Good wednesday morning, welcome to squawk alley. Im carl quintanilla, obviously a big day for earnings were watching the hill, the ftc and facebook is the big news a News Conference on that 5 billion fine over data privacy issues is going to start in awe if moments. Were going to take you to washington when that begins, but the swirl of agencies circling the company, ftc, who knows what the doj has in mind and well get a clearer picture of what the quarter looks like tonight. I dont know why it feels like something shocking is happening. Weve known this fine is coming for a long time, a big fine, but somehow to see 5 billion written down then more interesting to me, the restrictions and the oversight, the committee within facebook that looks like maybe its been structured in a way where Mark Zuckerberg doesnt have total control over this piece, you know, the ftc making the case that Mark Zuckerberg has to certify this privacy compliance every quarter, and this time if he slips up, ther
Markets. Up and down. But right now if you look at what weve seen happen over the last month it has been impressive somebody this week was talking about 1938 in a different context. I cant remember what it was not political context in a fed or some type of economic context yeah. Yeah. So thats quite awhile may wasnt so great. May was terrible. That set you up for june all three major indices are having their best month since january of this year triple digit gains as we head into the g20 meeting this weekend with so many people watching what will happen between china and the United States look at what happened overnight in the asian markets you will see the nikkei was down by 0. 3 . Same thing with the hang seng. Shanghai was weaker. Down by 0. 6 then this morning in europe, where there is some active trading taking place right now, green arrows across the board at this moment. Biggest gainer is the dax, which is up by 0. 4 . Everybody is up by 0. 2 or more. Look at treasury yields thi
Vice President Joe Biden and othe others, arguing they are moving further to the left. Is there truth in what trump is saying . Im Kristina Partsinevelos. Joining me from the panel today, jonathan hoenig, john burnett, Gary Kaltbaum and zachary carabell. Do you think the president s right or is this really just about Political Polarization . Well, the whole country has moved to the left. The democrats have moved explicitly to the left. Many of them embrace socialism now, they embrace it in their words and even their policies, whether it be wealth redistribution, government control, governmentrun health care system. These are socialist ideas. I know you are probably saying its democratic socialism or its a different type of socialism. The main fundamental is there, that your life is not your own. You are a sacrifice to the greater good. Thats just the antithesis of the american idea, individualism, your right, your liberty. The democrats are not on board with those basic ideas. We are g
Conagra, just like General Mills yesterday, down 8. 6 for one of the worst performances today. Down today. That is being acquired. Coming up later this hour, i will speak to atlantic investment president and cio. We will have the value versus growth rotation discussion. Guy absolutely. Looking forward to that one. European stocks just in positive territory. They sold off midmorning and have been climbing back ever since. The pound has spent most of the day positive, but has since sold off. Boris johnson was saying it was a million to one shot that we get a hard brexit. We continue to see a bid on the bow and. We are not quite at record lows or record highs on prices, but we are awfully close. Vonnie i will tell you where we are awfully close, and that is in tokyo. G20 leaders meeting this weekend with investors watching for the outcomes of bilateral discussions on the sidelines of the event, in particular between President Trump and president xi , which takes place saturday morning. We
Discovered new Software Issues and financials outperforming ahead of the stress test results. Joining for the hour to break this down is josh brown. I asked you what the key stock indicative of this market is and what people are watching you said gld that was surprising. I thought that was a private conversation, sarah nothing is private with me. I said gld because it trades like a stock and the dollar doesnt but what im really getting at i really feel the dollar is at a very critical level and i mentioned it was kind of sitting on support i think what the dollar does next from here could have big ramifications for everything from earnings estimates to emerging market stocks. It keeps weakening here. It hasnt broken down since trump has been president its been fairly strong. Some would say too strong. I know he would. For sure. You asked me what are people looking at and focused on, believe it or not its the dollar again gold is huge fiveyear breakout and breaking of the down trend is