Shazam is this an Artificial Intelligence play . Were going to look. Whats to buy ahead of tax reform debate on whether Airline Stocks could be the big beneficiaries of any tax bill. But we do start with the story thats taken wall street, main street, any street, frankly, by storm, and that is bitcoin. Bitcoin futures popping in their first full day of trading on the cboe Cnbcs Bob Pisani joining us with that story. Bob, everybody is talking about it. It is and its finally happened the good thing is at least trading has happened and relatively orderly we passed 18,000, folks. Bitcoin futures opened 6 00 last night eastern time, 15,000, moved up very, very quickly. Here you see its over 18,000. So its been small, 3,600 contracts, figure the math here. 17,000 p 17,000, 18,000 about 60 million. Thats not a lot but its a start at least heres whats important. Lets go over what exactly a futures contract is, why this is so important first of all, its just agreement to buy or sell a commodity
Welcome to power lunch. Stocks are lower at this hour and dow and the s p 500 slightly higher telecomes are the best financials fedex more than 300 and wild trading day for bitcoin plunged 10 earlier and sinking again now. A lot of news. Hackings, bankruptcies and selling from a major player. Well dive deeper into it. Blackberry the company topping expectations and 2018 revenue and stitchfix, however, tanking. The Apparel Company increasing its Customer Base but its bottom line was impacted by higher costs. And chipotle taking a drop the stock is lowered by more than 2. 5 . Brian . Michelle, thank you. We begin today with the latest out of washington, d. C. The tax bill passing, again. All the angles of that bill covered. Abram at the president where the president is expected to hold a tax bill event at 3 00 p. M and kayla is on the next big story. Thats a funding bill to keep the government open. Lets start with elan. Brian, it is Done Congress has now passed the most sweeping rewrite
Year im Brian Sullivan welcome. Power lunch begins right now she works hard for the money so hard for it, honey im Michelle Carusocabrera at the New York Stock Exchange back in rally mode, the markets, highest in three days been all three indices on track for a positive week. Dow jones industrial average higher by triple digits. These days only a gain of half percent. How much of a rally over the last year. Goldman sachs, two names leading the dow higher Goldman Sachs and chevron hitting a threeyear high, by the way. Energy, outperforming, etx, xle on pace for its best in the year and all big winners. Alltime highs, home depot, c t caterpill caterpillar, fedex, and big loser, pg e due to california wildfires. Beginning the hour with breaking news on the fed Steve Liesman joins us with more. Thanks. Cnbc learned from sources familiar with the situation that leary lindsey commit considered fed vice chair job, lindsey interested in exploring the job. We dont know what status the discussio
The crown prince arrested dozens of princes, top officials, including wellknown billionaire as part of a sweeping anticorruption probe. Crown prince, his Royal Highness, prince muhammad made a historic statement to me at the conference which you will hear coming up in the program. Also on todays program. Technology billionaire Steve Schwarzman, Carlyle Group David Rubenstein and paul farley and kick it off with treasury secretary steven mnuchin. This is what he told me before that. Very excited with the progress on tax reform, as you know, something weve been working on since the beginning of the year, we have the budget passed with reconciliation instructions, we expect the bill to come out very quickly and get this to the president to sign this year. Could you live with this bill without eliminating the state and local Tax Deduction . I think the two most important issues that the president is focused on is the 20 corporate rate to make our business competitive and a middleincome tax
The crown prince arrested dozens of princes, top officials, including wellknown billionaire as part of a sweeping anticorruption probe. Crown prince, his Royal Highness, prince muhammad made a historic statement to me at the conference which you will hear coming up in the program. Also on todays program. Technology billionaire Steve Schwarzman, Carlyle Group David Rubenstein and paul farley and kick it off with treasury secretary steven mnuchin. This is what he told me before that. Very excited with the progress on tax reform, as you know, something weve been working on since the beginning of the year, we have the budget passed with reconciliation instructions, we expect the bill to come out very quickly and get this to the president to sign this year. Could you live with this bill without eliminating the state and local Tax Deduction . I think the two most important issues that the president is focused on is the 20 corporate rate to make our business competitive and a middleincome tax