If you check out crude oil, which is probably the biggest market story weve been watching for a week or so crude Oil Yesterday was up slightly to 42. 74. This morning up to 42. 84 youre still talking about wti below 43 a barrel. Americas 34 largest banks did well in the stress test. The results show even during a large recession large banks would be well capitalized and could support homes and businesses when times are tough. The second part of the stress test will be released next wednesday. There are talks about whether things might have loosened up a bit with the fed. Doug parker says he is not happy with Qatar Airlines plan to buy a 10 stake in the company. Parker telling phil lebeau he found out about it yesterday parker telling cnbcs phil lebeau he found yesterdays offer confusing, adding why an airline were aggressively fighting would want to take a stake makes no sense he wonders if the motivations were misguided and ill conceived. They have been fighting over policy in washing
The nikkei up a half percent hang seng up 1 111. 2 . In europe, big effort gains in spain. Crude, the one big driver for crude the past couple of days would be harvey. Now a category 2 storm were seeing wti crude up by 0. 7 brent up by 0. 7 welcome back. Thank you great to be back when did you get back last night. Last night. 8 00. All right do you feel different . Do you why would you ask that, joe. Im wondering feels g right . Enjoyed it. Congrats. Everybody knows by now now they do if they dont, theyre about to. Misses melissa lee. Is there a new name. Im still me. Congrats. Good to have you here. Thats dedication, 8 00 last night anything anything to help you out, joe i will do. And the viewers heres the big stories were watching today that was maybe the biggest in corporate news, uber could hold a vote for its next ceo as early as today uber is holding a Board Meeting later total. According to sources hpe c eshs Ceo Meg Whitman will not be there, but former ge Ceo Jeff Immelt will
It may be a small street but Billionaires Row. Where is it . You have to stick around to find out as power lunch starts right now. Welcome to power lunch. Im tyler mathisen. As brian said another big rally on wall street, the nasdaq topping 6,000 as you see right there. The first time in his are try. What got it there. Well give you the 13 names in the nasdaq hitting new record highs facebook, alphabet, microsoft among them. And another triple digit rally for the dow. If it holds this would be the first backtoback 200point day, days, i should say, gains for the dow since the election. Another notable stat the were only two days into this week but the current weekly gains for the dow and the s p 500 are the best to make them the best of 2017 if they hold. Almost 17 names hitting new 52week highs, best buy, expedia, lowes, home depot. Were all over this big bull run. And Bertha Coombs at the nasdaq. First, though, to bob pisani on the nyse floor. Reporter this is unusual trading, tyler,
He has a Foreign Policy speech, can he stay on message . If he does, could he gain ground on hillary who has some potential liabilities ahead. Congress about to get its hands on her fbi testimony. The dnc hack could reveal some damaging information, and her husband, the former president , is he a liability on the trail . Well, to the markets, green arrows, what else, to start the week. The dow, s p and nasdaq all in record territory. Big day for your money and we are all over it. Of course, Varney Company about to begin. Trying to insight chaos, threatening institutions we have, police are a government institution. We stand on the front lines of order and liberty. They want to attack order and liberty and after the chaos last night trying to incite chaos. That was Milwaukee County sheriff david clark talking about the two nights of violence in the city of milwaukee. He will be joining us again next hour, but emack, what exactly happened to trigger all of this liz so Sylville Smith had
Definitely being strained. The latest is super value. That grocer cut its profit outlook for the year in large part because of food price deflation but also because of increased competition. And that sent shares of super value down 9. 5 in trading today. Its not just super value. Yesterday we reported that Sprouts Farmers Market cut its guidance because of significant ongoing deflation. Californiabased smart and final stores cut its outlook in july for the same reason, and Dollar General also mentioned deflation as a threat on its Earnings Call last month. Tomorrow kroger, the countrys largest supermarket chain, and a barometer for the industry reports earnings, and many are expecting to hear much of the same. Susan lee takes a look at the expiring fortunes of the grocery industry. Carton of eggs, 40 cheaper, whole milk that costs 11 left, beef, pork and chicken at a discount from 2015. Fruit prices have been falling for nine straight months, according to the bureau of labor statistics