Lunch. Im melissa lee. Stocks are holding steady. The nasdaq hittinging yet another record interday high today. Tech and industrials the best performing sectors Consumer Staples and financials. They are the laggard. Down 2 on a big miss, mastercard is up two and mosaic down 7 after missing the top and bottom line. Brian . All right, melissa, thank you very much. And i am brian sullivan. We are coming to you live from day two of the milken global conference in Beverly Hills, california, speaking with the worlds top thinkers on the market and economy. Politics, which is encapsulating everything today, eric cantor being former House Majority leader, chris aailman and dr. O. Welcome, everybody. As michelle mentioned twitter popping this hour thanks to comments from billionaire investor mark cuban. Its up about 4 right now, and we will get to those comments in a moment. First the air is coming out of the auto bubble, it seems. Gm, ford, fiat, chrysler all taking big hits today. Lets go insi
Winner. First we start off with comments from the Trump Administration that sparked a nearly 200 point rally in the dow. Steve mnuchin and garycoen. Mellissa, a clear page from two of president trumps top economic advisers, trying to reassure the public they are making progress. Here is garycoenspeak at a council here in washington today. Head and i are spending a lot of time working together on tax policy. So we are going to come out with a unified, united tax proposal from the white house. This individual as well as corporate . Includes individual as well as corporate. Now, gary cohn did talk about his principle for tax reform, including simplifying the code for those individuals and business and lowering that corporate rate, Steve Mnuchin says any deal will pay for itself when he was asked about the timing of when that bill might be introduced, heres what he said. Soon. Very soon. Very soon. And just to be clear, we hope this wont take until the end of the year. Okay. So were very f
Civil suit. The Justice Department dropping its twoyear effort. Weve got the details on that coming up. Meantime, amazon is making a big bet on its echo device called alexa. All the alexas answering out there, people listening in. Theyre looking to make it a 1 billion business. Will increasing competition from apple and google get in its way. Thats something well look at coming up here. Plus, the end of an era. The partnership between American Express and costco will officially end on monday. Weve got new details on how American Express is looking to address the losses. What citigroup and visa are planning next. Lets start with the concerns over next weeks uk vote whether to leave the European Union. Will fred front is about to head over to london for coverage of that big event. Before you leave, though, will, give us the latest. Thanks very much. Campaigning on both sides of the Brexit Debate was postponed today following that Fatal Shooting of labor party, a member of parliament, jo
The hang sentence by 0. 75 . And hang seng slightly weaker. Right now, things are flat, relatively flat across the board. Youre looking at the dax, barely budged. The cac is slightly higher, wti was up for the second day in a row weve seen a gain of 7 over the last couple of sessions. Going back to 48. 96. These currency traders better know what theyre doing. That better indicate theyre going to stay. They better know what theyre doing. Right. But still, the polls are pretty even still. Betting markets they bet that it breaks first day. When People Get Ready to do it, they think, oh, my god, what am i they get too nervous. They say theyre going to be leaving and they dont. Obviously, the pound is hitting at 1. 47 this morning. George soros, the financier who has made a ton of money the last time it collapsed. His warning you could see the pound go to almost 30 if there is a brexit vote. Lets go to wilfred who is watching what is said on all of this, wilfred frost joins us right now fro
Points and the s p, moving the monitor so i cant see it. Up threequarters of a point. And the nasdaq is lower by 31 points. Where are we headed to from here . Lets get to bob pisani on the floor of the new york stock exchange. Bob . Hello, michelle. Were flat because ibm has been a drag and tech has been a drag and the question is can we hit new highs and the key, remember, may be earnings. Markets have moved up. They have been a floor under the market and the market believes that, off the low and china hasnt gone away and its been a lot quieter. Earnings have been the big problem and the missing ingredient. Weve had four consecutive quarters of negative Earnings Growth right now and q2, the one that were in now that everyone is talking about, only down about 3 and its been stable in the last week or so. Not reducing the numbers anymore. We could go positive meaning that ends. Johnson johnson and Philip Morris raised their guidance on the weaker dollar helping how the. This week its go