Roundtrip from last weeks big declines. The gains are back, and the stability is back, and the lack of volatility is back in the stock market today, as we see technology outperformed. That is a trend that has been in effect year to date, and we see it back in effect today. Weve seen the reversion to trend for the major averages. In terms of some of the individual stocks we are watching, we want to take a look at what is going on with altria group phillip morris. Bonnie herzog is saying that she thinks there is a deal in the making between two companies. It looks like we have a typo with our second ticker, but we can see that shares are trading up 1. 3 . We are also seeing some of the , some weakness. Amgen, the company saying a study of an experimental osteoporosis medicine did show success amongst 4000 patients in reducing the incidence of bone fractures. However, 2. 5 of the patients who took the drug developed serious cardiovascular side effects. That is why shares are down. ,his wa
Im wilfred frost. And seema mody in for sara. Good morning, will. Good morning to you. Lets go straight to Market Action this morning. Off the back of a strong finish to a tough week last friday. We saw decent gains on friday that meant the weeks performance was respectable. Declines but the nasdaq down more than. 5 . S p and dow just down by. 75 . For the week as a whole, seven out of 11 were negative led down by financials which turned in the only performance of all of the sectors of more than 12 decline. A this morning, as you can see, were bouncing back from that decline last week. The dow pulled high just shy of 30 points. Lets look at oil prices because they turned in a resounding poll week. Up about 5 for the week as a whole. Back around 50. And adding gains as you can see, have the 50. 8, the fwries ofpri crude. Exports in japan rising 7. 5 in april from a year ago. Below the 7. 8 annual growth. Exports abroad are being driven by the weakest in the yen that weve seen earlier th
Wind down. The ten year is still stuck around 2. 24. Opec is trying to deliver some more cuts at the meeting on thursday. Our road map begins with a major shakeup in the auto business. Ford firing ceo mark fields amid investor ease about the stock performance. Plus, middle east deal maker in chief President Trump is in israel this morning. This after signing a record arms deal with saudi arabia. Boeing, black stone and ge among the big winners. And the path to 1 trillion. Rbc saying that apple has the potential to become a trillion Dollar Company within 18 months. First up though, changes at ford, the automaker announced that mark fields is out as ceo and that fields has chosen to retire. Hell be replaced by jim hackett, the chairman of Ford Smart Mobility division. Hackett has developed a reputation as a turn around specialist. And shares of ford have fallen more than 35 . The company has scheduled a News Conference for 9 45 a. M. Eastern time. Being called a retirement, but we can re
Good monday morning. Welcome to squawk alley. Jon fortt, sara eisen and myself at post nine. The markets up 63. Joining us today, re code executive editor cara swisher. First we want to get to phil lebeau for more on this ceo shakeup over at ford. Phil, good morning once again. Thank you very much. We will be talking with bill ford jr. , or actually bill ford, the executive chairman of the Ford Motor Company, coming to us from the companys headquarters discussing this decision in terms of dropping mark fields as ceo. Hes being replaced by jim hackette. Jim hackette, formerly the ceo of steelcase, board member at ford for a number of years and then took over the Smart Mobility business about a year, maybe a year and two months ago, and he now will be at the headquarters and we heard from him just within the last hour, saying look, we need to move faster, we need to make our decisions more unified as a company and as part of that, we are going to be talking with bill ford about what happ
Fast enough. Why is there a lack of trust . I think every day, theres negative headlines. You talk about the middle east. North korea. Whats going on in washington. The trump fade. Theres so much negativity in this market, but yet, we saw strong earnings, housing is strong. Youve seen employment strong and then if you add to that, this rush of indexing with all the money coming up to push up and propel the stocks, if you are taking the behavior rall view we do, dont p pull out yet. Its a slow creep higher. Is it . Is is the premise correct . I feel like weve been stuck here for many months now. You know, we did have that sell off wednesday, but it was over the next day, we were back on the rally. If you were going to have fear, i think youd have follow through. Look, love and emotions and their opinion, its going to vary one from one to the next. I dont particularly trust this market, but thats been opinion. Why . Because the earnings was priced in nine months ago and i think the trump