Lower by 126 points, the s p lower by 14 and the nasdaq lower by 29. Yesterday, though, stocks did get a boost from last months Federal Reserve meeting. The notes are suggesting quantitative easing will likely end in october. The central bank will move slowly to raise rates after that. Today, the focus turns to the other side of the pond. Were waiting for a position decision from the bank of england. Thats going to happen around 7 00 a. M. Eastern time. Bank of england expected to leave its key rate on hold at a record low 0. 5 . As for the u. S. Economic calendar, here is what were watching. Jobless claims expected to increase by 4,000 to 319,000. Then wholesale trade is out at 10 00 a. M. Corporate news, bank of america is reportedly seeking fed approval again for a 5 cent quarterly dividend. In march, the firm revised an okay to boost its way out, but it had to withdraw the plan after discovering it miscalculated capital levels. In other news on the bank, attorney general eric holde
Record. And in corporate news, comcast is buying the rest of nbcuniversal from general election for 16. 7 billion. Its wednesday, february 13, 2013. Squawk box begins right now. Good morning, everyone, welcome to squawk box on cnbc. Im becky quick along with joe kernen and andrew ross sorkin. We are following major stories. After yesterdays close on wall street, u. S. Equity futures this morning, well, you see they are fight a little bit higher. They are fight a little bit higher. After gains yesterday, the dow up more than 45 points yesterday. Our guest host is westwood capitals len bloom. The next hour, famed investor and billionaire real estate tycoon, sam zell. Topranked money manager don yakman. His fund have seen annual returns of 10 over the last five years. Well also talk about how Business Leaders and investors are reacting to president obamas state of the Union Address. Among the topics high talked about last night, jobs and the economy. Even mentioning some companies by name
We begin with breaking news. Pope benedict xvi resigning. Age and fatigue are the reasons behind his resignation. Here is what the Statement Reads in part both strength of mind and body are necessary. Strength which in the last few months has deteriorated in me to the extent that i have had to recognize my incapacity to adequately fulfill the ministry entrusted to me. This tweet came from the popes account 23 hours ago. We must trust in the mitty power of gods mercy. We are all sinners, but his grace transforms us and makes us new. This would be historical. The last time a pope resigned happened 600 years ago. That would be pope gregory iv in 1415. The very first pope to resign was pope clement in the year 101, 1,100 years ago roughly that the first pope resigned. Many questions about whether popes in modern times think resignation is acceptable or not. Pope benedict said, in fact, made it very clear that being able to resign was acceptable and made this part of the Statement Released
Look to portugal, tenyear rocketed to 4 , was 358 friday as the european indexes there are firmly in the red. Road map begins with the sell off on the globe; jobless claims fall from a week ago, and european worries drag down equities in the u. S. Family dollar profits fall for the third time as Carl Quintanilla icahn continues to push for the sale of the company. Costco, sales flat in premarket despite same store sale numbers strong. Allergan fights back after the bid to take it over. Well hear from the ceo. Third time the charm for bank of america . Reportedly submitting another capital plan to the fed to raise its dividend. First up, though, look at the premarket once again. A number of things working against the bulls today. China exports did miss for june, 7. 2 , looked for above 10. Fed minutes yesterday show us that the tapers probably going to end in object. Portugal worries about banks. Gaza Ground Invasion looms still, and industrial output from france and italy, worst misses
Consecutive month. A Nobel Prize Winning Economist Says hes worried about the rally and investors could be taking that to heart as the dow pauses after 17 k. Buying a swiss Food Ingredients producer for 3 billion. Apple hiring away from tag heuer. And higher in the premarket once again as options on the Company Shares kick off trading today. First up, wall street hoping for more stock market history this week after the dow hit 17,000 on thursday for first time ever. As for the s p, now within 15 points of 2,000. Earlier on worldwide exchange, Nobel Prize Winning economist stiglitz doesnt believe it signifies an upbeat trend. The very strong stock market prices are in a sense a symptom of the weak economy, not a symptom that were about to have a strong recovery to our real economy. Sounding an awful lot like what the bis said last week and were vulnerable to a 10 to 12 correction and Morgan Stanley get more neutral on risk even though he was bullish at the beginning of the year. People