Increasingly difficult to become rich if you werent born that way and, love it or hate it, i believe the stock market is the best ladder we have in this country for social mobility. There are million upon millions of people in this country but there simply arent that many jobs that pay you a salary fat enough to actually make you rich. Even if youre a total cheapskate and save nearly every single penny you earn. If you want to become really wealthy in this country. Unless youre born with a spoon in your mouth, that means planning your Financial Strategy for an entire lifetime. Even if you dont have a super highpaying job, as long as you can save a decent chunk of your paycheck and invest it wisely year after year, you can make your wealth grow to the point where you become if not filthy rich at least financially independent, meaning you dont need to worry about your job security or where your next paycheck is going to come from and youll be able to retire easily without the need to rel
Moment of truth. Earnings season is underway and ek peckations have come down. Are expeck tags too low and they feel the next leg of this rally. For earnings i think they are too low. Earnings per share. Thats what obviously is market is based on. But what i think is probably too high is the expectations for revenue. I think it comes county this this once again. Earnings growth is what it is. It can be manufactured, engineered, but you cant make up Revenue Growth. That divide between eps and Revenue Growth continues to widen out. Market has not cared about it nor should it given where rates are, which has been tims argument. But at some point, you need commensurate Revenue Growth. What have companies have guided conservatively and no one cares about quarter. So, is this the time when the market gives ceos and maybe its time to kitchen sink it a lilt bit or to weigh on being more conservative in the shortterm, but we see some things changing in our Business Model. I dont know. The quest
In a german newspaper interview. Durables just ahead of estimates and still looking for definitive headlines out of opec. Inventories at 10 30. Yellen back on the hill answering lawmakers questions about the banks, what shes expected to say about the troubled sector. And speaking of banks, wells fargo ceo john stumpf is forfeiting 41 million ahead of his next appearance on capitol hill tomorrow. And what should you expect as an investor . Shares of nike falling in the premarket on yesterdays earnings numbers. Whats dragging that dow component down . But first, a lot of news involving the banks today. Wells fargos john stumpf to forfeit 41 million in equity awards while the companys board investigates the banks sales practices. Deutsches john crion saying the bank did not need increase or capital interest. About an hour from now fed chair yellen will testify on Bank Supervision and regulation before a house panel on capitol hill. Of course when she starts making headlines, well try to t
Lows. And wells fargo shares under pressure. Ceo john stumpf, well take you live to washington for the latest details. Duncan donuts is teaming up with cocacola. Nigel travis is in the house and will be joining us here to talk about the news and what some are calling a restaurant recession. Get his view of the big picture in his industry coming up in a little while. Deutsche bank falling on signs that some of the counter parties are reducing exposure to europes largest investment bank. Joining us now with more on this, cnbc fast money trader brian kelly. We have kate kelly and senior markets commentator mike santoli. It started around mid day when word got out that these hedgefunds were cutting back on their Counter Party relationship. The report just to review was internal document suggesting that a bunch of hedgefunds reduced they are relationship there. And essentially this highlights concerns about Deutsche Banks Overall Health and whether it is the right place for hedgefunds to st
Its an 1 45. Good morning everybody. Welcome to the cato institute. Im an immigration policy analyst here. If anything, this 2016 election will turn more on the candidates respected immigration positions than on any other. Donald trump, the republican nominee won his primary, primarily based on this topic for his support to reducing Legal Immigration, building a wall and deporting unlawful immigrants. On wednesday night, he delivered a major address on this topic in phoenix, very basically double downed on his positions, squashing the rumors that he was softening on this issue. A topic of immigration has produced the loudest and most disagreements of this election season so far. Polling show that immigration is not a top issue this year in the minds of voters, the electorate certainly hasnt been then interested in a topic in about a century. Unfortunately, though, that popular interest is combined with a healthy dose of misperception of both the public and policy makers who attempt to