I think it is a mistake that because we helped the wealthy we shouldnt do it. The reason they did it is because of that. If you dont lift up the economy, the people who suffer the most are the poor. The fed is thinking about how do we lift up the economy they shouldnt hurt a wealthy person to make them feel good. They are doing the right thing now which is to let them get through this there are going to be serious situations thats kind of a secretary dairy problem right now. We should get through this and kind of unwind some of this stuff wisely there are huge incomes you could have negative imcome tax, fix education there are a lot of things we should be doing to help the poor federal policy is not the thing they should focus on letting the economy grow they dont focus on Growth Strategies they have policies that dont help growth. If you had 1 growth in the United States over 10year period, that would be 4 trillion gdp thats like 10,000 a person extra. That pays for a lot of social sa
Hitting issues that matter to the markets and your money and were always trying to make you money here on cnbc. That goes for the next generation of investors as well. Thats why we will reveal the highest paying College Majors on this wednesday july 31st as Worldwide Exchange begins right now. Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Welcome to Worldwide Exchange. Im Brian Sullivan we are calling this the stock of the day. It is apple. Results quieting the critics apple stock right now up nearly 4. 5 the headline is this, yes. Iphone sales are slowing but one other part of the business is beginning to shine. What that is and more on apple and the big move in a moment happy fed day. In nine hours the Federal Reserve is expected by pretty much everybody to cut rates for the first time in 11 years that cut will likely be by a quarter percentage point, which would take the official base borrowing rate down to just over 2 ahead o
Is set up. Futures in the United States a little bit softer. The euro tracing lower for the Third Straight day. Take a look at dollar range. But that 6 10 of 1 . We had a stronger dollar up by 2. 5 , but the rand still getting hit. Since 2015. Loss dollar, oil, bates, they pretty much go nowhere. Signaled the eu theresa may will have a year to work on a trade deal. Joining us now is bloomberg executive edit from london. Great have you with us. As you said, the eu cannot the two play hardball with the u. K. They will not negotiate a freetrade agreement until an the bill that the u. K. Owes the eu. That, if you look at donald trump, he talks about we will talk to you about your freetrade agreement if we see progress on these issues like the bill. He does not say everything needs to be wrapped up before he going to trade. Think it outlines what an actual roadmap could look. For Business Leaders, they want to understand what commercial ties look like. How long will it take to a bit of an o
Business, microsoft going into the cloud. This week we are looking at more of the retail channel which is apple, which expectations are so low, could very well turn and stock is dirt, dirt cheap. Im looking at buy for the first time in a long time. Linkedin is also more on the retail channel, jobs and so forth. They are two different worlds of tech. That wont matter. Tech as an umbrella has been bad. You look at the performance last week, alphabet down six, ibm three, amazon three, Hp Enterprise down three as well. Does this turn this week or get wor worse . What we are seeing, we talk about rotations all the time. Maybe this is what we are seeing, rotation within tech. Microsoft up 24 in the last year, google up over 30 . When you look at intels numbers, this stock was trading in the very low, towards 30, actually right after earnings, then flipped around by the time we opened the following day after earnings. Stocks moving into positive territory and holding on to some of the gains.
Excessive media coverage. This is charges that were announced today against two former jpmorgan employees. The bank lost more than 6 billion. Wait until you hear more of the details on this one. The upward spike began yesterday for apple. Karl icahn had taken a Large Division and apple. He felt it was extremely undervalued. I spoke with him yesterday. He said, yes, we are in. We know that it is apple. It has already made more than 60 million. Violent clashes between the military and supporters of the Muslim Brotherhood over and egypt. Egypt stock exchange, lowes today. Todays the countrys index dropped about 2 . We will, of course, watch it all night and tomorrow. We have breaking news for you. Just about an hour and a half ago, there were some unscripted comments. The market immediately took a dive. Lets go to peter barnes in washington. Peter we have more fed speak on when the fed should begin tapering. It has been a big issue for investors. He will be giving formal remarks in a spee