Recordbreaking day for the stock market we cross one more millennial, have more to go . The president is talking about 30,000 who knows where were going. The important thing is to note how broad the rally is, not just tech stocks, in fact, theyre not necessarily the most important part of the rally. Lets look at the sectors moving financials is been big Interest Rates have been moving up materials, thats a rally thats continuing to ratchet. Energy strong with oil over 60. Even Consumer Staples are leading. You know whats not doing anything anything thats Interest Rate intensetive. Real estate, investment trusts, utilities lagging for a long, long time. Of course, those are bond proxies. A lot of new highs in financials as the higher Interest Rate scenario is helping the banks out. This is a small spattering i could go through American Express, etrade, key corp, suntrust, all sorts of banks all the Major Money Center Banks as well as the super regionals at 52week highs a cyclical rally,
Statement he made midday today which well talk about. Meantime, how about stocks. The s p could see its third 1 gain this year just in that territory right now. Just under well tell you whats behind the move higher and see whether we can hold the gains were drifting down a little bit in the final hour here. And this should be very interesting. After the bell, james damore, the engineer fired from google because of his internal memo on diversity. Hell be talking to kelly oneonone to give his side of the story. Looking forward to that an hour from now. He hasnt been shy about it so far. Right. Let begin at the white house where President Trump is about to address chinas trade practices. Onlion javers eamon javers is standing by. Reporter should see that live on camera in a couple of moments. The president will sign a document which directs the u. S. Trade representative to determine whether or not to investigate any china laws or policies that may be unreasonable or discriminatory relate
Chicken soup. President elect trump making his big administration nominations and announcing his picks for National Security adviser, attorney general nca director today. We have all the details. Meanwhile, stocks are giving back their early gains today, but its been quite a week for the bulls with stock inflow levels not seen in nearly two years. Well discuss whether the record trump rally has come too far too fast. Trump has promised to roll back regulations but would that eliminate rules . We begin with the president elects new leadership appointments. John harwood has the very latest. Kelly, weve got some action today on the transition front. Three hardline appointments by president elect donald trump. First of all, Jeff Sessions, the senator from alabama, to be the attorney general of the united states. Jeff sessions is someone who was his views on race were too controversial. He was blocked a judge in the 1980s. Hes a staunch foe of legal and tangled with Big Tech Companies over
As you can tell, there is a ton to do. First, lets start with the markets and what looks like a bit bit of pause in the trump rally. All three major indexes fell and closed in the red. Not down much, but still down. This is the dollar soars to its highest level in 13 years and the bond bloodbath continues. Yields continuing to climb. Get this. Just since the election, financials up double digits. Industrials up 5 . Only Consumer Staples and utilities have lagged. Nearly Everything Else is up. But gentlemen, my question to you is a basic one. Tim seymour, have we come too far, too fast . Before the election, when people were nervous about the election, we were talking about stocks and we talked about on the desk, the impact for multinationals. Youre out of place if you think about where we have come this week. Xlf, transports, all flat to down slightly. So at some point, people have started to weigh the reality of how much, how fast were coming to some realization that maybe tax reform
1. 6 level. And the headlines are on your screen. Our road man begins with a slew of estimates beating goldman and j and j. Netflix, subscriber numbers come up short, stock down 13 in the premarket. And the latest out of the gop convention, over plaguerism and what to expect today. First up though as stocks aim for more record highs, we have four dow components, j and j, ask gold m and goldman. Despite the uncertainty created by brexit, we achieved solid results by continuing to serve our clients across our diversified franchise and managing our business efficiently. One thing weatility is an environment they can operate in. We had very good quarters at bank of america, jpmorgan, sp spectacul spectacular, and city, really good quarter. Goldman, we found out fixedincome trading bank of america had good fixedincome trading. Tell me something i dont know. Goldman doesnt have any equity business to speak of in terms of ipos. It suffers by comparison to a bunch of other companies i did not