Also, i want to welcome the chairman of the Senate Banking committee, who has done an incredible job, mike crapo. Great job, appreciate it. [applause] pres. Trump as president , there are few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office. Few of those trusted positions are more important than the chairman of the Federal Reserve. Accordingly, it is my pleasure and honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve. Congratulations. Mr. Powell thank you. [applause] pres. Trump he is joined by his sisters, and io say congratulations to you all. Bow, youake that deserve it. Thank you for being here. Today is another important milestone on the past to restore Economic Opportunity for the american people. And just a short time, we have already made incredible strides. Unemployment is at its lowest level in more than 16 years. You know that very well. You know that very we
I am pleased to welcome members of the cabinet, members of congress and distinguished guests to the white house rose garden this afternoon. Also, i want to welcome the chairman of the Senate Banking committee, who has done an incredible job, mike crapo. Where is mike . Please, mike. Great job. Appreciate it. [applause] pres. Trump as president , there are few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office. Few of those trusted positions are more important than the chairman of the Federal Reserve. Accordingly, it is my pleasure and honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve. Congratulations. Mr. Powell thank you. [applause] pres. Trump he is joined by his wife and his two sisters, and i say congratulations to you all. Please, take that bow, you deserve it. Thank you for being here. Today is another important milestone on the past to restore Economic Opportunit
In fact entirely for those three in the green. Look at spain there right now, or italy. They may be up, i believe. Ten year note yield had been hovering around 2. 2. Moved up a little bit yesterday. 2. 24 is where we are right now. On the ten year note yield. You can see crude oil also edging above 50 bucks. Thats important because it should produce some sort of movement in the stocks. It has not. Schlumberger, the Great American the Worldwide Service company is pretty much where it was give or take a few points from the when oil was at 26. That group is the one thats lagged the market if you wanted to ask me whats the key. That group has i was going to do that later. Were just getting started. Well, its a sector key. Im sorry interrupt. But you mentioned are you interrupting . Never. Thank you. Our road map is where well get to right now. I will ask you about that key u. S. Futures pointing to a higher open. Deere surges, on the move. This after the companies came in ahead of the esti
Thats why youre here. Cant find anyone. We have one guy left. Simeon. Is he bullish . He will be on. Already talked to him. One of the things hes saying is even if if there is a stumble in some of this stuff, market already deserves to be here, which is what i think. I think so, too. In terms of tax policy or that stuff is a bonus. Just not having the private sector vilified on a daily basis, not adding a new regulation, layering on a new regulation every day. When you take that off, its going to come back to a more normal level. Im with you. I think i know you are. The multiples are getting a little stretched, but Interest Rates, you know, stock prices are a function of earnings and Interest Rates. Interest rates are historically low still at 2. 5 roughly. Youre the one who coined t. I. N. A. I have. There is no alternative. And we have other things to talk about which in particular with the Trump Administration, were not talking about financial repression, monetary policy, were also
And spain and france. Strong gains across europe. And look at crude, which is set for weekly gains, up by 1. 25 on the week. Showing just about that gain today. We got surprising inventory builds yesterday. Traders seem to be taking in stride. The u. S. Treasury department issuing final rules to crack down on those tax inversions. Thats when a company is acquired by a smaller foreign business in a low tax country to avoid paying the higher u. S. Corporate tax rate. The new rules crack down on earnings stripping when the u. S. Subsidiary avoids taxes on domestic operations by sending them overseas as tax deductible payments. Got that . Sara eisen does. This is clearly becoming a signature issue for the treasury secretary, for this administration. And what he issued yesterday were new rules to crack down on tax avoiding companies. This earnings stripping strategy, its a common practice by inverted companies, they use the u. S. Subsidiary to issue loans from the Foreign Company that are t