Im wilfred frost. Im Morgan Brennan in for sara eisen good morning. Lets get straight to the market picture. Resounding performance yesterday. The dow and s p up 1 . The nasdaq up by a half percent. Banks really soaring, sort of perfect storm for them yesterday. The new fed chair talking about raising interest rates, also talking about not increasing bank regulation, reforming the volcker rule and progress on tax reform banks disproportionately pay full tax rates, thats why the russell soared 1. 5 . Transports, too transports as well. Good day across the board for risk assets. Its good for the dow, good for the s p, up 48 points or so on the dow. The nasdaq is just south of the flat line, down 6 points bitcoin surging to a new record high, above 10,000 over night it surged as much as 4. 4 earlier, now 8 . So its 10,700 in asian trading hours. Its capped more than ten fold increase now this calendar year. Extraordinary run continuing up 9 10678 9 , 10,700 almost 11,000. I wonder how muc
Course, after a nice move yesterday, up moving along this market if you are happy about it european market, you asked and we answered. Spain and italy which we like to look at it as well one of the foreign markets the only good over night was the opening. I am not kidding. The olympics were good. 10yr note yield is the focus, 2. 84. More than we were yesterday. Tomorrow is the key question. Look at oil though you know stories today, well be the largest producer, bigger than saudi and russia. It is true. 10 Million Barrels a day and there is no place to put the stuff. There is not i know. The government relyinquishreg it is hard to have a lot of inflation and oil is considered one off. Thats ridiculous. It is important of the whole foods chain of every aspect. What people have been saying is expensive. I appreciate that now, i need to get to our road map. Wild ride market if you take what the futures are telling us in the early going here under armour sales the shares are doing somethin
New York Stock Exchange to get the official dow numbers has the. I thought they would say rally or we should have those daily. I remember the dow 20k hats. You did have one in your desk. I did remember it took a long time to get there . You have that and your cincinnati has the there both red red hats. Welcome to Worldwide Exchange on cnbc. Im sara eisen im wilfred frost i will get you an arsenal has the. That will be red, too. Is it yeah. Im such an arsenal fan we should move on i have blue hats at hem for chelsea. You dont really care about chelsea. No, happy to support arsenal. There we go after another record rally on wall street, rally cap or not, we saw record closes for the s p, the dow, the nasdaq, the russell 2000, the dow transports all hitting fresh records. Dow futures are higher, 24 points s p futures flat nasdaq futures down two. Tenyear treasury note yield, we will get a bunch of Economic Data starting with adp today then durable goods later, jobs on friday. The question
U. S. And turkey continues to heat up and its having an impact across all markets in turkey. Dollarlira is up by 2. 4 . We saw a 6 rally earlier during the thin liquidity trading but now we are well off the highs of that session. The stock market continues to get hit come off by 3 and airlines are really week in turkey. You wind up having a monster selloff happening in the bond market. Are seeingt, you some buying an outperformance in spain. David it is time for the morning brief. We have a big week ahead starting with a Parliament Meeting today. Tomorrow is the meeting with the imf and world bank. We will get Bank Earnings from jpmorgan and wells fargo thursday and on friday, we will get u. S. Economic data including cpi and retail sales. On top of all that, markets will continue to watch the growing tension between the united turkey. Nd over the weekend, both countries suspended granting of these is for one anothers us citizen to visit and the lira and turkish stock market took a hit
The fed decision is behind us, at least this one. Now were counting down to the earnings in less than an hour, numbers from facebook, tesla, qualcomm,shake shack, and many, many more. Well tell you what to expect, break down those numbers as soon as theyre released. Here we go again its going to be a huge afternoon. The house tax bill was supposed to be released today now its expected tomorrow morning. We do have a strategist who says the best outcome for the market will be if tax reform does not get done at all. Hes doigoing to explain why shortly. We start with the dow, s p, and nasdaq hitting intraday highs earlier in the day the dow was up 140 at its peak, but all have pulled back from those highs. The dow no, nobody is in record territory lets get to our Closing Bell Exchange diane swan, robert frost at post nine, sitting next to keith bliss, and Rick Santelli checks in from the cme in chicago diane, im going to start with you. No surprise. I asked Rick Santelli yesterday if anybo