Procter gamble, at t. I cant help but notice whats happening in the financials, as well. Well get into the down graids. But the financials, pete, kbe down more than 2 right now. Some of these regional names. Im not going to run through every name with you. But if you look at the kbe, it tells the story. Yeah. A lot of these regional names today are down more than 3 . Some as much as 5. And even the big names arent jpmorgan and some are down 1 . If you really look at the xlf, the bigcap financials, you get a nice picture of whats going on. Were still in that same range, scott. For the last month and a half or so, weve been in this range, and now we are pushing towards the lower end of that range. You look at the xlf pushing towards 23. I understand, i think the market right now, the selloff being started with when you look at some of the metals, pushed to the down side. The financials, absolutely, because they have performed extremely well, so there is profittaking. We have earnings tom
Hour developing, as well. Mexicos president just cancelling next weeks trip to washington. Michelle cabruso cabrera onset with us. We have the panelists, steve weise, josh brown, pete najarian. Michelle, you first. Maybe not that big of a surprise, considering the jousting that has been going back and forth between our two countries over the last many days and weeks. Yeah, and its been playing out mostly on twitter at this point over the last couple days. The president in mexico putting out a tweet, saying we just informed the white house this morning that were not going to attend the event that had been planned for tuesday. This comes in the wake of him putting out a Statement Last night, saying, listen, weve heard about the executive orders, were going to try to protect our citizens that are living in the United States. And by the way, im going to have a big meeting with the senate. Governors board here, and also my Foreign Ministry team. And were going to decide, were going to have
There. So much more to talk about, but i hope to check in with you over time. I hope so, too. David, appreciate your time. Bob bakish, ceo of viacom. Carl, back to you for the start of squawk alley. Good stuff, david. Thank you so much, david faber. Its 8 00 a. M. At twitter headquarters in san francisco, 11 00 a. M. On wall street, and squawk alley is live. Good thursday morning. Welcome to squawk alley. Jon fortt, sara eisen and myself at post 9. Dows up 101. Record highs for the dow, the s p and the nasdaq, as yields and retailers are climbing. Weve got this meeting between the president and key Airline Executives in washington, d. C. For that well go to phil lebeau. Hi, phil. Reporter hi, guys. I want to bring in gary kelly, ceo of Southwest Airlines. Thank you for joining us after coming out of a meeting with the president. Give us a summary of what you talked about. This meeting went on longer than you expected. It went on it was a very good meeting. We talked to the president an
Recordhighs. Goldman, nike, cat, chevron, jp, having the most impact today. President trump came out, talked about that well have a tax plan in two or three weeks. That will be good to see. And heres what you have to say about President Trump. Hes lived up to everything he has said. I think theres been a major turn in that he could have gone after the chinese, but he didnt. So he sent a letter, and so then that gives, i would say, some respect for in terms of how hes dealt with his counterparts. You think thats in part for the gain today, along with his comment hes going to get to taxes in a couple of weeks. Hes going to have something on taxes in a couple weeks. Yeah, i think were on the same show. I just said that, right . Hes going to do taxes. Lets listen to it. Were going to be announcing something i would say over the next two or three weeks that will be phenomenal in terms of tax. Yeah, so its going to be half the things you say go in one ear and out the other when it comes to m
Before we get started, we have breaknews. Lets get to Steve Liesman back at hq. Steve . From a Trump Press Conference to liesman on big numbers on debt, huge numbers. The new york fed saying Household Debt rising by 226 billion in the Fourth Quarter of 2016. That is the biggest jump in Household Debt since the Fourth Quarter of 2013. It is now at 12. 58 trillion, the biggest number since the Fourth Quarter of 08, which youll remember is right around when it started to decline with the financial crisis. What led the way . Mortgages at auto loans were behind this rise in Household Debt. But interestingly, bankruptcies and foreclosures reached an 18year low, which is the history of this particular survey. So, those rates are really well down. Youre not seeing a rise in bankruptcies and foreclosures, even while youre seeing the rise in debt. Credit cards and student loan balances were also part of the increase. Carl, we dont know if this is part of the trump phenomenon, the post confidence