Being considered for secretary of state. Cost and controversy. Donald trump takes aim at another Defense Company. This time its Lockheed Martin. Those stories and much more tonight on nightly Business Report. Its monday, december 12th. Good evening, everybody. Im Bill Griffith in for Tyler Mathisen tonight. And welcome. Thank you. Im sue herera. Another record close for the dow jones average today. We are going to begin tonight with the widening of opecs production deal. Another 11 countries pledge to cut supply. It is the first global pact in 15 years to jointly scale back on output. And saudi arabia, the largest exporter of that commodity, says it could reduce supply even further. The decision in effect ends the in fighting that prevented a Production Cut and exacerbated the global oversupply of crude. Today domestic crude hit levels not seen in about a yearandahalf, rising more than 2. 5 , extending a rulely that pushed prices up by more than 45 over the past year. And the rise in o
Being considered for secretary of state. Cost and controversy. Donald trump takes aim at another Defense Company. This time its Lockheed Martin. Those stories and much more tonight on nightly Business Report. Its monday, december 12th. Good evening, everybody. Im Bill Griffith in for Tyler Mathisen tonight. And welcome. Thank you. Im sue herera. Another record close for the dow jones average today. We are going to begin tonight with the widening of opecs production deal. Another 11 countries pledge to cut supply. It is the first global pact in 15 years to jointly scale back on output. And saudi arabia, the largest exporter of that commodity, says it could reduce supply even further. The decision in effect ends the in fighting that prevented a Production Cut and exacerbated the global oversupply of crude. Today domestic crude hit levels not seen in about a yearandahalf, rising more than 2. 5 , extending a rulely that pushed prices up by more than 45 over the past year. And the rise in o
Tenyear yield coming off the 26 level on thursday. We begin the dance to 20k. Will today be the day . Milan introducing a new epipen. The inside scoop on this weeks meeting between donald trump and tech. First up, the dow moving towards 20k. Something weve not done since february and march of this year. Faith rally. A lot of people are just looking at the tripod, looking at tregulation and repatriation and saying, we can can ignore current whatever is the current tempo and, instead, just extrapolate the things to get better next year. Of course, there will come a moment where they better get better or else well say, why did we get so excited . Theres a lot of ripples to the Corporate Tax. Saying, listen, this is not one size fits all. Retail could be hurt by it. Its more complicated. Its been so far. At the same time, i will admit that things are better. Theres a lot of people discovering that. There was some joisting to the Washington Post who finally manages to put on page one that i
Good friday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt. Kayla has the morning off. Dow up 57 points. Obviously the markets are our top story. Well continue to watch the race to 20,000 in the wake of the feds first rate hike as you know, of 2016. A lot going on. Donald trumps victory since that time five weeks, looking at 8 on the dow, the best postelection rally on record. Jonathan gow want is managing director. Guy, happy friday to you both. Good to see you. Good to see you as well. Tobias, people taking stock of the rally but paying attention to Dollar Strength. The lack of real policy specifics as of now. Obviously memories of how bad last january was. When do we know when this rally is over . We think its a bit overdone near term at the moment. Interstock correlation, top 15 names in the s p 500, is around 10 . Thats one of the lowest levels weve seen in a number of years. Historically when weve gotten this, the market seems to get a bit tired and we start
Is more hope than entrance. What should people be thinking about . The way that the market is trading. I have a couple of thoughts that ill get to really quickly. I asked the producers to make this chart for me. I wanted to show you rsi on the industrial average because its at the highest its at the highest levels that weve seen really going back 20 years. Now if the for the dow at these levels. We saw it in 2003. Frequently that it will be at the beginning of a leg higher even though it does mean a shortterm pullback. I think people need to not lose their head when this thing goes off. I mention at the top this notion of this rotation thats going on. You know, hour by hour in some instances. Day by day. Out of sectors into others. Some stocks that are up, you know, a couple of hours later. They are down. Money starts to move elsewhere. Jim cramer said the following this morning. I want to go through it. He said im quoting. By the way, the rollover in tech is incredible. The rotations