Decline in the open and s p in 18 best start in 30 years. Buffett on the market, succession planning at berkshire, stocks not richly valued and remains a buyer but not of bitcoin. Tech under fire a powerful gop senator demanding answers from apple good battery gate the s p is off to the best start since 87 and buffett says markets are not richly valued according to rates and what he told becky a few moments ago. What has happened in the market has been very sensible. Nobody thought we would have these kind of Interest Rates for a long time. Additionally you have the tax act which is a huge factor in valuation. Says the Interest Rates are the gravity to value and munger chiming in saying share prices are not crazy. Point blank tell you, this was becky quick, congratulations, unbelievable interview. You sit there and what you get are people who know more than anyone else alive and they are saying, look, theres some interesting things and lets not go crazy, just because Interest Rates go
Nasdaq the dow also closing at a record high it looks like well open sharply lower. The dow losing 124 points right now, the s p down 13 nasdaq down about 44 what was weighing on the markets yesterday and probably today, the yield on the tenyear note 2. 584 right now thats the highest since march 15th a big move in the tenyear treasury yield thats challenging the equity rally today. The yen continuing its strength after the boj said it would continue its bond strengthening services the hang seng up by 0. 20 . Over in europe, right now at hope the dax down by 0. cac down by 0. 6 looking at the price of crude oil, highest level since 2014. Wti, 63. 43 breaking news this morning. Lets get to becky quick live in omaha. Good morning good morning. Theres breaking news from Berkshire Hathaway the company out with a statement saying that its going to be increasing its board of directors by two members to include two key members of its Operations Team who people have been looking at for a while
In europe. And then finally a quick look at crude before we get to a couple of the big stories of the morning. Wti at 46. 57. That would have been a good move around the 40 handle couple of days ago. Here are the big stories were watching today. Amazon crushing earnings estimate, posting most profitable quarter ever. We asked yesterday are they still sewing . Or starting to reap . Looks like the reaping has been. Cloud computing business. I thought they sold books. No. They have changed apparently. Side things. Other things in the last few years. Helped the Online Retail giant pull off the beat and stock took off. Jeff bezos net worth went up estimated 6 billion dollars based on how much stock he owns. And other stocks on the move this morning as we check into earnings central. Pandora reporting a wider First Quarter loss. Although it wasnt as bad as analysts expect. The streaming Music Service is raising full year outlook thanks to higher ad sales. And baidu fell to lowest level. Chin
Growth and uncertain growth. The aussie dollar is falling sharply on that news. Australian stocks, on the other hand, rallying more than 2 on the news. In asia, japans markets were closed for the Constitution Day holiday. Chinas Managers Index shrinking to a 14month for its 14th month coming in below forecasts. A bit of a mixed picture. Shanghai compost up 2 . And hang seng almost the lower. All eyes on . Yeah, go for it. Moving forward, in pretty negative territory. And germany is lower than 2. Ftse lower than 1 . Italy and spain off by more than 2 perhaps because the eu trimming its 2016 growth forecast to 1. 8 from 1. 9 . Its 2017 growth forecast from 1. 9 to 2 . Also cut Inflation Forecasts despite their efforts to do Everything Possible to try to lift inflation. Watching european financials, ubs reporting a sharp decline in management wealth business. Which was supposed to be all the european banks going into wealth management, they were going to be smoother when it comes to their
Most recently broke neck bone. Heather lets hope he will be okay. Abby fox news alert boiling over after president obama orderers freedom for one of america east most controversial prisoners. Heather convicted of leaking military secret that is put u. S. Servicemen and women in harms way. Jackie ibanez with the new developments. Transgender former Army Intelligence analyst, convicted for leaking classified documents to wikileaks will soon go free. The actions resulting to taliban relating soldiers overseas. Mannings sentence cut short and released on the 17th. One thousand 380 computations with 209 on tuesday and promising even more tomorrow. Among them. Puerto rican terrorist Oscar Lopez Rivera who helped bomb u. S. Cities like chicago and new york and retired general James Cartwright who lied to the fbi of Irans Nuclear program. Lawmakers on both shocked. I think hes dead wrong, absolutely dead wrong. Thats treason. I think they are wrong. They can put individual operatives at risk,