Is outside the white house, elon is there in washington standing by with the latest on the tax bill itself. Lets start with you, what do we know about this event coming up . Reporter theyre not actually going to do a bill signing. The sbil not ready to be signed just yet, but this is very much a Party Atmosphere here on the south lawn of the white house. We have the marine band going through a list of Christmas Carols a few moments ago theyre serving hot drinking over here. Some of the vips and dignitaries have gathered in the audience. You can see behind me, republican members of congress lined up on the steps just above the south port co. Here on the south lawn of the white house. This is a unified Republican Party right now. Theyve been through a lot of tough infighting particularly over obamacare, this is a big win. This is a moment in which youve seen the president of the United States already today handing out praise to republican leaders, some of whom hes been attacking earlier
S p off by 13. Yesterday we saw a swing of 400 points or more we were up by 100, 350 i need more than 140 to get worried . No, thats a yawn at this point. 0. 6 at this point if you think back to all of last year watching, if it starts down 140, you could look away, look back, be down 800. You saw what was happening with treasuries. Lets look at that board once again. Looking at treasuries, these are the yields, the tenyear yielding 2. 831 . Stepping back from the 2. 9 it crossed yesterday. Check out the twoyear, 2. 069 look at europe thats where the markets are open for early trading at this point it looks like no, no back that up asia closed, but the nikkei down by 0. 6 hang. Shanghai up by 1 in europe, you can see active trading now, at least at this point things are relatively mixed ftse slightly higher but declines of a quarter percentage point for the dax in germany and the cac in france. Earnings still coming in this is a big one. Pepsico reported 1. 31 for the Fourth Quarter, a
Index was off triple digits. Bu compared to what weve been seeing lately it hardly. Register some say investors took a much neededhe breafter the recent bout of heavy volatility. Whatever the cause it was the third consecutive sessionf gains. The Dow Jones Industrial average closed higher by 39 points. The nasdaq added 31. And the s p 500 rose about seven. But as bob pisani reports, both the bulls and the bears are trying to figure out what might happen next. The dow moved in a 280point range from todays high tolo yet compared to the last two weeks its quiet. Amazing. Are things finally startg to settle down . Volume today was well below the recent average. The s 500 trade three times normal volume much olast week. What a titanic week it was. Now that the dow rorecouped ughly 40 of its losses from february 1st, the big debate is what happens next . The bulls would argue the correction was technical and there was no fundamental driver behind it they say earnings are growing and the Glob
Futures. The dow and s p are indicated higher. Nasdaq is lower by about 4. 5 . Alphabet. Alphabet and google. Ubs reporting a drop in Fourth Quarter net profit but results beating forecasts thanks to a better than expected showing in the equity business. The bank is pointing to improving Investor Confidence in the u. S. At the end of 2016. Speaking to cnbc earlier today, Ceo Sergio Ermotti says that could be a sign clients are ready to ged ot off the sidelin. We are realistic because we have data points pointing at clients and investors being more optimists and ready to be constructive about the situation. They are really looking for concrete actions by the new administration in the u. S. He said there could be mom t momentous changes for the Financial Sector if there is a hard brexit. Today we get results from chevron, honeywell, american airlines, General Dynamics and abbvie. And key Economic Data as well. A first read on Fourth Quarter gdp at read on Fourth Quarter gdp at 8 30, dura
Pounds under pressure although german Business Sentiment did hit a tenyear high. The samsung saga getting worse. Galaxy note 7 smartphones permanently discontinued. How are the other players like apple being impacted . Well have the latest from twitter. Well give you the latest on the continued talks with salesforce. Alcoa shares falling this morning. Coming up we dig into that report and talk to Klaus Kleinfeld in a cnbc exclusive. First up, samsung has permanently halted production of its troubled galaxy note 7 smartphone. The recall could cost as much as 17 billion. Apple is poised to open at its highest level since december of last year. The stock is up 21 in the past three months. Were now on to a cycle where the replacement phones are catching fire. The company says if you have them, turn them off and were simply not going to make them anymore. I believe the company told people in china that it was the batteries that were the issue. They tried to make a little difference about th