Better sales, higher profits from our Great American companies are why this market sometimes feels like you can buck anything. Dow gaining and nasdaq advancing 6. 9 to a new all time high even as the price of oil plummeted and the president s tax plan seems like it could be a real stretch to get through congress. First let me reiterate what i said all along about the markets doing really well. Not about trump or the tax cuts or the fed or the overall economy. Im not saying washington is a sideshow, not when its all over the front pages every day. Its certainly not the main event when it comes to stocks. After listening to all the president s men talking about their one page plan to reform the tax code yesterday i was a tiny bit hopeful something could get done even as im generally skeptical of congresss ability to accomplish anything. Then if you listen to the incredible squawkbox show at capitol hill my tiny bit of hope vanished. Listening to the democrats and republicans, thinking th
Anna welcome to bloomberg daybreak. Im anna edwards. Manus im manus cranny. Another day and another momentous moment from the white house. We are talking about the Washington Post article which has been denied by the white house that the president classified information to the Russian Foreign minister and ambassador. How are markets taking this second big political punch . The dollar has dropped. It started pretty much in the middle of last week. Poor sales, cpi data so the dollar fell in the fifth day in a row, the longest losing streak since march. The dollar is back at level when President Trump came to our. This is the second political punch the dollar is lower. There is no aggressive Market Reaction to the story which has been denied. Anna the dollar weakening for the fifth day. They have seen this moments of Building Momentum building. Asia risk radar on asian equity markets now. You can see a little bit of risk aversion trading coming through as these headlines dropped. The doll
In fact entirely for those three in the green. Look at spain there right now, or italy. They may be up, i believe. Ten year note yield had been hovering around 2. 2. Moved up a little bit yesterday. 2. 24 is where we are right now. On the ten year note yield. You can see crude oil also edging above 50 bucks. Thats important because it should produce some sort of movement in the stocks. It has not. Schlumberger, the Great American the Worldwide Service company is pretty much where it was give or take a few points from the when oil was at 26. That group is the one thats lagged the market if you wanted to ask me whats the key. That group has i was going to do that later. Were just getting started. Well, its a sector key. Im sorry interrupt. But you mentioned are you interrupting . Never. Thank you. Our road map is where well get to right now. I will ask you about that key u. S. Futures pointing to a higher open. Deere surges, on the move. This after the companies came in ahead of the esti
Weve only got three hours to cover it, Varney Company is about to begin. Otto warmbier has just passed away. He spent a year and a half in north korea. A lot of bad things happened. But at least weve got him home to be with his parents, with are they were so happy to see him, even though he was in very tough condition, but he just passed away a little while ago. Its a brutal regime and well be able to handle it. Well, that was President Trump commenting on the death of north korean detainee Otto Warmbier. Take a look, oil prices are at a new low, the supply a major concern, hasnt been this much since november of last year. For many people, the good news, silver lining, the National Average is 2. 28 nationwide. The cheapest gas, by the way, south carolina, 1. 96. In oklahoma 1. 99. Alabama close to the dollar handle. And take a look at u. S. Futures, stocks are at record territory. We were up and now were down. The question people ask, is there any stopping this market . I dont think so
We have a new approach in afghanistan. Neighboring pakistanis on notice, donald trump not happy about terrorist sanctuaries in pakistan. He said we are not leaving, we are going to win. He stayed on script, his tone was measured, he was president ial. After a difficult summer his supporters hope this is a new start. He heads to arizona for an oldstyle rally. The markets, your money, we will open higher with 400 points from the dow record, we had a dip, Morgan Stanley says buy it and evidently some people are. Politics a come back for trump, money, cut back to stocks, maybe, varney and company is about to begin. We are a partner and a friend but we will not dictate to the Afghan People how to live or how to govern their own complex society. We are not nationbuilding again. We are killing terrorists. Stuart you heard it and saw it, the president laid out his new strategy for afghanistan. As a candidate he said he wanted out. As president after sitting in the oval office he concluded we h