High. Yes, down 20 otherwise. Now when oil goes lower, airlines tend to go higher in terms of the stocks as those stocks rallies today. Can you see that each of them most of them up over 2 . We have the number one analyst Airline Analyst on the street with us to day. Jamie baker. Hell give us his top airline picks. And president obama just announcing new Clean Power Plan which could have a major impact on the coal industry and basically industry at large. Weve got the ceo of American Electric power live. And the cit group is completing the purchase of one best banks parent company, cit ceo john than will be joining us to discuss that deal and the impact it could have on the lending environment. That will be a cnbc exclusive in a few minutes. In the meantime lets talk about todays Market Action joining our closing bell exchange, we have chase chief economist anthony chance us with. We have president of onpar executions and our own Rick Santelli joining us as well. Peter, the impact that
The lows down 234 right now and its a broad selloff financials are actually the hardest hit. You can see the yield on the tenyear approaching 2 . Investors are piling into safe haven assets like the treasures. Well talk to the ameritrade chief strategist on whether americans are doing buying on the dips. Mohamed elerian on whether geopolitical concerns could get worse and whether the fed could put any further rate hikes on hold as a result. Oh, boy. Right thats on the table right now as well. Lets begin with seema mody here on the floor of whats driving the selloff on wall street today seema . Kelly and bill, the calendar may say its summer, but it certainly feels like fall, a lot of traders reminding me historically september is the worst performing month as traders return to their desk goldman sachs, one of the most heavily traded names, surpassing its 30 day volume average, about 4. 3 million shares have exchanged hands. Its down just about 3. 5 , the second worth of we are forming
Chipotle, express scripts, Texas Instruments, just a few of the names set to report earnings in just about an hour we will have our hands full at that time but lets get straight to our big story. The strength in the market today from the Big Industrial companies cat and 3m getting that boost on earnings driving the dow higher ge and ibm trading lower, bob pisani give us some more. Well, heres whats going on. Theres a very unusual divergence between the dow and the s p. Its happened a lot this year, actually 70 points or so. And the reason that is is the dow is price weighted and when you get certain big name stocks, big price stocks moving, that moves the dow. This is the really eye opener of the day. 3m now, they had good numbers and they raised their guidance for the year about 1 , which is good generally you get a little pop on that. But folks, not 7 . Look at that thats 15 you know what that means for the dow . Thats 105 points for the Dow Jones Industrial average 105 points due to
News right now thanks, guys have a good weekend. See you later. Lets get more on the breaking news out of washington our reporter standing by right now, eamon javers has been in bridgewater, new jersey, and has the latest developments on Steve Bannons exit. Ylan mui reporting on the potential impact on the economy. And bob pisani watching the Market Reaction on the floor of the New York Stock Exchange. Eamon, lets start it off with you. Reporter heres the official statement as it came through from the white house earlier today, saying that steve bannon, was, in fact out the white house saying white house chief of staff, john kelly and steve bannon have mutually agreed today would be steves last day we are grateful for his service and we wish him the best this continues what has been a tumultuous year for white house staffers and highlevel officials, both lowlevel folks and highlevel folks in this white house have been booted out during the course of the year. Take a listen to this soun
The broader implications for china coming up. This is a company that already owns a landmark in new york city and youve got another chinese firm already been buying up theater chains around the country. They are making big moves in the u. S. The same company was already just going to buy a portfolio of assets from black rock. Its incredible how much deal making there is out of china. Well get to my interview with Jeffrey Ubben and what he thinks about the ceo of valeant and 21th century fox and netflix and the move in oil. Its all coming up in a cnbc exclusive. The office is stunning, gorgeous. Leave it at that the. Where some of the money went, i guess, how nice for them. Plus, ohio and florida of course the two key primaries coming up tomorrow. Well tell you whether any candidates can potentially beat donald trump in those states and how the results could affect businesses there. Lets start with this story out this morning in chin ease company on a shopping spree in the u. S. Tell us