In europe things are in the red. The dax and cac are down 0. 6 . The ftse off by 0. 8 . Knitly, sto ly in italy, stocks are down about a percent. Right now the dollar is up against the euro which is trading at 1. 0874. Down against the yen. And crude oil has been weakening even as the dollar had been struggling with issues. Wpi down abo wti down by 1. 43 . Have we shown the tenyear . No. I would show the tenyear. 2. 40. I will do a story in a second talking about fed speak again. Who cares about the fed anymore, theyre irrelevant, not at 2. 40. 2. 40. We were on our way again. We were on our way again theoretically to 2. 60, 2. 70, 3 . What does that say . Does that say 1 gdp number in the First Quarter stays at 1 . None of these things in the trump agenda come on time . Or big as expected . Are they delayed . Does trump care lite mean tax reform light . Or do we even get the taxes . So these ive never been in congress, i never will be. But theres a lot of kabuki dance. I understand th
Saying that it didnt expect the fed to tighten. You could see it, it rallied in the brief oneweek period where it seemed like maybe theyd tighten and raise expectations to 40 . After that crummy unemployment number gold rallied again saying theyre not. Today is interesting to me because its rallying along with the safe havens. I dont think its telling us this is any global panic. What it is telling us it not ohm fits in with the weak dollar trade it also fits in with the safe haven trade. Ive been on this all year and pretty harrowing times for a while but i like it now. This is jim says jack a kind of riskoff trade not an inflation protection trade. There aint no inflation out there. How do you see gold . What is it telling you . Tyler, there say big, red flag with whats going on in gold and people need to heed that warning. Its telling you theres been a loss of confidence in central banks. It really started a few months ago and its been creeping and one of the reasons why especially
In total swing. Brexit . What brexit . Check on the other indices, the s p 500 at this hour also in positive territory, the nasdaq as well. Well see those in a second. See the dow is higher by 29 points, 17,959. Once again were talking about 18,000. The s p above 2100, again, a gain of four points. Lets move onto whats going on with yeelgds which have just been breathtaking in their declines. And the 10year yield still below 1. 5 at this hour. 1. 45 . The twoyear yield at 0. 597 and gold higher by another 18 today, 1338. Show you the dollar versus the pound, which we have been so fixated on. Remember if brexit was going to happen supposedly we were told the pound would fall to 1. 30. Actually, never got there. There you see the pound right now is at 1. 32, almost 1. 33. The euro will cost you 1. 11. Brian. Lets now get to somebody whos been right in the thick of the wild ride that tyler laid out. Bob pisani, all right, bob, give us an update on todays trade but also talk about how wild
Announcement on saturday that he would be the v. P. On Donald Trumps ticket. Huge chaos yesterday on the floor in the Late Afternoon when those who were trying to stop donald trump from being the gop nominee tried to get a vote on the floor. It was chaos. This was going to be the moment, i want you to look at the woman in the blue to the right there in the corner. Shes coming up right now. She is the colorado delegate who serves on the Republican Convention rules committee, cofounder of the never trump delegates, the unbound soup r pac, the group failed in its change the party rules to unbind delegates who could vote their conscience and then you thought hopefully maybe trump wouldnt get on there, did we get that right . That was the goal of free the delegates. The Unbound Movement was making sure that the delegates remained unbound forever. In perpetuity we want delegates to do their job and that is vote confidence. It was more than that in the coalition of people that came together b
Thats what investors seem to be saying as there was no fear of the fed, at least not today. Some of the pros on wall street said the market was reassessing whether the Federal Reserve will raise Interest Rates as early as next month. As a result, stocks closed higher with financials leading the way. The Dow Jones Industrial average rose 107 points to 18,502. The nasdaq climbed 13, and the s p 500 added 11. This bull market is more than seven years old and with stocks flirting with record levels, there is always a camp concerned with the pullback and naturally the bull carved thinking this is just getting. Mike santoli has a look into when the market is anything less. With stocks near record highs and bonds holding up well, is there anything more in coming years . On the surface, it might seem stocks are due for a pause since february thats capped off a fine fiveyear run. The late summer of 2011, the european debt crisis sent stocks reeling, the Standard Poors has learned ab average of