Inauguration late last week. Im very proud of that. Very proud of that. The Business Community and the labor community, you saw that with the labor leaders that came out. One said it was the single greatest meeting i ever had with anybody. Its the highlight of my life. The dow on top of it just hit 20, first time in history. Im very proud of that. Now we have to go up, up, up. We dont want it to stay there. Vice president mike pence tweeting the dow closes above 20,000 for the first time in history. U. S. Economy is being unleashed under President Trump. Lets get you caught up on whats going on. We have a 30 billion pharma deal. Johnson johnson buying actelion for 280 per share in cash after weeks of exclusive talks. We talked about this transaction before. A 23 premium to its Closing Price yesterday. Both companys boards have aprefapref approved that deal. Today is the busiest day of earnings season, 38 companies in the s p 500 reporting results along with three dow components. Before
It is up 3 today as a matter of fact. There we go. We begin with the Worlds Largest fund Company Turning to machines to pick stocks. Legalsly picker joins us at post nine with that story. Hey, guys. Stock pickers are out and machines in. Black rock is overhauling active management business, conceding beating the market is hard and expensive and computers can do a better job for less. The revamp affects 30 billion of black rocks five trillion dollars in assets to start. At a high level the plan involves adding more technology and data science to the art of portfolio management. That means fees will be sliced in half for customers, saving them 30 million annually. The firm says it also means that some Portfolio Managers will depart. The firm is offering new products including those under the advantage brand, which gives Retail Investors access to black rocks Quantitative Investment strategies. Keep in mind though this is still more handson than black rocks wellknown etf business. Some sa
Reform. It was about getting back to basics, investors turned their attention to upbeat reports on the economy, comments on Interest Rates from an influential member of the Federal Reserve and corporate profit t. Dow jones industrial average snapped an eightday losing streak rising 150 points, the nasdaq added 34 and the s p 500 was up nearly 17. Lets start with earnings. The end of the quarter is a few days away, already the expectations are high. Reporter the end of the First Quarter is just around the corner. The bulls are hoping a strong earnings season may provide a market stabilize tore what is likely to be a very rocky debate over tax reform and infrastructure spending. First earnings are expected to rise 10 from the same last year. That would be the best quarterly showing in six years, it might be better than that, the first 12 companies, micron, nike, oracle, theyve reported average earnings gained of about 12 . Those have also seen the best quarterly gains since the Second Qu
1 . The ten year yield is at 242. Were watching oil closely. Getting back above 50 a barrel for the first time in a while and holding above that level. This morning our road map starts today with an historic quarter. Futuring pointing to the lower futures pointing to the lower open as we said but stocks are setting records for q1. Plus, President Trump to sign new orders aimed at combating Foreign Trade abuses today. This as the white house prepares for a meeting with the president of china next week. And after lululemon shares plummet, hear what the ceo told jim about turning around the companys sales. The first three months of the year belong to the bulls. As we head into the final trading session of the quarter the s p 500 is up almost 500 on pace for the sixth consecutive positive quarter. The same for the dow. The big winner is the nasdaq up nearly 9. 9 after closing at a record high yesterday. Jim, the dow is set for its longest quarterly winning streak in ten years. Yeah, look,
The investors are watching for signs of trump progress. And apple is up 24 in the first three months of the year. The best gain that stock has had in five years. And musk for the win. Tesla delivered a record 25,000 cars. Were others able to keep the pace . First up, despite the dow and s p snapping four month win streaks in march investors have reason to smile. Dow and s p each extending the quarterly winning streaks to six while the nasdaq outperforms both in q1 with a 9. 8 gain. April, jim, is seasonally strong. Havent had all three down since 05 in the month. Well get earnings. I think the industrials which have kind of plateaued, the banks, are going to be up first. For the most part if you get the dollar to stay weaker, you hear about International Orders i dont know if anyone saw that european pmi, but europe is strong. They could lead a lot of the industrials. Asia better. But i think that were going to start off coming in hot for earnings season. I think we a lot of companies