Lutnick and doug cifu to tell us how the increase in passive investing is impacting their businesses. And macys is reportedly considering putting a part on the Flagship Store in new york city. Were so desperate for grass, i think people will go anywhere in this city, central park gets a little crowded and 34th, they could use some grass in that area. Go up to macys now, you can find it. But is that the thing thats going to get people into the store if theyre going up there . Anyway, the reason we showed you a picture of daymond john, hes with us today, of course, from shark tank and a very, very successful entrepreneur on his own, especially when it comes to branding. And were going to talk about branding in retail among other areas, coming up with daymond in a little bit. But first, we begin with this decline in oil today. Here go the inventory numbers, wreak havoc in the oil markets again. Jackie deangelis is at cnbcs commodities desk with that. Jackie d. . Hey, bill. Crude oil break
Stockske a look at how are doing your the end of this tuesday session. Stocks are rising for the second day. Yesterday, Technology Stocks rebounding. Sterling is rebounding today as well as commodities. This is the euro against the pound. Yesterday, the euro reached a sevenmonth high against the pound. Were looking at this eightmonth traini trading phase. This was the post exit high after october of less year of last year. Dropsts has forecasted a in the fourth quarter. Hsbc is forecasting parity. The high for the euro against on december was 97 the 30th 2008. We have some data today. We have german Investor Confidence expected to be dropping in june. It was a sign of exaggerated optimism. Europes biggest economy is beginning to fluctuate. Analyst expectations predict economic development. Economists were estimating 21. 7. Business confidence at the highest level since 1991. Manufacturers, service is, Providers Services and promoting strong economic fundamentals. This is a nice, little
[inaudible conversations] good morning. This hearing will come to order. I would ask consent that my written Opening Statement be entered into the record. Without objection. I want to welcome secretary kelly. This is a hearing on the department of Homeland Securitys fiscal year 2018 budget. This is the third time that the secretary has appeared before this committee, the second time as secretary of the department. And, again, we welcome you and appreciate your service to this country, many, many years of it. In lieu of my written Opening Statement, i just want to make a couple comments. Im, by vocation, im an accountant, so ive gone through budget meetingsing many, many times meetings many, many times. First, i want to just talk about the history of the budget of the department of Homeland Security. Were not quite ready for the chart. When you take a look at total Budget Authority when the department was first stood up, the first fiscal year was 2004, and the departments budget was thi
Through tech, but a number of others staples getting naileded even banks gave up much of yesterdays gain if rates continue to rise on fears of Central Banks, can stocks continue to rally or will with see another taper tantrum like sell off. I think if you go back to the taper tantrum of four years ago, which is when we coined this annoying term, the s p pulled back about 5 , but bottomed literally almost four years ago today. Other Asset Classes sold off 15 . We went from 165 on the tenyear up to 3 could duo that here . I dont think so but i think what you have here is the central bank across europe and across the boe. We talked about this all week. This has been the story all week not just today bond yields move up 80 . I think the its a great environment for banks. For reflation trades i think emerging markets will do better this time will equities be unnerved for the next week or two if this continues . Absolutely what you saw today about 7 00 in the morning, bond futures really tak
And Electronic Devices. Complete speaker cards and document to be included as part of the file should be submit today the clerk. Thank you. Today we have item 1, so if you can please call item 1. Orbd nons approving and authorizing the exectv director of port of San Francisco to execute project agreement with army corp of engineering to allow dredging of Central Basin by pier 70, not to exceed 2. 2 million for project cost and port providing a 10 percent matching share nod to exceed 900,000 of the Central Basin payable over the 30 years for matching fair from the port not to exceed 3. 1 million. Thank you we have the port staff here to explain why we are here on a monday for the item. Yes. Good afternoon supervisors. [inaudible] project sponsor [inaudible] and the new Deputy Commander of the San Francisco district of army corp of engineer major kevinmic cormic. Before i go further like to express on behalf of director forbes heartfelt gratitude for being here today rchlt being able to