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Seat back seat rally where all the wrong stuff the minerals the oil complex, led the market beautifully . With the dow climbing 369 points, the biggest twoday gain since december, 2008. S p pole vaulting. Nasdaq rocketing 2. 5 . Arent we supposed to want to roll costs down and down and down some more . Not up huge as they were today . I know its tough to explain how oil is spiking, almost 10 the biggest oneday move in six years. It will be a positive. Today it was certainly hailed by investors as a big one. Lets go there, though. Because its what happened today and it was a very important day because it was a stress reliever. A stress reliever, for many of the biggest investors of capital all around the globe. Let me set the scene up for you. The proximate cause of the nasty selloff we traveled through the weakness in chosen, it was exacerbated into belief until yesterday that the fed seemed unaware and how frail the worlds economy had come. But yesterdays comments from new york fed pr ....
Jeff bezos is within spitting distance of becoming the richest person in the world. The dow is down by about 20 points below fair value after six sessions in a row of gains. The nasdaq is down by 2. 5. Overnight in asia, well see that the nikkei was down by 0. 6 . Hang seng was flat. As was the shanghai. In europe and early trading this morning, as things get started, most of the markets are weaker. The dax is down by almost a half percent. Cac down by three quarters of a percent. Ftse up by 0. 1 . Markets in italy and spain are weaker. Crude prices are higher after dropping by 5 in yesterdays trading session. Analysts say that extension of opecs production cuts where they agreed to make the extension was already priced in the market was looking for cuts to last longer than nine months or deeper cuts. Neither of those things happened. This morning wti back up by 25 cents. It is below 50 a barrel. A couple big stories were watching. Jim bullard speaking in tokyo overnight and said the p ....
Good friday morning. Welcome to squawk alley. Im Carl Quintanilla dow is at 44 the Trump Administration gearing up for a major push on tax reform as you probably know. Chief economic adviser gary cohn giving a wide ranging interview to the Financial Times saying the president will start being on the road making major reasons to justify the reform. U. S. Managing editor for the Financial Times is here. Good to have you with us great to be here. A lot to unpack in this interview. Im curious to know what you consider to be the lead at this moment two keys. One key is obviously grabbing a lot of attention in the american political world is the fact that gary cohn has made it very clear that he disapproves of what the president said about the bill. Hes wrestled ....
Plus texas bracing for Hurricane Harvey the strongest hurricane to hit the u. S. In more than a decade. The ecommerce giant said to slash prices in whole foods as soon as monday investors though will focus their attention on jackson hole wyoming and the Kansas City Fed symposium. Yellen will speak in about an hour from now while draghi will address the gathderring this afternoon. 3 00 p. M. Eastern time powell is somewhere in there around 220 but the conference title is about synchronized Global Growth which some argue is a different, will mean jackson hole will be different this year. It seems different. Theyre trying to drain the drama out of it whether they suck said in that or not i dont know. It became something never intended but it finds the markets in an interesting position of being overly comfortable with wha ....
Lag last years reports. What that means for the markets. Softbank buying arm holdings for 32 billion in cash. Well give you the details, some insight and context on this massive deal. Republican National Convention kicks off in cleveland. Whats on the agenda and what surprises could be in store . But first up futures on the rise to kick off the week. The dow and s p near alltime highs. Markets largely shrugging off the attempted coup in turkey and on a busy week of earnings, b of a beating on the bottom line, 36 cents versus estimates of 33. Deposits up 5. 8. Some of the metrics not matching those of its peers, jim. But still, this is a grind out quarter. Return on equity, getting double digit. What i liked best about it, really, this is kind of interesting, this is a company thats well ahead in mobile and you have an amazing decline in branches from 6,000 to 4600. Yeah. And that is because people are rapidly adopting mobile. ....