company again and trading today, opening
I am erik schatzker. Im Stephanie Ruhle. Wait until we get to the Grocery Store. What is a manly Grocery Store . Peanut butter. Orange juice. They can. That is crazy to me. Any good man no such ago to a Grocery Store. In the meantime, everybody, lets talk about hedge funds. Underperforming and complex. According to americas biggest pension plan, not worth the trouble. Itsers plans to liquidate 4 billion of hedge fund holdings. We will be speaking with the chief Investment Officer Ted Eliopoulos. That is an interview you do not want to miss. Friendow, we welcome our who teaches a course in Hedge Fund Investing and who is a former Hedge Fund Firms manager. There are so many ways to read this decision by calpers. I cant wait to hear what Ted Eliopoulos has to say. At the very least, it calls into question the orthodoxy established over the past two decades of institutional asset management. Think it does. There has been a newly evolving orthodoxy and it is one that led to a lot of money f