Start. How do you start six months, andrew, in terms of the markets and the economy and what weve heard from the fed. Its like a tolstoy novel. You could do a month and it would take a half hour to go over everything we have seen you throw in a. I. And his investments around the world and you remind yourself 30 years 30 plus every year. That is almost its an amazing thing probably will never been done again. I dont know how it was done once unless you made some deal with someone who knows these things to do that well is spooky. Its scary i guess it comes from being smart. Were okay. Hes one of the smartest when it comes to these issues that will be 25 minutes of stan hes going to be in your chair you got to give your chair to someone. I would warm it up for stan. Perfect lets check the markets which well be talking about at length today u. S. Futures indicated up about 78 points. Mixed on nasdaq which is off a little so much of it has to do with a lot of what we are talking about which
Good buy into early end and maybe beyond. But lets start with todays rally. Joining our exchange today is jim kahn, sarge gilfoy, and Rick Santelli at the cme. Rick, im going to start with you if i may ahead of the fed meeting tomorrow weve got a bit of a stealth rally in the pound the pound. The dollar over the last week or so including a little bit today how many rate hikes over the next 13 months are priced in you know, i dont know that much of the dollar activity that were seeing today is necessarily predicated on what investors think about 2018 whether its two, three, some are saying four. I really think its more of a function of the u. S. Market kind of bucking the trends of europe, the spreads of our treasuries especially the long end is distancing itself from the yields of the long end of europe and as that occurs, if you were to put that on a chart, the differential at 210 basis points seems to be one of the factors that could be dragging the dollar up a bit. More in a yearend
955. Cac down six, dax germany dan thinks. Stocks mostly higher with the exception of china. Shanghai composite could not get it done. The others up fractionally. Get it done. President trump calling on congress to take action as he sells his plan for historic tax reform to the American People. America is finally back on the right track. But our country and our economy cannot take off like they should unless we transform americas outdated, complex and extremely burdened some tax code. Now its our chance to reclaim americas destiny. Borne the major push for tax reform including what the commanderinchief cause a pay raise for the middle class. The white house is not stopping there. President trump moving forward without congress to sign an executive order on health care which will allow people and organizations to buy insurance across state lines. Fox Business Life to the president s event that begins at 11 15 a. M. Eastern this morning. evacuations are underway as massive wildfires grow
So presumably theres a guarantee these initial customers will actually get their hands on the device. The iphone x is important, because its about protecting margins at the Company Margins dipped below 38 guidance now is for margins to recover to 38 to 38. 5 , which means that the cost of the device is okay for customers and theres a real enthusiasm for the iphone x which is more expensive than the latest upgrade to the iphone 8. Sales of the device will be closely watched. There have been declining expectations on the back of some initial reports about what the x looked like and also production to where street forecasts dipped 2 2. 8 billion from when the iphone event was first launched to where we are today. So the market was guiding lower on what it was expecting from the new device when you talk about the device, why is it important . Hardware is about 90 of sales at apple as opposed to Services Revenue. Lets show you what were seeing on the boards in europe. It will come down to t
Ahead. Power lunch starts now yes, welcome to power lunch. I am michelle car use oh cabrera. Stocks have modest gains trying to avoid a Third Straight day of losses. Nasdaq higher by four. Two big toy makers rally on mattel jd. Com single day sales total more than 19 billion. And ggp is higher, after offer from brook field Property Partners to buy shares it doesnt already own. Higher by 8 tyson foods, higher 1. 5 beat on earnings that ceo joins us in a moment on power lunch. And tesla rallying 3 . Elon musk tweeting about a semi truck, unveiling this week saying it will blow your mind. Over to brian. He is in a special place yeah. Naples florida at the Global Leadership conference. Try to blow our viewerss minds with great guests. Talking market volatility or lack of. Bitcoin, Jpmorgan Chase, what happens when the Central Banks pull money back. Jeb bush on state of the gop and tax reform and ian bremer on trumps big trip, why a speech given by the president of china couple weeks ago ma