Regional bank bb mpdbb t kelly will join us. Toll brothers, shares down 8 , and some provisions in the tax bill that could make it tough going for the housing sector well explain. By the way, tomorrow lululemon reports earnings that stock has been up 25 over the last six months. Big comeback there we have a debate on whether that rally can power higher into year end. But we start with the breaking news out of washington today. Plenty of it, again. Kayla tausche has details fo kayla . Reporter bill, we learned nearly 40 House Republicans signed on to a letter drafted to be sent tomorrow to republican leadership, including the Senate Majority leader Mitch Mcconnell and Speaker Paul Ryan as well as senator orrin hatch and congressman kevin brady that requests the removal of this first in first out provision its a controversial proposal that has remained in the Senate Version of the tax plan that essentially requires investors to sell older stock first. It would raise about 2. 5 billion ov
Pretty common place these days and today was nodifferent. The only thing that was different was that the dow breakthrough a milestone. Hit iting and closing above 22,0 e time we mentioned last night, apples strong earnings likely propelled the index to a record csi numbers. The dow rose 52 points to 22,016. Most of the gain was thanks to a 5 rise in apple. Nasdaq was flat and s p 500 tacked on a point and with the dow above 22,000, it keeping in mind that this is is historically a bad month for stocks. But as bob pisani tells us, the hope is this time, theres a could we get an august swoon in august is beat a typically a lousy month for stocks. The second to worst month of the year. Its only been up five times in the last 20 years. Thats terrible. E hope is that any cross at taking at technology after apples strong numbers will clos to rotate to the forefront. Rotation centers rrnd two groups. Energy and financials. Is this going to work . Maybe. For oil stocks to get moving, we need o
Amc entertainment says a lack of summer block bust earls hurt the bottom line in the latest quarter. Well talk to adam aron in a first interview about that and his companys merger plans. They have a lot of mergers. Breath taking is the word he uses to describe this. Tesla reaching that deal to buy solar city. Well look at what it means for shareholders. Lets start, though, with oil. Big mover today going lower. Yak i can deangelis tracking the action for us at the nymex. Good afternoon to you, bill. We settled higher than 40. But we did get down to 39. 82 and shows the momentum is there. 40 is a key psychological and Technical Support of oil prices. Lets see why we rose and why were falling particularly so early in the season. The demand for summer driving gave us an uptick. We got up to the 50 range, the dollar supportive. Everything seemed fine. On the downside, why we fell is because we had a crude inventory glut that created a gasoline glut and profitable to create more product and