we begin in the united states where president biden hasjust wrapped up his state of the union address seen as his big pitch for a second term in office. the strength of the economy and its resilience in bouncing back from the global pandemic was front and centre in his speech. but the president said there is much to do and promised to tax the wealthy more and squeeze profits from industrys such as big pharma and oil. we are the only country who has emerged from every crisis we enter into stronger than we got into it stop and that is what we are doing again.- into it stop and that is what we are doing again. years ago the economy we are doing again. years ago the economy was we are doing again. years ago the economy was reeling, - we are doing again. years ago the economy was reeling, i i the economy was reeling, i stand here tonight after we created 12 million newjobs, morejobs created 12 million newjobs, more jobs created created 12 million newjobs, morejobs created in c
Driving the market for these gains. Inhave the dow up the most the three major averages. The nasdaq on pace for its best when streak since the beginning of october. Lots of optimism and one driver could be earnings. The Fourth Quarter Earnings Growth in a yearoveryear basis should come in at 11. 9 to thats the best since the First Quarter of last year but we see 2017 very strong relative to Earnings Growth. Could be one reason the s p 500 had its best year last year since 2013. Suggesting the strength we are seeing could just continue in 2018. Another driver on the day, oil. Up 2. 3 . There is optimism that supply will be tight and taking oils to level oil to levels last seen in december. E have one bearish patch take a look at express and urban outfitters. All of these companies plunging week disappointing holiday comps. Got real weakness for some of these retailers. Very interesting is the fact that the recent Holiday Season is considered to be the best in a decade. Not seeing its wi
High. We will get the view from Goldman Sachs. There are record deliveries for airbus. We will speak to the ceos of both companies this morning. Matt remember how inflation scared markets into a massive selloff a couple of weeks ago . Yesterday we got the strongest month over month cpi numbers 12 12 years anders in u. S. Stocks rallied. You saw a spike in treasury yields. Take a look at the 10 year here. You can see just a massive yields. In treasury the yield has gone up, as investors sell the debt. That makes sense if you expect more increases from the federal reserve. The question is, what happened to stocks . Guy i dont think that you or i could even bother to explain. The yen is really strongly bid, so the dollar continues to go down. The strong concerns see currency out of japan does not seem to be bothering the authorities. Kei wask kind nic also trading higher. Is big this morning, gasoline is also. With parsing a bid we are seeing a bid coming through on some of the muscles. W
Cehic. Mifid ii to doddfrank, we will speak to the top newsmakers and Market Participants shaping and reacting to a new generation of rules. The sec says firms can accept payments from clients. A 30 month reprieve to u. S. Firms on the research was coming into effect in january from mifid ii. The Regulation Team in washington joins us now. Then, great to have you. You have been all over this story from the beginning. Deciding to doc this. Was it lobbying . Lets kick this . Brokeragesll street have been pushing for months to get the sec to tell them if they can accept payment from european clients and not have to register as an investment advisor. They dont want to register in the u. S. Because that carries responsibilities and costs, fiduciary duties. The sec relief they announced today is limited to european clients so they can continue to Bundle Research with Trading Execution Services in the u. S. For their clients. Then, youyour story, described this as a major victory for u. S. Br
David i dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . You have now had to follow bill gates and steve ballmer, two legendary figures. Did you feel you were ready for the job following those legends . Or were you saying i could do a better job than they did . Satya the best advice i got from both bill and steve i think helped me a lot. The clear message was, dont try to be like us. Dont even bother to sort of say, i am succeeding these people. Just be your own. In fact, i remember very distinctly, even during the interview process, the board was conducting they asked me, do you want to be the ceo . I said only if you want me to be , the ceo. The feedback i got was that people who want to be ceos are like, i want to be ceo. That is not me. I remember one i was talkin