A new holiday began in 2014. Part of the move to force people to take vacation days. They dont like to do it over there so they keep making more and more national holidays. This is about encouraging people toll of appreciate japan hes mountains. Shanghai was down half a percentage point. In europe and some of the early trading there, youll see most of the markets are in the green. The dax is up half a percentage point. The cac in france is up. 70 . The ftse down just. 30 . Crude oil prices as scott mentioned, look, its a pretty big deal. Iea warning its going to take a while to work it off. Wall street journal says saudi arabia hit output. Wti down this morning. Scott. On the agenda today. Kohls and macys reporting before the opening bell. Join in the 8 00 hour. Then after the bell, nordstroms releasing results on the data front. Weekly jobless claims are out. 8 30 eastern time. And export prices for the month of july. Among the stocks were watching today. U. S. Prosecutors have opened
Im sara eisen. Good morning from me as well. A big day ahead on cnbc as we bring you a front row seat to the sixth annual delivering alpha conference. Bringing together the most important players in Asset Management and tackle the Critical Issues facing investors in todays economy. Among the headliners treasury secretary jack lew kicking things off. His predecessor tim quite quite speaking, paul singer, steve are schwartzman karl icahn. Another tripledigit move here in the premarket. We saw this kind of move yesterday completely reverse course and the dow closing up more than 200 points. Dow futures under pressure again, minus 112 there. S p futures are down 14 half points. Nasdaq futures are down about 30 points as well. Again this after yesterdays reversal that clawed back more than half from fridays big selloff. Amazing turn around. Yesterday we were looking at similar futures declines. By the end of the day two sectors were up less than 1 , energy and materials. A massive rally tha
Largest cash bid on record. We have both ceos joining us live in just a few moments. Our road map, return of volatility. What investors like carl icahn said how to navigate this market at yesterdays delivering alpha. Wells fargos ceo telling jim cramer he will not resign over abuse of account activations. Apples new operating system out and update getting mixed reviews. Also, tim cook out defending the new iphone 7. The stock saw a nice boost yesterday despite some big losses in most of the market. What will today bring . But first up, futures moving higher after three straight sessions of triple digit swings amid some falling oil prices, concerns about a potential fed rate hike despite tuesdays selloff apple was in fact the bright spot up 2. 4 for the best day since july. But then late yesterday at delivering alpha carl icahn offered that blunt assessment of this market environment. I think there are tremendous risks. But i think anyone thats going to tell you its going to go down tom
In the meantime lets get you caught up where we stand. Yesterday the markets had a rebound. The dow was up by over to 230. Volatility is back at least for a few days. Dow is down by almost triple digits decline of 96 points below fair value. Nasdaq down by 24 and s p down by over 30. Overnight in asia the nikkei stabilizeed a bit after the big losses it posted the day before catching up with what we had seen on friday. Right now you see nikkei closed up by 56 points. Shanghai composite was flat. In the early trade in the european be markets youll also see that the dax is higher up by by. 4 . Were also watching oil prices today. The International Energy Agency Cutting its forecast for global oil demand, the iea is citie ii wobbling asian demand and its taking prices down. Wti down by 2. 5 . Decline of over 1 to 45. 17. Some other headlines. Goldman sachs now cutting the odds of fed rate hike next week to 25 from 40 porjsly. The firms call came after fed governor brainard caused against
Few hours ago. Plus bill miller at delivering alpha talking about his best investment ideas. He will join our show live for more ideas and will bring you highlights of interviews with others. Live from delivering alpha in new york city. Lets start with the price of oil reversing gains. Jackie deangeles has details. Good afternoon. 3 sell off today and closing at 44. 90. Three significant factors impacting oil prices. The first would be the monthly report taking demand forecasts down not just for this year but next year, as well. The wall street thesis for this rebound that is supposed to happen depends on demand staying at least flat or ticking up. So thats not really a good sign. The equity plunged today and also a little bit of strength in the dollar not good signs for crude oil. Inventories tomorrow. Remember last week we saw a draw down of 14 million barrels. Some are looking for a pretty substantial build. Those are the ones who think last weeks action was a one off event. The bui