All with this plan. We are looking for the middle class and we are looking for jobs. All this coming ahead of the visit to florida will he were surveyed the damage from Hurricane Irma is a criminal investigation is launched into nursing homes. Breaking news overnight. In the threat from north korea wants to reduce the United States to actions in darkness. Market lower this morning after the major indices closed at a high yesterday. Major indices of the Dow Jones Industrial average up a fraction of two points. S p 500, nasdaq down fractionally. Investors waiting on the bank of england decision this morning happening in the next hour expected to keep Interest Rates unchanged. In asia overnight, markets lower to close concerns about chinas economy weighing on the market after industrial activity is the shanghai composite down a third of a percent. The other is mostly weaker. Martin said by breaking up behind bars. His bill has been revoked after offering money for a piece of Hillary Clint
That the ecb is continuing crude getting a nice bid on the iran conversation. Looking at the banks, bank of america up 6 10 of 1 . Wells fargo unchanged. It feels like a really solid quarter for bank of america on earnings. It was the Consumer Banking unit that felt really good. Loans and deposits were up. They werely only at 834 million. David it looks very solid but we looked back to yesterday and thought citi and jpmorgan were doing well and they turned over. Alix fic was down 22 . Is the focus for banks turning to consumer loaning, which will make wells fargo allimportant . We want to turn to Michael Mckee with a very special guest. Michael good morning. Washington federal and Eric Rosengren joins us on the boston fed annual Monetary Policy conference. A special welcome to the Bloomberg Television and radio listeners, particularly those on one of 6. 1 fm in boston. Thank you for joining us 106. 1 fm in boston. Thank your for joining us. Nice to have you in boston. Michael we know h
That today, we are here with ron baron at the baron onference we have a lot of things coming here the resort ceo will be joining us and hyatt ceo is going to be here these are three invesmentes of baron funds. Two of the three, baron already made over 1 billion on. Im not going to tell you which two. You have to stick around to find out. The other made several hundred Million Dollars already. We are going to talk about these issues when we sit down with ron, he talks about the broader markets, which he is very positive on them we are going get to that in a moment and we talk story stocks. Stories he sees from this bottom up investment that he does where he looks at things very, very closely, he and analysts we are going talk about the bargains they see along the way and the deals that are out there on the horizon hes sitting out there with us we are going get to him in a moment guys, its coming up in a few minutes. He did not invest 100 billion dlar to make a billion. He is far less th
Flanneryw ceo jeff as the new ceo. I love the job, the company. Andink today is confusing, on the other hand so interesting. Iran gen 2008. I ran ge in 2008. It was bad every day. David joining us now is a bloomberg as dus analyst for intelligence. Why now . Jeff immelt had been getting pressure from all sides. Theystepped it up when initially bought into the stock. Would be passive investors, and when the numbers did not come through, they stepped up the heat. That was part of it, but it had been coming from a lot of different directions. David why hasnt jeff immelt been able to get the stock up . 2009, he did get a nice bounce as he started to redirect the company. Is a questionat among a lot of people. Shrunk ge capital, went back to the industrial base, started a major Digital Strategy , but the numbers have not been coming through and people have been upset about the cash flow. It is one thing after another that has led to the frustration. , that decided that immelt it is time. Th
Expect sluggish growth. He said he wants to take that think about and rates. Oil is currently unchanged. It has been bouncing around all morning long. Yesterday falling to as low as 42. 75 a barrel. It is entering a bear market, the 21 to its peak, and dollar coinciding somewhat with oil. That is holding your a onemonth high, gaining as much as 1 over the past two weeks. Lets get an update on what is making headlines outside the business world. We are checking in with them on first world news. Has won theel special election for the house seat in georgia for the gop. She took 53 of the vote against democrats. Democrats have hoped to capitalize on debt President Trumps low approval rating. In london, the queen said the government will try to maintain its subtle relationship with european allies. She outlined Prime Minister theresa mays legislative agenda in her annual speech department. Queen carried on without her husband, prince philip. He was hospitalized for an election. In saudi ara