Started, last friday we had the talk of inflationary pressures in the jobs report had people worried including the sky. The market was down 666 and you started to think about a new environment that might include inflation Rising Interest Rates and we got the week ending up back to monday. Thats when we saw the word volatility really spike to the top of your word search and people not only had volatility but they were betting against it. Those bets became unwound in these comp located Financial Products that neil has talked about so much that were created after the crisis and i got ugly as those anti volatility bats were unwound. Wednesday the volatility, the upanddown was still there but the market was down by only 19 points on the dow at the of today. Yesterday was interesting. People on wall street said a lot of people lost money in the portfolio because none of their trades were wor working. We were down a 18 in 2008. We ended where we are will probably have our worst we can the dow
Unexpected rant about gridlock in washington. Boy, was he well hear what he said. Well let you listen to it. And wells fargo shares are under pressure after the banks disappointing revenue numbers. The companys cfo will join us. And after the bell, paypals chief executive officer will join us in a cnbc exclusive. That stock hitting an alltime high earlier in the wake of its new apple partnership. Well get more details in the next hour. Lets start though with this news that broke in the last hour regarding sprint dow jones reporting that the Telecom Giants chairman engaged with Warren Buffett and cable mogul john malone about a cable investment those talks reportedly happened in sun valley, idaho, at the ellen and Conference Company conference where Julia Boorstin has been packing up and getting ready to go and hang around, julia. There may be more news breaking here so we all know that they were there but you havent been able to confirm whether the conversations we were talking about t
Fargos ceos compensation went up despite the sales scandal that shook the bank. We have more details on that controversial story coming up. But we start with the budget blueprint the white house ingave this morning. You can see the percentages there. Hes calling for cuts, meantime, at the Environmental Protection agency and the departments of state, labor, agriculture and commerce all in the range of 16 to 31 . We have full Team Coverage on which stocks stand to gain and lose the most from these proposed changes. Kayla tausche taking a look at infrastructure. Meg tirrell looking at pharma and health care. We got some glimmers of what the white house wants to do with infrastructure. Its proposing to end several projects. The governments proposing steep cuts to infrastructure heavy agencies and their programs at agricultu agriculture, cutting rural water program. And a billion dollar budget cut at the defense departments corps of engineers which maintains inland water ways like dams and
Nasdaq with its tech stocks. Four major stock market indexes hit alltime highs today. Here are the record numbers. The dow added 88 points to 18,956. 40odd points away from 19,000. The nasdaq rose 47. S p 500 climbed 16 and the small cap russell index of 2,000 Many Companies up 6. The broad rally hoping that it will invest heavily in infrastructure, a triple play that could spur growth. Todays run also helped by a rise in oil prices. That rise lifted energy stocks. Mike santoli takes a look at the rush of money into stocks. Reporter its a great rotation from bonds into stocks finally happening. The sudden surge in bond yields and expectations of policies under trump from bond funds into stock funds since election day. The latest week track, 18 billion flexed income fund while 27 billion found its way into equity portfolios. Thats the largest one hj week shift from wonder into stocks on record, according to bank of america, merrill lynch. Particularly popular, funds that invest in finan
Nasdaq with its tech stocks. Four major stock market indexes hit alltime highs today. Here are the record numbers. The dow added 88 points to 18,956. 40odd points away from 19,000. The nasdaq rose 47. S p 500 climbed 16 and the small cap russell index of 2,000 Many Companies up 6. The broad rally hoping that it will invest heavily in infrastructure, a triple play that could spur growth. Todays run also helped by a rise in oil prices. That rise lifted energy stocks. Mike santoli takes a look at the rush of money into stocks. Reporter its a great rotation from bonds into stocks finally happening. The sudden surge in bond yields and expectations of policies under trump from bond funds into stock funds since election day. The latest week track, 18 billion flexed income fund while 27 billion found its way into equity portfolios. Thats the largest one hj week shift from wonder into stocks on record, according to bank of america, merrill lynch. Particularly popular, funds that invest in finan