Fueled a huge rally in financials much earlier, but sectors been underperforming since being in office. Do you doubt the banks Going Forward . Its been a rough week for oil prices, and goldman cults the outlook for crude. Where do go from here and which names you buy and sell in the energy space. Closing Bell Exchange on a tuesday, shall we . Joining us here to kick it off, greg from hightower, managing director there, keith from post nine, and Rick Santelli at the cme for us as well. I want to start with choppy action in the markets today after significant close to the s p 500. Is it are we just digesting that move . Well, we are digesting that move, and, frankly, i dont see anything thats a real catalyst to break the market out to the upside or really bring it down in any kind of correction mode at this point in time where what weve been seeing the last several sessions is the market flat lined, moved sideways, and the russell has been between 137080 since february, since the middle
Good morning warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Im seema mody in for sara eisen. Great to have you here. Welcome back from london. Good to be back another surprise june election result in the uk well get the fallout from that in just a moment lets start with what u. S. Futures are doing after an extraordinary trading day on friday we hit record highs in the morning and a tech inspired selloff in the afternoon meant lackluster returns for the dow and the s p and disappointing returns for the nasdaq, down 1. 8 on friday the money did go elsewhere energy up 2. 5 on fridays session. For the week as a whole, while tech was down 2 financials were up 3 . A selloff in the tech sector the rest of the indices holding up all right the dow was up by 0. 3 the s p slightly lower and the nasdaq down 1. 6 for the week. This morning expecting softness. The dow called lore wer by 42 points the tenyear ending at 2. 209 the selloff in tech extending to asia. Some big heavyweight
Avoid a fourday losing streak higher by more than half a percent. Energy losing. Chesapeake, range resources leading the declines and big between 4 and 6 because crude oil is sinking right now prices lower for the first time in nine sessions by a big decline look at wti. Off by more than a buck of 4 to 45. 40 tyler . Thank you welcome, everybody heres what else is happening right now. Big deal in the payment business vantik making a 10 billion offer for the uks world pay group. Jpmorgan at an early stage of considering an offer for world pay but now doesnt plan to make a move and move over intel. Samsung now on track to become the largest chipmaker by revenue. Walmart getting the green light for acquisition of the mens retailer bonabos. Beginning with developing news of north koreas new Nuclear Threat kayla in washington with the latest this hour on that Missile Launch on the fourth of july kayla . Reporter tyler, theres new developments of the u. S. Knows about the launch captain jeff
Beating Goldman Sachs. Coming in atates 1. 5 billion. R. O. E. Over 9 . There with us to discuss is Alison Williams of Bloomberg Intelligence. Your take on the earnings . Too few things . Wealthover 9 and their margin coming in at 25 . We saw that strength at bank of america, we saw strength at wells fargo which was a precursor but those are key metrics. They focus on that r. O. E. And the margin is one of the goals they focus on to get there. Fixed debt in line, the banking fee is something we have seen. Alix what have we learned about Morgan Stanley on Goldman Sachs . Is it all about commodities . It is more execution. Alison it to be a little bit of both. Every quarter is going to be different in terms of where the strength of the overall business is and depending on where the strength in the industry is, that is going to impact who is doing better. And of it is just business product but goldman also says for a Second Quarter in a row they did not navigate markets well. That is what
Haidi his vision for korea. Seeking to create muchneeded jobs. Now says ite world is controlled by charities. A major shareholder has dropped out of sight. Now. Ing news right group growth on better exports. You this better budget that will be fleshing out. Mentioned that 2 target. Just extrapolate that from 3 . Have a look at markets right now. Has the market ended or are we about when you look at what happened on wall street , flatght, look at asia for a second straight day. The momentum that has actually been built in, still very much intact. There is a lot on this chart we have right here. Let me bring up the panel for you to give you a sense of what it is looking like. We were almost worried, do we get below 40 on the rsi . Usually that is a signal that it is about to turn. In a lot of ways, you look at this chart. It does seem high. It is very much alive, kicking, and well. Is all about perspective. It is only been has only been about a week. In the meantime, we get another recor