Markets. Futures a little bit softer. 500 futures 16. In europe it was all about the banks. Syncing over 60 in the First Quarter. Switch up the board very quickly. The aussie dollar thats the headline thinking by 1. 4 . The rba surprises with a rate cut. Renewed dollar weakness. Bit. Me back just a little in a commodity market, very much risk down by 1. 2 1 . Some crude related earnings as well. Matt just going through halliburton, seeing the loss widen. Four cents. S was it reported firstquarter revenue of 4. 2 billion. Unchanged in the premarket. To 2. 4s really widened billion dollars from a loss of 643 million in the same quarter last year. Pfizer reported firstquarter earnings that blew away analyst expectations on stronger sales on products such as a Breast Cancer drug. Earnings of . 67 and we were looking for . 55. Raising its fullyear outlook. Earningssee aig mr. Expectations missed earnings expectations. Mylan up on generic drugs. Starwood also beating estimates in the premark
Percentage points and australia down after the bank to bring Interest Rates lower. Lets take a look at what happened in europe, youre going to see, at least in the early trading there, european markets for the most part are in the red. The dax down by 0. 75 . So is the cac in france. The ftse is down by 1. 3 . Finally, a look at crude oil prices yesterday, they pulled back again down 1. 13 to 43. 65. Wti is sitting in that same position at 43. 51. Were going to politics but first the top headlines this morning. The biggest one being this, takata expected to announce it is recalling 35 to 45 million more air bags in the United States. This is going to double what is the largest and complex safety recall in u. S. History. An official announcement could come as soon as today. Separately, a bidding war is brewing in the pharma sector as joe said. Pfizer approaching cancer drugmaker medivation to express interest in the acquisition. This could mean that the company could challenge the 3. 4
You can see . Morning the nasdaq is indicated higher by about 22 points. Nearing correction territory. Wti trading up about 3 . A pop of 1. 34 to 45. 12. Among the reasons for the surge in prices escalated fighting in libya thats disrupted production there. Some canadian pipelines shut down as the precaution after a wild fire shut down the oil city of forth mcmurray in canada. Weekly jobless claims forecast. James bullard is in Southern California today to speak about the economy and monetary policy. And alibaba and merck reporting results before the opening bell and also news corp, square and gopro after the close. And dont miss an exclusive interview with John Williams. That happens this afternoon at 1 40 p. M. On power lunch. Bullard an here a lot. He comes here a lot. If he wants to Say Something. He could some here and thats it. So many approximate of them the time that the if they really want to Say Something to us. Come here and do it. Else were not going to cover it. Fitbit Fir
Cnbc. And we have a great lineup. We have our host for the hour with jim chanos, and david rosen will be here as well as carson block from muddy waters. And jim, you have had a long history here at sohn and we will go through some of the picks through the years later, and before we get to that and get to some of the thoughts on china, and get to the breaking news of john kasich leaving the president ial race, and it appear appears that though the dance floor is cleared for the trump clinton ticket. What are your thoughts . Well, scott, first of all, thank you for having me here, and it is a pleasure to be here. We are down to the twohorse race obviously, and going to be hillary versus trump, it appears, unless there is some lastminute machinations at the republican convention, but at the very least, it should be interesting august, september, ookay, and we have not seen anything like this. And it appears we will not see a contested convention at the way it looks now, and are you disapp
Langone. And a lot more. In the meantime take a look at shares after tesla right now. Dropping about 4 ahead of the afternoons earnings release. There was news elsewhere that the company has lost two key executives. Not great timing as they get ready to ramp up that new model 3. We have details on all of that coming up over the next calm of couple of heres. Joining us today the Brian Jacobson from wells fargo. Jonathan from is sitting next to me and Rick Santelli from chicago as well. Look at the numbers the weakness in the jobs number, earnings. A whole litany. But why now. Those are the same things we discussed as the market going higher and were going to continue talk about those a little more. The seems like the market is always a little bit behind and it takes a while to see the effect. Seems like today we have a lot of things coming together. Economic data, europe, china. We had a m a deal cancel this week. So different factors out there pressuring the market. Also ahead of the u