Certain tariffs. Not just a trade deal, but actually removing some of the economi existing tariffs earnings continue to lead us higher just a bit. We have names like kroger and tapestry, the old coach beating expectations joining us for the entire hour is a man you know well, steven weiss from Short Hills Capital partners steven, good to see you down here at the New York Stock Exchange good to see you brian good to see us both heres the thing, earnings, trade, maybe just general positive market sentiment. One of those three or maybe something else, that has been the primary driver for what has been a nice little run we are up nine of the past eleven sessions on the s p 500 i think there are multiple drivers to the market. Trade being the most important and the most dominant. You can see the correlation. For those who say that trade is all in the market, thats clearly not true because when you get positive news coming out, the market ticks up when you get negative news, it goes down. So
To the lowest level we have seen in several years. They hinted at more cuts in the future. The treasury selloff is the big story of the day, hitting the long end of the curve drastically. We are seeing much more stark moves in the 10 year and 30 year yields, at the highest levels since november and fluctuating throughout the day. Eight basis point move on the 10 year yield and 30 year at about 4. 28. Earlier today, we asked george come call this about the movement and this is what he had to say goncalvas. It could be swinging from japan to the u. S. , it is sensitive for all parts of the yield curve. We are experiencing a wrecking ball from supply concerns to concerns around buying could slow down and all of that is rates have been staying under fed funds for a long time, that has been the saving grace. Sonali a wrecking ball in treasury markets, we have liz mccormick. When you look at the delusion of issuance paired with the downgrade the u. S. Is seeing, what is the Ripple Effect mar
Column. Your trading looks like this. Next story of two thirds of a percent. Dax also higher but the cac fractionally lower. Asia overnight close higher across the board with the best performer in hong kong. Hang seng index better than 1 . Shanghai in china better than 1 . Evacuations underway in california. Deadly wildfire putting in size over the weekend. Now the fifthlargest in the state history. Governor jerry brown warning the devastation could start. We are facing a new reality in the state were fires threaten peoples lives, property, neighborhood and of course billions and billions of dollars. We have to have the resources to combat the fire. More coming up as they gain any ground. A race to the finish in alabama ahead of the senate race tomorrow. Voters are prepared to head to the polls as Democrat Doug Jones makes a final push. We break down where things stand right now 24 hours ahead of debates. Closer and closer, President Trump with the work lawmakers have done in their que
Martin gilbert will join us exclusively to discuss the deal and why it came about. Affirmed theg impeachment of south koreas president. Will markets remain resilient question mark elections have now been triggered and civil unrest is on the rise. Matt . An hourss than half until the cash open and take a look at futures. , were lookingse at gains in futures europe as well. Fairly significant. Probably more interesting this morning is the fixed income trade. Bunds. The bones 0. 44 on the bund and by the way, just two weeks ago, it was well under half that in 0. 186. Boones have more than doubled bunds have doubled. Guy lets talk about the gmm this morning. For what isashboard going on in financial markets. I want to highlight what is happening what is happening with the nikkei. This good lack idea that Japanese Equities are looking cheap seems to be gaining traction. The japanese nikkei is responding to what is happening to the yen, down 4 10 of 1 . The euro continues to gain a little bi
As we first reported on power lunch yesterday, the engineer pioneer died in a car crash in oklahoma yesterday, less than 24 hours after he was indicted on charges of conspireing to rig the price of oil and gas leases. Reuters now reporting the private equity fund emg halted new deals with mcclendon just before his death. Bethany mcclean is a contributing editor at vanity fair and cnbc contributor. We knew aubrey was scheduled to be in court later on that day. And now this. What have you found . Well, this is clearly a guy who was under siege from a lot of quarters and im connecting multiple dots, but you have obviously the indictment by the u. S. Government, and having the weight of the u. S. Government brute force come down on you is not an easy thing to live with. Thats been an investigation ongoing for the last four years. He was clearly starting to have a lot of trouble raising money and keeping his empire together. He tried to raise 2 billion in an ipo for American Energy partners