Good wednesday morning. Welcome to squawk alley. Carl quintanilla with Kayla Tausche at post 9, and mark santoli. Donald trump making two key cabinet nominations they morning. Lets get right to our john harwood outside trump tower with all the details. John . Reporter carl, these are two of the big ones. Steve mnunchin has been selected by donald trump to be his nominee for secretary of the treasury. He, of course, is a former Goldman Sachs partner who was the fundraising chief for Donald Trumps campaign. Also, wilbur ross, who is going to be the commerce secretary, billionaire investor, well known to viewers of cnbc, neighborhood of Donald Trumps in florida where he has his marioa lago estate 37 and he moderated the trump economic message in a few ways. Instead of talking about outright scrapping dodd frank, as donald trump did during the campaign, Steve Mnunchin talked about modifying parts of the law that discourage lending. Thats one signal. Secondly, donald trump said during the c
Platform and calls Hillary Clinton in a bad trade. We are about 30 minutes into the trading day in the julie records where they were yesterday. This is a lot of more morning. We had Housing Starts rising 2. 1 , better than estimated for the fastest pace in five months and Consumer Prices were not changed last month and then there was bill dudley, the president of the new york fed, saying in an interview that we are getting closer to a rate increase. He says its a possibility it could happen in september and he says the market is becoming too complacent. Futures had been down and they went another little bit lower of the samepart playbook we have seen over the past month. Every time the s p has closed at a record, it has fallen the next day. Monthst have the past action in the s p and in yellow are these debts that are circled after a record. If you look at midjuly and nextng the next thy the day. Were seeing this pattern play out once again in todays session. Were looking at the 10year
San francisco fed president John Williams says Monetary Policy needs to be reimagined to deal with a new normal. Shirt of the tubing Percent Inflation target be scrapped . Caroline should we look at the record highs we closed out in the United States, because we are seeing a little bit of risk aversion, money coming off the table when you look at european futures. Russia seems to be at a record high. Today, money coming out of the riskier equities, but there is m a action happening in germany. It looks like we could be following oil lower. Guy we are going to keep an eye with oil having a fairly bouncy time. Lets take you to the gmm function, a good headsup to what is going on around the world. I want to focus on what is happening with the yen, the yen really under pressure. You can see its really welded. The yen moving up 1 this morning. We are flirting with the 100 line, the boj paying attention. The nikkei has responded by going down 1. 22 . Youve seen some fairly interesting moves
Company is still far from overcoming this. Welcome. Happy monday. Back and locals volatility is unraveling. The volatility is up and they finally broke out of above or below and this changed with the s p 500 utility index. This is a correlation we are keeping an ion. And this negative near is a huge flashing signal. The dollar and commodities are down. The question is if it is a temporary movement or baker. We have seen the volatility increase and a lot of people are concerned about this. What take a look and see is happening with global stocks. And the indexis we arer for the u. S. And and wehat the yield is saw the increase on friday and manus was talking about the correlation breaking down and we and a 10ates go higher year yield go above zero. You can see the stronger dollar uan was south korean you down and north korea was doing nuclear tests. Andant to bring up crude producers increased the drilling risk incan see some this market. You. Ank clinton has canceled a trip to californ
Good morning. Welcome to worldwide exchange, im sara eisen. Im willfred frost. Lets check in on the Global Markets after another selloff on wall street. Energy bore the brunt of selling yesterday. Futures looking calmer this morning. S p 500 futures up 6. Nasdaq futures up 17. Here we go again, on again and off again risk aversion. The volatility is back and moves are getting bigger. Were not seeing a triple digit move in dow futures. We saw that yesterday and the day before and the day before that. Well see if this relative calm lasts. The futures market has not been a good indicator of the days trade ahead. Whether the futures have been green or red, weve led to some quite significant declines. Do keep that in mind as we get closer to the open. Yesterday big declines across the board. Tech was the relative outperformer, only down 0. 6 . Apple significantly gaining. It was the only stock to be up on the dow after some of the Telco Companies released early sales figures for the iphone.