New data and uncertainty over tomorrows opec meeting. Well be leave in vienna with the latest porsche is unveiling a new model today. Ceo will be joining us in a first on cnbc interview coming up but while the dow and s p started off the session with alltime highs yet again, the nasdaq has been falling all day and Companies Like netflix, apple, amazon, theyre seeing big declines bertha combs has the news. So are the big tech cap stocks, investors calling it the great rotation today theyre taking profits on names that have run up so fast look at autodesk thats a case in point today, trading at alltime highs yesterday, tumbling on an earnings missed also announcing a 13 work force layoff, thats sending some jitters as well in tech. The biggest source of pain though overall is the sector now the Semiconductor Index has been leading the charge to alltime highs here at the nasdaq the index closing at a record high led by micron and invidia, both doubled this year invidia today seeing a chal
Happening over the venetian bridge. Our pete suratos is standing by for a News Conference at the center there. What did you find out. Reporter they tell us theres going to be a News Conference at about 11 45 a. M. It could be a combination of police as well as other city officials speaking at that News Conference. I want to go and show you guys a live look right now. You can see it on the screen of the situation right now at the valero refinery. You can see the flames coming out of the stacks. When we were crossing the cartinas bridge earlier we could see the black smoke. The flares are a result of a power outage at the refinery just before 7 00 a. M. Were learning that pg e says it happened during what they call a routine switching but that power was restored shortly after. Now, as you mentioned, some places are still being asked to shelter in place such as Matthew Turner and Roberts Temple Elementary School and folks at the nearby Industrial Park were also notified to evacuate. Now,
Futures. The dow and s p are indicated higher. Nasdaq is lower by about 4. 5 . Alphabet. Alphabet and google. Ubs reporting a drop in Fourth Quarter net profit but results beating forecasts thanks to a better than expected showing in the equity business. The bank is pointing to improving Investor Confidence in the u. S. At the end of 2016. Speaking to cnbc earlier today, Ceo Sergio Ermotti says that could be a sign clients are ready to ged ot off the sidelin. We are realistic because we have data points pointing at clients and investors being more optimists and ready to be constructive about the situation. They are really looking for concrete actions by the new administration in the u. S. He said there could be mom t momentous changes for the Financial Sector if there is a hard brexit. Today we get results from chevron, honeywell, american airlines, General Dynamics and abbvie. And key Economic Data as well. A first read on Fourth Quarter gdp at read on Fourth Quarter gdp at 8 30, dura
Retail sector is still under pressure. Pandora shares on the rise after activist Investment Firm calling for pandora to consider a sale. Stocks poised to open lower following mondays rally. Futures up 0. 4 as gasoline, medical care and food prices up. April Housing Starts up 6. 6. Well above expectations on a 3. 7 gain. Economy doesnt look too bad this morning, jim. No. A lot of that increase in cpi is gasoline has come up. Thats something that the market likes, which is the craziness of this market. Remember we go to 48 for oil yesterday, and we have an explosion. All the stocks of the companies that do poorly when oil goes higher, but thats all right because oil is meant to be a barometer. We keep telling ourselves that. At a certain point its not a barometer. At a certain point its back to the inflation rate. But at the same time i dont see a lot of strength. I just see a lot of no volume, algorithmic moves in the stock market. Yesterday was one of the worst examples of it because t
Court justices Clarence Thomas and Ruth Bader Ginsburg delivered tribute to their colleague justice Antonin Scalia. That Memorial Service coming up next on cspan2. Then february by director james comey and apples bruce sewell testified about the government request to have apple unlock one encrypted iphones used by one of San Bernardino shooters in the attack last december. Supreme Court Justice Antonin Scalia was honored at Memorial Service by his colleagues, justices Ruth Bader Ginsburg and Clarence Thomas. Justice scalia appointed to high court by president Ronald Reagan in 1986, died at a texas ranch on february 13th. His service was held in washington at the mayflower hotel. Good afternoon, welcome. Thank you all for coming to this memorial for my father, Justice Scalia. Our family is on in order, actually were touched to be joined this afternoon by the chief justice of the United States, and all of my fathers former colleagues from the court as well as many other distinguished gue