We need to get a snapshot of todays action with julie hyman. Julie we havent had big pullbacks recently. There has not been that Much Movement either way in u. S. Averages. The fact that we are seeing a pullback that is good getting there are these concerns about growth. The strategist over at Goldman Sachs says today that the recovery we have seen in the United States in the stock market is likely to falter before gets a second wind. There arere was two big issues. A slowdown in the buyback activity. He thinks the other reason is going to be the drop in profits for the s p 500. Take a look at the bloomberg. We are seeing the s p 500 strategists are still pessimistic. The median forecast is 2150. And im going to send it back to you. Belowthe dollar falling ¥110 for the First Time Since october of 2014. That means the yen is at its strongest level in a year and a half. It just illustrates the risk off trade we have been seeing. Negative Interest Rate policy continues to give jim at jap
Dow. Y. 5 , as is the health care is the only group in the green. Rest the tearye reading as the day has gone on. Telecom down big today on verizon earnings, utilities taking a hit. Staples as well in financials, the biggest racks we have seen at the moment. And financials, the biggest drags we have seen at the moment. Under armour beating estimates. Citrix systems also beating estimates and Union Pacific coming in, cutting costs nato costs innt cutting a tough environment. United airlines sang passenger revenue for each seat flown onemile will continue dropping. Those shares often percent. Saw a decline resume last quarter. Off 10 . Shares what else has been moving . Julie oil has had a volatile session along with the currencies on the ecb, on Mario Draghis commentary. You see of bouncing around. You see it bouncing around. Mario draghi talking about patience. News, viacomaking and dish resolving their differences over a fee dispute over which dish Network Subscribers would be able to
We will discuss the markets in full detail in just a moment. Also want to let you know we are waiting on the president to make those comments from the white house on those new regulations regarding tax inversions, ones that have seemingly put that pfizer and allergan transaction, 160 billion transaction, in jeopardy at this hour. We will follow that story. We will take you live to the white house and we will discuss the broader ramifications of it as well. But lets begin with the markets. Stephanie, you do have the market. The dow heading for its worst twoday decline since february. Brent and wti are rolling over today. Is that what the rally hinges on . Well, i think we are waiting for earnings. Its always a tricky time between earnings because then we get so absorbed in the macro. Im actually looking at the dollar, looking like its peaked. Oil looks like its in a training range. Its not collapsing, its kind of stabilizing and in a range. Interest rates are low so i think thats a good
Cant really break 40. A little tough. You know. Elon musk is the reason. Among the other top stories, president obama will meet with fed chair janet yellen on the state of america, on global economies and wall street reform and longterm economic outlook. Vice President Biden will also attend. The meeting is closed to the media. The earnings highlights, alcoa after the closing bell. Unofficial start to the earnings season is always alcoa. Jpmorgan reports on wednesday. On thursday, bank of america, blackrock, bank of america and citigroup. Mike thompson will join us in this hour with a look at what to expect for this earnings season is and the equity markets from here. Well also get several big data points on tuesday look for import prices which includes an inflation gauge closely watched by the fed. On wednesday, retail sales, pricing index and the beige book report. And on thursday, march cpi. Joe, hold on to your seat. Yeah, the imf says it supports the move to negative rates. That r
As we learned last week, americas economy added 215,000 jobs in march. That means that our business has extended the longest streak of private sector job creation on record. 73 straight months, 14. 4 million new jobs, unemployment about half of what it was six years ago. This progress is due directly to the grit and determination and hard work and the fundamental optimism of the american people. As i travel around the country, what stands out is the fact that the overwhelming majority of folks work hard and they play by the rules. And they deserve to see their hard work rewarded. They also deserve to know that big corporations arent playing by a different set of rules. That the wealthiest among us arent able to gain the system. Thats why ive been pureeing for ye pushing for years to eliminate injustices in our tax system. So im very pleased the Treasury Department has taken action to prevent corporations from taking advantage of one of the most insidious tax loopholes out there in flee