Evolve, and heres how policy evolved should occur, but you have to maintain this ready position. Teslas stock hitting a reverse, losing around 30 billion in market value. This is after deliveries declined for the first time in nearly four years. Disney reports it secures enough votes to defeat nelson peltz. Its set to meet with the gm later today. And the swiss re ceo will hands over the reigns later aspergeas b b b berger is sets to take over in july. Lets start with the big board and show you whats going on with the european markets. Lets bring up the board. Weve got the ftse 100 down at a downside of half a percent and the ibex in spain. The citi sitting there as well as switzerland. The u. S. Futures saw quite the soggy day with the dow posting their worst day since the 5th of ma march. Also backtoback losses. You can probably point to whats happening with yields as the culprit here with the 10year hitting the highest since november. Weve got more data coming out overnight in the f
The transports to record highs again today. Plus the grocery wars are heating up again. This time walmart is making a newing a b decision to go after amaz amazon very interesting a lot of people in new york city are very excited about it. Well explain coming up in a little bit. Good for brooklyn. We start with our top story right now, executives from two scandalridden companies have been meeting facetoface with lawmakers on capitol hill today. Cnbc cnbcs wilfred frost has the highlights of the wells fargo hearing, about millions of unauthorized accounts opened by that company and aditi roy has the latest on the exequifaxs ceo, the attack that compromised the data after more than 145 million milliamericans. Aditi, start us off. Reporter former equifax ceo Richard Smith was grilled for close to three hours by about two dozen lawmakers. As he headed out of the hearing, i asked him about the breach he remained tight lipped eped a walked past our cameras. Gave an eight page remark before he
Both up this morning crude oil, it is still hanging in there right below that 50 mark, of course and theres brent crude as well. Lets get to the road map. It does start with that market coming off a record breaking rally. The question of course, will it continue and big changes at ge the new ceo making his mark on the company as a new investor joins the board. A nail in the could have infor tax reform a top gop senator warns that President Trump threatens world war iii. The markets looking to continue its record run with the dow and s p in the midst of a fourweek winning streak but Technology Closing on friday at the new record high. Bar beingiring a large selloffe trump dow rally ochb track to surpass the 23. 3 gain posted in the year following the election of George Herbert walker bush. One would imagine we will hear tweets or get tweets about that the minute it happens. It is a major accomplishment and were coming off another week where all three major averages closed up a percent a
Dont even bother to ask questions later because theyve gotten things so wrong. This market is littered with those kinds of mistakes, including today. Nasdaq gained. 38 . When i first got into this business there wasnt a rush for reporters to report the consensus estimates created by wall street analysts. These days they see if the sales and earnings are better or worse than expected. Once theyve compared and contrasted, they pull some reason, some folderol from the release, to explain it, then boom, rapid fire posting, dont look back, on to the next company. We see this sort of thing this years. This week, there was four of them that were like this this year. It creates such a rush to judgment with so little time to breathe hthat people end up losing fortunes, trading off these slipshod bulletins that purport to say what really happened in the quarter, like you could really figure it out in 140 characters. Hasbro reported today. The vast majority of these Companies Said it was a good b
Purport to say what really happened in the quarter, like you could really figure it out in 140 characters. Hasbro reported today. The vast majority of these Companies Said it was a good buy. It keeps churning out hit after hit, and it capitalizes off of hit movies. Despite those headlines hasbro opened pretty much unchanged. Shouldnt it have opened big . No, it turns out, because when the Company Conducted its Conference Call, we learned things are not going all that we will at hasbro. At cfo deb thomas told you after flowery discussion, and a quote, owth in preschool categories decline in game and girls categories, end quote. Whats that mean . You keep listen and old franchises like monopoly and other timehonored hits were more than offset by declines in a number of brands like my little pony. Ouch a number of brands . More than offset . Thats real suboptimal language. How weak were the good friends that they could be overwhelmed by the bad ones . Lots of people bought hasbro because