Prepared is the market for a hike . Financials are the only sector still in the red so far this year. Were going to talk to barclays banking analyst about where theres some opportunity. And our new Digital Series binge launches today. We talk to marquee names in the world of media for an inside look at whats driving our binge culture. Well give you an inside look at what to expect. First up investors focused on speech today set for fed chair janet yell. How the future impact Interest Rate decisions if you listen to some today maybe the chop in the data doesnt necessarily dissuade them from a june move. No, not one month at least doesnt dissuade them. I think the question has to arise exactly how much more data are we going to get before the july meeting that would actually give you assurance that it isnt the beginning of a trend. The fact that markets took it in stride relatively speaking, at least the stock market really just held in there, buying panic and treasuries of course. They
Composite up even more 1. 35 . Materials and financials leading the charge as you see right there. And this rally could keep going, thats the question, will it . As we close out this quarter. Were very close. Bob pisani on the nyse floor here to explain. Hi, bob. And the important thing is weve stopped having an influence from brexit and seem to be looking at people picking up bargains right now. Lets take a look at the markets midday. Weve got an end of the quarter rally going on 8to1 advancing declining stocks, thats better than yesterday. It was 6to1. Volume again on the heavy side. Buying interest with heavy volume, stocks up good indicator overall. And volatility, the vix is back to prebrexit levels, back to levels it was last week prior to that vote here. Number of beaten up sectors are rallying. Weve had quite a rally in commodities and commodity stocks. Look at this south africa, this is an etf, brazil is up, steel stocks are up 3 , oil and Gas Exploration and production stocks
The markets. Jp morgan did not use brexit ate my homework as an excuse to imply lower numbers. Jp a lot of people were nervous, they did not take that bite. A great relief. Financials up right across the board. Earnings trends, only a few of them have been beat. And i want to show you whats going on here. Since these companies started reporting, this has been their stock prices. Alcoa, delta, jp morgan, every single one of them. Lets take a look at the banks. It is very traditional for banks to go up a little bit. Thats jp morgan and sell off after it. And banks are leading, up about 5 . So far just this week. The head of the Worlds Largest asset manager getting a little worried. Heres larry fink on squawk box. Here we are. Were seeing investors worldwide pausing. We have seen quite a large sum of money being pulled out of equities over the last year. And yet were at record highs. This rally in my mind is not i dont think we have enough levels to justify at this moment. Reaction now. G
Julie i want to look at facebook. The shares dropped suddenly just in the past 15 minutes. They are bouncing up off the bottom of little bit. There is some talk, i saw some tweets about ad spending and figure out exactly what might have been said to cause the decline in the shares. The reversal, really they are down 1. 6 percent. We will keep digging and bring you an update when we have news from that conference. For a look at the broader markets, we are seeing a rally across the board. We see a gain of 1. 2 in the nasdaq. If you look at the dow, the dow is also up. 8 . We have been seeing a range earlier in the day and a leg up around 11 30. Jpmorgan is a big part of what is going on in the dow today. The earnings falling yearoveryear and trading sales falling euro per year that all of the declines were smaller than analysts had been estimating. Jpmorgan has actually been building on its gains throughout the day. This may shares are rallying. Jpmorgan is raising the analyst estimates.
Yellen, bernanke, volcker and greenspan speaking at an event last night. Hank paulson coming out swinging against actions his former agencies took on former tax inversions. Shares of gas down big after reporting march was a challenging month for the retailer. Well look in on the state of retail. Just days after the Treasury Department announced new rules which had the effect of breaking apparent the giant deal under which pfizer was acquiring allergan, hank paulson was on squawk box and said Companies Need to pay their fair share when it comes to taxes but also criticized the Treasury Department. Were a nation of laws and rules. You cant change the rules you shouldnt be changing the rules after the facts and changing them and changing them and changing them again. That is something that ian reed, the ceo of pfizer said in an oped yesterday and something that brent saunders, the ceo of allergan said on this set a few days back. Theres been across of criticism at treasurys move and seems