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Some of the averages with the dow and s p are a little bit lower. The nasdaq is higher. Nxp semiconductors is pushing tech stocks a little higher today. I want to focus on some of the weighing downe some of the major averages. Im going to start with merck off almost 2 . Federal judge tossed out the verdict that merck had previously won. Merck is a little bit lower. Walmart and Procter Gamble are all. Off. Dragging down all of the staples including Procter Gamble. I want to take a step back and look at the broader macro picture by looking at the dollar. Were having the first threeday rally so far this year. Doesnt sound like much, but for a year that i see no weaker up threedayout 9 , so far this year isnt a terribly bad story. You would not expect the dollar to appreciate, but we have a lot about rates rising. Focusing on the treasury auction 6039. Es g btv the twoyear bond d ....
Of the month. That being about 80. We are moving higher. You see this morning. Our road map starts with what you might expect. These markets are surging overnight on central bank action. China unexpectedly cutting Interest Rates. Mario draghi promises more aggressive stimulus in europe. It is a big morning for dan loeb. Dow chemical and third point reached an agreement. Management changes at hertz and sothebys which loeb is on the board of also expecting to change their ceo soon. On the earnings front, gap cuts its profit forecast. That stock is moving lower. And the president announces executive action on immigration. There are vast economic consequences. House Speaker John Boehner will respond in a few minutes. Want to start off welcoming back my friend. My dear friend. Thank you. Thank you for being back. Your dad wants you back at work. Bop loved you. You know that. ....