Records that were set for all the major averages, as upbeat car sales and expanding growth across the globe helped to lift stocks once again. The Dow Jones Industrial average rose by 84 points, closed at 22,641. Nasdaq added 15. The s p gained five. And the rally isnt just here in the u. S. Its happening pretty much everywhere, as bob pisani explains for us tonight. Reporter stocks remained in record territory today as the socalled reflation trade continues to power the market to new highs. Reflation means expansion of the global economy, a little bit of inflation, not much. Central banks talked about raising rates. In t united states, the prospect of tax cuts boosting corporate profits in 2018. Stocks have been rising in europe and asia as well. Japan hit a twoyear high today and stocks in hong kong were also near a twoyear high. The effect of this reflation trade is that many sectors have been rallying, particularly banks, which do better in a rising rate environment, energy stocks,
News throughout this next hour and a half. Some of the big pieces we will deliver. This is the beast of the market, the treasury market, the death of the treasury market. The ticker on this his fiveyear. The moment of truth has arrived for the bond market. We test above 2. 4 for the first time in five months we touched above 2. 4 for the first time in five months. What is achievable if you break certain points . 6 i20 20. We are seeing this 6 by 2020. We are seeing this. Who do you want to run the fed jack of that run the fed . How feeble the bond market is to risk. Anna the fed chair conversation and there is also the growth story. The dollar. A quick word on some of the breaking headlines. Some corporate around europe but before we get to risk radar, they are cutting their fullyear Revenue Growth to 6 . Cutting their fullyear eps target. Worth keeping an eye on that. We have mentioned the risk radar. What you said about the bond market. Lets look at where we have been in the asian eq
We have a lot of Mental Health problems in our country as do other countries. But this isnt a guns situation. Want to search this morning for motive in the here is to stop his rampage coming up. Maria President Trump and in the banquet pushing so a bright now. The latest to discuss today trade in dealing with the rising threat from north korea. Tax reform taken center stage this week that republicans pushing forward to get it deal done by the end of the year. Progress coming up as the committees right now are zeroing in on the tax plan. The battle for saudi aramco. President trump has urged saudi leaders to church the New York Stock Exchange for what would be the largest ipo in the world that the future remains uncertain. The latest air an anticurrent john. Is sending shockwaves throughout the Business World. Details are several prominent members of the royal family, including all of the bands who all are taken into custody. The richest men youve ever seen taken into custody. It is to
Adjustment earnings. Havee battle for strength top hundred 84 a share in at ts bid and verizons bid before. They have a huge spectrum. It is all about 5g for these players. Jonathan Emmanuel Macron scored a decisive victory over Marine Le Pen. 60 of the over votes. , guyng us now from paris johnson. Fantastic reporting yesterday. The job for Emmanuel Macron. Talk to me about what he needs to achieve over the next month to make sure he gets something out of those parliamentary elections. This is just one piece of the puzzle. Presidency a major leap forward for him and his political ambition. It is only part of the journey. He needs to carry the momentum into the massive assembly. He needs to be able to deliver the policies he has talked about. I think it is going toi think ie interesting politically. The Prime Minister effectively is going to run the domestic agenda and people are talking about that he needs someone little bit rightleaning. He needs to bring in some people from the righ
Good morning, everyone im carolin roth great to have you back on the show once again. Were roughly one hour into the trading session. Lets show you how were faring. A bit of a mixed picture the xetra dax up 0. 2 . The ftse 100 up 0. 50 . The cac 40 and the ftse mib are slightly underperforming lets show you what european banks are doing this morning were seeing a rally across the board. Deutsche bank up 0. 2 . So, these banks, they have been rallying for a couple days now thats because the expectation of a steeper yield curve in europe but a couple other factors, such as shares at hsbc trading at twoyear high after Morgan Stanley upgraded the stock to overweight boosting the price target by 20 to 84 hong kong dollars londonlisted shares are trading higher this is the big story which boosted banking stocks across the world. American banks are rolling out massive dividend increases and buyback programs after the fed gave a green light to shareholder payout plans at the 34 biggest u. S. B