Business it could be a 1 billion transaction. And theres one tech giant thats outspending the pack amid heightened regulatory scrutiny cnbc crunched the numbers. Well bring you those details ahead on lobbying spending. And changes at the top as the uk looks to choose its kn new Prime Minister, what does it mean for investors we go live to london its tuesday, july 23rd. Worldwide exchange begins right now. Good morning im dominic chu. This is a live shot of our nations capitol where just hours ago the white house and congressional leaders averted a potential Government Shutdown and default on our debt reaching a twoyear deal to lift the debt ceiling and raise federal spending levels. President trump tweeting the news late last night calling it a real compromise, much more on that big deal coming up. Heres how your money and the Global Markets are setting the day up ahead the dow will open higher as investors away results from a slew of companies. The s p by 8 points, the dow jones, 82.
Picture. Goldmansachs expects the fed to begin easing in q2 of next year. Also ahead, were going to talk about what is next for the tech sector. This is in the midst of whats been a rough august at least so far. Were down 7 month to date. And letter x Surging Company rejects an unsolicited takeover offer from its rival, cleveland cliff. Lets get some other news, though, as well, as we start the show paypal has a new ceo whoa. Yeah. Alex, who currently runs the Small Business and selfemployed group for intuit, is going to take over from paypals longtime ceo dan shulman on september 27th according to members of the board a little earlier than expected they conducted the search for paypals new ceo shulman will remain a paypal director until next may. Chriss being hired was a result of the process where the board interviewed nine ceos. They reduced that pool to four candidates and then they chose mr. Chriss members of the Board Selection Committee tell me he impressed them with leading a d
Seeing a bit of a bounce as were about 85 of the way through earnings season at this point in time. A lot of questions we talked about last hour, you talked the hour before that about the overbought status of the market, how we reach peak fed. A lot of fed speak this morning. Looking ahead to cpi and ppi later this week. Ppi on friday in the wake of some of the international ppi numbers, which, of course, are negative in a lot of cases. Meantime, banks helping to lead, better than a percent. Industrials up a percent berkshire up a couple of bucks. Berkshire helping lift other insurers because they showed how much of a tailwind higher rates have been to their business. Now sitting on 150 billion worth of cash, buying 10 billion worth of treasuries every monday as we pointed out, today is monday yes see what ackman says about that. In the meantime, rbc raising e s expectations for the s p for 23 and 24 by 1 and 2 respectively she does maintain her yearend price target, concerned this yea
Market site. We start off with the straw that might have finally broken the rallys back fitchs downgrade of the United States longterm Credit Rating sent the yield on the tenyear treasury to its highest level since last november and that took the wind out of the sails in the equity rally. The dow going negative for the week the s p down 1. 4 for its lowest close in more than two weeks the nasdaq shedding more than 2 take a look at the stocks that were particularly hardhit data dog, crowd strike, all dropping more than 6 . Semiconductors taking a leg lower. Amd, which was up about 6 after its Earnings Report last night ends the day down more than 7 investors turning instead to the safety of more defensive sectors, Consumer Staples, health care, the only groups in the green today. So, did fitch show how tenuous this rally has been . And weve seen this before, karen. 4 seems like the magic number whatever the reason for getting above 4 is, this time, its fitch. Stocks fell off. Right well
Tonight Donald Trumps lawyers wrap up the case and his criminal trial as the former president declined to take the witness stand. Then my interview with israeli Prime Minister benjamin netanyahu, as a war crimes prosecutor now seeks a warrant for his arrest. And what is going on with the economy . Inflation may be slowing, but prices remain high in this country. I will ask the head of the Federal Reserve bank of chicago as the 11th hour gets underway on this tuesday night. It evening once again, im Stephanie Ruhle in chicago and we are now 168 is away from the election. In about one week from now, a jury of 12 new yorkers will start deliberating the fate of the first former president charged with a crime. Donald trumps defense team rested its new york criminal case today after calling just two witnesses. Donald trump did not take the stand. The Closing Arguments are now set for one week from today. Then the case goes to the jury. My colleague Laura Jarrett has all the details. Reporter