Carl quintanilla with jim cramer a solid open as we watch more good Bank Earnings and consumer inflation that is a touch cool 10year core cpi runs 1. 7 year on year. Wells fargo with earnings, does it point to a strong season of corporate results . Tech policy head winds, the fang stocks are set to open higher. Amazon and alphabet above the 1,000 mark and 21st century fox down in the premarket following the drag from comcast and direct v owner at t bank of america better than expected as improved lending activity and higher rates offset weaker trading revenue and wells beats on the bottom line but revenues miss and that stock is lower as we watch efficiency ratios. Wfc, wells does a pretty good job of not talking about the issues that beset wells fargo. I will say in their defense, there was not a decline in average deposits, up 4 . People are not fleeing wells fargo. Bank of america has become the bank that i always thought it would be, the consistent bank where you can put a price to
We have a lot of Mental Health problems in our country as do other countries. But this isnt a guns situation. Want to search this morning for motive in the here is to stop his rampage coming up. Maria President Trump and in the banquet pushing so a bright now. The latest to discuss today trade in dealing with the rising threat from north korea. Tax reform taken center stage this week that republicans pushing forward to get it deal done by the end of the year. Progress coming up as the committees right now are zeroing in on the tax plan. The battle for saudi aramco. President trump has urged saudi leaders to church the New York Stock Exchange for what would be the largest ipo in the world that the future remains uncertain. The latest air an anticurrent john. Is sending shockwaves throughout the Business World. Details are several prominent members of the royal family, including all of the bands who all are taken into custody. The richest men youve ever seen taken into custody. It is to
Once again, good morning and welcome to squawk alley. Joining me at post nine, sara eisen, mike santoli, carl keent nia has tkne quintanilla has the morning off. A big interview for us from omaha, bullish comments on apple from Warren Buffett. Becky quick is live there, berkshires temporary headquarters for the weekend in omaha, nebraska, with details, especially on ibm. Thank you very much. We talked to Warren Buffett about ibm, apple, a lot of different issues but lets start with ibm. Warren buffett says the case for ibm doesnt make quite as much sense to him as it used to. He told us last night that he went ahead and sold about onethird of the position he held in big blue over the first and second quarters. Thats pretty shocking because Berkshire Hathaway was the largest shareholder and shares of ibm that controlled about 9 of the shares outstanding. Buffett told us they went from 81 million shares down by 25 million. They still hold more than 50 million shares, which means there is
Lets look at u. S. Equity futures. Yesterday the markets were weaker this morning things are mixed. Dow futures up by close to 12 points s p down by 2 points nasdaq down by about 15. In asia, the nikkei was down almost a percentage point. Same thing for the hang seng the shanghai was up by a percentage point the cac is down by 1 now. Ftse is down by a third of a percent. The dax is off by 0. 6 the tenyear note, the yield yesterday settled at 2. 15 this morning the yield is below that 2. 146 breaking overnight, saudi arabias king ousting his nephew, the ksitting crown prine and putting his son, Mohammed Bin Salman the former crown prince was in charge of saudi arabias services footage showed an amicable change in succession the saudi all shares is up sharply today on the news. A check of crude prices, this is seen as a potential wildcard when it comes to crude with the change in power. Were seeing it holding on to modest losses here this after a big loss in yesterdays session. This happ
America and thats widely considered to be the main driver of julys gains which were the best since february. Today the market was mixed. The Dow Jones Industrial average advanced 60 points to 21,895. Nasdaq fell 26. The s p 500 was off just slightly. For the month, all the major indexes were up. The nasdaq was the big winner. Bob pisani takes a look at what worked for investors and what didnt in july. Reporter was a good month overall. S p up about 2 . Up nearly 11 for the year. Techs been the leader and it was again in july. The demand for semiconductors to power cell phones and appliances keeps going up. Oil had a big rally going from 44 to nearly 50, but didnt help a lot of oil stocks. Exxonmobil hit a 52 week low on friday. Banks were mostly down for the knot. They benefit when Interest Rates are higher and traders have been surprised rates have not been rising despite the improving economy. Inflation, for example, remains below the Federal Reserves target levels. One major issue,