Today we found out whats wrong with the drugstores. Its not the maximum security of merchandise where you need to call the jailer to get a bar of soap. Its not the often downtrodden employees. No. Its amazon. On a day where the dow gained 36 points, up 0. 9 , i see amazon hitting an alltime high, putting it in rarefied air of the 2 trillion club. I see wall grgreens hitting a multiyear low of 12, down 22 today. After reporting an abysmal quarter, it was its worst day ever. Sell, sell, sell house of pain. We had our cnbc Investor Club meeting today, and we discussed the greatness of amazon, but i feel we gave it short shrift. Amazon is so phenomenal, it can destroy any industry it chooses to go after. Its the retail death star. We learned that amazon is planning to launch a Discount Store to go after the ultralow cost but often ultralow quality of temu and shein. Those have become the most powerful apparel makers in the woshld. Now that amazon is rolling out a similar discount story to
Squawk the vote. Hes where . Hes where . Ohio . Columbus, ohio, my friend. Dude. Were at tommys diner right now. Gods country. Where the best people come from. I was born there. You were born there . Dayton, ohio. Wow. Well talk to you in a second. First this big move in the british pound. It fell as much as 6 at one point. There seemed to be no trigger for the move. Some comments out of hollande could have triggered it and then the handoff to ashea where the trade is very thin. Traders suspect a wrongly entered order or fat finger. Lets check european equities at this hour. They are mixed. Germany, france, theyre all generally flat except the ftse which is up 1 as the pound weakens. Makes them more competitive on international markets. I read earlier the gains in the ftse moderated as the pound rebounded. Some of this totally volatile flash crash, its like the market is we talked about this as i sat down. All the things happening in europe. Pmi in europe for manufacturing and Services
The trump motorcade excepting to leave this morning heading out to indiana to that carrier plant where he will announce a deal to keep about 1,000 jobs at that plant from moving to mexico. So were awaiting that movement and were also awaiting any new cabinetlevel announcements. Take a look at what we know so far of the trump cabinet. You see a lot of positions have been filled including Steven Mnuchin the likely treasury nominee. I spoke to him a few minutes ago and asked him if we can expect any other announcements today. He was playing very coy this morning, wouldnt say if wed get more news this afternoon or not. Waiting on the big two, state and defense. A lot of speckation about jim mattis for the department of defense and speculation about mitt romney as a possible secretary of state. No real announcements yet. A lot of speculation on those two jobs. And then of course well see donald trump going out on this thankyou tour throughout the country over the coming days. Thats going to
Good morning, guys. This postelection rally goes from strength to strength. The dow and s p are in record territory inching higher. Are we setting up for an all in, all go rally like the summer of 2016 . Our guests joining us now. A cnbc exclusive outlook for 17. John, waugh us throulk us throu think 17 is going to look like and specifically if all this enthusiasm about equities is transferring to a macro view. Certainly it does. Always good to start off a morning with a little eric clapton, but the market is a leading indicator. What the market and the yield curve are saying is were walking through a door of opportunity and certainly the equity market makes it easier to finance deals and make a lot more financial activity. I think peoples expectations for tax reform certainly have made an opportunity for greater Economic Growth. As far as our outlook goes, business equipment, Infrastructure Spending is improving in the year ahead and Consumer Spending really solid. So, yes, Financial
At that same scene sunday afternoon a small memorial lays in the spot where 24yearold Anthony Nguyen died. According to investigators it all started when an officer tried pulling over 20yearold Epigmenio Perez for speeding behind the wheel of a corvette the driver failed to yielda pursuit was initiated. Scott however after a short Pursuit Police then lost perez. It wasnt until later when a witness told police they saw the corvette fly through a stop sign, slamming into a honda civic killing Anthony Nguyen of san pablo and injuring two others. Investigators say perez allegedly ran away but later called police and cooked up a story. He attempted to report the corvette as being carjackedofficers arrested him for vehicular manslaughter they interviewed the witnesses and determined it was manslaughter i view this whole thing as tragicthe simplest thing that gentleman could have done was stop scott i checked, the other two people inside that car remain in Critical Condition tonight. Live in