Welcome, everybody, to power lunch. Im tyler mathes the win streak for the s p is clearly in jeopardy on this friday, this jobs day. Mornings job report, the s p, six record closes inthe row. The longest streak since way back in the clinton era, 1997. Financials, the best for forming sector today xlf hitting the tenyear high. The move could be a result of the treasury treasury today recommending looser Financial Market controls repealing sections of the dodd frank act and biotech is on the move with the ipb hitting nearly 2. 5 for the week speaking of highs, netflixs alltime high after it announced price hikes yesterday. Costco surprisingly the worst performer in the s p 500 it is rarely that. But it did report a drop in Profit Margins and that will do it, pete. Michelle the stock is getting hit hard, but we begin with the jobs report 33,000 jobs lost last month. The hurricanes being blamed for the first monthly decline in seven years. So should investors just throw the report away . S
If you check out crude oil, which is probably the biggest market story weve been watching for a week or so crude Oil Yesterday was up slightly to 42. 74. This morning up to 42. 84 youre still talking about wti below 43 a barrel. Americas 34 largest banks did well in the stress test. The results show even during a large recession large banks would be well capitalized and could support homes and businesses when times are tough. The second part of the stress test will be released next wednesday. There are talks about whether things might have loosened up a bit with the fed. Doug parker says he is not happy with Qatar Airlines plan to buy a 10 stake in the company. Parker telling phil lebeau he found out about it yesterday parker telling cnbcs phil lebeau he found yesterdays offer confusing, adding why an airline were aggressively fighting would want to take a stake makes no sense he wonders if the motivations were misguided and ill conceived. They have been fighting over policy in washing
Stocks after starting out looking like it was going to be a rough week. Well see how friday finishes out but things are flat right now. Jack dorsey heading back to the helm of the company. Hell going to run things why they try to find a replacement for dick costolo stepping down on july 1st. Shares did pop on the news yesterday afternoon and you can see theyre up almost 5 in the premarket and as we said we will be talking more about that in a little bit. In addition alstom is defending General Electric deal to officials. The french Engineering Group is trying to sell its power business to ge. Reports of a statement of objection from the European Commission did not prejudge the outcome of the inquiry. Retalked about this on the show but they suggested qe needed to offer bigger concessions to win eu approval it needs to pay for an expanded recall of cars. In other corp. Gnat news we just talked about blackberry may put Google Android software on one of its devices for the first time. Reu
Stocks after starting out looking like it was going to be a rough week. Well see how friday finishes out but things are flat right now. Jack dorsey heading back to the helm of the company. Hell going to run things why they try to find a replacement for dick costolo stepping down on july 1st. Shares did pop on the news yesterday afternoon and you can see theyre up almost 5 in the premarket and as we said we will be talking more about that in a little bit. In addition alstom is defending General Electric deal to officials. The french Engineering Group is trying to sell its power business to ge. Reports of a statement of objection from the European Commission did not prejudge the outcome of the inquiry. Retalked about this on the show but they suggested qe needed to offer bigger concessions to win eu approval it needs to pay for an expanded recall of cars. In other corp. Gnat news we just talked about blackberry may put Google Android software on one of its devices for the first time. Reu
Stocks after starting out looking like it was going to be a rough week. Well see how friday finishes out but things are flat right now. Jack dorsey heading back to the helm of the company. Hell going to run things why they try to find a replacement for dick costolo stepping down on july 1st. Shares did pop on the news yesterday afternoon and you can see theyre up almost 5 in the premarket and as we said we will be talking more about that in a little bit. In addition alstom is defending General Electric deal to officials. The french Engineering Group is trying to sell its power business to ge. Reports of a statement of objection from the European Commission did not prejudge the outcome of the inquiry. Retalked about this on the show but they suggested qe needed to offer bigger concessions to win eu approval it needs to pay for an expanded recall of cars. In other corp. Gnat news we just talked about blackberry may put Google Android software on one of its devices for the first time. Reu