We are inches away from the record. Futures steady as we wait for the fed at 2 00. Tech titans will meet with donald trump today at trump tower. Were going live to midtown manhattan, watch them as they walk in. Two new names officially announced to take a spot in goldman. More on the changes. First, 89 points, thats how much it will take for the dow to hit 20k. The blue chips coming off their 16th record closing high. S p and nasdaq hitting record territory. All aed head of the feds rate announcement at 2 00. Live coverage will begin right here on cnbc at that time. We will get the forecast. Well get the dot plots and the q a. I have to tell you that Interest Rates are down today. You can see how this market is changed. Oil is not up. Interest rates are down. The futures are not higher. The banks have a lot of people feel like that the banks are the ones for this rate hike. Even the rate hike is now baked in or maybe feel that some people feel the economy has peaked out for the moment.
Attack on the family of a fallen soldier. In about 30 minutes about 30 minutes into the trading day, we go to the Bloomberg Markets desk were julie hyman has the first look. As we see the s p pulling back, but the more surprising step comes from the dow, which is down for the seventh straight session. It is the longest losing streak for the index in a year and even if the s p 500 is down, it is still in a very tight trading range and has seen 17 straight trading sessions that index has not seen a move of 1 by the close, even up or down either up or down. This range remains intact in this earnings season. We have the automakers out with their sales for last month, all of the missing estimates, gm sales down, ford down and then Fiat Chrysler sales rising a third of 1 , but analysts were looking for a gain of nearly 2 . It is not just limited to cars, planes are also seeing declines. Coming out with its july passenger revenue per available seat mile, though shares are down and other airli
Year. But keep in mind we are still about 20 lower than where we were one year ago. The question, of course, now is where do we go from here . Lets bring in our all star oil panel now. Lima croft of Rbc Capital Markets and john. Two things, number one, you called this nigeria thing back on january 27th. Yes. Congratulations. Thank you. Is the output cut thats happening in nigeria enough to sustain higher prices long term or just short term activity . One thing about nigeria is we had supply outages in the past and they lasted a long time. What i keep telling clients is if nigeria goes off line, its sticky. Theyre intent on shutting down production and they have the capacity to do. So its the biggest upside ris nkt oil market. Is there any other sector where you have a group called the avengers having an impact . This is what theyre calling themselves. Its really a men take two. There was a group that kidnapped oil workers, shut down facilities and parade them around on tv. They do thin
Were in one of the environments where you enjoy, the sun is shining, we enjoy the lovely market and the u. S. Economy is stronger than the rest of the World Economy and most of the u. S. Stock market depends on growth globally so that the weakness in europe and asia are challenging Going Forward that the market right now is tie jesting comfortably but also getting a lot of help because central bankers around the world have been sprinting money and without Corporate Investment in new plant equipment which remains relatively light it just goes straight into stock price which is is great news if youre a stock investor but its not something im counting on for a long, long time to come. It strikes me that for tech this is one of the interesting moments where even though people are waiting for the sky to fall, the stocks have been, you know, throughout the year, moving all over the place, the strong names in tech still seem strong. Nobody is saying like they were back, i guess, in 2006, 2007
Pr cash trt company, creating a huge conglomerate that would include everything from form suit cals to pesticides. The ne ta offerover the year just got bigger. Shares fell in trading today. Big price tag, it wasnt the only science, health care and Technology Company sa firm for about 4 billion. This is the first major acquisition since spinning off a large portion of its business. Shares soared 52 . And then the deal. In bridge, canadas largest pipeline company, is buying spectra ener for 28 million. The combination will create the largest north American Energy infrastructure company. Shares rose. Jackie has the details. Zpl a this deal speaks volumes to the kindn were seeing and will continue to see as Companies Look to reduce costs, deverse fi and streamline their businesses. Obviously, pipelines get oil from point a to brk to pint b. Hat peo out ground. Even with the fracking boom, crude cant be moved around, well still need to import foreign oil, which defeats the purpos pumping o