After yesterdays strong rally following on the heels of wednesdays strong rally, were up about 1 on the dow. I dont like to talk about the dow but unless the s p stronger. China did all right. Shanghai up 1. 8 . Shenzhen up, and nikkei at a 3 gain. We were below 2 at one point on monday in the craziness, but now were hovering in the 1. 2. Crude had its best day in many years. Well above 40 again. Monday, we fell below 40. It has been, to say the least, a volatile week in many markets. Lets get to our road map this morning, and it starts with the last trading day of this wild week. The dow coming off its biggest twoday point gain ever, not percentage but point gain. Equity futures, slipping. Carl icahn has his next target. Why commodities . Why now . Well talk about a company weve talked a lot about and mr. Akahcarl icahn himself, and the takeover continues. Pa perrigo is saying were not interested. Ill have more on what to expect as the Companies Battle it out. Futures moving to the do
Welcome to power lunch the s p joining the dow in having its best day since march 1st. The three major averages now positive for the month all 11 s p sectors are trading higher right now health care, tech, trading above their record closes. Financial also a big winner today. The dow utility setting an alltime intraday high as melissa mentioned, irma, not as bad as it could have been the floridabased insurers and the reinsurers, they are soaring, up anywhere between 5 and 15 . Im Brian Sullivan out in San Francisco. Perhaps no stock important for the dow as much as apple tomorrow, apple, the first event at their brandnew billion dollar headquarters. Expected to launch not one, not two but perhaps three new phones with a price tag of upwards of 1,000 Analysts Expect this to be revolutionary. Not evolutionary the stock has becoen on a tear well get you details perhaps on apple watch, apple tv. Its all going to be about this device, the computer in your hand, ten years after the release of
Behavior by President Trump is the reason behind this decision. The white house was quick to respond. The president is focused as he went to the hill and met with republican senators to talk about tax reform that pushes legislative agendas of others that these individuals they are speaking and pretty loud volumes i think that they were not likely to be reelected and i think it shows that the support is more behind the president and it is the two individuals. Maria decisions come as the gop pushes for tax reform. The commanderinchief of made a decision on capitol hill yesterday to rally the party to get this done. Speaker of the house paul ryan also waited insisting intentions would not hurt the effort. And im hooked on wall street among the top names today. Going in cocacola today. We will bring you the analysis of numbers and tell you how they impact markets. Markets are flat right now. Features indicating a flat opening or dow industrials down for point. As you see there in europe, t
Markets setting new highs. It does raise questions about whether many of the biggest names are simply worth your money or not. Doc, youve been talking about the banks being a good place to be. Jpmorgans cfo starting this yesterday whether brian moynihan, Morgan Stanley sounding the same sort of alarms. Why should investors be in these stocks . You should wait for a moment like yesterday in Goldman Sachs and you see a 7 or 8 collapse. That happens. It happens in great stocks, jpmorgan, whether its the whale. Yesterday it was reaction to the venezuelan bonds that Goldman Sachs purchased for 31 cents on the dollar. People werent questioning whether they were going to lose money on the bonds, they were questioning ethical questions about should you be supporting that particular dictator and so forth by virtue of basically backing his bonds. Arent we talking this is a simple story. Trading is down. Yep. Trading is bad. Yields are too low. Banks cant make money. Why buy the stocks, erin. The
All but four states start their tomorrow. D lawmakers in about 20 of those states have yet to finalize a budget. Maines governor is threatening a shutdown for the First Time Since 1991. Its the 11th hour negotiations for negotiatigauche for legislations and nowhere are the financial pressures greater than in illinois. Which has faced its own twoyear budget stalemate and is now on the verge of having its credit downgraded to junk, but there is some movement today. Today, the house gave initial approval to a spending plan. Leslie picker reports from chicago. If you want to better understand the economic prices in illinois, look no further thap the 16 stories government building known as the jean r. Thompson center in downtown chicago. Everyone agrees it could be sold. Its worth about 200 million, money that could be used to help the state, which is broke, but the democrat emanuel and Bruce Browner couldnt find a way. The governor announ thats okay. With all these bells and whistles. I sa