Bigger bonuses at his office. But there is a catch. Well tell you what it is. Its a great story. A new battle between apple and google and this time google is beating on the latest back to school shipments and the impact its having on the tech giants and their laptop offerings. First lets have reaction to the feds minutes that were released about an hour ago. There, weve done it. No, lets have bob posani tell us about it. Hes tracking the movement on the floor. Not much different, right . The headlines look pretty normal, the case for rate hike as strengthened. That was the headline. The fed risked credibility by not acting, she said that before, so it all sounds fairly hawkish but the market did not react much, even though most people, 70 or so of traders believe the odds of a rate hike are 70 going into december. Mr. Dudley said i think we can be quite gentle as we go in terms of gradually removing Monetary Policy accommodation. In other words, the glide path is going to be very shal
Whether it could lead to the next blockbuster drug for amgen coming up. First, though, lets get to the latest fed speak and retail earnings with steve leaseman. Courtney reagan is monitoring that walmart earnings blowout. Steve, kick things off for us here. President bill dudley in a press conference earlier today following up on those sprys minutes yesterday suggesting a rate hike is possible and even likely in june or july if the economy cooperates as expected. Now, day after the minutes dudley said pretty much the same thing. He suggested that his base case is for a kind of for improvement that would warrant a hike. If im convinced that my forecast, my own forecast, is sort of untrack then i think a tightening in the summer, the june july time frame is a reasonable expectation so its a question of whether the economy is sort of cooperating and performing in line with my personal expectations. He did say the british referendum on brexit is something the fed is watching. Thats eight d
The dow and s p essentially erased about 80 of the losses incured after the brexit vote of last thursday when the uk voted to leave the eu and bank of England Governor Mark carney hinted that more stimulus is coming. Listen. In my view, and im not prejudging the views of other independent members of the mpc, the Economic Outlook deteriorated and some Monetary Policy easing will likely be required over the summer. What selloff . A little quantitative cant take care of. Just wipe it all away with easy money. Hershey rejecting the 23 bid and hershey shares are still higher. The market seems to think mondelez comes back with another offer. Trading above where it was before they rejected the offer. Netflix known for keeping the ratings under wraps and nielsen says it has numbers for some of the streaming services most popular shows, including season premier of orange is the new black. Those details coming up. Hef hertz signed new deals with uber and lyft. The stock is down more than 20 this
His ideas into the democratic platform, but what impact will that have on the economy . Former white house economic adviser laura tyson who served under bill clinton will join us coming up. And one thing both the republicans and democrats seem to agree on this election is breaking up the big banks and bringing back that gla glass steagall law. We have somebody who says glass steagall is not to blame for the financial crisis. Lets start with apples big reveal on earnings coming up in about an hour, hour and a half. Josh lipton is joining us now. What is the street looking for, josh . Bill, lets just start with estimates for the bottom and the top. So analysts are going to be looking for eps of 1. 38 on revenue of 42. 1 billion. Now, that would represent drops of 25 and 15 respectively. Analysts think apple sold 40 million iphones in the quarter. That would be a decline of 17 as that company deals with just tough comps and fans, of course, waiting for that new iphone 7. Beyond those basi
10 of wells fargo, that is major money were talking about right there. And the fbi hacking into the iphone of one of the San Bernardino phones without apples help. Its the outcome and is it a bigger black eye for apple or the government . Well have both sides of the debate. Who loses the most in the outcome of this whole situation, apple versus the fbi . The Broader Market is getting a nice boost after janet yellen said caution is warranted. Gold rallying under comments dollar went low are and yields went lower. Financials, which of course would typically benefit, they are under pressure today. The worst performing sector in the s p. Lets get to Steve Liesman with details. Youve got to be asking yourself after this speech by janet yellen has the fed quietly retreated from raising rates, what it dubbed rate normalization, will it ever hike again . From gold to fixed income to stocks, laid out a dovish outlook for rates at this much anticipated speech at the Economic Club in new york and