10month high. Mashlgts are chasing histories this morning. Dows within 79 points of an alltime intraday high, jim, looks like we might get it closer to the open than some thought. Its interesting. Its the makeup. The makeup is extraordinary. It is completely trumprelated. This expansion in the banks is not just because of regulation, but its also because of Interest Rates going higher but also because people feel loan growth is going to be better, people feel lower taxes. So that group is a leader. That group has been when that group leads, carl, thats a freight train. Its always been a freight train. One remembers the 9192 come out of recession led by the banks, led by bank of america, what you saw there was a juggernaut. And those who said, hey, that cant last. Well, theyre not in the business anymore. Everyones weighing in. Icahn with wapner yesterday. Donald trump this morning saying he sold all his gold. Hes long the dollar. Long materials, short u. S. Bonds, short italian bonds.
European equities are trading. 30 minutes until the end of the wednesday session. Stocks are falling today. Of swings and between gains and losses on the stoxx 600. Conjugating, deliberating, thinking about what the double trump election victory means. Bond yields are rising. Today after a respect yesterday from the selloff since trumps election. Statecontrolled dutch lender, shares down by 3. 8 today. It did report stronger than estimated profits in the third quarter. It also said it would cut another 1500 jobs as part of a Cost Reduction plan. It returned as a publicly traded company last year. It says the job cuts it needed to offset rising costs. Voice royce says its making progress with restructuring efforts. Says its making progress with restructuring efforts. Profit, and for Group Revenue to be marginally lower than last years 30. 7 billion. The chieft, executive, in the midst of a massive overhaul after 5 profit warnings. Rolls royce down by 1. 5 . Had the mining index which ha
The round number watch continues. I love it. Coming up later on closing bell, a big news maker, Prince Alwaleed Bin Talal al saud. Hes been asking saudi arabia to diversify because of the natural gas explosion and fracing in america. Well talk about how hes allocating capital. Which includes big stakes in citi, news corp. And twitter. Dont miss that. We hear he made 600 million on the twitter investment, on the ipo there. Unbelievable. More fallout from the new health care law. A new poll of midsized american businesses shows theres a trend to move workers to parttime status due to the mandates of the law. This is something the white house has been pushing back against very hard. But these numbers tell a different and disturbing story. Were going to have more on that. Stay tuned for more results. Bill, a lot of people pushed back on this whole idea. I reported this first on meet the press and got killed on twitter for it because people disagreed with it. Now we have these results. Want
Fell 3 . Gold was unchanged. Oil sold off more than 2 dollars. Regulators are set to fine j. P. Morgan 700 Million Dollars over the london whale trading loss last year. Triple aaa reports. The nation has gone 1,000 days of gas prices above 3. 00 per gallon. And at our last check 13 people are dead following yestrdays shooting spree in dc. Glen schultz of Performance Trust joins us on the show now and glenn has the bond market priced in fed tapering . Absolutely, the bond market is priced in fed tapering. I think in the might of the bond market, tapering is all but certain. So the question really becomes how much or what degree does tapering will occur . Right now people are probably pricing in something between a 15 to 20 billion reduction in the feds purchase program. Right now, the Federal Reserve is purchasing about 80 billion a month in assets. So were really looking at Something Like a 25 reduction in the tapering program in terms of volume. So we will see what the said that the s
Cheryl spike is a she. I cannot wait to meet her. That is a little bit later. Lets head back to the floor of the New York Stock Exchange. Nicole e cigarettes are very popular. Everyone will be waiting for that segment. Five straight weeks of gains for the dow. Today, pulling back some. Down one third of 1 . You do have energy that has been weighing on the dow. We have had five straight weeks of gains. Also, everyone waiting to see what the fed has to say. We did get some pending home sales in as well. The saks fifth avenue story, they own lord and taylor, it does include dead and gives them find real estate. Peridot is buying them for 8. 5 billion. Back to you. Adam thank you very much. 835 billion deal. Two of the biggest names joining forces. Dennis the largest ad Holding Company in the world. You have paris based publicist. Annual revenue of 23 billion, almost. Controlling ad revenue. They are merging as true equals, but are they to equal . We talked to the ceo, the Number One Firm