Fueled a huge rally in financials much earlier, but sectors been underperforming since being in office. Do you doubt the banks Going Forward . Its been a rough week for oil prices, and goldman cults the outlook for crude. Where do go from here and which names you buy and sell in the energy space. Closing Bell Exchange on a tuesday, shall we . Joining us here to kick it off, greg from hightower, managing director there, keith from post nine, and Rick Santelli at the cme for us as well. I want to start with choppy action in the markets today after significant close to the s p 500. Is it are we just digesting that move . Well, we are digesting that move, and, frankly, i dont see anything thats a real catalyst to break the market out to the upside or really bring it down in any kind of correction mode at this point in time where what weve been seeing the last several sessions is the market flat lined, moved sideways, and the russell has been between 137080 since february, since the middle
Manufacturing jobs back to the United States, as General Motors makes a major announcement this morning. For all of that, well turn to phil lebeau, who is in michigan. Good morning, phil. Reporter good morning, carl. Well talk about that gm announcement in just a little bit, but youre right, President Trump you can see the banner behind me its buy american, hire american. Thats the theme hell be hitting today. But hell also be talking about his administration moving to change the fuel economy standards law for the rules going into effect for the future. Let me show you this wall, which shows where fuel economy is h d headed between 2022 and 2025. Now, these standards were locked in by the Obama Administration back in 2011. You see the dramatic increase between 2022 and 2025, when the industry is expected to hit an average of 54 1 2 miles per gallon. Well, now President Trump has eventually said, look, were going to revisit these rules with a review in 2018. At the end of the Obama Admi
The week. Joe as we were talking about earlier, it felt like a summer friday, even though it is not summer yet. Not a lot of volatility. Alix one stock that didnt feel like a summer friday was apple. The decline actually taking off dow. Ints off the apple was responsible for half of the decline the Dow Jones Industrial average saw today. We saw a report from japan that apple is going to have production costs of its iphones and sluggish sales. The stock could recover for most of the day. Banks were a very difference story. This is a five day intraday chart. You can see that huge jump up there when earning started to come out and banks really able to hold onto that rally. However that rally builds on cost cuts. How much more just how much more juice can they get out of joe we saw a drifted lower on the twoyear and 10 year. 1. 75 on the 10 year. To be expected on a quiet trend. Scarlet the big mover got crushed, the most among the major currencies. Its as after the central bank stepped up
Manufacturing is not the largest portion of the u. S. Economy, but we know it is a portion that has been waning as the services portion has been taking resident president precedent. We see the nasdaq slipping into the red. Major averages coming off the highs where they were when we initially opened up. The highs that we saw in the futures overnight, the dow and the S P Still Holding on to gain. We have also Seen Movement in oil prices. You can see oil taking a sharp leg downwards. There were not any headlines that seemed to be the catalyst. Certainly a drop in manufacturing would not be good for oil prices and we tend to see oil and stocks tracking together. Stocks coming down after we saw, oil to this leg downward. I want to look at the other assets we are watching. Gold prices have been on a run, up 1 up half of 1 . Investors have trimmed their interest in gold just a bit. This is the price of gold and this is the net long in gold funds. We have had inflows going back to earlier, thi
100 points off. Russian president Vladimir Putin not holding back in that exclusive interview that you saw here this morning on cnbc, telling a global audience that sanctions imposed against his nation for russias actions in ukraine will in his words boomerang on the United States. What threatened the energy markets. Well have a closer look and hear more of what mr. Putin said at that time. Maybe thats contributing to the Broader Market backdrop here. Also its the crown jewels sporting event of the memorial day weekend, the indianapolis 500 but its not just a car race, also big business. Do you know the minimum racers pay to participate in this event . Its 650 now, and it goes up from there so why does it cost so much . Well speak with the race president live in just a few minutes. It must be the Car Insurance. Can you imagine what the Car Insurance premiums must be going around that track . A great question. Please ask that. I have a good question now. The dow is up 57 points this hou