Out its new plan, but for now we can tell you it looks like this second crack at this white house at this immigration executive order is going to focus on six countries, not the seven they initially focused on. Theyll take iraq off the list. This white house very much believes that its first crack at the immigration executive order was legal and proper and well handled. That said, the courts stepped in to block some of it so theyre taking another chance at it today. Well wait until 11 30 to get the details. One focus will be on whether or not the white house can do this without provoking the chaos and confusion we saw at airports around the country as officials struggled to figure out who was allowed in the countries and who was not. Theyve had time now to process this and get the information to all the people at the airport so we expect theyll be giving us the full details in half an hour. Dont go too far. Well come back to you for more on that. The impact and risks to the rally as th
Markets. First trading day of the Second Quarter. A pretty interesting bid in bonds this morning to talk about. Scott is wells fargo global strategist and nicholas, strategist, joins us to talk about that this morning. Tenyear down. Obviously you have the equities off their highs of the morning. Whats going on there . Tenyear is one of those k contra indicators. The 10year yield should be higher if growth will be there for the back half of the year. These 10year low yields are propping up stocks. Scott, how long does that dynamic last . Do you go along with nicks view of whats driving bonds . When you look at the fed prong projection and they tell us theyll do three hikes this year and three next year, are bond yields going to go up on that . I dont think so. I think the bond market is telling us that in a slow growth environment, you know, you raise rates six times in two years, you know, thats a headwind for economic growth. I think the consensus, our work suggests that consensus ear
Approach tactfully for a giant looks to expand its pharma lineup. Trimming its second weekly game as opec focuses negotiated terms on iran and russia after iraqs signals they will agree to a production cuts. The next meeting is november 30 and that is what you need to know at this hour. Jonathan the ecb is facing the decision to extend a 1. 8 chilean dollars dennis program. 1. 8 chilean dollars stimulus 1. 8 trillion stimulus program. We were in athens earlier to weigh in on the subject. Bond yields and bond prices have changed. We are entering perhaps a new. Ra the numbers show that our policy works. Inflation is on the rise as i said before. We look at this data on the eighth of december and we will decide. Of course, Monetary Policy will continue to be accommodating until inflation arrives at a level of 2 or slightly lower. Still a Long Distance from these targets. Far too early to be talking about the tapering word. It is far too early, exactly. One thing we have seen as a result o
This morning. Yield curve continues to flatten and of course the fed minutes are on the way 2 00 p. M. Eastern time. Road map begins with target shares plunging after the Company Issues guidance. Call will begin in just over an hour. Goldman sachs downgrading equities saying theres no particular reason to own them. And fed minutes are coming out later today as the dollar hits a sevenweek high. Four years ago today facebook went public at the nasdaq. Shares priced at 38, now closer to 120 on a day where Mark Zuckerberg is set to meet with some u. S. Conservatives. First up, mixed picture on retail, target beats on quarterly profit but revenues and comps miss, Current Quarter guidance, lows better than expected results, comps up 3 surpassing home depot for the First Time Since 2010. And staples beats on the top and bottom line. Hard to remember a time where lowes its routinely the bridesmaid here, not this time, jim. Used to be for about four or five years during a period before frank bl