Good morning, welcome to squawk alley. With me here at post 9, Kayla Tausche back again all three major averages hitting record highs the dow at one point within 150 points of 25,000 its backed away from that a bit, but were still keeping an eye on it. For more, philip swagle and jim paulson, chief investment strategist welcome to both of you jim, we keep hearing simultaneously that the market is rising on tax reform optimism and also that tax reform is priced in. Which is it . Well, its hard to argue that its priced in when it keeps going up every day thats for sure. I dont know what has not been vetted by the market as far as this tax policy is concerned the news has been out there for some time. People got a very good idea exactly what its going to be and already have adjusted their earnings estimates and so forth, so i sort of lean in the camp, too, that even though theyll probably pass it this week, most of that is included in the market here, but its hard to get in front of a one
Ue of green, mirroring what is happening in the u. S. Without the record. July inest gains sense the stoxx 600. Final estimate for november, headline 1. 5. It has been overtaken by last weeks ecb meeting when the projection for inflation for 2020 of 1. 7 causing many to question draghis ability to maintain that inflation target but inflation, same as the earlier estimate. About economic surprise. This is the economic surprise index from citigroup and for europe. Fascinating chart. The u. S. Fell away through june and went negative showing the data missing estimates on average and now it is boring and both both estimates are roughly around 72. 2. Economic surprises in both the u. S. And the eu marrow in each other mirroring each other. The deal cementing brazil at the heart of the National Growth strategy for the coming years. 90 minutes into the session in the u. S. How is it looking over there . Julie seeing strength as the per the passage of the tax bill gets closer and a Corporate T
Legendary radio host great to have you here. My pleasure to be here. I should be getting ready for a show but thrilled to be here i watch you guys every day as i said for years and years as a guy who likes to dabble in this stuff, but i watch you experts all the time and yell at the screen, especially cramer. I was going to say thank you for spending the first day of the rest of your life for us. Looking forward to it for months pleasure to be here. You love sports but you love the market really into stocks. I had a guy who used to handle all my stuff and now i do a lot of it myself and i learn a lot by watching you guys and i watch religiously. I watch at 7 00 in the morning and him when he first comes on and at 12 00 when im getting red for the show every day we watch you guys. Certainly appreciate it a pleasure to have you. My pleasure. Jimmy, everybody wants to know as we hit new records across the port, another 200point gain, were a little bit off that how high can we go look, i l
Blamed on the hurricane. Dayal news 24 hours a powered by more than 2700 journalists and analysts. Im Alisa Parenti. This is bloomberg. Day powered by more than 2700 Bloomberg Technology is next. Im emily chang and this is Bloomberg Technology. Coming up, bitcoin hits another gear on a bigger stage. Why sundays debut could play a defining role in the cryptocurrencies march to the mainstream. Plus, the blackout at americas busiest airport. How tech can help keep the power running when the lights go out. Stepping up security. With just a week to go for lastminute shoppers, an ebays executives tips on shopping online. The worlds Biggest Exchange just joined the bitcoin revolution. Futures started trading on the ame after there were similar derivatives on the volatile cryptocurrency. Cme is a much bigger player. The exchange got up to a faster start with more efficient pricing. Its most active contract change d hands 270 times. It is a huge win because cme contracts are five times more val
You go out no, i dont. Various market milestones today. The nasdaq crossing 7,000 for the first time and the dow closing in on 25k for the first time although were well off the highs right now. Tax reform hopes, and a series of deals this morning seem to be helping sentiment today. This is the first time ever, by the way, that the dow has gained 5,000 points in a single year. We began the year in president 19,000 range and now were well into 24k. Its just crazy theres no other word for it nothing like bitcoin, though, by comparison, it seems tame. We have people who are going to tell you where to make more money in the sfarkt cotock markg up in a few minutes. Is utilities are the biggest loser today. We have a debate on whether the bitcoin boom could help drive utilities higher talk about some of the power usage. Thats a hot topic. Recode calls him one of tvs most important executives. What espn had john skippers resignation announced today means for that sports giant and for disney ov