Within the perfect Indian Summer of new york, we see a nation counting every vote. Is 2. 5 . Within the counting of votes is the new slow bouncing off of this political moment. Ive got eight ways to go in this opening, and i am going to go jon ferro where you have been, which is the renminbi just moving to new strengths moments ago. Jonathan dollar weakness has got to be the story. We talked about this through the morning. The counting continues. This race is too close to call. This market, the event they are anticipating is a Joe Biden White house, and what that means for the economy and these currencies. They are assuming it will mean a weaker dollar, and that is what youve got on the screen, not just against the chinese currency. It is broadbased through the whole of g10. Tom the emotion in the United Kingdom, i saw the five letter word march and my heart skipped a beat. What are the ramifications of extending a locked three additional months . Jonathan i know very few people who th
Good wednesday morning welcome to squawk alley. Im Carl Quintanilla joining us this morning former ceo with us, a mentor at index ventures good to have you with us were down 85 points some of the selling is intensifying although the losses are not huge, the dow and s p are having their biggest oneday drop in about seven weeks. Worst performing sector is telecom. Thats a small sector, big move on at t, causing after earnings miss last night. A few other earnings movers to speak of, were seeing weakness there. Utilities, financials, industrials, broadbased selloff here when it comes to s p. Tech holding up relatively well. Ge getting hit again. Yes opened below 22. Were going to get to the markets with dick in a moment. First up, dick, social media and regulators, twitter saying it will add labels to political ads including who bought them, how much they are spending, ahead of representatives facebook, alphabet and twitter all testifying on capitol hill next week and follows prodder conc
Jamie dimon making the headlines on the call this hour. Five of the National Banks do not have plans sthould there be a winddown. What does that mean . 40,000 verizon workers are on strike. First up, jpmorgan, better than expected First Quarter results due in part to weakness in trading and Investment Banking. Jamie dimon calling the results solid. He goes on to say, quote, the consumer businesses continue to grow loans and dposs impressively, attracting depo t deposits faster than the industry. Theyve shown some slides on delinquencies which continue to get better and better. Right. But i think also we continue to forget there was a rate hike and one was great for them. You understand if we had multiple, wed talk about stocks going 66 to 70. I even been focused on oil and gas loans, and ive got to tell you were now in a position where in the rear view mirror, the reserves, oils have gone up so much. Remember theyre going to be able to sell a lot of futures. Look at all these deals. A
Is what im talking about. Its been a bad february and this is the first trading day of the month already here kelly, so its not getting off to a great start with the dow down almost 2 following a 2 slide in the nikkei overnight. And, bill just so people can get some context around what were seeing this looks like the worst start to a month in terms of percentage losses for the dow, for the s p since 1982 and for the nasdaq potentially ever at least going back to 1972 as our data does. Lets talk about this. I mean its clear that this market is struggling in 2014. What does it mean for you as an investor . With us today, gina sanchez from chantico global. Michael gued anthony chan from chase. And our own Rick Santelli. Michael, we have been talking for months about the need for a 10 correction in this market that did so well in 2013. It would appear its under way. It certainly would appear, and i think its actually perfect opportunity for investors to reposition portfolios. Going into th
Did to these four accusers. What can you tell us . Yes, both in the courtroom, an assistant states attorney was there, reading out to the judge why they believe that the judge should be high or no bail at all. And then we heard from the states attorney herself, kim fox, who came out and detailed the exact same things, so that people in the community could hear exactly what was being said. And the accusations against r. Kelly. The courtroom was packed. There were some other cases, but the courtroom heard these details. R. Kellys case, he was called up, his case called up, and they detailed what they had said happened to four women. There are ten counts of aggravated sexual abuse that have been charged and you heard the details from these cases. Three of those, according to the states attorney, were girls. They were under the age of 17 when this alleged sexual abuse happened. We heard the details, sordid details, explicit sexual details of what happened between r. Kelly and these women,