Which he struck a very humble but sort of defensive tone in saying that libra is not intended to be an investment vehicle. Its intended to be a payment vehicle that the crypt okurancy will not be used for monetary policy, and sort of defending this as a way for facebook to provide Economic Opportunity to its users. But of course, he is going to be facing a very hostile environment when he testifies tomorrow, and certainly well see if that same tone is echoed by the treasury secretary when he speaks in just a few minutes. This is most notable because this comes just days after President Trump tweeted specifically about libra as well as cryptocurrencies, that could be construed, Steven Mnuchin is approaching the podium lets go to him right now. Recently, as you know, theres been a great deal of interest about Digital Assets, including cryptocurrency such as bitcoin and libra. There are many regulatory and supervisory questions regarding libra, virtual assets, and virch wal currencies but
Do we call him dr. Sunshine. He likes to say dr. Realist. Allergan could be buying a it had a market cap of 90 million and theyre buying it for 1. 7 billion. All because the Bio Tech Companys progress in fighting a certain type of Liver Disease. We will look at what other companies could be takeover targets in that space because of this takeover here. We are keeping an eye on markets. The dow is up 50 . S p is up five. Nasdaq trying to participate. Lets get to our top story. Wells fargo ceos testimony on capitol hill you saw live here on cnbc. Testifying in the wake of the banks fake account scandal. Williford frost is in washington. He has been covering hearings all day today. And the hearing was far tougher for john stumpf summed up with this exchange. Have you returned one nickel of the money you earned while the scam was going on . And the board will i will take that as a no, then. Have you fired a single Senior Executive . I dont mean regional manager or branch manager. Im asking
Jims alma mater harvard set to face cincinnati. So far, it looks as though stocks will open to the upside, as markets appear to be taking in stride crimeas vote in favor of leaving ukraine and joining russia, this comes after a week in which the dow had its first fiveday monday through friday loss since may 2012. Jim, good to see you. Good to see you. Referendum dominating the news flow over the weekend. U. S. Says under no circumstances is it going to recognize that. What does it mean for the markets today . I think that whats happening is there are oligarchs cashing out. We see a lot of sales of treasury last week. I have to believe that some of the russians are to be thinking, okay, if they do capital controls, ive got to get out of the u. S. , that was a lot of the selling. This was one of those big, bad event owes cs occurs, nothing h. I think they hope it go as way. I think people hope putins done or maybe hell say, look, i think that maybe its reasonable for me to have a corrido
Im jim cramer, and welcome to my world. Firms are going to go out of business. Theyre nuts they know nothing miss it hey, im cramer. Welcome to mad money to cramerica. Other people want to make friends. My job isnt on just to entertain, but to teach and educate. Call me at 1800743cnbc. After a hohum session, s p finishing flat, nasdaq advancing 1. 2 . Were about to head into one of the four most exciting but least lucrative weeks of the year, thanks to the coming jumble of earnings. Thats right. The reports are coming. You know the rultz. No trading at the height of earnings season. Lets just try to learn. As i told you not that long ago. Its almost xwabl to make money until after weve seen the earnings. I did five years worth of work on these weeks. Im not kidding. I spent the last yeah, i spent about the last few weeks. I went through every single earnings week, and i have to tell you, just as right as we are wrong, its like a coin flip, and we have a real parade of them. Stop flippi
7 30. Well roll out the reaction as soon as those companies report. We have dupont and United Health. Am i speaking too soon, joe . Im away from my computers . They are . Oh, great. Thats good. I like both of those companies. Ill come over and help. Both of them should be followed. Dupont saying adverse weather conditions reduce First Quarter earnings by an estimated 7 cents. Did you see how many times i think the beige book mentioned weather 131 times. Someone counted the number of times it mentioned weather. Weather is an issue. You know, that was not fair, becky. Im sorry to spring that on you. You were without blame because youre in that shes a vision in white this morning. Im interested im looking, im looking. Ibm, the lowest is that for real . The lowest revenue number . That was a bad number. The lowest revenue number. Didnt we just talk to people. Who was it, bill miller said he expected an uptick because it had been eight quarters in a row it had been lower. I think an activis