Lets have a look at where european equities are trading just under 30 minutes to the close. I can tell you the stoxx 600 is rebounding from a fivemonth low and also rebounding after it had its worst week since november last weekend. We are seeing broadbased gains, the ftse 100 up the most in over a week. The dax up the most in almost four weeks. Some people coming out to say perhaps a correction is imminent. This is the europe index and what we can see here is that those are drops of 10 or more from peaks. That hasnt happened in about 13 months for the europe index, they in the question whether we are due a pullback. That 13th month run without a pullback of 10 or more is the longest since this bull market began in 2009. That is and and then we will talk about this hour. And then looking at the stoxx 600 revenue per basic share against the euro. We were just talking about the gains in strength of the euro. The euro was weaker because of broadbased dollar gains, but overall, we have see
In a little bit but tell me first about the conversation you had this morning with president elect donald trump when you informed him that you would no longer be building that plant in mexico. Well, we informed president elect trump and also Vice President elect pence this morning that we were going to be investing 700 million here in our plant in flat rock, michigan, adding 700 jobs on top of the 28,000 jobs that weve created over the past five years. And at the same time, told them we were going to be canceling our plant in mexico and the reason for that is that plant was we were going to produce the focus. Weve seen a market decline in demand for small vehicles. So were now going to produce the focus in an existing facility in mexico. Mark, what did the president elect say to you when you told him this . Well, over all both the president elect and Vice President elect pence were very happy that we were making these investments here in the u. S. And u. S. Workers. And we mentioned al
Look at the vix at 11. Yep. The vix is at 11. Yesterday somebody came into the s p 500 pit in the last hour of trading, and bought a whole bunch of protection that expires monday next week. These are s p 500 puts at the 2250 strike. They have already lost a pile of money on that trade. Put up 4 million, lost 5 or 600,000. So the big money is still protecting. Is not complacent. They have been doing similar things in the vix pit. Putting on protection ahead of the jobs report. And or whatever might be tweeted or happen over the weekend. With the interview, for instance, with the president before the super bowl on sunday. All of that could impact the markets, and some people want protection. So i wouldnt say its complacent. I would say that its right where it should be. Youve got the Missile Launch in iran. You have the whats termed the tough call with the australian prime minister. Comments about mexico. And oh, by the way, a fed that could move in march as rick reader told us yesterday
Shareholders. Why is this the right plan today . Its the right plan because General Motors stock is confronting a very unusual dynamic. It trades below its multiple in the s p 500. The pe is less than six. They pay out a dividend yield, which is more than 4 . Which puts it among the highest and further, theyre only paying out about a quouquarter of thei earnings, so its very unusual for such a high yielding stock. Which leads us to think theres some investors that just want it for the dividends and dont care about the other 75 of the earnings. And theres other investors that care about the earnings, but not about the dividend b and so, when you buy gm stock, youre just kind of stuck with half that you like and half you dont. So our idea to pay the same money to the same people just do it in two different sets, that way everybody can have what they want. It doesnt change anything else, but when you do some Pretty Simple valuation analysis, if you actually implement ed this plan, which w
Surveillance. Withuy johnson in london tom keene in new york. I heard you on the radio this morning. You sounded good. Good, you let me know what was going on. You sounded great today. Guy i feel a warm glow of appreciation. Today feels like a weird day. Is adding stimulus. Oil seems to be stabilizing. What seems to be going on . Clumsy tuesday. We have oil on a bid but we have smart guests to get us forward. John silvia will be joining us in the hour. Guy looking for to that. Lets get everybody up to speed. Vonnie the white house is calling the killing of six u. S. Soldiers in afghanistan cowardly. They were killed yesterday while on patrol. They were targeted by a suicide bomber on a motorcycle. The taliban claimed responsibility. Two other u. S. Service members and an American Contractor were hurt. Of tech raises the Number Service person killed this year in afghanistan to 21. The versatility is confirmed in the china landslide. Rescuers pulled a body from the pile of rubble. As man