Shocked wall street initially taking the market lower. Were live for fast money specials ten Year Anniversary week. We could not have better guests. Well talk about trumpts exhibits. And he torched buzz feed for publishing what he called fake news. And tom freston and shane smith will tell us what it means to media coy companies. And banks kick off earnings on friday and Howard Lutnick will tell us why the run is just starting. Were close to the original fast gang. We start off with a wimd day in the markets. The dow like an ekg reacting to every word trump said in his first News Conference as the president elect. Gou mentioning to end the day up nearly 100 while the nasdaq closed at another record. But it was those comments about the drug industry that really hit the markets. Pfizer, bristolmyers and Johnson Johnson all falling. And biotech stocks taking it on the chin. The Group Falling 3 . Until today, biotech are were the best performing groups. Are they suddenly a no touch . And w
Will have the looming brexit vote on the hill, and other events to influence the outcome of where the major averages head from here. And steve weiss, the stocks had started to sell off a little bit into the program, and what are you making it, amid the bullard comments that it is a full capitulation . Yes, the second capitulation that we have had, and first yellen came out and had the press conference, and before in the fed note that came out with the meeting basically said, hold on. We are not ready. The economy is weakening and that put the market back on its heels after the jobs number of course that we saw. All bets are off. What is stark is that there is no playbook for anything that is happening. We have had jer areman 10year bunds at zero, and now back to two basis points, and the brexit is hanging over everything. So, as i said, no playbook, and no way to hedge the brexit whatsoever, because it is a true binary event, and if you are going to be taking the risk off and go negati
Alley and jon fortt is at post nine, and along with kayla tausche, and joining us is steve case. Great to be with you, good morning. And lets talk politics, with Hillary Clinton widening the lead in the general election and a new poll gives her a 12point lead over donald trump, 4937, and 55 said they would never vote for trump compared to 33 for clinton and steve, we have been over the potential impact on the entrepreneurships and the vc and the changes because of immigration, and trade, and what is your read on the election overall right now . Well, i was over at the capital this morning meeting with the senators and the democrats and the republicans to the ask about the innovation, and entrepreneurship which is front and center, and frankly so far, not front and scenter. A lot about the topics, but not how the nature of work is changing, and the next wave of innovation is going to be requiring a different mindset from entrepreneurs and policy makers and regulators, and hopefully that
First, we start with the fed officially standing pat, so we asked the question, steve liesman, is the fed on hold forever . What do you think . I dont think its on hold forever, but i can understand why you would ask that question. I think the story here is that the fed probably not going to move in july. I saw a ubs headline saying, take the summer off. We are. When it comes to at least whats going to happen to fed policy. Janet yellen and the fed keeping the rates on hold today, and not suggesting any big hurry in terms of hiking Interest Rates. But the big story today is what they did to a their outlook for rates over the next several years. And they brought them down quite substantially. We suggested all day, including yesterday, that that was probably what the fed would do today. I have to say, i was somewhat surprised. When you look at the chart of what the fed now says its going to do with Interest Rates, look at the last five meetings. Now at just 2. 4 for 2018, that had been a
Course. Power lunch begins now. In a week well know. Did the brits vote to stay or leave europe . This is power lunch with tyler and melissa. Im michelle carusocabrera. Brian is out today. This was the big trade yesterday. Right now the pound versus the dollar at this hour, 1. 43 is what its going to cost you. Pound is stronger again. That little yellow arrow indicates the strength of the dollar. European markets jumping sticks days before the vote. The footstse finished up 1 . A statement being made following the Fatal Shooting of jo cox yesterday. Brexit Campaign Officially suspended only for today. Lets bring in cnbcs wilfred frost who is on his way to london tonight. Tonight but not quite yet. The latest in terms of polls, the Financial Times poll of polls says 48 say theyll vote leave. 43 say theyll vote to stay. Im delighted to say that were joined now by kate, British Labor politician, a member of Parliament Since 1989. She is in the leave camp, one of the few labor members that