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democrats promise they re going to be talking about guns when they come back. all right. john, thank you very much. john harwood reporting from washington. okay, folks. the day is here. we have about four hours left. let s listen. jonathan roth. you ll be back. soon you ll see. oceans rise, empires fall. 3:59. we re going to hear something. voters deciding whether or not to remain part of the european union. the decision coming down to the wire. the outcome could have a huge impact on your money. welcome, everybody, to a hami hamiltonian edition of power lunch. michelle is off in london and we ll get to her in a bit. first to the markets, a huge rally on wall street. traders watch that brexit vote. bob pisani is on the floor. the market is acting like it knows for sure that the uk is going to vote to remain in the european union and that makes me nervous. it s raining cats and dogs over. there the outlook is still very uncertain. the market knows what s going to h ....
street journal. profits to fall for fourth time in a row. i was worried. i was worried i slipped into some sort of alternative universe, alternate dimension. could they be talking about this market, which gave you a nice little gain today? here s an article that has really, this has a first-class a-number one wound. several factors are weighing on earnings. collapsing oil prices are taking a toll on energy companies. low interest rates and a weak market. and a saturated phone market is reining in apple inc. but how does that mesh with the fact on the ground? this season started a week and a half ago when pepsico took things to an all-time high. even as pepsico has gotten it up, i can t imagine how better it can be than this company s doing. so the bar for the season was set very high indeed. them amoco what followed with an amazing, a stunning report. the best numbers we ve seen from this company in years. alcoa gave you extraordinary earnings and revenue beat, thanks t ....
where are we? around there. as you can see. hanging around 44.50 on wti and you see brent as well. our road map this morning starts where you expect it to, donald trump, taking an ominous tone in his acceptance speech at the republican national convention. we will bring you the highlights live from cleveland. and we have a parade of earnings this morning, stocks moving on those results, everything you need know about the reports. ge, starbucks, at&t, honeywell and a lot more. roger ailes is out at fox. what happens next? and what it means for the entire media landscape. in his acceptance speech last night at the republican national convention gop nominee donald trump set in the tone for a battle against hillary clinton. amon javers is in cleveland and brings us more. good morning. good morning, david. it was a family affair at the republican national convention in cleveland last flight. donald trump s daughter ivanka introducing him to the crowd. a lot of americ ....
carl kin nquintanilla is on assignment. also jessica, and mike isaac, technology reporter at numbs in the meantime. good morning to both of you. we start with our top story this morning, facebook taking on snapchat once against with a new instagram product called stories. the product will be built into the instagram app includes face filters, and location tags. it s been it doesn t end there. facebook is also tests video ads as a way to monetize the new sometimes controversial feature. jessica, interesting to see facebook go at snapchat yet again trying to build their own product. they tried to acquire snapchat is the third time a charm? we ll see. this is interesting if you look at instagram. it was the hot app for a long time, but people are posting less to instagram. that s a big problem, because it could lead to lower engagement down the line. i think this new product is really a grasp to change that, to make a lower part to posting in the hopes that people wi ....
points today. its seventh consecutive decline. s&p sank .6%. strong dollar and lower oil prices are once again wreaking havoc on the stock market. just like it did earlier this year. until we got that nice respite in july, a respite that sadly now seems over. so how the heck did we end up back in this ugly situation? what are we supposed to do about it? why don t we start with the key culprit? oil. oil declined 20% from its recent highs which qualifies as a bear market. whatever that s worth. it s remarkable how little investors seem to care as oil plunged from $50 down to $40. the whole market moved higher. often led by none other than the oil themselves. this paradoxical action culminated in oil crashing down to $41 last friday. the same time many oils as well as the broader s&p 500 moved higher. but as of this week, that decoupling, it no longer seems to be the case and as oil blew through today, most of the market rolled over including glaringly many industrials, te ....