Lets get straight to the top story. Fed chair janet yel hn the floor yesterday, and she made it clear she isnt on the same page as her hawkish colleagues. Shes moving ahead carefully with the Central Banks decision on future rate hikes. In particular, developments abroad imply that meeting our objectives for employment and inflation will likely require a somewhat lower path to the federal funds rate than was anticipated in december. Given the risk to the outlook, i consider it appropriate for the committee to proceed cautiously in adjusting policy. Her dovish tone lifdhe dow and the s p, both indices posting their highest closing levels of the year. The s p is now up half a percent for 2016 as a whole and has fully recovered after seeing its worst january since 2009. Lets have a look at futures at this hour. Were expecting that positivity postyellen to continue. The dow called higher by 93 points. The s p by 11. The nasdaq by around about 25 points. Lets also have a look at the bond ma
For a record of its own trying to close higher for a tenth straight day. That would be its longest win streak since july 2009. Investors encouraged by Janet Yellens hints to congress that the fed will probably start raising rates later this year. What does jim grant say about all this and is he behind the audit the fed movement . Well talk to him about that when jim joins us coming up. By the way, 10year has moved lower, comfortable ablably below the 2 level. Were at 1. 98 and change. 2year note auction after the testimony, then the 5year is at 1. 46 . 10year at 1. 99 and 2. 60 on the 30year. Were getting so used to this volatility but it is really unusual, especially on a comparative basis for how lowther here. Big move after janet yellen today. Lets talk about it in our closing bell exchange. We have renee norris from urban wealth management, Quincy Krosby krosby, Jim Osullivan sitting in my chair at the new york stock exchange. John manly from Wells Fargo Funds Management and Kenny
Japanese gaming unit now forecasts an annual operating loss. And intels Fourth Quarter figures missed forecast. The Company Giving Fourth Quarter guidance raising fresh concerns about global i. T. Spending. Hello. Warm welcome to the presume. Plenty to get through and lots of news. Also coming up on todays show, as taper takes its toll, Goldman Sachs speaks income trading, well speak to the ceo of the International Giant about the impact of markets. Hell join us at 11 20 cet. China mobile is now selling the iphone 5 after six years of negotiations. Well have the latest from beijing with all the action. Thats at 10 45 cet. Is nintendo losing the game . Japanese gaming giant has delivered a profit warning on weak, weak console sales. Well get the full story from tokyo in around 30 minutes. Intel has posted a slight miss in its profits. Investor sentiment will have a closer look in the second hour of the program. And just a little south in sunny l. A. , were going to roll out the red carp
Happen until the gop agrees on a tax hike. Senator dick durbin saying no deal on the debt without a tax hike of the wealthy. I cant tell you, i dont want to do it, the president doesnt want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. Some suggesting that it might be better to cave to the president now on taxes and keep up the fight on spending. If we were to pass, for instance, raising the top two rate and thats it, all of a sudden we do have the leverage of the debt ceiling and we havent given that up. Meantime, one influential voice says enough is enough. Thats like betting your country. Theres something terribly bizarre and juvenile about that is to think your party comes ahead of your country. I dont go for that at all. That, of course, was alan simpson, the other half of simpso simpsonbowles. Erskin bowles will join us this morning, as well. If you have the democrats quoting him, the republican
This could be an indication that the market is expecting that number to be stronger than 200,000. If youre looking to track the money trail, taking profits after stellar stock market gains in 2013. In the meantime, 1. 6 billion was poured into taxable bond funds. Lets take a look at the tenyear. At this point, its yielding 2. 968 . So still below 3 . Thats significant, too, and something joe is watching, as well. Andrew, over to you. Alcoa used to be the dow component, we used to care so much about it. Theyre reporting Quarterly Results after the close. Earnings falling two cents below estimates. The Company Issued an outlook for stagnant growth in the global aluminum demand. And the ceo was on closing bell yesterday afternoon. We continue to invest in large future opportunities. Automotive being one. Right . And that is a great one thats coming up there. We continue to invest in aerospace with aluminum, lithium, new products coming out there and we continue to invest in bringing down