[applause] good evening, im delighted to be in houston, always delighted to be in houston and its almost always a good space so i want to take you back to sunday afternoon, july 20 1969. It was about 2 15 central time. Neil armstrong and buzz aldrin were in their spaceship, they were in the lunar module. They were getting ready to fly lunar orbit, from an orbiter on the moon to Tranquility Base. And that last leg of the 240,000 mile journey takes just 13 minutes from the thousand feet to the surface of the moon. The first three minutes of the 13 minute went perfectly normally. The last 10 minutes were a cascade of problems and you might not have even noticed problems if you were listening live because thats the way after not adMission Control work. The first problem was that as armstrong and aldrin down to the moon they were looking out the window. Armstrong discovered the place they were intending to land was strewn with boulders between 10 and 20 feet. They were boulders as big as ho
And the nasdaq tumbled 1. 05 , you need to understand this is a redistribution its not a bet on the future, its a wager that some earnings estimates are going higher while others just stay the same and judging by the intraday reversal, investors are starting to realize that we may be a little too enthusiastic about stocks in general. Even if some do deserve to be higher because of changes that are going to be made to taxes in this country today truly brought a bifurcation in stocks. The action was 100 about tax reform Domestic Companies get a big cut while more internationallyoriented Companies Like most of tech see much less of a benefit sure they can repatriate capital from overseas at a better rate, but the real benefits here are for the purely domestic players. Its Like Congress has waved the magic and with and every cable company, railroad, retailer, restaurant as well as a smattering of industrials that have great u. S. Exposure and that has radically raised earnings for 2018. No
Engineering giant plans a 3 billion buyback. Welcome. This is the pulse. Mario draghi is speaking in the European Parliament right now. Pastid that q. E. Will run september 2016 if needed. Aredownside Economic Risks visible. His comments had driven the euro lower against the dollar, sterling and yen. The fed is, as expected to hike rates, widmark the First Time Since 1994 there was Monetary Policy diversions between europe and the u. S. Back then, janet yellen was teaching at university. Mario draghi was a senior Civil Servant in the italian finance ministry. Europes benchmark break was set by germany. That months, the fed boosted benchmark rates to 3. 5 . The Buddhist Bank cut its discount rate by half a percentage point. Cut itsundesbank discount rate by half a percentage point to it who better to discuss these issues then my guest. The founder and managing director. Richard jones is in the house, from the bloomberg first word team. We heraard from you before. You are listening to dr
Remember when they were negative and people wondered why this stock has roared from the lows in the 90s to 180 since east brook took the helm. Tuesday we hear from freeportmcmoran. Their woes were chronicled in todays new york times. Many think this is holding on by a thread. Maybe they have a plan to get more solvent and reveal it. Dont hold your breath. How about the two dow jones stocks that report tuesday morning, Johnson Johnson and procter gamble. J j told you things were fine but ever since ceo alex gorsky took the reins in 2012, weve been pining for bet years. Its ok to own and better to buy on weakness. After the bell we have the most widely anticipated quarter of the year, apple. And i have to tell you that this Company Stock has become a football thats getting kicked earlier this week an influential apple analyst at ubs told you to be careful saying the down side risks, even into the sickening decline from 134 to what was then 95 still arent baked in because cell phone sales
United states. Since were obsessed with oil and schlumberger soared after last nights earnings well have to parse that report closely. Next, the company with the steadiest stock is tissue maker Kimberly Clark and if you want to hear why, listen to their earnings call. But if you want pure electricity, we also get results from mcdonalds where i bet ceo Steve Eastabrook announces the numbers of 4 same store sales. Remember when they were negative and people wondered why this stock has roared from the lows in the 90s to 180 since east brook took the helm. Tuesday we hear from freeportmcmoran. Their woes were chronicled in todays new york times. Many think this is holding on by a thread. Maybe they have a plan to get more solvent and reveal it. Dont hold your breath. How about the two dow jones stocks that report tuesday morning, Johnson Johnson and j j told you things were fine but ever since ceo alex gorsky took the reins in 2012, weve been pining for bet years. Its ok to own and better