Today. Down by 1. 5 . Well dig into that over the next two hours. We begin with the banks. Dan warner is a banking analyst at morning star. Great to have with you us. Dan . I dont understand why one would be invested in banks right now unless you simply wanted to preserve or lose capital. Give me the bull case. The bull case is that if you with the strong economy, with the low cost and positive thats we, have were still seeing strong loan growth. I think i mean there are headwinds. But for longer term, i think you still want to be in banks. The fed will raise rates at some point. It always seems like the last few meetings when he some excuse or some reason at the last minute why they havent raise the rates whether its geopolitical or a jobs report. They will raise rates. I dont i dont think its going to be quite maybe you may see one before the lection. I think that lection may have smim pact on the timing of the rate increases. I would look for it more december or thereafter. So i thi
And, of course, kelly will be interested in this. Who killed egan. Weve gotten more discussion. Amc has if the new thing coming out. Well have plenty of questions with Norman Reedus. Weve got an interview with Howard Schultz, ceo, about his push of starbucks to china. And you saw it live here on cnbc. Donald trump wrapping up the News Conference after clinching the nomination. Well talk energy among other things coming up. Ceo at the happiest place on earth isnt hopeful with Bernie Sanders. Well tell you whats going on with this one coming jup lets start with u. S. Foods, their initial offering, and how that may help the ipo thaw a little bit. Mary thompson on the floor. Hawaii, mary. Hi, bill. Things were quiet but now its hopping. U. S. Foods was one of four stocks to make their debut here at the new york stock skparng. Lets take a look at where its trading right now. It priced at 23, which is toward the high end of the range, but its up ever since. Now 2471. Why is it its the second
Ford, all of these basically weaker than expected although slightly better than expected for fiat and chrysler. The real concern is when you look at car sales. Were not talking about suvs and pickups. Were talking about car sales. The numbers, thats not a mistake there. That is accurate. Fiat chrysler cars down 39 . Gm down 25 . Same with ford. Toyota, down 15. 9 . What is happening here . A couple things. Moderate gas prices are having an impact. People are saying if i have gas at, what, 2. 32 a gallon on average in this country, hey, its still relatively cleep to where it was a few years ago. As a result, you see people rotating to crossovers, suvs. So when you take a look at the japanese automakers sh the reason were showing you the stocks is because these guys have more exposure to the car market in north america relative to gm, ford, fiat chrysler. Keep in mind, those guys have much greater exposure to trucks and suvs relative to the japanese automakers. Any way you slice it, they
Mathisen is somehow not wearing a tie. More than Economic Data never takes off and you got some big data earlier today. Lets find out what it may say about the economy and your money with the very bespoke Steve Liesman. I may take my tie off. The bad news is that with this mornings revision, we couldnt even get to 1 for First Quarter growth. Q1 actual up 0. 8 . That is an upward revision. There would be hopes for a whole number. 1 couldnt make it. The good news is that weakness is so far not spread to economists for this quarter. Here is the cnbc rapid update. There is news in this, folks. Its unchanged. The yfd a rebound remains intact. And some big guys like Goldman Sachs had the upper range there of 3 . Here are the details of the gdp number. Consumer spending that, is the big disappointment. Still at 1. 9 . Business investment revised downward. Businesses are simply not spending out there. Housing is strong. Revisions upwards to net trade. Exports were a little better. Imports a li
Dow is up 25 points. S p is up by 2. Nasdaq up by close to 7. Overnight in asia, better than expected Economic Data coming out of japan. Factory output rising. 1 gain to the nikkei up by 166 points. If you take a look at early trading and european markets youll see at this point thing, relatively flat. Red arrows across the board. None of these major averages down by even 0. 2 . A race looking at how european average, up on asia. They read articles like that. They dont last long in these websites. No, they dont. I guess thats the same way with print. Were going to talk about the top stories. Do you like a fourday week where you have a friday off or a fourday week definitely a monday. Its pay it forward, right . Pay it forward. You dont do anything for the friday off of the foreday week. But were youve put in five last week and get three off. Its already tuesday, everybody. Monday is gone. Its better. Its better. Among our top stories this morning, price of crude and the only markets we