Power lunch starts right now welcome to power lunch. Im michelle carusocabrera. As you can see, negative territory by more than 100 points nasdaq is still in positive territory by higher than 3. 5 points melissa mentioned ge and boeing. You can see ge by off by 2 and boeing off by 2. 5 bitcoin, though, is bouncing back following a few wild days you can see its higher by nearly 6 along with other movers alcoa is down 8 on its earnings you can see it is off by 5 bucks. Brian . Thanks, michelle. Heres what else is happening the race for Amazon Headquarters and the money behind it is heating up there are a number of surprises. Did your city make the cut well have that list ahead speaking of heating up, according to the United Nations last year was one of the warmest records on planet. Some things are cooling off. Dropping sharply especially in the northeast. Melissa . We begin with todays market drop the dow is down triple digits. Bob pisani is watching all of the markets. Hi, bob. Theres
Where theres you know, theyre used to a lot of cold weather. Theres a lot of soul searching going on inside the ioc. We have curling we have curling i watched that in person. It was very tense really tense once it was the eighth frame, they went up five points you sort of knew what was going on we had a guy sitting next to us doing his own play by play which helped in terms of some of the rules. Did you edit the Cross Country tape were you okay on this . I didnt fall so its like downhill kind of did you go up any hills its more like ice skating. All right welcome back. Lets check the markets after yesterdays 400point rally for the dow. The blue chips are up 10 since the lows of february 9th the nasdaq up more, its recovered all of its losses. Nasdaq 1 from its high that it hit back on january 29th the dow is still off by 3. 5 from the january 26th highs. Look at whats been happening this morning in the u. S. Equity futures. At this point, you can see where we are the nasdaq off by 1 th
U uncertainty of a number of saudi princes and ministers were arrested over the weekend on corruption charges and of course as you probably have heard by now, that includes prince al waleed bin talal well look at what this means for u. S. Companies looking to do business in saudi arabia we havent even gotten to the Qualcomm Broadcom story but theres other things to get to now. We have the breaking news now that disney has held talks to buy most of 21st century fox. David faber back again anything new on this is. We can advance the story a little bit and refresh it for people, guys 21st century fox, as bill just said, has been holding talks to sell most of the company to walt disney leaving behind a Media Company that would be tightly focused on news and sports according to people familiar with the situation these talks have taken place over the last few weeks and given their complexity, it continues to be seen as a tough deal to get done by those whove been working on it the two sides
Tiles. The total number of the record for all time, 77, 1995 i thought you were going to say the total number of trading days we still dont have that no. But i was trying to think about it i think theres 53 days left which probably work out to 44 trading days for the rest of this year. I did the rough numbers yesterday 25 . Look, there were 220 i mean, there were 222 or something weekdays i dont know how many of those days were closed or trading sessions thats good enough. So its Something Like 25 25 of the time youve still got another potential up to 40 trading sessions left. Let the good times roll thats the bottom line yes bottom wlien is, we have seen a lot of record closer its not just here in the United States joef night in asia, green arrows across the board with the nikkei up by almost 1. 75 another 389 points added to the nikkei once again to a nearly 6year high jump just visits the area and this is the kind of stuff that happens. The hang seng up by 1. 4 . The shanghai up by.
Party lets get to it. Despite the fed rate hike and talk of deregulation financials were down about 1 . Morgan stanley, goldman sachs, bank of america saw red. Is this the beginning of a Bank Breakdown . Lets get in the money right now. Im going to piggy back something off fast money earlier in the week, carter worth had this Tour De Force about the relative performance of bank stocks versus the broad market and it got me thinking and jeffrey gundlach, a big fan too. Total shoutout there. Total shoutout. Heres the thing. This group has paused. We obviously know the reasons why they ran up. Obviously the hope of deregulation and higher Interest Rates. Ill let mike talk about net interest. Ill let you talk about the relative performance. One of the issues i think is first and foremost, especially as the new administration is bogged down with obamacare, is the potential for doddfrank to really change meaningfully over the next few months, is not particularly great. I do think there may be