Were lockstep with europe this is a very big change. You pointed that out a number of times the tenyear note yield creeping up a little bit from the lows we saw last week. Maybe helping firm up the financials just a bit. You see crude there. We just heard, of course, from the treasury secretary of the United States, steven mnuchin. As they wrap up squawk box. Tax reform, its got to be the most significant item on the agenda you know, he seemed to echo comments he made in the past about 15 being a target but not hard and fast. He did say some things in terms of pass throughs when pressed by andrew how are you really going to be able to prevent people from becoming llc and therefore benefitting from the potentially lower tax rate than they would as individuals he said, Service Companies would be one example that were not going to allow im not sure we heard that before in terms of specifics when it comes to how theyre going to sort of thread that, very importantly if everybody becomes a p
Affiliation, so we have very interesting orderly process and, you know, i asked each person what they wanted to do and i gave them one minute each . Each. I wasnt interested in anyones life history, and it was really sort of what do you want to do, and we had a few options and virtually Anyone Running a Public Company was on that group could nod and deal with the pressure from their constituents and so i basically said, well, it seems pretty clear, you know, that i really didnt want to have a melting ice cube type of thing. People were under legitimate astonishing pressure you should have seen some of the emails that i got tell me you know i was accused by people of being a nazi i mean, im jewish struck you as absurd, right it was absurd and i got hundreds of these things and so it was pretty clear that the country itself felt like it was going out of control we had a logical meeting, and decided that there was just too much pressure for too many people all running public companies. An
The s p up by 3 and nasdaq up by 15 this comes after all the markets looks looked very strong yesterday. The dow was up by 260 points s p was up by 26 it was a record close for the s p 500 and thats its first since august 7th the dow closed at a onemonth high take a look at whats been happening in europe this morning. The gains we saw yesterday as concerns about irma faded a bit and, again, some concerns about north korea not quite as potent as they had been as we headed into the weekend this morning, it looks like a bit of a mixed picture in europe most of the major bourses are higher with the dax up by. 5 and a similar gain in france the ftse is down by about. 2 . Lets flip the charts and see what happens overnight in asia youll see when it comes to asia, there were some closes actually, lets go excavate to the currency check it looks like the dollar is down a little bit against the euro today. Below 120 for the first time if in several days. 1. 196. Dollar is up against the yen, 109
Indexes the dow, the s p 500, and the nasdaq closed at records. Financials rose. And there was optimism about tax reform. And that enthusiasm put investors in a buying mood. So here are the closing numbers for you. The Dow Jones Industrial average gained 61 points to 22,118. Its gains were capped however by a decline in the shares of mcdonalds following a downbeat research note. The nasdaq was up 22. The s p 500 added eight. Ask anyone who invests in this market and they may have a different take on stocks and where they may be headed. The same is true of wellknown investors like omega advisers leon cooperman and tiger managements julian robertson, who says stocks are in a bubble. The market as a whole is at a historic basis, i think thats due to the fact that Interest Rates are so low that theres no real competition for the money, other than art and real estate. And so i think thats why the valuations are so high. The stock market has full valuation. That doesnt mean its overvalued, b
Table. And apple says the new iphone x is the future of tech. It costs 1,000. Wow. So is it worth the price . But we begin this morning with a look at todays eye opener, your world in 90 seconds. There is no electricity, no air conditioning, no water. This is a housing and humanitarian crisis. Absolute devastation and broken hearts. Floridians struggle in the aftermath of irma. Millions are without power. But the worst damage was done in the florida keys. They can take away everything that we have, but it will not take away our spirit and our heart. The president is trying to deal with tax reform, passing out a plan over dinner with three democrats. Well take the very best tax package we can that can actually pass. The president doesnt get to wave a magic wand. North korea condemning in, quote, the strongest terms the new u. N. Sanctions. Those sanctions are nothing compared to what ultimately will have to happen. Big news in the tech world. Apple announced the new iphone x. Experts sa