Last three years. An intriguing session in shanghai. The composite staging a huge comeback after a volatile trading session. Hong kong shares in the red. We have Ralph Acampora. European banks taking a hit as the future of greece and the euro zone hangs in the balance and well look at the true cost of a greek bailout. Meanwhile, gopro unveiled its smallest camera ever. The stock is not getting a lift on that news. Well hear what Ceo Nick Woodman has to say. You can carry all these things around. You put your phone up here too . No i dont. Crude oil in a tailspin. Jackie deangelis live at the nymex. Good afternoon. We saw oil shed 4. 40 to finish the session at 52. 53 selling pressure intensifying as we got towards the close. You mentioned demand. The situation in greece pushing us over the edge. Here in the United States gasoline demands falls off after the fourth of july weekend. You have the perfect storm to go lower today. We are also watching Nuclear Talks with iran. We know from s
Dow down 37 points and the s p nudging back up towards the flat line at 2066 and change and nasdaq in Percentage Points the big lieutenantser, down twothirds of a point. Seven of the sectors are low for the year including staples, i. T. , financial, industrials, utilities and energy rounding out the bottom of the pack. Both down more than 9 year to date. Oil getting hit hard again today before staging a bit of a comeback. There you see its got modest losses right now. West texas intermediate at 51. 97. Ice brent crude at 56. 43, down 11 cents or about a fifth of 1 . And then ty yield falling enough that were starting to hear about lower mortgage rates. The tenyear right now earning 2. 221 . Euro Group Leaders meantime emergeing from a crucial summit on greece about one hour ago. The result nothing, according to reuters. Another meeting set for tomorrow. The eurozone summit is under way now. Yields meantime skyrocketing on the greek twoyear bond at 49. 5 . The etf that tracks greece all
Of its creditors, including the imf and the European Central bank did greece got a alone last week after parliament agreed on new austerity measures. In the meantime, great thanks reopened for the first time in three weeks,. There are still limits on withdrawals overseas. Merkel is suggesting that greece cant get limited debt relief. She ruled out a haircut on greek debt. A classic haircut of Debt Forgiveness of 30 cannot happen in the currency union. It may happen outside, but not within. Erik they may consider lower Interest Rates on greek debt but extending the time for repayment. The United Nations Security Council is expected to endorse the Iran Nuclear Deal today. It is to stop iran from Building Nuclear weapons and the United States and other world powers will gradually lift economic sanctions. Ashton carter travel to israel to reassure officials there about the iran deal. Carter acknowledged he will probably not be able to change anybodys mind. Obviously, we believe that the nu
A new plan to revamp them expected to be announced this week by president ial candidate Hillary Clinton. Cnbc chief washington correspondent john harwood is in d. C. Now with details. Reporter mandy, Hillary Clintons beginning to lay out all of the components of her Economic Program to try to relink middle class incomes with the profits of Corporate America. Last week she talked about a plan to link employee tax policy or employer tax policy toward Profit Sharing with employers. Now shes trying to encourage longterm investment. I just want to go back to the history of Capital Gains rates to illustrate what shes the system that shes trying to tweak. Back in 1986 when Ronald Reagan was president , we had a tax reform plan. The Capital Gains and top marginal income tax rates were the same 28 . Then when you move to the bill clinton balanced budget deal in 1997 you had the top income tax rate up to 39. 6 . The top Capital Gains rate had gone down. So they brought back the separation betwee
The year where were overloaded with earnings information, most companies in the s p report this week. Remember that the professionals listen to every Conference Call check every model and do deep dives in each quarter which means that unless they get up at 4 00 a. M. And work until 11 00 p. M. They simply dont know about what should be bought and what shouldnt be, and i have to tell you, thats why a lot of mistakes are made. Thats why i tell you at home to stop, look and listen during these periods. As we try to run the gauntlet created by the cacophony of earnings season. Whats exactly in store for us for the rest of this week. Tomorrows all about apple and ten days ago the company made a major push into china and the worry is the sizeable chunk of buyers may have been margined out of this stock positions in the great crash of china and they migrate to the expense of iphone 6. Not this quarter, since it didnt include the chinese debacle and thats why it is so important not to trade of