Leadership meeting in brussels which is still under way. We are going to take you live for all that. So many concerns yet seeing this rally. If we stay at these levels will probably be the biggest singleday reverse ideal in four years. Economist Thomas Piketty has a message for Angela Merkel. He says history will remember you for your actions this week. Hell join us live in a few minutes to explain why he believes not helping greece would be hypocritical. The big banks unveiled their living wills. These are the plans how they would handle bankruptcy during a crisis thats mandated by dodd frank. Dick bove will join us to tell us why he believes these wills are a negative for the u. S. Economy and calls it a dumb idea by the government. Another positive fitbit rating. Well talk to the analyst behind that call whether the company has already gone too far, too fast. Im not making fun of his name, but what is the analysts name . Will power. I love that. The fitbit analyst name is will power
Theyre about to make a big bet on all Day Breakfast. Will this be the move that finally turns things around for the fast food giant . Or is it just too little too late . We have both sides of yet another heated debate on mcdonalds. Everybody, you either love it or hate it right now. Nobody is lukewarm on mcdonalds these days. A lot of people like breakfast for dinner. We will see. That big selloff in commodities. Keeping an eye on that for you. Gold seeing the longest losing streak since back in 1996. Well discuss whether the strong dollar and the commodity drop could actually delay a fed rate hike. Oil just closing below 50 a barrel. Well start, though first with the tech sector. Getting hit the hardest today after apple and others reported disappointing Quarterly Results yesterday. Apple and microsoft are the bottom performers on the dow. Yeah we had those two plus go pro and yahoo. Theyre all down today. And go pro now has turned positive. It got slammed hard initially after reporte
Ugly off 8 1 2 . Is the selling fully chinarelated here in the u. S. Or ocould there be something else, something bigger and deeper perhaps, guy . Lets start with you. Tim talking about china, i think it has a lot to do with china. When the markets down 8 on top of the moves weve seen over the last couple of months it has to have something to do with that but i also think its somewhat technical in nature. I think earnings have a lot to do with it. I think earnings have been okay but i think the chasm between eps and revenue continues to grow. I think technically the markets done everything right until last week when we traded back up, tested you willtime highs, seemingly failed, had an outside week in the s p without getting too wonky, now were going to test again those lows we saw last week or so, 2042. If it holds there, off to the races. If it fails we have to have another conversation quickly. The russell, the iwm, 121 has been the level, closed lower today for the first time in a
Continue to hide out in stocks . Brian kelly, what do you make of this . Well, whats happened over the last month or actually couple of months here is youve seen a tremendous amount of volatility in the commodity space, in foreign currency and hasnt translated into the u. S. Equity market. I do think ultimately when you see oil going down like this and the intraday reversal today in the dollar to me is notable because that shows theres the big carry trade thats being unwind as commodities come down. Ultimately that will hurt u. S. Stocks. We have seen elevated levels, though, of volatility in the oil markets and the currency markets for quite some time and the markets are still very close to record highs. Granted theyve had their ups and downs but still right now close to record highs. What happened to that theory that eventually that volatility will creep in . Hasnt yet. Not yet. I mean, we had the vix hover around 12 again. Its pretty unbelievable the s p is still at these levels. It
Its up another half a percent. Well get disneys earnings after the bell today. Apple is thought of as sort of the lead dog. Its the Largest Company out there. I think disney is the company to watch these days. What a performance it has turned in. Meanwhile, aetna out with earnings this morning. Its getting a big boost from medicare and medicaid these days. We have a first on cnbc interview with ceo mark bert bertolini. Breathtaking consolidation in that industry. Really looking forward to that. Also rock star and actor Rick Springfield is joining us at the New York Stock Exchange. Well talk about his latest film with meryl streep and what he thinks about taylor swifts harsh words for spotify. Ring springfield has sold 25 million albums in his career. Thats a lot of potatoes. Im sure he has some comments about streaming these days and whether or not that is a way for a musician to want to get paid whether the compensation is enough. Taylor swift says its not. As soon as you said he had