The deduction for state income tax, thats a very big deal, look like its gone. Deduction for property tax, probably stays. Middle america gets help and so does business and 1 does not. Apples profit after facebook, amazon and microsoft, warning, dont disappoint, investors would slam apple and maybe the rest of the market too. It was the profits, huge number, 575 billion. Thats how much the value of stocks went up in october. Wow, indeed, ashley. Thats how a rally translates into dollars and cents. And then theres the federal [laughter] stuart i knew it was coming. Federal reserve, a new chair to be announced today. We are told it would be jarome powell, thats the judge, by the way, the most powerful banker of the world. We will leave it at this, powell raises Interest Rates slowly. Got it. [laughter] stuart done. Varney company is about to begin. Because of the sanchez success. Here is a ground ball, right side could do it. The Houston Astros are world champions. Stuart there you have
Welcome to squawk on the street. Im Carl Quintanilla, david faber, jim cramer at the new york stock exchange. Get to wells in a moment. Premarket weak on the back of disappointing chinese trade data, renewing concerns about global growth. Europe down more than 1 . Yields here falling back to 1. 75. And oil still fighting it out just above 50. John stumpf said departure comes amid that scandal thats engulfed wells fargo. Tim sloan is now the new ceo. Sanger will be nonexecutive chairman. Jim, happened suddenly, tensely worded press release. Your thoughts after seeing that tape. Well, first, when i asked stumpf whether he would resign, that was regarded at that moment as a radical question. Almost idiotic. People said what are you kidding me . Jumping to conclusion. And i just felt that the way went through the crisis the crisis is a very simple lesson. You lose your job whether you know about what happened underneath or you dont. Now, you can say jamie dimon didnt lose his job, very dif
Look into the future. Today kicks off with a focus on investing. Our guest today is Hedge Fund Legend leon cooperman and gabelli and rick rieder. Were excited to bring you this conversation all here at 8 00 eastern time and later this week, president ial candidate jeb bush and bill ackman but first lets get you up to speed on todays headlines. So that was the 20 year i thought it was 20 years since we had all been here at the same time. Three months. No, three months. Summer is up. Beginning of game day. Its a feel good song. We are united. We have not seen each other for weeks. Lets get caught up this morning. U. S. He equity futures. Here it s. Well show you whats going on. We are rallying this morning. Dow looks like it would open up much higher. S p 500 looking higher as well. Another volatile trading session but by the end of it things were looking up there as well. Chinese stocks rallying into the close. The top economic planner approved Railway Projects worth nearly 11 billion.
Record highs for stocks, jobless claims out. Mario draghi speaking now in frankfurt. Cbs revealing terms of live treeming. Tesla reports record deliveries. Losses mount. Both stocks are in the green before the open. A lot for investors to digest this morning. The ecb keeping its benchmark Interest Rate at record lows. Ecb president draghi says the central bank expects to increase the size of its Balance Sheet toward 2012 levels. Opec cutting its Production Forecast project the it would fall by 2017. In the states, did fall. The Second Lowest level this year. Comes ahead of tomorrows key october jobs number. Between gas prices, jobs market, the market, politics, things are suddenly working in ways they werent a month ago. I had the ceo of Marathon Petroleum on. He is the best keeper of the number. Has 8,000 gas stations. What was so incredible was he said youre just not being bullish enough about what happens in this country when gasoline goes down. Maybe youre not bullish about whats h
European headquarters. Caroline francine we are getting data we have been expecting on the u. K. A little later on in half an hour. The pmi has fallen to 54. 1. We have had growth forecasts for gdp. It is pointing towards greener chutes. We have had a strong spanish number. The french number was actually surprising with the upside and the preliminary number picks up little bit on the confidence level. They german number was a miss and that is what is striking down the aggregate number of cross the eurozone. Francine we are keeping an eye on this and tomorrow is a huge day. Guy johnson on the last day of campaigning, no clear front runner with three polls overnight showing conservatives and labour neck and neck. Lets get to westminster and anna edwards. What is happening . Anna edwards the final day and tomorrow, the election takes place. There will be mps elected to the house of commons. Before that, the final push is underway. The candidates and leaders of the parties are visiting the