Sliding along with the u. S. Dollar. The u. S. Dollar is at a fivemonth low because of the interview President Trump gave setting the dollar is getting too strong, and i like low Interest Rates. Well talk much more about this. The dollar is stronger now against the euro. 1. 06 against the euro. Weaker against the yen. 108 yen for the dollar. On todays mick ageeconomic, look for reports on weekly jobless claims Producer Prices and consumer sentiment. Markets are closed tomorrow for good friday. But its not a federal holiday. So the government will release data on retail sales, Consumer Prices and business inventories. Ill roll up to my office in my house, report the news on my video camera. The banks will officially kick off earnings season this morning with results from jpmorgan, citi group, wells fargo, and pnc financial. Wi Berkshire Hathaway is selling 9 million shares from its stake in wells fargo. Berkshire says the sale is not tied to the banks sales scandal. It is selling the sh
Good morning. Welcome to Worldwide Exchange on cnbc. Im sara eisen. Im wilfred frost. Very good morning to you from me as well. Lets check in on the global markets. After a triple digit decline yesterday and some ugly earnings from ibm after the bell. Thought it would be a big drag on the dow, especially when it was down about 6 . Dow futures are holding up. They are unchanged right now. Just barely positive. S p futures are up 5. Nasdaq futures are up 12. Broadbased selloff yesterday. What seemed to get a lot of attention was the bond market. Tenyear yield ever lower, moving to a low yesterday of 2. 16. Theres continued veracious appetite for u. S. Government debt. The word on the street yesterday, increasing concerns about a government shutdown. Remember next friday is the deadline for a spending bill. Will republicans end up passing it. Theyre on recess now . They have a few days when they come back next week. Thats one concern out there. Theres a number of them. Theres a big dip in
Tripledigit gains for the dow, the s p and nasdaq are surging as well. Financials, industrials and the semis are among the best performing sections today. Check out the big movers at this hour. Footlocker is up more than 5 near session highs. Thats a big reversal from its premarket declines after the retailer warned. Then it got an upgrade. Its a very strange story, but the stock is up sharply today. Verizon under pressure after missing profit estimates this morning and snapon is rallying another 5 on its earnings beat today. Here is whats else happening at this hour, activists investor is turning up the heat in its fight with buffalo wild wings. Calling on that restaurant and chain to replace its ceo. The stock up over 5 right now as a result. And a day after being removed at fox news, our julia is reporting that bill oreilly is going to receive a maximum of one year salary as part of his exit. That salary has been reported somewhere between 20 and 25 million annually. And this is rea
Up by over half a percentage point. Lets tell you about the top three stories that were focused on this morning. They all about regulation. The top one, pfizer and allergan will be mutually terminating that 160 billion transaction following the new inversion rule changes. Sources tell cnbc that pfizer will pay allergan a 400 million breakup fee as per that tieup agreement. Both companies believe the treasury overstep the bounds of its Regulatory Authority. Sources say neither drug maker wanted to risk launching litigation against the government. President obama weighing in on the Treasury Departments new steps to stop corporate inversions. Ive been pushing for years to eliminate some of the injustices in our tax system, so im very pleased that the Treasury Department has taken new action to prevent more corporations from taking advantage of one of the most insidious tax loopholes out there and fleeing the country just to get out of paying their taxes. The president called on congress t
Years. The bounce back has been sharp and swift. Since the lows on february 11th, the major indices is up 7 or more and oil has gained 35 . Whats driving the rally, and has the market entered a new phase . Bob takes a look from the new york stock exchange. Reporter the market has entered a goldilocks window. The most Important Development is commodities have put in an intermediate term bottom. Iron ore has rallied dramatically in the last few days. This is positive implication for earning. Its good news for energy and material stock. They led the rally. Its also eased some of the worries the loans to banks have out to Energy Companies and its dramatically decrease worries about an out of control deflationary spiral. Its also helped greatly reduce the fears that some kind of global recession might be imminent. Thats led to a huge rally at emerging market economies with russia, brazil and south africa all up double digits in the last few days. The market has come to strongly anticipate t