We had a long weekend. Abigail they are getting back to work with more records. We have the dow, s p 500, and nasdaq trading nicely higher, hitting another day of simultaneous highs. Anyway you slice this, we are looking at very bullish assets. It is the best monthly performance since march last year, a continuation of the rally out of the election. Administrationp will reinvigorate the economy. Have a 1 move up or down for the s p 500. If you go to the bloomberg, the top orange line is a 1 move up and the bottom orange line is a 1 move down. We are on day 50 without the move in either direction, the. Ongest streak since july 2014 investors are waiting for more information before they make a bigger move with the s p 500. Have a somewhat stilted rally of rally ofgh stealth record high after record high. The fed in march, what it actually does for stock. But we are looking across asset class, it is a bit of a reversal. The bloomberg dollar index was trading higher by 4 10 of 1 . The 10 y
We had a long weekend. Abigail they are getting back to work with more records. We have the dow, s p 500, and nasdaq trading nicely higher, hitting another day of simultaneous highs. Anyway you slice this, we are looking at very bullish assets. It is the best monthly performance since march last year, a continuation of the rally out of the election. Administrationp will reinvigorate the economy. Have a 1 move up or down for the s p 500. If you go to the bloomberg, the top orange line is a 1 move up and the bottom orange line is a 1 move down. We are on day 50 without the move in either direction, the. Ongest streak since july 2014 investors are waiting for more information before they make a bigger move with the s p 500. Have a somewhat stilted rally of rally ofgh stealth record high after record high. The fed in march, what it actually does for stock. But we are looking across asset class, it is a bit of a reversal. The bloomberg dollar index was trading higher by 4 10 of 1 . The 10 y
Wti is higher by 87 cents, 54. 27. Brent is higher as well, 92 cents. 57. 10 over in london. Nat gas is lower by 7 cents. Decline of more than 2 . Among the top corporate stories, kraft heinz is withdrawing its bid for a merger with unilever. Kraft worried that it would be too hard to negotiate after the Public Disclosure of its bid so quickly. A kraft spokesman said the company intended to proceed on a friendly basis but found unilever did not wanted to pursue a transaction. Restaurant brands is in advanced talks to buy popeyes. The deal will probably be valuing popeyes at 1. 7 billion. An announcement could come this week. Wandas proposed 1 billion acquisition of Dick Clark Productions is under pressure. Wanda is run by chinas richest man. It already owns Legendary Entertainment and amc entertainment. Reuters reports wandas deal for dick clark is shaky but not yet dead. Part of the problem is they cant get the money out of the country. By the way, on this kraft heinz deal tell us. It
Big day for retail. Walmart announcing the best quarter in more than four years. Home depot beating estimates. Kraft drops its 134 billion takeover bid. Irene rosenfeld will join us later. New records. The dow up more than 4 since Inauguration Day. How long can the trump rally last . First up, walmart reporting a better than expected quarterly profit. Revenue just shy of consensus. Online sales up 29. Home depot beat its Quarterly Results. Boost the dividend. Macys posting a revenue miss earlier on squawk today. The ceo addressed speculation the company is up for sale. First of all, youve heard it talked about, rumors of the Company Buying us. Yes. Youve also probably heard the rumors that were buying them. Yeah. So what i can tell you is this, that were going to do the right thing for our shareholders and were not going to be a highly leveraged retailer. Those movies never turn out well, and weve seen that before. A lot to chew on here. A lot of discussion as far as macys goes as far
President s policies have not happened yet. Doc, ill throw it to you. Is there what art cashin calls a celebratory overload in the market . There could be, judge. There is no doubt that weve come very far very quickly. However i think its got a lot more gas in the tank. I agree with professor shiller. He believes that we could have a substantial move higher from here. Crediting the president and saying in comments today that he saw upside, considerable upside from here. Maximum optimism. A number of new highs. Go down the list today, 52week highs. Tiffany, conag. Going in alphabetical order. Two pages worth of stock s s p today hitting 52week highs. Thats not a bad thing. Im not saying it is. At some point you question whether the air has gotten a little sthin. I dont know. I think that the reason the market are going up are a couple of reasons. Certainly trump growth excitement is in this, it is in the marth to some dee agree. But i also think its because the global economies are Gett