Release. More on fight for freedom. At 8 00 a. M. Congressman devin nunes and we will go inside of the investigations of the origins of the russia probe and find out what the House Intel Committee is doing and who could be held legally responsible. At 8 30 a. M. Eastern. Senator rand paul on stimulus battle and concerns about our rising debt. This morning markets are trading mixed. Take a look at futures right now indicating a decline at the start of trading, nasdaq futures down 7 and s p down 3 and a half. This after a big rally yesterday. U. S. Markets rallied strong with the s p 500 closing at 6 points away from a fresh record high. Dow industrials up 289 points at 4 00 oclock on wall street. Mornings with maria is live right now. Maria Global Markets are negative. Red across the board in europe. Cac quarante in paris down 7 and dax index in germany lower by 26. The u. S. Announcing it is keeping tariffs on 7 and a half billion of european and uk products. All that coming up this mo
From its previous record high close on february 19th february 19th, that seems like so long ago. What a different world that was back then. We want to fire up the fast money time machine for a trip back there to february 19th. Look at that, our traders there on set all together at the Nasdaq Market site that was fun you might be thinking to yours this is some oldtimey footage of people dining together at a restaurant that was february 19th theyre all sitting inside a restaurant can you imagine that they can out the theater goers waiting to see a broadway show while were at it, there was also an nbc news democratic debate in nevada that night. Take a look at that. Hi, bloomberg, hey mayor pete. Theyre hugging, shaking hands, so much closeness. Anyway, the entire world has clearly changed since february 19th but the stock market is back to where it was guy, whats your take on this record comeback . Well, what you didnt tell the audience is you also were playing the piano for this little
Is tech in trouble, have the stocks gotten too expensive . Do we need to worry about what happens with the group if President Trump cant find Common Ground with president xi and with the market at lofty levels, the s p back slid and the nasdaq gained 2. 4 its something that Money Managers will talking about it was cleverly titled changes and the big takeaway was it was time to lighten up on my Favorite Group which is technology their thesis theyre worried about it shifting to the tech war, American Companies only buying from nonchinese suppliers and you have the strong dollar to worry about with tech rallying you have a crowd of weak headed investors who head for the hills at the first sign of trouble. We heard some discouraging things in technology look, just last week, cisco it gave a downbeat forecast for the reasons that bank of america and merrill cited. Even though it represents a good balance sheet, some okay growth, investors are soured on it especially some of the big guys bec
Want to call it that. Ten year note, man getting closer and closer as well. To the shorter term, in terms of the spread there. As you see, were at 2. 2. Crude is down after what had been a little bit of a rally of late. You can see also as well brent cruise down. Lets get to the big road map. It does start with the trump slump. As you just saw futures are pointing to another lower open and investors are wondering about new political turmoil. What it will mean for the gops pro growth agenda. Plus, the president takes to twitter calling the fbi and congressional russia probes quote, the greatest witch hunt of a politician in american history. Cisco, it warns, shares fall. Company announces a weak outlook and about 1,100 job cuts. Ceo Chuck Robbins will be with us in ten minutes from now. Well talk to him about that. And including perhaps what was less spending than they had anticipated from the fed. A lot of problems there. Yeah. We have a lot to get to. Futures of course lower in a day
Coming out of europe. Right now the markets are relatively flat. Dax is flat. The cac is essentially flat. The ftse down by half a percent. The currency markets, which are going to key off this as well, if there is additional stimulus, it could very well weaken the euro and strengthen the dollar. Right now the dollar is up against the euro at 1. 0978. Dollar versus the yen is at 113. 46. Lets tell you about other storying were watching this morning. Square posting better than expected results in its first Quarterly Results since going public. Square Ceo Jack Dorsey sitting down on closing bell, responding to investors betting against the company. I think we need to constantly show that were focused on the right things. Were focused on building great tools for sellers and that they value them. We continue to see that growth. I think were not only a first mover in a lot of areas, an innovator in a lot of areas, but also we have the best experience. We certainly compete with a lot, but wh