Carl quintanilla with jim cramer a solid open as we watch more good Bank Earnings and consumer inflation that is a touch cool 10year core cpi runs 1. 7 year on year. Wells fargo with earnings, does it point to a strong season of corporate results . Tech policy head winds, the fang stocks are set to open higher. Amazon and alphabet above the 1,000 mark and 21st century fox down in the premarket following the drag from comcast and direct v owner at t bank of america better than expected as improved lending activity and higher rates offset weaker trading revenue and wells beats on the bottom line but revenues miss and that stock is lower as we watch efficiency ratios. Wfc, wells does a pretty good job of not talking about the issues that beset wells fargo. I will say in their defense, there was not a decline in average deposits, up 4 . People are not fleeing wells fargo. Bank of america has become the bank that i always thought it would be, the consistent bank where you can put a price to
Ross spoke to bloombergs Francine Lacqua over reports that he did not disclose a business relationship with Vladimir Putins soninlaw. It has to do with his ownership stake in a shipping company and its links to a Russian Energy company. Secretary ross there is improper either in the way we handled the investment itself. Francine when you keep the stake . Secretary ross probably not. I have been selling it anyway, but that is not because of this. Mark u. K. Labor party leader Jeremy Corbin wants offshore investigated including the holdings of queen elizabeth. Documents from a law firm show that the queen made a serious investments in a Cayman Islands fund. Global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. Julia live from bloomberg world that was in new york, im julie chatterley. Scarlet im scarlet fu. Joe im joe weisenthal. Julia stocks are rising, bonds are advancing, the dollar drifting from and
What a deal could mean for the other chip stocks. Power lunch starts right now im Brian Sullivan the markets moving just enough today to give your investment dollars yet another new high, thanks to the saudi news oil is moving up again data is pushing Energy Stocks higher chevron and exxon among the dow leaders. We talked about Semiconductor Companies as well. It is fair to say that lately, it rocks sox at new alltime highs. Michael kors soaring, the fashion retailer beating earnings estimates and raising its outlook. More on that ahead and reports the Pharmaceutical Company may becoming a takeover target thank you very much im tyler mathieson. Welcome to power lunch. Target gearing up for the holiday season, announcing deeper black friday discounts and plans to open 6 00 p. M. To midnight on thanksgiving day i will be asleep staying with retail, amazon cutting prices of Third Party Products in the face of stiffer competition. And the new york fed present William Dudley plans to retire
Small cap russell index is often seen as a proxy for tax reform that index is underperforming again today. Well have the latest on any changes to the house tax plan, and we have an update on the senate tax plan. Which is still to come lets start, though, with todays earnings parade that is driving big moves in the market. In various stocks. Bob pisani joins us now with the highlights from this morning and we have a preview of whats still to come here tonight, bob. Retailers coming, bill, but remember 75 done. Still a lot of retailers just want to companies in general, just take a look at royal caribbean, nice move up here beat by 9 cents. Despite the hurricanes and the issues, they gave a terrific 2018 outlook thats why the stock is up almost 3 . Move to the left, remember coach, well, its now called tapestry, that i had a decent number here. The small beat, revenues were short. Remember, now, they now own kate spade. So theyre merging the company i would call this a transition quarter
The sfenate flaplan ylan reporter we dont have to rely on sources because the Senate Version of the tax bill is now officially out. Here is some of the key details. As weve been reporting, it would delay the introduction of the corporate rate cut by one year to 2019 however, it would get down to 20 and stay there permanently it would also limit the ability of companies to deduct their interest, but give them full and immediate expensing for five years. The individual side of the senate plan is quite different from the house version of the bill the Senate Version has seven individual tax rates the top tax rate is 38. 5 . The senate bill will also include a full repeal of the state and local Tax Deduction. Now, that gives them a lot of money to play with to do some other things in the bill such as keeping that 1 million limit on the mortgage Interest Deduction. The house version of the bill had lowerered that for newly purchased homes. The Senate Version of the bill it keeps it at its cu