Of course spain and italy, we always like to have them when im doing this part of the show. But we dont this morning. Italy a couple percent. Thank you, sara. As for the tenyear note yield still hovering around that 2. 5 yeah, there we are, 2. 54 we call it this morning and crude down about 1 . Lets get to the roadmap on this friday before christmas, and it starts with the Trump Twitter bomb. Defense stocks on the move after the president elect pits boeing super hornet jet against lockheeds f35. Investors are taking notice. Going nuclear, russian president Vladimir Putin responding to president elect Donald Trumps call for a nuclear arms race. And wheres the santa claus rally . Come on, its that time of year. Futures are plunging to a lower open as we see from dow 20,000. But the dow does remain on track to match its longest weekly win streak in two years. Well, Lockheed Martin shares are falling as you see right there in the premarket. This after president elect trumps latest tweet on
Expected to roll out a revised exec tifr order on immigration today. Well talk more about the economic impact. First up, stocks are looking to extend weekly winning streaks. The s p and nasdaq each up to six. The dow posting four straight weeks of gains since the bull market began about eight years ago today it has generated more than 21 trillion in new stock market wealth. In fact, today is the anniversary of the dows crisis low, 6,400 and change, of course the s p and haines bottom come in a couple of days. There were a lot of people believe the asset class tarnished back then and havent come back. There are a lot of people who believe that a return on a tenyear bond is acceptable. And there are very few people say, i got to put all my retirement money in the stock market because its actually hurts you. Its not like the old days where people feel that its a completely investable concept. So today, again, j. P. Morgan comes out, gives a bunch of reasons to stick with the reflation the
Military strength. And some signs of a not so roaring economy. Retail prices are dropping. U. S. Futures now pointing to more or less a mixed open. Shares of eli lilly are tumbling more than 5 in the free market, failing to receive fda approval for a new Rheumatoid Arthritis drug. Stocks are looking to bounce back after the dow and the s p ended the holiday shortened week with the worst day in three weeks. And retail sales slowed down for a second straight month. We have geopolitical concerns and the Vice President is sending north korea a message during his visit to south korea. While issues like that remain the president and i have great confidence that china will properly deal with north korea. But as President Trump made clear just a few short days ago, if china is unable to deal with north korea the United States and our allies will. Got the dollar today at a five month low versus the yen. People going for safety. We mentioned gold getting near within about 2 bucks almost of 1300.
Moments ago. I think you have sort of a false market, buoyed by zero Interest Rates and you have to be cognizant of it. Of course, covered a lot of ground. Talked valeant, apple, herbalife. But in general, nervous about very big, bad things happening in the global markets. Without a doubt. If you have a billion dollars and youre over a certain age, it seems like youre really focused on the risks. The environment doesnt feel comfortable to you. Negative Interest Rates are something you never thought youd have to contend with. And its not to say its correct or wrong, but its one of those things, everyone understands the unease. If youre somebody like carl icahn who has made his fortune putting money at risk when everybody else was panicking and it seemed like things were cheap, thats not really the environment you feel like were in right now. You had an interesting discussion about these gentlemen on twitter yesterday. In part, the conversation went, are they uncomfortable with a communi
The fed chair said. Thanks, brian. Janet yellen reinforcing her cautious for the u. S. Economy and emphasized the uncertainty of the brexit vote this thursday and the recent slowdown in u. S. Job growth and Global Economic weakness. A uk vote to exit the European Union could have significant economic repercussions. For all of these reasons the committee is closely monitoring Global Economic and financial developments and their implications for domestic Economic Activity, labor markets and inflation. She said the fed is prepared to act depending upon the Economic Impact they assess. Longer term they are optimistic the u. S. Economy will overcome the challenges. Scott wapner asked Senate Bank Committee chairman if yellen is doing a good job . Shes cautious and she should be cautious, but she should know what shes doing. Im not sure the fed knows what they are doing. As for what they seem to be doing now, the big takeaway from yellens testimony, it suggests a chair thats fine with the mar