Lauren widening scandal on wells fargo after warren buffet said the bank is on the right track. Fbn am starts right now. Lauren 5 01 a. M. In new york. Good morning, everyone, im cheryl casone. Lauren im lauren simonetti, dead toll from harvey to 39, officials warning there could be more explosions at the Chemical Plant in crosby, texas, the plant was hit by two explosions yesterday and one lost power. Cheryl this as daunting time of cleanup, jeff flock is live in houston with all of the latest, jeff, good morning. Good morning, cheryl, good morning to you. I do sense a corner being turned this morning. Take a look at the scene behind me. No more water, but this is what harvey and the flooding has left behind. You know, there are different neighborhoods in houston, 40,000 homes impacted, many of them as you look at the debris here flooded quickly and the flood waters are already down and people are already attacking it, pulling out their damaged goods, pulling out the drywall, getting
90 minutestes ahead from the close. Mark stocks a bit lower today, little changed, down by. 1 . They were higher by. 1 a little earlier. The president stepping back from this immediate declaration of independence. Lets get more spain centric, this is last monday, one day after the referendum through to today. Losses at 4 , now down just 1 for the duration. The ibex marginally lower for the period, investors responding to whats been going on in the last 24 hours, as they are with euro, which is up today for the fourth day. Catalonias president stepping back from that immediate declaration of independence from spain. The spanish Prime Minister stepping up pressure on catalonias government to back away from independence talks. That could lead to the assertion of direct control from madrid. Analysts forecast the euro will end the year at 1. 18. The most bullish at 1. 26. Pnc financial has a 1. 07 forecast. Those are the two ends of the spectrum. Yields in the 10 year the aftermath of the r
S p 500. It is in the ring with all three major averages having been flirting with unchanged to slightly lower and now unchanged to slightly higher in todays session. Awaiting the fed minutes this afternoon which could create more movement in the market. We are seeing movement and sports related, we were just talking about this, what happened with the world cup qualifier last night . I do not know if the cameramen will shake as the camera man is unhappy with the result of the u. S. Mens soccer team being eliminated from the world cup qualifying match. This is having a Ripple Effect among broadcasters with fox sports paying more than 400 million for the domestic englishlanguage rights to the next two world cups and telemundo spending 600 million for the englishlanguage rights. Fox said it world cup coverage next year will be the largest production in its history. It is down and contest is down and disney and cbs also taking a hit. A lot of Corporate Partners as well, cocacola, at t, anh
Inflation before raising rates again. Toricane effects are going make the data hard to read in the coming months. Inflation is going to be temporarily boosted by the hurricane. Unlikely to materially alter mediumterm economic activity. The labor market seems to be looking good to the federal reserve. They noted that the Unemployment Rate is back to prerecession levels. The fed is feeling pretty good the unemployment situation and inflation moving back up to 2 . They are getting a little bit wary about the slowdown in inflation. I think the keywords are that many officials are concerned that the low inflation thing is not just a transitory effect. Lets get a check on the Market Reaction to fed minutes. Julie right now we are not seeing much of a stock reaction. Its an unusually tight trading range and Small Movement even for stocks given the recent environment we have seen. Lets take a look at the intraday chart to see if any move is any more clear for the s p 500. We are not seeing muc
Reform plan will further spur growth forecast for the e commerce giant and shares of ge on the move jp morgan report seize a dividend cut as increasingly likely the Company Tells us it remains a top priority historic run in the markets includes the 47th record close of the year. Weve got black rocks larry fink talking about risks in the market earlier this morning on squawk. Lets be clear, the United States deserves a premium. Our companies are stronger they are better managed over across Many Industries so i actually believe the u. S. Deserves a premium to the other markets. Not just that, jim, says he wouldnt expect to see any major reversal in equities until sometime next year. I love the guy, what can i say . Every time i talk to him and see him, he has a sense of whats going on there are moments when hes pessimistic and not like hes permable, i like what he had to say and liked his quarter. I wrote a piece this morning for real money saying its events that i cant see and north kor