It. If there is a challenge, we came tame it. If there is an opportunity we seize it. Lets begin by recognizing that the state of our union is strong, but our peopl because or treatment ar treatment are people are strong. Trish it was optimistic, and up lifting. It was a speech that wove in a lot of different stories about a lot of different people, helping to demonstrate the issues at han. The domecrats just wrapped up their rebuttal, their message, not so fast mr. President. We have more on that, but first we go to white house we have our 1own blake buhrmann standing by. It was a speech that was delivered in a way, it was compassion. And a languag a long speech,n hour and 20 minutes. There was a host of issues, that president wove through over the course of 80 minutes, leading into it two main policy topics to see where president would lay the marker down. That is dealing with infrastructure and immigration. President on immigration, talked about four main pillors he wants to see, a
Good morning welcome to squawk alley. I am john ford with holly evans. After a series of wild swings in the market, major indexes are higher but not across the board. Dow up 240 the next guest says the fed is partly behind the mayhem the past couple days as the president tweeted about market volatility in the old days when good news was reported, stock market would go up, today when good news is reported, stock market goes down big mistake and we have great news about the economy Tom Mcclellan joins me start with the fed, you think theyre in the middle of this . Good morning. Yes, the president is right. But the link between that and the economy is not as strong as people think what most dont understand, there are two fundamentals that govern movements of stock market first is how much money is there, the second is how much does the money want to be invested the fed is in charge of mostly the first one. I brought a chart. Whats not reported, the fed is selling assets last week they dro
Were going to start with some commodities news we have eia data good morning, carl. The data flying in the expectations this morning. Crude, we have a drawdown of 1. 6 Million Barrels. We were expecting to see a build that would be seasonal for this time of year gasoline, we were expecting to see a drawdown we got a build of 261,000 barrels. Production in the United States flat at 10. 27 Million Barrels per day. You can see prices in wti were trading negative before this report theyre raiding a little higher now, closer to 62 a barrel in terms of the price action that weve seen in crude overall, weve seen a 3 gain in the last month or so a 6 gain in the last three months were waiting for the prices to sort of break out of this 60 to 62 range but right now were still a little stuck back to you at post nine all right thank you. And stocks up this morning with the nasdaq trying to avoid the fourth negative session in a row. Amazons on a terror, accounting for 27 of all the s p 500s gains
It was a good day. European markets have been reacting to the day we had on monday and, they are all losing to the tune of lets call it over 2 you can see germany dax have been particularly weak not just yesterday but last week as well. The german what they should be higher than ours, their central bank loves to try to take business. They have not reached those negative rates yeah. Speaking of rates by the way, it is such an enormous concern i guess of our markets as we watch the 10yr hits a 4 and 5 last week on job number on friday we backed off on the yield as you can see that upton pri o price. Oil, that hurts now, on our road map this morning. It starts with the global sell off and the markets around the world. U. S. Futures you saw it pointing to another big day of potential losses with the stock market plunging of just whats driving this decline and what are you doing to protect your portfolio. Well look at whats taking the biggest hits or find any bright spots thats out there it
Im jon fortt along with david faber here at post nine. Carl quintanilla is cold out in minneapolis ahead of sundays super bowl let us send it out there now to carl who has more on some big guests coming up this hour carl yeah, jon minus seven this morning that will wake up. But were in a nice enclosed set here not too far from u. S. Bank stadium where the big game is coming up on sunday. Big hour obviously, well watch the markets closely. Well check in with j. J. Watt, Houston Texans linebacker about his being a finalist for the nfls man of the year. Also, about his guesses for the game and popularity of the nfl speaking of that, well check in with the chief marketing officers of pepsico north america bench and fritolay north america about the big purchases theyve made not only on halftime but the ad campaigns. The popularity of the league and how they translate that to consumers through the marketing dollars. A big show coming up all right carl, thank you. Lets get started talking abo