And everything Mark Zuckerberg wants, he will get when it comes to facebook. Theyre holding a shareholder right now passing to give the ceo more control of the company. More details coming up. The heat wave in the west has caused devastating wild fires. Well take you there for the impacts on business. Lets start with todays rally. Bob pisani tracking the action. Bob. The important thing is weve held most of the gains. Lets call it steady as she goes here. Broad rally more to 1 . 5 1 advancing. Thats an impressive number. Volatility, vix, has been dropping here. Eight of ten sectors up more than 1 . Industrials, bank stks, technology, all have been strong. Financials i would note particularly strong. So all the money banks were up as well as the regional banks like comerica and regions financial. How confused are they over the brexit thing . The answer is very confused. Last week the markets were positioning for an exit. People thought brexit was going to happen. The markets seemed to b
The European Union. Tune in to what he thinks. Sounds like you stuck it in over the weekend. Heres something you dont see everyday. An Industry Group asking for war regulations. They want regulation of the banks. They want more regulation of Fintech Companies in particular. Cam fine will join us to explain after the bell. We start with janet yelllye speaking. The latest market data raised the latest favorable possibility that firms may have instead have decided to expand their operations more slowly, and i intend to continue to pay close attention to developments in this area. So many think a june rate hike is off the table. Lets ask. We have cnbc contributor jack. Welcome, everybody. Eugene, first to you. Just as we were anticipating a rate hike, now it looks like its off the table, or is that your opinion . I think they have decided the glass is half full. The Interest Rates are not going to be going higher but im more tepid than that. Im looking at the economic data. I think the fed
The bombaydo down as well. Also look at crude. Wti falling to 49. 77. And the battle for the white house is front and center this morning. President obama officially endorsing, surprise, surprise, Hillary Clinton for president as did Vice President joe biden. Senator Elizabeth Warren doing the same and didnt take long for gop candidate donald trump to respond. Trump tweeting obama just endorsed crooked hillary. He wants four more years of obama but nobody else does. Clinton fired back with a tweet of her own saying delete your account. And that tweet let to another tweet. Reince priebus, if anyone knows how to use a delete key, it is you. This is all happening in the backdrop of the article in the wall street that emails are now in the center of classified information on drone strikes in pakistan. And were going to talk all about this where the state of the email investigation is with john harwood in a few minutes. I just five hard long hot months three hours at time. Which is what we
Removing five directors of the board including Philippe Dauman. And jane wells with the latest. Well, the hits just keep on coming. In part of a movie that came out of this studio attributed to its success. This is awesome. Hang on, mikey. All right, the teenaged mutant teenaged turtles is a d disappoint, and the viacom profits were 1. 05 and the predictions were 11. 38 and it is a controversy of the demandle deal delay, and does this give more fodder to Shari Redstone . Philippe dauman and four other Board Members have been ousted, but a board in delaware has to approve it, and the ousted Board Members are saying we are still running the show, and they are asking the court to continue that for now, and they are arguing that Shari Redstone is manipulatinging her father, and they say that through national amu amusements she has changed the bylaws so that any decision on whether to sell paramount would are require unanimous board approval while the opposition is saying, hey, your father
As the board drama continues, well go live to Paramount Pictures for the future. And microsoft wasnt the only offer on the table for linkedin. How sales force missed out. Viacom issuing a warning for the current warner. They cite weaker sales after redstone moved to oust five board members. This is a significant warning on estimates. Yeah. They blame one movie. They claim the slate is going to be very good going forward. But they said the slate was going to be very good going backward. This is a company thats in disarray. If you buy the stock, its a complete crap shoot. Its rare you are say do we know whats going on in the company . I think they dont. And i say in a vacuum, the stocks a poorer vacuum. I think you buy it because you get a bid but thats just reckless. Theyre looking at 1 to 1. 05. The street was at 1. 38. A lot of people come in say a nice base had been set on this name. Yeah. I just look at this situation and i just think that this is such a poorly run company that the