Baby taxman, but the crackdown in recent years has put tanks bangs on the firing line. Today was Credit Suisses turn to answer. Showedt 200 pages worth tax evasion. Is match as 10 million was hidden assets. The vast majority of accounts were shielded from the irs. That brought the ceo and other top executives at swiss holes of the congress. Books are investigation chronicles the uneven and halting progress made in identifying u. S. Taxpayers who cheated uncle sam by using offshore accounts. A bipartisan report that were releasing today sites chapter and verse the failure to collect taxes owed and hold accountable the u. S. Persons who evaded their Tax Obligations and the tax havens who helped them. We learned of one swiss anchor who met with the u. S. Client over breakfast that he was luxury hotel and slept the client Bank Account Statements in between the pages of a Sports Illustrated magazine. Instanceslarming belong in a spy novel, not at one of the worlds top tanks. Betweensay your
Month well below the forecast of 200k and the Unemployment Rate falling threetenths of a point but the decline was largely as a result of people, jim, who are leaving the workforce. Right. You called it an outlier a few moments ago. Outlier, but one thing i learned about the numbers is when you get an outlier, the market still trades off it. We can i say dismiss it and throw it away, bonds are soaring and Interest Rates are down. Maybe were in a bad news is good news moment because Interest Rates will come down. The last few mortgage numbers have been okay. The refis are bad. This is helpful for housing. But if we dismiss this number, then we should dismiss the 300,000 numbers. You cant play that game. You cant decide, you know, this number ill throw away. Its a real number and its a bad number. Well talk to secretary perez later in the area. The Participation Rate and the loafest since 1978 and the seasonal quirks, january, february can be weird. Not to excuse the number. No, no. Abso
They make of this activity. Earnings looked pretty good this morning. Kind of mixed. Retail sales figures for december okay. Decent. Not horrible, but okay. And we had a lot of fed speak as well today. Charles plaser saying it is clear that the fed is tapering and is going to do away with quantitative easing but theyre in no hurry to raise Interest Rates. And a couple big interviews coming up on the show. Wells fargo among the banks kicking off a flurry of financial earnings this week. That company beating estimates. Mortgage loans fell to levels not seen in five years. How much of a worry is that . Well ask tim sloan in just a bit. Look forward to that. And tesla has been a huge winner an reporting much better an expected Fourth Quarter sales numbers, but buckle up. Weve got ceo elon musk coming along to tell us about those record numbers as well as the automakers do you use the word . Recall . Upgrade. Its never easy with elon musk. According to the federal trade commission, its a re
Not much of a market move, but still five in a row. Reporter yeah, well, five in a row to the downside. Yeah. Reporter the bottom line here. The dow jones industrials, up modestly 45 points in the middle of the day, and ended slightly in negative territory. If you want to know, what happened in the last hour, because thats why im here, folks, exxon. It did it again. Look at this. There it is. Are we down . Down. Exxon is down 19 out of 20 days by my count. And, yes, yesterday was 18 out of 19. Theres your problem. Energy stocks, chevron was also weak throughout the day. Volume picked up. Lets move on here. One of the reasons we were calm throughout a good part of the day is the 10year flat lined. Look at that. Its just about a flat line here. The yields, i mean, on the downside. Prices on the upside. That helped throughout the day. It helped, also, that emerging markets were a little calmer. It was generally downside day in emerging markets, but a little calmer. Theres the eem, the eme
See the difference . Germany, france, and the netherlands all beating the forecast. The Italian Government grew the 10th of the percent. Assuming there is still an Italian Government. More on that later. I dont mean to be so cynical. Chinas Consumer Prices, meanwhile, that rose about 2. 5 and Producer Prices fell 1. 6 . 8 30 a. M. In the u. S. , import prices and 915 a. M. , Industrial Production and Capacity Utilization and finally the university of Michigan Consumer confidence. That is actually a big deal. Earnings before the bell. Campbell soup. Mm mm good. Lets get to this quickly. Lots to talk about especially on Time Warner Cable and comcast bid futures are flat. 10 year yield floats above 2. 7. The euro stronger again off of the better gdp data. Out to 1. 38. Range stronger euro. Lets go to foreign exchange. Better thanvix, good . Gold launches over 1300 a share. And, scarlet, chocolates at 10 00 a. M. After bloomberg surveillance. Coco is up today. Are you going to buy scarlet