Therapeutics losing a third of its value after the cholesterol drug caused side effects in a trial. All right. Todays action a signal maybe that the market is turning just a bit . Those seven big tech names that carried the market last year, theyre starting just a bit to fade. In fact, theyve been fading for some months in some cases. So should investors now look elsewhere . Are old names becoming cool again . Seema mody is looking at the newlook ge which has been a stealth outperformer. Good afternoon, tyler. Thats right. Its not often an industrial stock outperforms big tech, but thats what were seeing with general electric, which continues to defy critics. Now, over 80 in the past 12 months. Its highest level since 2017, outpacing the gains of a number of tech names like microsoft, amazon and the broader nasdaq. Wall street really crediting ceo for its bold restructuring moves including the latest bet, spinning off energy into a stand alone company vernova. He is excited about stayi
A new high earlier today for jpmorgan, holding its investor day today, Ceo Jamie Dimon says no buy backs at these levels and the stock didnt like that and said he was, quote, cautiously pessimistic about the state of the world right now. Well discuss coming up. It takes us to our talk of the tape, all that continues to rally and if its a sign that more gains are on the way. Welcome in pimcos erin brown. Nice to sea you on the east coast. Nice to see you as well. This everything rally pretty amazing. Does it continue i think it does as we heard from the First Quarter earnings season, strong earnings across the board. Whats important to keep in mind you see an inflection and broadening out not Just Technology leaning in terms of earnings recovery, but its broadening out to more sectors as well. Yes, were trading at highs on the dow, close to highs on the dow, you know, same across most indices, but i think what youll see as we move through the rest of this year this broadening out will d
Campus. And this issue could be popping up at other wellknown colleges all over the country as well, kelly. Well talk about how they and maybe the employers as well should be navigating it. Lets take a look at the markets. The dow down almost 300 points going on a 1 move. Same for the s p. The nasdaq as well, all 11 sectors in the red today. Energy and tech were helping us in the green, but theyve given that up. A lot of this coming after the poor 30year bond auction top of the hour today. We had similar after the poor 10year bond auction yesterday. Yields continue to climb. That tells you where the market worry is at the moment. Were watching shares of birkenstock, continuing to drop, which priced at 46, opened at 41, and is going to break below 38 a share. Well have more on recent ipos struggling. Mizuho cutting the stock to underperform with a 5 price target. The stock is 8 now but was a 230 stock. Hotter than expected inflation read out this morning. Could this change the feds plan
A moment. But we begin tonight with what some are calling the strongest job market since the turn of the century. The economy created a healthy number of fulltime positions last month across a broad range of sectors. Nonfarm payrolls rose by 228,000, making this the second month in a row that gains have eclipsed 200,000. The Unemployment Rate held steady at 4. 1 . But closely watched wages rose just 2 , falling short of expectations. Hampton pearson takes a look at the unemployment picture and the myst those stuck wages. Reporter november job growth was widespread with professional and Business Services leading the way, adding 46,000 new workers. Manufacturing continu to rebound, with 31,000 new hires. And repair work in hurricaneravaged texas and florida helped boost construction hiring by 24,000. But solid hiring and an Unemployment Rate at a 17year low is still not boosting wages. Up just 2. 5 year over year, now averaging just over 26 an hour. Even President Trumps top economic adv
And south korea offers talks with the north a day after the north Korean Leader, kim jongun says he is open to dialogue with seoul, despite telling the u. S. That the Nuclear Button is always on his desk good morning, everyone it is the first trading day of the year i want to alert your attention we have the final manufacturing pmi numbers for the eurozone they came out at 60. 6, in line with the flash this is the strongest pace of expansion in the Manufacturing Sector since the series began in june 199 7 thats two standard deviations above the long run average extremely strong numbers out of europe bringing in our first guest, i have Derek Halpenny on the phone with us. It appears as though europe is off to a great start, in line with the momentum we saw in december i also want to point out that Euro Currency is up through 1. 20, and it appears the currency has lagged this morning. What have you pencilled in for the currency from here we think that the euro can gain further, but 2018