Were lockstep with europe this is a very big change. You pointed that out a number of times the tenyear note yield creeping up a little bit from the lows we saw last week. Maybe helping firm up the financials just a bit. You see crude there. We just heard, of course, from the treasury secretary of the United States, steven mnuchin. As they wrap up squawk box. Tax reform, its got to be the most significant item on the agenda you know, he seemed to echo comments he made in the past about 15 being a target but not hard and fast. He did say some things in terms of pass throughs when pressed by andrew how are you really going to be able to prevent people from becoming llc and therefore benefitting from the potentially lower tax rate than they would as individuals he said, Service Companies would be one example that were not going to allow im not sure we heard that before in terms of specifics when it comes to how theyre going to sort of thread that, very importantly if everybody becomes a p
Weve seen since the election. The nasdaq is indicated up by 8. 5 points. Well talk to the nasdaqs ceo later this morning. Look at what happened overnight in asia. The nikkei was up by 1. 1 . Markets in china also closed higher with the hang seng up by a half percentage point. In europe this morning, in the early trading thats taking place, you can see things are relatively flat. Across the board. The ftse, the cac, and the dax all sitting within points of where they closed yet. Its been a big couple of days for markets there. Pepsico just out with earnings. The number is a core earnings of 94 cents a share. That Beat Estimates by two cents. Revenue also coming in a little above expectations. Talking about what happened with this quarter, she said they achieved solid Revenue Growth in the First Quarter, underpinned by global volume growth. Despite what she calls a challenging food and Beverage Industry thats been trading conditions in north america and continued volatility in developing
Scott walker will be talking to th gundlach in a moment. Long emerging markets. Tim sea mour, youre an eem merchant. This is a trade ive been long for a long time. I actually think emerging looks good against the etf. If you spread it over the spy, you can see the ratio, somewhere around 16. 8 right now. Some key levels to break through. Emerging is absolutely out from the s p. A lot of the bogeys for em, really, the big hurdles for em have been dollar related, growth related. Those economies are starting to move. If you want to see a trade, we talk about this on the show, this is the trade. Emerging is underperforming the s p by almost 60 from the peak of april 2010. And if you want to look emerging markets that took fire in 2003, 2004, 2005, youre back to square zero. Thats exciting. It feels like the short spy side of the trade might be a little trickier. We were talking about how its difficult to not be long at this point. The s p 500 with the volatility so low. Listen, i cant spea
Happy monday morning. Welcome to Worldwide Exchange. On cnbc. Im sara eisen. And im wilfred profit. Very good morning from me as well. Lets check the markets, low volatility. Little action. The dow and s p closed lower for the week. The nasdaq marching to its own beat closed higher for a fourth week in a row. Dow futures up 40 points. S p points up 4, nasdaq futures up 6. Retail earnings are going to be dominant as they were last week. Looking for results from walmart, home depot and more. Going straight there to show you the big boost. Wti 2. 6 higher. Present is above 52 this morning. 52. 15 up 2. 5 . As i mentioned on the Energy Minister comments. Nat gas up by a percent. And last week helping the market up 3 breaking the threeweek losing streak. So perhaps thats a sign to spur the market this week. Asian markets, hong kong, up. And the Industrial Production and fixed investment, both significantly rising but significantly below estimates. The ftse was the outperformer, 2 . Germany
Shanghai composite up by 0. 2 . The dax is down by 2 . The tenyear yield, 2. 24 . A couple of big headlines were watching. First one, crude prices. Wti crude trading higher after the ministers of saudi arabia and russia agreed needing to extend the cuts. Including russia agreed to cut output. Deciding whether to extend that agreement. A lot of folks will be watching for that. Also, a big developing story out of north korea, the Company Announcing the missile that carried a heavy Nuclear Warhead is capable of hitting targets in the pacific. The latest launch was widely condemned by the u. S. , japan and south korea. The white house calling north korea a, quote, fragrant menace. And urged allies to enforce stronger sanctions. And then on this weeks agenda, it say big week for retail earning. Those earnings have been not so hot. Home depot and tjx. And wednesday, target and l brands. Thursday, walmart and gap. Also getting results from cisco, alibaba and campbells soup. And some disruptio