Morning. Its heading east. The pilots will take turns flying day and night. If goes as plan the trip will end in mid june. Four u. S. Stops are planned. Here are the big stories today. Apple holding a major press event in san francisco. The Company Expected to offer details on the watch including a high end model that some say could cost as much as 10,000. Well talk more about apple and the entry into the dow in a few moments. A new survey finding the fed to raise rates in the second half of the year. 57 of those polled by the National Association of business economists say uncertainty over the Central Banks plan is no longer slowing the economic recovery. And in europe, its official. The ecb has begun the 66 million a month Bond Buying Program. Scotland Goldman Sachs argues that oil prices will reverse the recent gapes with wti. Likely dropping all the way down 240 a barrel in the near term. The main reason . Global crude inventories are beginning to increase again. We did see that st
Including duke mba tim cook. He was snapping many pictures with fans. All right. I didnt stay up. I didnt either. Did you. No i was gone before this. Were you . Really. I didnt want to try to watch it because i didnt want to turn it off. The schedule this is not your normal schedule. To be here with us you. I sacrificed the National Championship game to be here with you joe. You had nothing left in your pool. Your brackets. It meant zero. Exactly. I think i could win the bracket out right before i could spell it. Who did you have winning . Next year. I was just as bad. Im embarrassed. I read too many articles. Its not like you the bearcats or anything like that. I wish i had. I wish i would have taken the musketeers just for the heck of it. Instead of blowing my chance on villanova. Thats who i picked too. Why . Because i didnt want to pick kentucky because everybody picked kentucky. It was 49 chance they would win which they didnt but 80 of the people picked them. Do you know who had
Back after the tenyear hit a sixmonth high earlier in the session. We talk to pimco chief officer scott mather in just a few minutes. And treasury yields across the pond as well have had a huge gain. Also that picasso painting sold at auction last night, a record 179 million. Economist norle ra lle lle Nouriel Roubini will be here. He thinks some people use expensive art as a form of Money Laundering, unquote. Hes at it again. Hes dr. Doom of the art market. With an hour to go in the trading session, the dow is down about 18 points. Again, fall back into positive territory. An ounce of downward pressure only a little bit. The s p and nasdaq giving up 0. 2 right now. 4 points and 10 points respectively. That level for the nasdaq 4983. Lets talk about this in our Closing Bell Exchange for this tuesday. Chris ressler is with us rob morgan checks in from sethy financial and Kevin Guinness from Raymond James is with us so is ken moret. Kevin, youre head of fixed income there at Raymond Jame
Retail sales barel budged coming in unchanged in april. Many considered this report just as important in its own way as the Monthly Employment number but for now no sign of an economic bounceback and that could make the federal reserves decision on when to hike Interest Rates even more complicated. Hampton pearson reports. No signs of a springtime rebound in the economy from the latest retail sales numbers. The april downturn saw things downs. Clothing sales were up slightly along with Sporting Goods and online stores. The biggest bounce was garld material and building equipment and bars as the hibernation finally ended but still a catch 22 for the feds. Low rates are supposed to help spending but consumers didnt spend in april, when the weather was bad in february and march and havent been spending since last fall. Over the last six months weve essentially flatlined. So the Monetary Policy with the intention to drive demand has pulled forward so much Economic Activity there is only so
Retail sales barel budged coming in unchanged in april. Many considered this report just as important in its own way as the Monthly Employment number but for now no sign of an economic bounceback and that could make the federal reserves decision on when to hike Interest Rates even more complicated. Hampton pearson reports. No signs of a springtime rebound in the economy from the latest retail sales numbers. The april downturn saw things downs. Clothing sales were up slightly along with Sporting Goods and online stores. The biggest bounce was garld material and building equipment and bars as the hibernation finally ended but still a catch 22 for the feds. Low rates are supposed to help spending but consumers didnt spend in april, when the weather was bad in february and march and havent been spending since last fall. Over the last six months weve essentially flatlined. So the Monetary Policy with the intention to drive demand has pulled forward so much Economic Activity there is only so