Political relief rally banks are in focus this morning. This is bank of america calls citigroup its pick of the decade. The ceo of ulta will join us at post 9 this hour. Well begin with stocks on track to open at record highs. Also adding to positive sentiment, china confirming the vice premier will head to washington next week for the signing of that phase one trade agreement with the United States jim, its going to be busy next week between that and the kickoff of corporate earnings. It sure seems like everybody believes everything is going to be good. A sheer mention of the banks is really underestimated. There are so many people saying buy these. Why does that matter thats who kicks off earnings season already the expectations are pretty high. They better deliver after this run. And thats what these upgrades are mostly all about. I mean specifically on the banks. Goldman getting not one upgrade but two today out of buckingham and b of a, as b of a or it goes from 270 to 245 what ne
Concerns about Rising Interest Rates and some nitpicking about selected corporate profit reports. The Dow Jones Industrial average plunged 665 points to 25,520 or about 2. 5 . The nasdaq dropped 145. And the s p 500 dipped 59. All 30 of the dow components were lower. A day of rumrs. And of all the 500 stocks in the s p 500, only a handful were in the green and higher. Today concluded the worst week for the major afternoons since 2016nd selling starting with the release of the january jobs report. Employers added 200,000 jobs last month, which was more than expected. E remainedoyment r steady at 4. 1 . And wage growth accelerated. Average Hourly Earnings jumped 2. 9 from a year earlier, the y strongestr over year gain since 2009. Investors are concerned veho that that could trigger higher inflation, and so bond yields a rose stocks fell. Bob pisani has more on the selloff from the new york stock exchange. Reporter stocks gave up about one third of januarys strong gains. The dow and the
Injuring ten more. Now the hard work begins says negotiator david davis as he heads to brussels to begin brexit talks Phillip Hammond says there will be a clean break with the eu. We are leaving eu and we will be leaving the Single Market and by the way leaving the customs you know good morning, everyone it is monday, another scorcher of a day lets look at the European Equity markets brexit talks begin the dax riding high by 1 . And the online groesher seen as a target of amazon has been given a rating other big retailers, theyre rebounding from fridays selloff, following amazons takeover of whole foods. Ocado up by 8. 6 stick to bankening stocks. Credit suisse at the top of the market thanks to broker upgrades analysts raised it and Morgan Stanley has coverage with overweights call share up by almost 3 . Lets switch gears another sad event overnight. London metropolitan police says too early to say whether a death at Finsbury Park was caused by the attack by a van driver that drove in
On June 5, Reuters reported that the US economy is presenting a rather mixed picture with the services sector which represents most of its economy, rebounding after a brief contraction in April.