News of more pipeline and refinery disruptions are all in the aftermath of Hurricane Harvey now reports of more storms brewing. Well break down the impact on energy prices. And explosion and fire at a Chemical Plant in texas. Were live on the scene with the impact. Scary stuff trying to figure out if its toxic or not we bring with treasury secretary Steve Mnuchin picking up President Trumps baton who spoke to our Steve Liesman earlier with hoy lights of that conversation. Thank you very much u. S. Treasury secretary Steve Mnuchin sitting down exclusively with cnbc saying the detailed plan cometh despite criticism that President Trump was promoting a plan without detail. Mnuchin says there is a plan, and it will be released within the next few weeks. Originally our goal had been august unfortunately, things got delayed a bit, but were on a track to get this done by the end of the year, so youre going to see the details come out later this month its going to go through a committee proces
The chart master sees something hulu becomes the first streaming giant to take home the fold go the first drama series how big a win . But first we start with the markets. The dow with a new record, s p with a new record and check out the leadership as the rally broadens out financials industrials, all leading the markets higher, so do you chase stocks at these levels statistics a simple as just keep buying, pete i think in some names it is in other names its more different. Whether we talk about the potential, the earnings potential, even without the curve helping them out, i think the financials are way too cheap. All we have seen in the last week or so has been 10,000, 50,000, 70,000 calls being bought in bank of america, xlf, all different names, aggressively positions, then you look over at some of the industrials, but also the materials. Paper has been very, very strong there as well. I this i the industrial names they feel stretched, so its all about how you value the multiple a
Im looking at the downside of the euro when it comes to sterling, down by 2 . The tech selling down by. 2 . David it is time for the morning brief. Will, Emmanuel Macron deliver a speech. He will propose reforms to the eurozone. This afternoon, janet yellen will deliver remarks at the in abe meeting in cleveland. At 1 45, President Trump will hold a joint News Conference with Mariano Rivera at the white house rose garden. We expectl, those after 4 15 this afternoon people later, trump will be traveling to new york. There will be a part of this rollout of a tax reform package. Running us with more is marty schenker. Program. Ack to the i want to start with marty. The president has put his priority, texas. We have three tweets. They are about the nfl, the nfl in the nfl. How does that fit together . Marty it fits together with the message that trump wants to project to his base. He is going on the stump. We have north korea threatening war. We have an entire travel ban that is in place.
4 today hitting its lowest level in more than 4 years this despite the announcement that it is giving activist investors nelson peltz a seat on its board. With a techie dividend, widely held share base this might be one of the most tempting stocks to buy the question is simple though. Is this an ultimate value play or value trap . Guy . I would continue to say and i think weve been steadfast on this one, its a value trap. Now the good news i think today is heavy volume, yeah, traded 140 million shares typically trades about maybe 40 million or so. Thats a good sign maybe you flush a lot of people finally out of this name, but on friday while you were galavanting someplace and mcc was sitting in that middle seat, she asked a similar question and i said Thomas Edison could come back and run ge and that wouldnt save it ill say it again tonight. So are we getting towards interesting levels i would say yes. Only in terms of what we saw in terms of volume and in terms of what they saw you fo
Data, low Interest Rates not too shabby, especially for a market run that many, including people right here on this desk, have been skeptical of so is this rally finally earning, get it, earning respect . Is it safe to call this the greatest bull market of all time guy. Im one of the skeptics but ive also said you have to respect the price action markets dont give you ample time to buy low and sell high, it keeps grinding higher is it the greatest bull market of all time . Apparently so with trump, we played that great music on the intro so it must be. Our Federal Reserve is absolutely an okay stbstacle. Theyve done everything right to get us where we are now but the hard part starts now if you think this will be unabated with the federal of the Federal Reserve, i will say you know what, theres hiccups along the way. Weve had obstacles to past bull runs. Weve called that climbing the wall of worry. Arent we making this monumental climb here to record highs against a whole list of headw