Between President Donald Trump and the president of mexico. We are waiting to hear how that conversation went. Amazingly despite questions about what will happen with the trade agreements and whether or not there will be a border tax the markets are pretty quiet digesting the news and staying close to record highs. We are noticing mexican stocks. Actually doing fairly well. Would you say that it is a positive sign that at least the two sides are speaking behind the scenes . I think that absolutely is a good sign. We are going to have peter navaro. He said the vix isnt looking like anybody is worried. The markets are signaling that perhaps they are less worried about the talk. As you pointed out before and we certainly thought about often over the past year the lesson has been when things happen our Immediate Reaction is bad things are going to happen or whatever. It turns out that the market sometimes has gone against what the, quote, smart money would say and here may be yet another e
T overnight in asia, it was a mixed session. Japan was lower, maybe due to strength in the yen it was off by 1 . The hang seng higher by 1 . South korea was higher as well. Europe positive as well, but not by much. Look at crude oil, wti, i just saw 52 53. 71. Higher by a half percent. Brent at 56. 65, nat dgas above bucks. Here. Heres whats going on this morning. Gold prices jumped more than 1. 5 during yesterdays session, bringing the yeartodate gain above 10 . Look at this hour right now. Well show you whats going on. You know, its up. It continues to rise. Looks like its close to a oneyear high. Continues to speak to whats happening. Thats also on the concerns of tenyear treasury, moving back below 2. 30. Gold tends to perform well in a deflationary environment. Which most investors dont understand. I dont understand that, but its supposed to be an inflation hedge. Its the reserve currency in a deflating world. I think the big story is oil. Oil saved the s p over the last couple of
The murdoch house didvided abou what to do over bill oreilly. The latest developments on this one. Power launches right now. Welcome to power lunch. Im michelle carusocabrera. As we speak secretary of state Rex Tillerson meeting with Vladimir Putin about what to do with syria. Falling below 50 day moving averages. Check out the regional banks. They are down by 20 on average. Im melissa lee. Here is what else cutting 100 jobs. Ecommerce strategy, samsung delaying the launch of apple siri. And new data showing u. S. Crude Oil Inventories are, in fact, falling. A lot going on. President trump meeting with the secretarygeneral of nato as diplomatic tensions rise with russia. Kayla tausche is live at the white house. Hi, melissa. Those two leaders will be meeting in person. They shared a phone call during which the white house said the president expressed his support. National Security Officials say that that will be expressed again today. Here are some of the other issues expected to come
Points, nasdaq declined. 52 . For staters, lets stipulate that anything can change beginning tomorrow, when we have the official kickoff for earnings season as citi group and jpmorgan report their earnings. You have to understand that we have had many bullish moves over the market in the last 36 years, but every big move, every move that had really any impact, always had the bank as one of the major leadership groups, the banks are really the reason that the trump trade had such power. Jpmorgan stock rocketed from 67 at the time of the election, up to 73. These are huge almost unprecedented moves and they have been rolled back rather substantially in the last month. The first part of the bank rally was pretty easy to figure out. Going into the election season, pretty much everybody thought Hillary Clinton would in. She wasnt what anyone would call a pro banking candidate. So i think the defeat of the democrats in november, was responsible for at least half the movement back. Add presid
Sliding along with the u. S. Dollar. The u. S. Dollar is at a fivemonth low because of the interview President Trump gave setting the dollar is getting too strong, and i like low Interest Rates. Well talk much more about this. The dollar is stronger now against the euro. 1. 06 against the euro. Weaker against the yen. 108 yen for the dollar. On todays mick ageeconomic, look for reports on weekly jobless claims Producer Prices and consumer sentiment. Markets are closed tomorrow for good friday. But its not a federal holiday. So the government will release data on retail sales, Consumer Prices and business inventories. Ill roll up to my office in my house, report the news on my video camera. The banks will officially kick off earnings season this morning with results from jpmorgan, citi group, wells fargo, and pnc financial. Wi Berkshire Hathaway is selling 9 million shares from its stake in wells fargo. Berkshire says the sale is not tied to the banks sales scandal. It is selling the sh