And welcome to power lunch. Im melissa lee. Stocks keep surging. New records for the s p and nasdaq and the usual suspects keep hitting fresh new highs. Corning, electronic arts, nvi nvidia, the list goes on and on. On pace for its best day since march 3rd, snap has traded over 44 million shares today. That is more than double its 30day average volume. One of the key catalysts for had monday, the surge in the price of oil. Crude hitting nearly 50 a barrel. Lets get the latest from the y nyse floor and bob pisani. Reporter and thats the key. The market in the rotation. Lets put up the board. Whats been weak throughout the year is this energy, banks and retail. Whats leading today . Energy, banks, and retail. This is what i talk about this rotation. Consumer discretionary but theyre lagging today. Take a look at sectors in 2017. Yes, tech and Consumer Discretionary but, look, banks and energy have been laggards. Theyre leading. This is why the market keeps holding up near the top. Old st
For more, i want to bring in Stephanie Ruhle. Tell me what is out for you . I am broking hearted. Im standing youre thinking youre talking about me. Clearly, Morgan Stanley is having a big morning. Trading revenues and fixed. Ncome are less than expected big drop. Not as well as they did last year were last quarter. It is better than we thought from citibank, 12 down. It was only eight percent. He is optimizing his trading assets. In this environment, they are chugging on. James forman has a consulting background and not a banking background. He beefed up his management business, banking did well, equities are outperforming goldman. Morgan stanley was in the gold room and they are making a comeback. Class of all the major wall street firms being reported, whats your big take away . Slow and steady there it anyone who thinks they will have a booming and amazing year, it is not happening or it when Morgan Stanley performs any look at the numbers, it is somewhat surprising, the revenue nu
Deficits. Instead, we have seen the fastest Economic Growth in over a decade, our deficits cut by two thirds, a stock market that has doubled and held inflation in the most and 50 years. 15 years. Among proposals, higher taxes on the wealthy were hiring employers to offer paid sick leave. The republican response was given by newly elected senator joni ernst of iowa. America has been hurting. When we demanded solutions, too often, rob washington responded with the same stale mindset that led to his policies like obamacare. It is a mindset that give us political talking points and not solutions. Remounted japan, the central bank has cut inflation forecast and kept its stimulus in place. The bank of japan says prices will increase in the next fiscal year. The bank of japan says Lower Oil Prices will hurt efforts to reflate reinflate the economy but will help growth in the long run. Now the mystery of the new England Patriots paired according to espn, 11 of the swell football for the patri
Security working group with United States after the u. S. Justice department charged five Chinese Military officials with stealing trade secrets. The working group was established last year as a way for the u. S. And china to try to find Common Ground on cyber security. Has also banned the use of Microsoft Windows eight on all government computers. The News Agency Says it was to ensure security after microsoft stopped supporting windows xp which increased fears of hacking. It is still widely used in china but private computers are not affected by this ban. A top official from the new York City Taxi and limousine commission. He will be the head of policy and community engagement. Uber had a battle with the new york tlc before winning approval for its service. Microsoft tries again when it comes to tablets, this time unveiling the surface pro3 at an event in new york city. Ladies and gentlemen, this is the tablet that can replace your laptop, surface pro3. We all thought there would be a
Doesnt cease and desist with attacks on isis. For president en route it a nato meeting, growing concerns is he wont come up with a plan, maybe europe will. Brist ans David Cameron promising swift action, the details are sketchy but the rage is not. Especially now that were coming to understand that this isis phenomenon isnt exactly a sudden surprise. Indications that as far back as last year, the president was given a headsup on isis growing threat. President either ignored or refused the warnings. So much we dont know. To former bush 41 defense secretary ted babin who knows this much. We are behind attacking these guys. And very late in addressing these guys. Secretary, your argument is not only do we not have a strategy, we dont have a clue, right . Pretty much, neil. The point comes down to before we have a strategy, you have to have a policy decision which you can base a strategy. The pentagon is sitting there as heavily armed fixit organization, you want to bomb isis . Yeah, we ca