This thursday morning. Somebody flicked the switch at the fed, from the most dovish centralbank meeting of the 21st century, according to Goldman Sachs. The tone has changed. The rollcall of hawkish voices rolls on. Bullard questions the very validity of the dot. A cacophony of voices. Bullard, evans from chicago, lacquered from richard and lockhart. Market is beginning to be blindsided. They are necessarily underweight. Says, is a pimco currency risk. Goldman sachs, good old Goldman Sachs, will keep the dollar bulls happy. Goldman says, stop worrying. Value the dollar is already in the price. Lets see how the strength of the dollar is pervading across markets. You are seeing a dropout of some of the commodity plays. You have oil coming back off of its recent highs. Timesories are three what were projected. Volume study percent below the overall average. You are back below 40. The psychology of breaking markets. It into perspective for you, gold is at a onemonth low. Emerging markets a
Brexit, one fund manager says were missing the elephant in the room. One fund manager talks about pricing in donald trump. Back, and i will tell you what is happening where half an hour away the european open. We should get a fairly negative start to the day as we head into the long weekend. It is the long weekend. The second thing is, we probably have light volume today. Light volume has been a feature all week. I expected a itll be more exacerbated. I want to show you what is going on around the world to give you an idea of what is important and what is moving in terms of equity markets in latin america trading to the downside yesterday. That was the story overnight. We are seeing that in terms of canadian 10 year, Pay Attention to that. Oil, big move. The first thing you look at when you get your desk. Lets catch up with what you need to know. Days after Islamic State attacks, your interior ministers meet in the belgian capital to discuss counterterrorism measures. They continue the
Down another 1. 7 to 39. 07. Also, the u. S. Governments Energy Information administration said stockpiles climbed by 9. 4 Million Barrels last week. A couple other stories were following. Starboard reportedly now ready to finally launch a proxy fight to remove yahoo s entire board. The furm has now been a vocal critic of the tech companys management, most recently asking yahoo to sell its core business. Starboard owns less than 1 of the company. The wall street journal saying they will nominate nine directors to yahoo s board. Also, yum brands is reportedly in talks with private equity firms kkr and hopu inforvestmen to sell a Minority Stake. Reuters reporting the possible stake sale values the China Business at about 10 billion. And app sl reportedly expanding its Payment System into mobile websites. Its going to do it later this year. Recode says the move will happen before the Holiday Shopping season. Apples Payment System will be integrated with its Safari Browser to allow purchas
Itunes for print news, if you will, coming up. They are already in europe being introduced here in the United States. And offering refunds if you dont like the article too. Is that right . Really, thats interesting. After the bell, hall of fame basketball star bill walton will discuss his new book and whether nike blew it when it lost steph curry to rival underarmour. If you havent read it, i highly recommend it coming up next hour. Do you think bill will have an opinion . Did you ever see a cat fight a big . Ever been to tucson in july . Where were we . Lets get to the markets as we head towards the last hour of the week. Heather hughes. How are you . Hi. Sitting at post nine at the New York Stock Exchange and Rick Santelli from chicago. Ben, were breaking this fiveweek winning streak but not by much. We havent had the kind of pull back you would imagine the market would need after the kind of gains weve seen over the last month and a half . I think what weve seen is very healthy. We
The entire board of the troubled Internet Company after saying it has trade and failed to work with the company for the past 18 months. Josh lipton has more on this intensifying board battle. Reporter starboards letter distance mince words, saying yahoo s board and management have failed to deliver results for shareholders. Starboard saying significant board change is desperately needed to hold management accountable and properly oversee any operational turnaround plan, separation, or sale of assets. Ceo Marissa Mayer has tried to turn around the company by cutting costs and concentrating on growth areas like mobile advertising but it has been a losing battle. The company will generate less than 3 billion in digital ad revenue this year, a drop of 14 from last year, according to researcher e. Marker. That would be the single biggest annual drop in sales for yahoo in the seven years sense emarker began tracking it. We think this core business is worth more than zero which is where its v