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donald trump talks tax. he puts out his vision to return the u.s. economy to its glory days. good morning. welcome to countdown. markets are big. equities are racing higher. is experiencing a he puts out his vision to return the u.s. economy to its glory days. stumbling blg block. we are on the longest losing streak since may of last year. sincengest losing strict streak since may of last year. people are beginning to really understand what the brexit means for the currency. barbecues beat brexit. do when thebrits going gets tough? shopping and have barbecues. retail sales are where the market has taken us. is there more easing or pain to come? let us look at the risk radar. i ve mentioned equities. they are racing ahead. mse i asia is up 0.5 msci asia is up 0.5%. something which has shopping ane barbecues. retail sales are where the market has taken us. which it .s not pumping ahead is nymex oil falls as these informal oil that are notely likely to talk about s ....
all year long. that is a rally of energy and materials. this was called the dash for trash trade. is it now the global recovery trade. it s the global reflation trade. whether it means the world s okay or not, i think are two different questions. whether these things were oversold or not is part of the story. the fact that i think commodities have put their bottom end, and that s i m not going to hedge it saying it depends on what the dollar does. we come to a place where a lot of supplies have been taken offline. you ve taken a lot of supply in the oil space. you ve got bankruptcies. places that things that people wanted to see you have the ridge count numbers, doha collapsed, and here you have oil. i think it s telling you that we re in a place where a lot of the trades are getting back to a place where i think you re starting to see a bottom. it doesn t mean that the world is a whole lot better. in the case of volatility these are still names, folks, you better b ....
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? let s 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 that s 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, it s sticky. they re intent on shutting down production and they have the capacity to do. so it s 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 they re calling themselves. it s really a men take two. there was a group that kidnapped oil workers, shut down facilities and par ....
our investors are throwing the baby out with the bathwater. we were asking about under armor earlier too. more on that is coming up. the so-called fang stocks, those that yuld used to be the hottest in the tech sector. two have been losing their bite lately. we ll look at what s behind the decline of their names and wherever they can recover. and we ll talk about the future of cable and we ll speak exclusively with the president of cox communications coming up. meantime one of the stories that set the stage for this morning, we had home depot dropping despite an earnings beat. courtney reagan here to make sense of it all. hi, there. bill. home depot again posting quarterly results strong enough to beat analysts expectations for profit and revenue and its most important quarter of the spring. and for extra positivity, it raised its earnings forecast. they grew more than 7% in the u.s., more than 6% when you add in mexico and canada. however, comes did decelerate ....
daughter sherri and the ceo and leader of viacom phillippe dauman. this morning he has filed a lawsuit just moments ago along with george abrams in the massachusetts probate and family court challenging changes purportedly made to the trust arrangements by an attorney claiming to represent mr. redstone. in a legal complaint, these two gentlemen, mr. dauman and mr. abrams who again have been removed from the trust that oversees the stake in national amusements that in turn controls viacom and cbs, they are going to the court saying they want immediate judicial relief and a court ruling to invalidate the purported removal of them by mr. redstone as trustees of the trust and also invalidate the removal as well as directors of national amusements. they would assume then want him, that is mr. redstone, to be deemed potentially incompetent and not able to make decisions. and very harshly worded language, guys, that accompanies this lawsuit. in a press release i just received ....