Christian all brick ulbrich joins in just a bit. I am Katie Garfield in new york. Welcome to bloomberg markets. We have a green start to the week with the s p 500 up about. 6 . If you take a look at the nasdaq 100, we are talking about. 6 . We have another big week of earnings coming up, so we will continue to watch these lines. Meanwhile, on the bond market it is a quite start to the week, the 10 year yield unchanged following a big rally. We are sitting at about 4. 5 percent. One stock we are keeping an eye on is apple after Warren Buffett praised the tech giant over the weekend. He said apple is better than American Express and cocacola. Despite that praise, buffett revealed he cut his stake in the tech giant. He said a lot of things about several different companies. Sonali he did. When we come to apple, that was one of the biggest headlines because he did praise apple despite trimming his stake. He hinted at tax implications. If you are facing a 21 tax rate, he says your tax rate
Investors eyed events in washington like tax reform and comments from the fed chair nominee. The gains were broad. The closing numbers attention getting. The Dow Jones Industrial ave climbed 255 points to 23,836. The nasdaq added 33. The s p 500 gained 25. Investors were glued to three stories tonight out of our nations capital. We begin with ylan mui on the advancement of the senates tax reform proposal. Reporter the Senate Budget committee voted to move the republican tax plan to the floor today. And that means the gop is on track for a final vote by the end of the week. This was a critical step because there are still several republican senators who are on the fence over this bill. Senator ron johnson of wisconsin says he wants bigger tax cuts for passthrough businesses and senator bob corker of tennessee is worried about the impact on the deficit although he did tell reporters that a broad agreement with gop leadership to ensure that his concerns are addressed. Now, the debate over
Cheryl stocks open higher in europe on the back of a big extra for a vote in the senate that happened friday. European markets pointing to a higher open. Trip and half . Cost it one to 2 . Cheryl done deal, cbs by aetna for 65 billion. Fbn am beginning right now. Lauren good morning. 5 01 a. M. Right now. Thanks for joining us. And lauren simonetti. Cheryl good morning. Im cheryl casone. A latenight decision to get the tax reform bill in the senate done and done. Lauren the wee hours of the Morning Saturday morning. Thats when we begin with this morning. The senate approving the tax reform bill. The real work begins to iron out differences at the house version. Congress returning to work a day early to get the socalled reconciliation process underway. Gop lawmakers to send a final compromise bill to President Trump by christmas. Thank you, mr. June 22 Republican Congress members to get the next. They still need to be made in confidence to get these things done. Big difference inside th
Decision also coming up. Brings in divorce talks back on track e. U. Commission president truckload younger and Prime Minister to resign may say the next phase of negotiations can now finally begin. Plus hes called for a United States of europe but first yes to persuade his own social Democrat Party to Start Coalition talks which i saw a glimmer of those conservatives still use has an exclusive one on one with s. P. D. Leader Martin Schultz. Also in the next sixty minutes well take you to zimbabwe a country that used to be the breadbasket of africa but the dictates of rule by Robert Mugabe have left it on its knees we look at the task ahead for its new president and the many challenges he faces. And the german human rights activist accused by encore of supporting a terrorist organization w speaks to peters story after his release from a turkish press. Great to have you along the United Nations middle east envoy has warned about the risk of a violent escalation following the u. S. Decis
Good buy into early end and maybe beyond. But lets start with todays rally. Joining our exchange today is jim kahn, sarge gilfoy, and Rick Santelli at the cme. Rick, im going to start with you if i may ahead of the fed meeting tomorrow weve got a bit of a stealth rally in the pound the pound. The dollar over the last week or so including a little bit today how many rate hikes over the next 13 months are priced in you know, i dont know that much of the dollar activity that were seeing today is necessarily predicated on what investors think about 2018 whether its two, three, some are saying four. I really think its more of a function of the u. S. Market kind of bucking the trends of europe, the spreads of our treasuries especially the long end is distancing itself from the yields of the long end of europe and as that occurs, if you were to put that on a chart, the differential at 210 basis points seems to be one of the factors that could be dragging the dollar up a bit. More in a yearend