Similar big gains. Big. The dax in germany, the cac in france, up by 1. 5 . The ftse is up close to 1 . Look at the dollar. You will see in currency markets just focusing on whats happening with the dollar. The dollar is up across the board. Euro at 1. 0541. The dollar yen at 113. 62. Interest rates finally went up. 2. 42. Up from 2. 35 yesterday. 2. 42, were calling that up. Good to see someone making europe great again. You know, sara eisen told me we should focus the show on the peso. Thats not a bad idea. It is interesting, even europe. Those are big gains in europe. Lets get caught up on some of the big corporate stories. Snap inc. Expected to have the ipo after the close today. The Company Targeting a 17 to 18 range, valuing the company at 25 billion. Separately the Company Reportedly developing a drone. The New York Times saying the drone would be used to take puck chores and video. Youtube planning to launch a Live Tv Streaming Service featuring broadcast news and cable channel
Financials hitting its high of nine years, bank of mek, citi, goldman, morgan stanley. Up a full percentage point qqq. And this rally is reaching all corners of the market with more than a fifth of the entire s p 500 hitting new 52week highs. Brian . Melissa, thank you very much. Im Brian Sullivan down in washington, d. C. What a day to be here. The good feeling after the speech certainly has investors feeling good. But speech aside, is the gop more likely to really get what they want . What are the democrats likely to give up to help the gop get to their goals . All that stuff from here. Great guests lined up from the Russell Senate building rotunda here in washington, d. C. Ill send it back to michelle. Actually, ill pick it up from there. Tyler. Welcome, everybody, im tyler mathisen. What a day we are witnessing. Record move for stocks, president s comments before a joint session of congress, kicking the trump rally into high gear. And i thought it was just because im back after two
Its unbelievable. Stocks soaring after the president s address to Congress Last night. Well go over what he said that has investors so excited today. Up 350 points. 12,000 f 21,000 for the first time ever. We passed 20,000 35 days ago. It was january 25th. Seems like calendar days . I guess. I dont know. Its been so fast. Its very fast. The quickest one ever, was it 21 . It was back in the 90s. We have dow components like apple, home depot, 3m and visa trading at record levels. Financials leading the rally. Goldman, jpmorgan and wells fargo hitting alltime highs. 3 trillion of wealth has been created in the stock market since the election. Well talk about whether there are still opportunities out there in this market. Thats a lot of dough. Not a bad day to price your ipo. Were expecting the parent company, snap, to come out after the bell today. Well bring it to you as soon as it happens. With the dow powering over 21,000 for the first time ever. Insights from bob pisani who has been w
Street. Bob pisani. A lot of fun today the company priced at 17 per share, it closed at 24. 48. I call that a successful opening. Now snap has a market cap, 34 billion. This is the same neighborhood as travellers, deere, General Mills and marriott. Why the healthy pop . The markets are trading near historic highs. Second investors have been starved for a high demand ipo for a long time. Third ipo returns have been strong. The average ipo is up 26 in the last year. And finally, the number of shares the company floated pretty small, just about 14 of the total shares outstanding. This was a great first day pop but a lot of Tech Companies have had great first days then they run into trouble within six months or so. Item number one. Facebook priced at 28. 12 but had a terrible time after that. Then we had twitter. They priced at 26 in 2013. Huge first day. They closed almost 45 but it too was plunging six months later. And we have alibaba. They priced at 6 in 2014. Their first day they clos
Welcome to power lunch , im the dow off by 52 points, and nasdaq is lower by 27, as melissa said, soaring in the debut, i almost said snoring. More on that in a moment, but, first, we are following a big breaking story on caterpillar. The Stock Plunged in the past hour on news federal agents are searching that companys global headquarters, off nearly 5 , you see from the intraday chart when the news broke. These photos coming into cnbc. In them, irs agents are gathered outside the headquarters. Lets get to morgan with more on the developing story. Morgan . Reporter thats right. As you mentioned, shares of caterpillar sliding now, as federal agents search three facilities, including in illinois. As you see from the photos, you just showed one, theres another one that has cars lined up outside of the head quarters, and those cars belong to federal agents. In this particular picture, you see agents from the irs, also fbi and Commerce Department participating in these searches. The Company