This is the second hour of. Aybreak asia just after 7 00 p. M. Here in new york. We have breaking news on singapore. The final gdp numbers for the Fourth Quarter coming in much better than what was prior 12. 3 quarter on quarter have also much better than what was initially reported. Resulting in an annual gdp rate of 2 . There is a lot of concern about this exportoriented economy, what trumps policies might mean for singapore in the future. Trade is definitely one sector. Still faster than the Third Quarter but it seems like the construction sector shrank. Manufacturing grew by 11. 5 year on year. Once singapore starts trading in we will also get exports at the bottom of the hour. A lot of news happening. First off lets get the market open. Asian shares looking to follow up the drop on wall street. Asiapacific gauge is at its highest since july, 2015. We have china futures pointing to a higher open. We might not be done yet. Take a look at the markets that are open. Australia continui
Welcome to power lunch , im the dow off by 52 points, and nasdaq is lower by 27, as melissa said, soaring in the debut, i almost said snoring. More on that in a moment, but, first, we are following a big breaking story on caterpillar. The Stock Plunged in the past hour on news federal agents are searching that companys global headquarters, off nearly 5 , you see from the intraday chart when the news broke. These photos coming into cnbc. In them, irs agents are gathered outside the headquarters. Lets get to morgan with more on the developing story. Morgan . Reporter thats right. As you mentioned, shares of caterpillar sliding now, as federal agents search three facilities, including in illinois. As you see from the photos, you just showed one, theres another one that has cars lined up outside of the head quarters, and those cars belong to federal agents. In this particular picture, you see agents from the irs, also fbi and Commerce Department participating in these searches. The Company
In europe things are in the red. The dax and cac are down 0. 6 . The ftse off by 0. 8 . Knitly, sto ly in italy, stocks are down about a percent. Right now the dollar is up against the euro which is trading at 1. 0874. Down against the yen. And crude oil has been weakening even as the dollar had been struggling with issues. Wpi down abo wti down by 1. 43 . Have we shown the tenyear . No. I would show the tenyear. 2. 40. I will do a story in a second talking about fed speak again. Who cares about the fed anymore, theyre irrelevant, not at 2. 40. 2. 40. We were on our way again. We were on our way again theoretically to 2. 60, 2. 70, 3 . What does that say . Does that say 1 gdp number in the First Quarter stays at 1 . None of these things in the trump agenda come on time . Or big as expected . Are they delayed . Does trump care lite mean tax reform light . Or do we even get the taxes . So these ive never been in congress, i never will be. But theres a lot of kabuki dance. I understand th
Is flying high. Mcilroy is once again the number one in the world. He is the favorite at this weeks pga championship. For more on this bank rescue, we are joined by guy johnson from london. The bank said earlier that a public rescue would be its last resort. Here we are with the last resort. We had a change of management and the new management look through the numbers and the books and said we need to be more honest about the state of play, about the risks and liabilities that the bank faces. As a result, we got a huge loss last week. As a result, effectively, this bank became insolvent from a regulatory point of view. Effectively, the government has had to step in. A little while ago the management said everything was ok, new management comes in, not so much. We have a problem. As a result, we need some bailout money. Now that they have the bailout money, what is next . Exactlyve to figure out what is happening here, what the real linkages are. The taxpayer is not on the hook, the gov
A federal judge says he would not approve a provision in which hp will have to pay for shareholder lawyers and shift the focus to exautonomy executives. Hp is suing deloitte over the results now. In parts of napa, they are cleaning up after the strongest earthquake to hit Northern California in 25 years. The 6. 0 earthquakes damaged buildings and it hurt 170 people. We will see how scientists predict and prepare for earthquakes. Amazon is no stranger to opening up its wallet, today at least. Today, they announced its largest acquisition ever by buying twitch video. A platform where people watch other people play videogames. Amazon paying 970 million in cash. Toss in the earnouts, the price tag is 1. 1 billion giving amazon what . Amazon will get 55 million active users. That is how many people are watching people play video games every month. It will help amazon expand streaming offerings. It includes the fire tv set box and the fire phone as well. It comes as talks between google and