It may be a small street but Billionaires Row. Where is it . You have to stick around to find out as power lunch starts right now. Welcome to power lunch. Im tyler mathisen. As brian said another big rally on wall street, the nasdaq topping 6,000 as you see right there. The first time in his are try. What got it there. Well give you the 13 names in the nasdaq hitting new record highs facebook, alphabet, microsoft among them. And another triple digit rally for the dow. If it holds this would be the first backtoback 200point day, days, i should say, gains for the dow since the election. Another notable stat the were only two days into this week but the current weekly gains for the dow and the s p 500 are the best to make them the best of 2017 if they hold. Almost 17 names hitting new 52week highs, best buy, expedia, lowes, home depot. Were all over this big bull run. And Bertha Coombs at the nasdaq. First, though, to bob pisani on the nyse floor. Reporter this is unusual trading, tyler,
And spain and france. Strong gains across europe. And look at crude, which is set for weekly gains, up by 1. 25 on the week. Showing just about that gain today. We got surprising inventory builds yesterday. Traders seem to be taking in stride. The u. S. Treasury department issuing final rules to crack down on those tax inversions. Thats when a company is acquired by a smaller foreign business in a low tax country to avoid paying the higher u. S. Corporate tax rate. The new rules crack down on earnings stripping when the u. S. Subsidiary avoids taxes on domestic operations by sending them overseas as tax deductible payments. Got that . Sara eisen does. This is clearly becoming a signature issue for the treasury secretary, for this administration. And what he issued yesterday were new rules to crack down on tax avoiding companies. This earnings stripping strategy, its a common practice by inverted companies, they use the u. S. Subsidiary to issue loans from the Foreign Company that are t
Were looking for a little bit of balance in the media. Welcome, everybody, im neil cavuto coast to coast is right now. This is something in all seriousness you should step back, wonder what the heck is going on, as donald trump prepares to address an audience in North Carolina . I want to show you something regardless whether youre a fan of his, his opponent or those other two Third Party Candidates, this is breakdown of coverage of the two socalled crises, donald trump and what he has said on videotape. And wikileaks emails that keep coming and coming and coming. Look at that. On all three major networks, scant coverage of the Hillary Clinton crisis. Lots with the donald trump crisis. In fact, picking up about a third, a third of their broadcasts. That is not even dealing with the commercial disruptions. I want to show you something that just over the last couple days, that factor of attention has only grown by about, what seven to one margin. The Media Coverage on donald trump and it
Jpmorg and citigroup all beat wall st expectations. But profits were down across the board, year over year. That was enough to lift the broader market, but not shares of all the big financial institut. D thats partly because. Uestion sti remain about the and, of course, a lot of attentn was on embattled wells fargo. Which said customer traffic at branch was down in the wake of the fake account scandal. And fewer checking accounts wer. Repor john stumpfs final quarter as ceo at wells fargo, profit dropped 2. 5 . E that the nations thi largest bank wasn all bad. Despite charges the bank opened as many as 2 million accounts with either fake or unauthorized customer information, profit was still higher than expected. And revenue rose more than 2 also, more than analysts predicte aftereffects of the sale scandal, a 185 million settle stumpfsouster, still to be felt. Sloan already looking at reduced business. The implications for our compan and on the trust of our custom are significant. Cus
Jpmorg and citigroup all beat wall st expectations. But profits were down across the board, year over year. That was enough to lift the broader market, but not shares of all the big financial institut. D thats partly because. Uestion sti remain about the and, of course, a lot of attentn was on embattled wells fargo. Which said customer traffic at branch was down in the wake of the fake account scandal. And fewer checking accounts wer. Repor john stumpfs final quarter as ceo at wells fargo, profit dropped 2. 5 . E that the nations thi largest bank wasn all bad. Despite charges the bank opened as many as 2 million accounts with either fake or unauthorized customer information, profit was still higher than expected. And revenue rose more than 2 also, more than analysts predicte aftereffects of the sale scandal, a 185 million settle stumpfsouster, still to be felt. Sloan already looking at reduced business. The implications for our compan and on the trust of our custom are significant. Cus