A warship to russia as planned despite deep criticism from both sides of the atlantic. In corporate news, litigation talks talking its toll on Credit Suisse following a 8. 5 billion settlement with u. S. Authorities. Shares dropping to the bottom in market after a disappointing set of Second Quarter numbers. The failed deal with omnicom is partly to blame. We have been too much focused on the omnicon deal. These certainly generated questions over the daytoday issues. Youre watching Worldwide Exchange, bringing you Business News from around the globe. Hi, everybody. Welcome. You are watching Worldwide Exchange for the next two hours. I just want to update ow some flashes were just getting across our wires. Were seeing uk politicians talking, saying that they need to send a clear signal to russia, the world has changed since the recent eu meeting took place. He says expectations have changed and the eu needs to go further. A terrible incident that happened because of russias support for
2. 61 . As we do every morning, lets take a look at europe and see how those markets are already fairing. Largely, a good deal of red on the board. The percentage declines, well, not too great. Although, a couple there around the 1 mark as you see it there. Lets start with our road map this morning. It starts with day seven of the Government Shutdown. The markets may have been unphased by the shutdown but the possibility of a breach of americas debt ceiling, that is probably the reason you saw the futures deeply in the red. Then, apple getting positive notes from several firms. Jeffreys upgreats the stock and increases its price target to 600. They say the 5s is number one at all u. S. Carriers. Home builders getting hid this morning. Goldman downgrades Toll Brothers saying they dont need to be kro concentrated at the highend of the spectrum. Shares of cooper are going to be down sharply as that deal appears to be unraveling. Lets start off, of course, with that Government Shutdown. It
A market in search of a narrative. Thats kind of what it feels like down here. The dow may have been in full on rally mode today if not for General Electric. Its the worst performing dow stock. Its down almost 3 , and that despite earnings that roughly met expectations. Why the selloff . Art cashin just told me the market on close orders flat right now. The dow and the s p continue to trade near alltime highs. The nasdaq is still a good distance away from his alltime high of a little over 5,000 set way back in march of 2000. 14 years ago. But youre wondering whether that could happen this year. Could we hit 5,000 and if so find out which stocks could lead the way for nasdaq to retake that magic mill lenennial mark. It would have to be a 20 move after the year we just had. It would have to be the late 90s all over again basically. Here is a look at whats happening in markets right now. Weve mentioned whats going on with the major stock markets. The dow adding 60 points up a fourth of a
Closing below 1400 for the First Time Since june. Markets around the world are holding their cheollective brea as the allies and the u. S. Weigh options against syria. And such at a tack on syria could send crude surging to 150 barre barrel. And jpmorgan is going to settle lawsuits settled from subprime mortgages. The nasdaq and the s p coming off of the worst levels. And the fears of u. S. May attacking syria in the next few days, stocks are posting the biggest drop in eight weeks on the syria concerns. There is some line of thinking, jim, because today is a big event on the National Mall anniversary of the i have a dream speech, that the president may not act today and he is overseas and so a window of thursday and friday where if they are going to dit, they will do it. I read the speech again and i have to go listen to it. I do, too. And we listened to it tomorrow. Yes. It is on youtube and even though it is online, it is not part of the public domain. True . Yes, we can only play s
during the meeting, called by the fed governor to talk about the stress test, the fed says the bank expressed the concern about the pending regulations. they expressed these views to the fed even though they were not allowed to reply to the bankers because some of the rules are still being written. they expressed concerns about how the fed is determining what a bank single counterparty credit limit will be. they expressed concerns about volcker and the market. they expressed concerns about how some areas of dodd-frank will impact their international operation. that s a summary from the meeting. afterwards we spoke with jpmorgan and ceo of morgan stanley, both of whom said the meeting was productive. back to you, guys. a lot of groundwork to be laid there on dodd-frank as they get ready to implement the financial regulations and jamie dimon has referred to it as dodd-frankenstein. after starting the market lower on the major concerns, they are clawing their way back to pos