Welcome to squawk alley for a tuesday, jon fortt, Kayla Tausche and myself at post 9 along with investor jason who were going to check in with in just a moment. Some moderate chop as a pilot might say, dow is down about 97 points. Were going to get to jason in a second. First Morgan Brennan with some breaking news. Carl, thats right. Railroad headlines for you. Canadian pacific planning to abandon its proxy fight for Norfolk Southern according to dow jones, also mulling proxy revolutions to push norfolk into takeover talks. In other words Canadian Pacific considering a potential shift in strategy to push the Eastern Railroad to engage in these takeover talks. This, of course, comes on the heels of three rejected offers over the past few months. The most recent being in december. And it really its a bit unclear about how cps ceo hunter harrison, the street fight, the strategy is now going to shift. But again, hearing that it is going to shift according to dow jones. You take a look at t
Opec supply forecast coming in for next year. What we will hear from chipotle ceo on the companys food safety debacle. They like what they are saying so far. We will give you the latest developments on that potential likely deal between dow and dupont. Could create a combined company certainly worth 130 billion in the marketplace before it splits it all up. The Worlds Largest retailer getting into the mobile payment race with walmarts new plan for consumers and the competition. Stocks looking to snap a threesession losing streak in which the 200point gain was essentially wiped out. Weekly jobless companies go to a high. Debt reduction and the stocks still down about 70 year to date. Both glencore and ben chevron making comments about the export. Glencore is a survival issue. They throw a good face. Constantly saying, we have much better cash flow than you think. They may have it. They are very good traders. I put them in a different category than freeport. Three times eye charm. Oil, y
Hortons. Well speak with two freshmen congressm congressmen, one democratic, one republican, about what washington is prepared to do about it, or if all this rhetoric is now just electionyear politics. Is bigger better . Apple seems to think so. A bigger iphone coming and maybe a bigger ipad as well. Could this be the tablet that finally allows you to throw out your laptop . I hope not, mines kind of new. As apple stock climbs above 100 bucks, well investigate what apple might have up its sleeve. Im rather attached to mine as well. Im with you. In the markets with an hour to go, the Dow Jones Industrial average off seven points, further away from its alltime closing high of 17,138, i think, if im not mistaken. The s p 500 yesterday closing above 2,000 for the first time, today giving up three points. The nasdaq giving up about five. There has been there have been headlines, we should say, about tensions between russia and the ukraine, scott. But frankly, markets here have been more or
About 8 billion to banks at discounted rates. The goal is to allow the firms to relend the money to small businesses. Its been more than 24 hours since swiss Central Banks shocked the financial world. It abandoned its cap on the euro an were still learning about the fall out. Regulators around the world are looking for information about what happened and how some retail brokerages entered insolvency. It says the volatility left it with a negative equity balance and its trying to sure up its capital. Lets take a look at whats happening with the u. S. Equity futures this morning. The dow was down by triple digits yesterday. The dow was indicated down by 42 points. S p few turs down by 6 and the nasdaq down by over 28 points. Of course as weve seen what happens in these early hours is no indication of what would happen by the market close. No indication of what would happen by the market open. So true. A lot of volatility out there. It is. Corporate news this morning, heres our early stoc
One was anticipating. You know the Central Banks are good about telling the markets what theyre going to do in advance and when that doesnt happen you see swings like this. The Swiss National bank coming out with its news saying it was going to delock the swiss franc from the euro. Since 2011 they had been tying the currency cap in 2011. Swiss national bairng was saying you had to have 1. 2 swiss francs to the euro. They let that go unexpectedly. Moved 30 . Basically 120 euro. 120 swiss francs to the euro. Yeah down. 86. Right. Its complicated stuff and theres a lot to get your head around but this is a massive move. Weve never seen a currency swing like this before. It was also the u. S. Dollar we saw the swing against because the dollar was high against the swiss frank because it was tied to the euro. When they let that go it was a massive snap. So it had been that they were benefitting by being tied to a weak euro but it wanted to go much higher and obviously i want it wanted to go