To the fed minutes. Yes, the initial impression was that they were hawkish. Now perhaps the market reevaluating that to some extent. We will get more on where this market and the economy is heading from none other than mohammed el erian. He is here exclusively in just minutes and have some good insight on why the market has continued to rally in the face of so many troubling geopolitical developments. And another tale on the any might be new data that Shows Americans are starting to struggle with paying down their auto loans. This coming after taking out record high amounts in car loans. Some with iks isyear, sevenyear terms. Phil lebeau joins us with the details and why some say it is a canary in the coal mine for our economy. Now lets take a look at these markets. We did take a leg lower as those minutes from the fed hit about an hour ago but since the dow is made up that lost groun grobd and then some, up 60 points to 16980. The nasdaq is up just about a point to 4528. And the s p w
Our Steve Leisman sat down with him live in jackson hole, wyoming. Stay tuned for this important interview. Was it a well deserved 17 billion fine . Or was it extortion . A former bank ceo says bank of america was extorted by the u. S. Government to the tune of 17 billion. Paying for the sins of Merrill Lynch and countrywide during the housing crisis. Even though it bought those firms to help stave off the economic catastrophe for the u. S. Were going to debate that state with our own friend, larry kudlow, among many others. Pretty impressive to watch the dow right now. Because it is up 93 points. Thats a session high. 17,074 puts it within shot after new closing high. Something the s p 500. Looks like it is going to achieve, up seven points to 1,994 today. That is the new intraday high. The prior intraday high was july 24th. It could close above 17,000 today. Anything could happen in the last hour. Nasdaq a little bit quieter up, up six points to 4,533. Joining us now, David Scranton
Widely respected naysayers. Sell, sell, sell keep a system that stocks are doomed to go lower, perhaps much lower. A pessimistic drumbeat that gets amplified across tv, print and the web. Regardless of where stock are trade or how the economy might actually be doing and its totally out of sync with reality. In fact, sometimes i wonder if many of the professional bears are living in an alternate universe. One where theyve actually been right rather than consistently been wrong and just the 20 months from midnovember 2012 to midjuly of 2014, the s p 500 rallied 50 including dividends and a performance thats downright spectacular. If you simply bet on the market as a whole via the s p 500 index fund. Youve made money hand over fist. No time and inclination . Fine. S p fund. In the past, this bull run might have inspired some euphoria. These days it only seems to inspire more skepticism. Modicum of skepticism is always healthy, but i find the widespread fear and loathing of this market to
And the parents, of course, have to make an awful lot of money to make that happen. Tyler is out today. Cnbc asias susan lee is in. Were going to begin with the developing story, the severe terror alert in the uk. The white house saying moments ago it does does not have plans to raise the status. John harwood is live in washington. We begin, though, with International Correspondent Michelle Carusocabrera on that uk terror alert. Mcc . Yeah, the United Kingdom raising the Terror Threat to severe, the second highest possible level, the highest level in three years. According to a Statement Released by the uk government, severe means that a threat is likely, but theres no intelligent to suggest that one is imminent. David cameron followed up with a News Conference at 10 downing street. We are in the middle of a generational struggle between a poisonous and extremist ideology that i believe well be fighting for years, and probably decades. Cameron went on to say that hundreds of british ci
Inversion. They would operate as a standalone brand. Two points on the burger king deal, even though it is an inversion, this deal likely a little bit more like a real deal in terms of strategic merit, both in terms that 50 of the company would be based in canada. There are reasons to keep it there, but more importantly from a 3g perspective, the guys that own burger king, we saw what they have done with inbev and heinz. This is sort of their approach at taking a Restaurant Company and using it as a platform to buy a lot more. I would argue to everybody that this is just the beginning. We should see the transaction cross the tape later this week, probably tuesday more likely wednesday. Well talk more about that in a moment, but for now well send it over to michelle. Im dying to talk burgers and donuts. I think it has more to do with fries. They finally said, you know what . The fry situation, the fry problem was too big for us at burger king. Youre right. Tim hortons has a track record