Higher by 0. 3 or greater. Look at the nasdaq. It has been a little more beatendown but today up more than 0. 5 . The best day from the nasdaq since november 30. Perhaps investors are feeling a little more certain around tax reform, d. C. Drama and more. One stock that is helping the indexes today we will be getting to in a moment. This seems to be a continuation of the trump trade. Here is this stock, General Electric is up nearly 0. 9 . This is after the Industrial Company announced they are cutting 12,000 jobs within their power unit. That is the biggest unit within their business, about 30 of the business. It is also the most troubled unit. The fact that they are flushing out the plan they gave back on november 13 to cut 1 billion in cost by cutting these jobs, investors seem to be cheering it to some degree thinking it is a solid first step in the turnaround plan. Shares on the year down more for theiron peak worst year since 2008. The industrial sector is the top on the day. Ge,
Dan what is next is that we have reported that mr. Renzi, according to one italian news agency, has already met with the italian president. He has to formally submit his resignation and then resolve this political crisis, turning it over to the italian president , who will hold probably two days of Political Consultations with the leaders partiess political before deciding on a mandate government for the country. David a lot of focus was on the italian banks and what this would mean for the italian banks. Do we have any sense of the answer to that question . There aretle bit, but still a lot of Unanswered Questions so far. , the worlds oldest bank is in the midst of a 5 billion euro Capital Raising plan. It has started the first leg of that. The board is probably meeting today. They are likely to put out a statement to find out what happens next. Are they going to proceed with this plan or perhaps postpone it, given that while markets are not as volatile as people expected today, who k
About 30 minutes into the trading day and Abigail Doolittle has the latest. About, globalked markets shaking off the effect of the italian referendum. Abigail we have big gains for the stocks in the usb at the dow, s p 500, and nasdaq are all higher. Offially there was a risk reaction, but really a declining reaction. ,f we go back to the brexit a big selloff, then a selloff and it reversed. The dow on pace for a record closing high. But the dow isng itsace for us fix for fifth week i. The s p 500 and the nasdaq are reversing last week losses. At 2041. Ok the shows the alltime record high. Two things, right here we have an area of consolidation. It appears the dow is breaking. Ut higher the dow transports, a less followed index, is actually also trading at an alltime record high. Would say that signals more strength ahead for stocks. Taking a look at Asset Classes, we are seeing a risk on picture here. We have the safe haven gold trading lower. Follows from that supply cut from opec la
He is expanding his search for secretary of state to names like jon huntsman and the exxon ceo. We are 30 minutes away from the end of the monday session. Check it out on the lefthand column. Equities fell earlier. Look at the gains for currency against the dollar. The euro earlier was down against the dollar to a 20 month low. These are bond yields. Falling. Es are we are looking ahead to next weeks federal and Market Committee rate decision. Investors penciling in a rate hike which isnt good for the a lower of the precious metal. 3. 4 higher today. Its a french Investment Firm exclusive in exclusive talks to buy a Global Asset Management unit. Business may be valued at 3. 5 billion euros. A purchase would propel it into the top ranks of global Money Managers with almost 1. 4 trillion in assets. Austriat to talk about over theustrians weekend elected a Green Party Economic professor as their next president. Spurning the appeal of an antiimmigrant nationalist who campaigned to weaken t
Cant trace of general liberals who may someday run the country. I grew up in mexico. Very briefly. Mexico was a horrible backward authoritarian place with his loser president s, and all of a sudden you get guys like fox and calderon, and where did they come from . They have a ph. D from the university of chicago. Thats how it happened. Find those 10 people, educate them and maybe some good will come 20 years down the road. You mentioned the justice component of a lot of these islamist parties. Theres an argument that can be made that this is a response to the corruption of these you sponsored regimes. I would say that in the case of gaza which you mentioned, rob, that was a very series component. Any thoughts how to combat that or includes this in the right direction . For the record im against corruption. [laughter] , good, good, good. Wanted to clear that up. Yes, look. It goes back to the point i thought it made in my remarks that islamists didnt win and nonislamists lost, whether t