Ewsprint t tenants names carl icahn to head of his deregulation campaign. And Peter Navarro to head a new trade counsel in the trump white house. That is what you need to know at this hour. Bankthe future of italys with lisato milan martin. Have we got any color on what the plan is from here . The next 40 hours will be critical. Paschi, the indication at the moment there isnt much there. The bank will seek some kind of government intervention. The bank as a Firm Deadline by the end of the year to offload a significant amount of bad debt. What we expected here between now and friday is the government approving a decree that will set up the rough outline of how it will put up to 20 billion euros on the table for monte paschi but potentially for other lenders, too. Jon with the prospect of state aid on the table, how do you implement burden sharing and protect bondholders as well . How do you do that . This is what is going to be key. What we have seen in similar situations earlier this y
November personal income unchanged, coming in with no change at all. The forecast change up. 3 or 1 , personal spending weaker than estimated, up to this. 1 ,. 3 of 1 was estimated. We look at the socalled pce, personal consumption expenditures, that is something the fed watches and that comes in with a yearoveryear change of 1. 4 on the core bases of 1. 6 . The federal reserves target is 2 . Something to keep an eye on. We also got the leading economic indicators, that also coming in unchanged. Brd got data earlier this with gdp at the point that percent and other numbers as well. Heavy Economic Data day, but is Anyone Around to traded, abigail . Action, not a lot of the dow and s p 500 and nasdaq in small declines. The volumes similar to yesterday. We arrived out of the gate and looks similar to yesterday. Low volume and not a lot of trading but we will be here to watch and see whether or not the averages can creep higher and we may see dow at 20,000, time will tell. We will happen t
Julie the worst week since early february. It keeps accelerating as we had through the session. The nasdaq has consistently been fearing the worst, down 1 right now because we have a drag from large cap tech stock that has been declining. We saw a rebound in european stock and commodities. That is not happening in the u. S. Markets. Take a look at the s p over the course of the day. Stocks opened, they were not down nearly as much. If you take a look at the bloomberg to see the groups on the move, energy chairs and gains we see in oil prices. Tech and Consumer Staples are dragging the most. Particularly tech. Apple is leading the losses within technology after a court ruling in beijing that said the company violated a chinese phone patent. Apple says it has appealed the decision but there are still sparks of concerns. And microsoft have also been declining today. Oliver this has been the week of the vixx. It is interesting, you see the divergence between the u. S. And europe. Up hereei
Trading day. This jobs data, lets head straight to the desk. I am looking at the markets right now, and although its early, we are at session highs right now. This is where we stand because of that seller jobs data that did come out at 8 30 a. M. The dow, s p, and the nasdaq are all up on the order of. 7 or more, nearly 1 higher for the nasdaq. The s p 500, look at this number, actually that is now our new record intraday high off of that jobs data. Lets see whats been happening in terms of the pop we saw. Lets take a look at an e. S. A. N terms of the last few hours. This came in right after the jobs data, short of 55,000, a jobs reporter for the july, and we saw that coming in, out 2160, past the mark, and were just up near those record highs. This is where we stand. In addition to that, weve got some earnings to tell you about as well, as something happening in the cancer drug industry. This has to be with bristolmyers squibb, down 17 . It turns out its lung cancer drug failed in la
Where Ramy Inocencio has been tracking the followed from the betterthanexpected jobs report. Ramy looking at where we are right now, we are just off of session highs. I want you to look specifically at numbers for the s p 500, as well as the nasdaq, on pace to close at all time record highs for both indices. The s p 500s highest previous therd high was 2175 and nasdaq was 6218. We are still 90 points away from the dow record high, but still up by more than 150 points on the day because of that stellar jobs report. Function,e imap looking at the Sector Health of the s ps 10 sectors, seeing broad rallies across the board. Utilities and telecoms are laggards, but financials saw the biggest jump, 1. 65 because of what happened with the jobs data consumer discretionary. Informationtechnology up 1. 1 . Take a look at a deeper dive into financials. Across the financial board, it is in the green. Financial up 4. 4 . Bank of america and citigroup all up, seeing their biggest jump in five weeks.