Are in the markets for the second day in a row, weve had a nice rally in the open thats faded as we go into the close. This is part of that fading on the optimism of the reopening story here so banks have been weaker, retailers generally have been weaker, but still up fractionally, because the big five, the mega cap tech stocks are on the upside. We were talking about guidance, and once again, a number of the companies today pulled their guidance papa johns, mattel, office depot, genuine parts company, equity residential, Waste Management they join 170 other companies, that is one third of the ap 500 that has declined to give guidance and this is one of the reasons were seeing so much stock volatility how do you figure out what the right prices and multiples are when you dont have any idea what the earnings situation is going to be like we also have problems with dividends. Many companies are cutting their dividends as well, or even eliminating them altogether. Morgan stanley put toget
As how we trade. The dollar, flatter on the day. Less than 82 basis points. This is what the banks will hate. The vix under 10. A tough quarter for them. The morningfor brief. We are going to get weekly u. S. U. S. Priceims and index data. Trump is set to sign an order he says will promote Health Care Choice and competition. At 1 00, the u. S. Treasury will auction 12 billion in 30 year bonds. Emma little progress has been made in talks with the uks with the u. K. Much is deadlock over how the u. K. Will pay for the right to leave. Davis is urging leaders to take a step forward and move talks to trade. The death toll is rising from the wildfires devastating california. At least 23 people are dead. 180 are injured. Hundreds are reported missing. The fire has destroyed at least 3500 homes and businesses. Get congress to repeal obamacare, so he is going after it himself. He will sign an executive order that the white house says will promote competition. It will likely allow people to band
On wall street and all around the globe. The dow rose almost 100 points, closing at a fresh record of 16,836. The nasdaq gained 45 points, and the s p 500 added 12. 5 points to the new record of 1940. Jeff cutmore is in frankfurt, germany, and has more on those moves by draghi. Reporter what we saw today was classic draghi at the ecb. A little bit of jam today and a lot of jam tomorrow. So lets talk about the details today. The key moves were in the interest rates. That ultimately now sees a negative deposit rate here in europe. The other big announcement was related to what they call ltros. These are longerterm funding programs. Its a way of squeezing money into the banks to try to encourage them to lend into the real economy. And credit expansion is the real issue when it comes to europe at the moment. So those were the two major points. The jam tomorrow really relates to fullblown qe, or some kind of bondbuying program. Mr. Draghi didnt have much new news on that. He effectively sai
That led to market rallies here on wall street and all around the globe. The dow rose almost 100 points, closing at a fresh record of 16,836. The nasdaq gained 45 points, and the s p 500 added 12. 5 points to the new record of 1940. Jeff cutmore is in frankfurt, germany, and has more on those moves by draghi. Reporter what we saw today was classic draghi at the ecb. A little bit of jam today and a lot of jam tomorrow. So lets talk about the details today. The key moves were in the interest rates. That ultimately now sees a negative deposit rate here in europe. The other big announcement was related to what they call ltros. These are longerterm funding programs. Its a way of squeezing money into the banks to try to encourage them to lend into the real economy. And credit expansion is the real issue when it comes to europe at the moment. So those were the two major points. The jam tomorrow really relates to fullblown qe, or some kind of bondbuying program. Mr. Draghi didnt have much new
That led to market rallies here on wall street and all around the globe. The dow rose almost 100 points, closing at a fresh record of 16,836. The nasdaq gained 45 points, and the s p 500 added 12. 5 points to the new record of 1940. Jeff cutmore is in frankfurt, germany, and has more on those moves by draghi. Reporter what we saw today was classic draghi at the ecb. A little bit of jam today and a lot of jam tomorrow. So lets talk about the details today. The key moves were in the interest rates. That ultimately now sees a negative deposit rate here in europe. The other big announcement was related to what they call ltros. These are longerterm funding programs. Its a way of squeezing money into the banks to try to encourage them to lend into the real economy. And credit expansion is the real issue when it comes to europe at the moment. So those were the two major points. The jam tomorrow really relates to fullblown qe, or some kind of bondbuying program. Mr. Draghi didnt have much new