Earnings season when theres too much to keep track of and the action seems to stop making sense. The dow gained 46, the s p advanced and the nasdaq climbed up, you have every right to be extremely frustrated stocks that should be going up are going down stocks that should be down are going up human sacrifice, dogs and cats are living together, mass hysteria theres a method to that markets madness you need to understand it. Otherwise, youll have no idea whatsing if on whats going on a close investor is a bad investor so let me walk through some of the craziest examples. Im going to start with caterpillar. Caterpillar, the stock huge shortfall in response of course the stock correctly plunged 6 in Early Morning trading. Well, i thought it was a bit of an overreaction, nothing unusual about a stock going down in disappointing numbers is there its what happens next thats should we take our cue from this hard to explain. Cat down 6 and slowly rebounded. If you saw it near the low, this is a
Amazon, the latest in the eu cross hairs, facing a probe over possible anticompetitive Business Practices. Plus, ralph lauren and le le strauss in the red, both downgraded to sell at Goldman Sachs. And a tariff fueled strategy shift. Apple reportedly set to begin trial production of air pods outside of china and into vietnam. Another case of big tech under International Scrutiny amazon facing a formal eu antitrust investigation into its dealings with third party merchants. European competition commissioner margaret says based on the commissions preliminary fact finding, amazon appears to use competitively Sensitive Information about marketplace sellers, products and transactions on the marketplace and response amazon issued a statement saying, quote, we will cooperate fully with the European Commission and continue working hard to support businesses of all size and help them grow. This is the last thing some of these companies i would point out that they just brought an agreement with
Well, that big tax bill is all set now. Republicans releasing tonight their final signedoff draft of the most sweeping tax rewrite since 1987. And it appears tonight that some lastminute dealmaking flipped some no votes to yes, securing what is evidently enough gop support to turn you tell 503page overhaul into law. The holdout, marco rubio of florida, got on board when the childcare tax credit was expanded. Tennessees bob corker did the same, saying he believes the bill was a once in a Generation Opportunity to help the economy. Tax reform . Some say it isnt exactly that. But what it is for sure is a huge 1. 5 trillion tax cut with much of the benefit flowing to us corporations. And on that, the major stocks indexes rose to record highs. So whats whats out . Ylan mui knows it all, shes covering the story from capitol hill, where i think youve pitched a tent the past few days, ylan, good evening. Reporter its been some long days, and long nights as well, tyler. Republicans just filed t
Sara eisen. Good morning. Happy holidays. Happy holidays indeed getting closer to christmas morning. Thats trading on the markets. Well come in in a moment. Travel alert things slowly starting to come back online at atlantas heartsville jackson. More than 1,000 flights were delayed or canceled. The timing couldnt be worse well have more on that in just a moment first, lets get a check on the Global Markets this morning. Weve got green arrows really across the board as u. S. Equity futures point to a higher open dow futures are up by triple digits right now indicating an open at 138 points higher. S p 500 futures poised to open 14 points higher the nasdaq poised to open 51 points higher. This, of course, after record closes for all three of those indexes on friday as everybody is sort of focusing on tax reform and whether lawmakers will pass that through before christmas this week. Absolutely right. Fridays section slightly flat on the week as a whole up over 1 the s p is up less than 1
Check things out today because we have now seen already 69 record closes for the dow this year if there is another record close today, as you would indicate if you see these gains again, this would be the most record closes weve ever seen in any year for the dow. Last record watts set in 1995 and that was a record of 69. The s p is already in record territory. Weve seen 61 record closes for the s p and thats compared to 18. The dow indicates almost 24,800. You see what im looking for. I cant see your screen. Its a map of south america because the train the sorkin train was oh. No, no. You said san paulo. I was down in san paulo where am i now youre down across from the falklands. The train is. Youre still here youre here i missed the train, as you know youre still in jersey, i think, camden or something not even. I havent left the island of manhattan. Seriously. Im stig thinking im like just hanging outside of penn station. The sad thing is, i had to look to figure out which one i knew