Bloomberg. Governors central bank who may toe the line with the government. The question of Central Bank Independence here. This the first policy decision of the new central bank governor. The government wanted to cut. Thats exactly what they got. The rate to 10 from 10. 5 previously. Lira a stronger turkish because many did expect this move. Other board for you. I arrived in the city of london hours ago. , thanksto the u. S. Open now positive on futures. Dow jones futures up about one point. Here in london, still lower, down by about. 25 . Out, the japanese government 10 year yield, 13 basis points. When i arrived in london this morning, it was remarkable. Yields below 0. 4 on the way out to 40 year that. 40 year debt. David a big story for the markets. We are looking forward to the japanese and centralbank later this month taking more action or not. The European Union earlier today took another shot at u. S. Tech giant google, this time over the companys android software. There has b
Dime. There is a lot to get to this morning, jim. What do you want to tackle first . I think we have to first just talk about the fact that this is the overwhelming day. People are going to be making judgments and theyre too quick. People already decided to hate verizon and hate travelers. I think the most important this evening im seeing is the continued increase in oil, which is driving stocks, and a return to something we havent seen in a long time, which is if you dont do as badly as we worry about, your stock goes up, american express. Thats the classic example this quarter, right . When i go over what they said last night, they had a jump of 5 to 6 new Revenue Growth and they added new cards. Frankly, they just didnt screw it up. Verizon and travelers have been perfect. I cant speak travelers, i can always speak verizon. Verizon shares were up 12 this year or more. Its been a power house in what was a difficult period for stocks. Its still been benefiting. As for the quarter, it
S p reclaims 2100 a lot to look at including coke and yahoo. Europes relatively mixed, oil is lower as the kuwaiti oil strike has now ended. But first up intel announcing plans to cut up to 12,000 jobs, about 11 of the work force, weaker demand for pcs ask that exclusive coming up in just a couple of moments. As we said we brought in jon fortt to lead this interesting quarter and interesting plans now for the future. Its really interesting, carl, because we just saw ibm report a quarter where they talked about weakness in latin america, particularly brazil doing some cuts overseas. Now intel coming in saying the pc market is weak, but also the Data Center Enterprise demand was weak, its cloud demand thats stronger. Makes you wonder overall when it comes to the end user whether that end user is sitting at home or in a business or even at a data center that the business controls, what really is happening to demand for devices that run on intel chips. Of course stacy smith, cfo is going t
And not when the hooting and hollering in the market place says something must happen or else, whatever else is. And thats how the stock market could rally today. Dow gaining 74 points. Its highest level of the year, by the way. S p advancing 5. 65 , nasdaq climbing 0. 75 , because the feds got a brain. Its not on auto pilot. Its taking the long view. And it doesnt want to be the reason why the u. S. Economy gets weak, like almost every other country on earth. Especially during an election year. With one candidate, donald trump, running against a huge part of the federal government. You dont want the fed to be added to the list of enemies that can be trashed at a whim. [ booing ] when the fed decided today that it wasnt going to adhere to the four rate hike plan for 2016 that it foolishly laid out in december, we got a nice commonsensical change of pace. While i personally think the datas gotten a bit better over the last month and hiring is better too, we finally seem to have gotten a
Air . Because the market is marching back to the alltime highs . Well, i thought that, and a fum ber of the investors that i spoke to noticed that the link between correlation of crude and the markets is starting to dissipate somewhat, and apparently that not the case today, and the reason that it is dissipating is that as crude consolidates and the big volatile moves go away that the algo guys are saying, i have to find Something Else to wreak havoc with. But i am surprised that it is trading positive and it is counter intuitive with the kuwaitis coming back on after three days off, and people are kcome fortable with having foun the downside and so it is up. And doc, it is inevitable that the market wants to try to retest the old alltime highs. And certainly pushing it. And slow and steady march there. And pushing, judge. A lot of people sold as soon as we get close to it, it is going be another batch of selling, and the question is, how quickly do the people have to cover . If it rev