And welcome to power lunch. Eye melissa lee, your money carving out some small money today, and russell 2000 at rosh highs. Its a global rally. Lets check out bitcoin is bouncing back after falling below 10,000, Goldman Sachs say its a bubble bigger than the dotcom era and famous tulip bulb mania, and p g was down travelers rallying by almostsh topping expectations tyler . Thank you very much, melissa. Welcome, everybody we begin with a major decision from the white house the administration saying it will slap tariffs on solar panels and washing machines. If youve got a solar powered washing machine, you are not, kayla, going to have whiter whites Kayla Tausche is at the very white house with more. Reporter those tariffs are steep and final. For companies outside the United States empowereding washing machines into the United States theyll sue new tariffing between 20 and 50 , depending on the number of washing machines they are importing. For components that 50 . For solar part manufa
Panels effective february 7th, the result of a months long investigation by the bipartisan trade commission on washing machines, nonu. S. Importers will be charged 20 to 50 per unit depending on the volume of the products they are importing. Goldman sachs estimates the price tag a shopper will see will raise anywhere between 8 to 20 in the absence of these highvolume cheap products from overseas the administration on solar panels is adding a 30 levy. It declines over time and it will benefit u. S. Manufacturers. But companies that install solar panels will see their prices increase that led South Carolina congressman mark sanford to call the tariffs shortsighted and said his state would lose over 7,000 jobs in the Solar Industry as a direct result of these tariffs. This afternoon at the white house, President Trump said he expected the move would create jobs our companies will not be taken advantage of anymore and our workers are going to have lots of really great jobs with products th
Airlines are raking in money for the ancillary fees. Details on which carriers are bringing in the most cash and where that money is going. It doesnt grate me that tch much. Charge us airfare and leave the fees behind. One price for everything. I dont know. A la carte is nonsense. Hundreds of stocks experiencing a selfcorrection. Some reporting earnings this week as earnings season gets into full swing. What you guys are paying in california, i dont envy you that. Lets get to the story on greece. Bailout, deal and reaction from germany which is very important. Our chief international correspondent, we are going to refer to her as the Athens Bureau chief michelle carusocabrera. Steve liesman moved to berlin. Michelle, happy monday. Its an unwanted title. Its not a done deal yet. Alexis tsipras back in athens today has to rally the parliament, bring them together and get them to pass a key number of reforms when it comes to pensions which will raise the contributions that the people in g
Data and they have a different much smaller number. Stephanie say it aint so, mr. Trump. Time to give you the top stories 32 big drugmakers reported earnings. Pfizer posted secondquarter revenue and profit that beat analyst estimates. Sales of its new cancer drug rose. Meanwhile, mercks secondquarter profit fell. Merck also raised its profit forecast for the year. The profits surge in the second quarter. At ford. Earning has rose 44 beating estimates. The reason, the demands for the numa aluminum bodied f150 pickup. Discounts on the truck after sales fell last month. The sales account for 90 of 40s profit. Ford said it will be september before the fully stocked. Matt i like the idea and i will get you one third you deserve one. President obama is wrapping up his five day trip to africa. Today in ethiopia, he warned African Leaders that the continents economic progress rests on a fragile foundation. He said something must be done to provide opportunities for young africans. President ob
Streak since january but are rising on better than forecasted earnings and we have lots of earnings to go through. Andre talking about china how it stabilized one chinese plunged after lower sales, trading almost 20 lower from yesterdays close. Its the biggest loss since 2009 for the company. Moving onto oil and gold we have seen a commodities route. Oil prices are rebounding and oil is trading near a fourmonth low. Down 19 still trading near the bear market of 20 territory from its may peak. Pimm lets take it check of the treasury market. There is little bit of selng on bonds. The 10 year is 2. 25 . This is over the past week and we can see a decline in the yield meaning the prices were a bit up. The intraday is moving a little bit higher with selling in the 10 year coming as the Federal Reserve began to two day meeting to consider raising Interest Rates. Lets take a look at the dollar and major currencies the euro is losing ground against the dollar. Poundn is stable and the sterling