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
Europe is pretty weak. Ten year yield 223, now the lowest since mid november and gold came close to 1290. Our road map begins with a eye on the financials. Jpmorgan, wells and citi all reporting better earnings than expected. Plus, the new centrist president and about face from President Trump on several key Economic Policy positions. And apples big health bet. Sources tell cnbc that the company has a secret Group Developing a new glucose monitor to treat diabetes. But first up, earnings season is here with a bang. Jpmorgan and wells fargo and citi group out this morning. Citi earnings and revenue came in well above the estimates. Mortgages though remain a trouble spot. Pretty good in trading. Equity yeah. Very quickly, jpmorgan is pretty much what im going to say pretty much perfect. But the stock was up very big. People are looking at the futures versus the stocks and just hit them down. That is three basis points better. I love the delinquencies here. Theyre, very very good and comm
The rate story that has wall street talking this hour. Pete, slower loan growth across the board for the banks. As the tenyear continues to come down, the banks were almost all negative. Youve had a little reversal but the market cant do anything. And everybody is looking at the 10year and obviously for a last while weve had this thing correlated. I think the impressive part is theres actually still even growth. Because of the fact weve seen some of these numbers moving where they were, yesterday i said on the show i wouldnt even be i think theyre going to have something to balance it out. Well, they did. The Trading Volumes and what they have done with trading is absolutely spectacular. You took and its really, really impressive. At citi its up 19 . Jpmorgan is up 17 year over year. So there is that balancing act but loan growth is what everybody was focused on. And yet the banks today are flat as a group. I think the biggest story in the market is rates. As the 10year goes down to 2.
Power lunch starts right now. And welcome to power lunch, im michelle carusocabrera. Stocks are in the red this hour, giving up modest gains they had earlier. The three major averages are posting losses for the shortened trading week. Thats right, no trading tomorrow. That would mean a second straight weekly drop the third out of the last four weeks. The big sectors in focus, the financials. Jpmorgan, citi, all beating estimates. Mixed results for wells fargo. Thank you. Im tyler mathisen. Heres what else is happening at this hour on a very busy news day. Seems like there havent been any yet lately. Yext the latest tech company to go public. They soared 30 on the first day of trading. Uber had a secret operation to track lyft drivers according to the information the ride sharing Giants Program called hell spoofed lyft accounts and tracked drivers. And samsung says preorders for its new galaxy s8 are better than the previous s7 which had to be recalled because of exploding batteries. We
Announcer this is nightly Business Report with tyler math stocks slide. More geopolitical concerns erupt, and the dow turns in its second worst week of the year. Active versus passive. The debate rages on. And theres new fuel to add to the fire. And how to turn life lessons into success on and off the fields. New England Patriots coach Bill Belichick shares his wisdom. Those stories and more on tonights nightly Business Report. Good evening, everyone, im Contessa Brewer in for sue herera. Welcome, everybody, im tyler mathisen. It was a short week but a tough one for stocks. Second worst week of the year, second weekly slide in a row. The declines were mild early in the session but steepened midday, as the mother of all bombs, the countrys largest nonnuclear explosive, was dropped on a suspected isis tunnel complex in afghanistan. The dow and s p closed at the lowest levels in two months. The dow index lost 138 points. Nasdaq was down 31 points. S p 500 fell nearly 16. For the week, the