Look at crude, which has been dictating terms for equities lately. Relatively unchanged on wti, about 50. 18 per barrel. For brent, 51. 88, barely higher. Rbob gas edging up a bit. Well get back to the markets in a bit. Breaking overnight, the u. S. Military launching tomahawk cruise missiles against radar sites in yemen after incidents earlier in the week where a navy ship was fired on from a rebel controlled area. Now to this mornings top story, embattled wells fargo ceo john stumpf is out retiring Effective Immediately. Tim sloan taking over the top job following the highprofile scandal involving their sales practices. News came out after the market closed yesterday. Looks to be up about 1. 5 in extended hours. Notably above 46, a level we havent seen in some time. Helping. Helping. Yeah. Wilfred frost spoke with tim sloan late yesterday and asked him if stumpfs departure was a necessary condition for the company to move on. I think johns decision to retire is one that, you know, is
Candidates tonight in las vegas. Morgan stanley wabeating the street. Well look at the state of financials. And this leaked salesforce document shows acquisitions the company considered targettarget. Are more big buys on the horizon . First up, Hillary Clinton and donald trump square off in their final president ial debate tonight. Clinton does lead most polls with 20 days to election day. Bloomberg has her up nine ahead with men for the first time, that poll was tied in september. Jim, the market hasnt adjusted as much as some of these polls have. No, and i think that one of the combinations here is labor, bank stocks have done well. Has reaction been great . Theyve been okay. But if the if Bernie Sanders gets elevated to go to the senate, goes democratic a lot of talk about Budget Committee what that would mean. Yes. And Elizabeth Warren becomes more of a force than she already is, then i think a lot of these banks are going to be back in this, well, lets relook at what happened at w
Than expected. Early cyber monday show record sales. And speaking of retail. Tiffany shares are on the rise this after a big beat, traffic gains but will the most hype prod file resident have an impact on tiffanys fifth avenue store . Were going to tell you what they said on the call. At t unveiling its directv now service. The streaming service will start at 35. Will this be the Tipping Point for future cord cutters . But first up the economy was stronger in the Third Quarter than the government originally thought. Advised up, that is the fastest pace in two years. The numbers out one day after the trump rally took that detour in the russell snapped that 15day winning streak. Virtually all of the improvement is consumption, jim, which is now 69 . People are going out, doing things, i think people this cyber monday, numbers look good. No singles day, but its like 1, 100th. The setup is such that Interest Rates have to go higher prp even from here. Youll see the banks continue to move b
Is out, but john, mike, and me, post nine for the hour as the dows trying to repair early damage down about 30 points right now. The big story though, some of the redstone coming out on the battle for viacom. Sources tell us the deal is in place bringing to an end nine months of legal battles. Sumer in and his daughter are coming out on top. The settlement posted three lawsuits under way without putting to test the mental competency which has been called into question. The sources tell us viacoms ceo will step down immediately and coo tom dually will become interim through the end of september. He is not exactly losing. Hell receive a 72 million severance package, and thats on top of 491 million hes brought home in compensation from his past decade at viacom. Now he is among the most highly paid ceos despite the fact that viacom vastly underperformed the s p 500 and sumer in red media giant cbs. He has until he steps down as executive chairman on september 13th to prevent his proposal
Apple made the argument that the governments request is unprecedented and violates among other things the companys First Amendment rights that protect against compelled speech. On the other side of the corporate story thats capturing the worlds attention is fbi director james comey who earlier today testified on capitol hill. I love encryption, i love priva privacy. When i hear corporations saying were going to take you to a world where no one can look at your stuff part of me thinks, thats great, i dont want anybody looking at my stuff. Then i step back and say, Law Enforcement, which im part of, really does save peoples lives. Rescue kids. Rescue neighborhoods from terrorists. We do that a whole lot through court orders that are search warrants and we do it a whole lot through search warrants of mobile devices. Were going to move to a world where that is not possible anymore . The world will not end but it will be a different world than where we are today. Amon jaffers has been follo