Investors should prepare for this. What does this mean for the pound, which has been stuck in a range, and for u. K. Stoxx at large . As far as the pound is concerned, the rally you have had reflected a significant reduction in the risk of a no deal brexit, so for the time being that seems to be off the table. We are stuck a bit around 1. 30. We need to know where we are going, and until we get past the election and have a sense of what the majority is, it is impossible to have any assessment about the direction of the pound. We are neutral because we think there is far too much uncertainty and too many permutations to take a significant view. As far as u. K. Equities are concerned, it is an inverse relationship between u. K. Equities and sterling, so when sterling weekends, u. K. Equities outperform. From that point of view, if we get a path that moves us toward a softer brexit or no brexit, that should be good for the pound but worse for the u. K. Equities. Dan morris and Stephanie K
Those markets are doing today. Its a red day for the most part, spain is in the green. 10year note yield were always watching that and that is at 2. 42 boy, its a big start to the year for crude well talk a lot about that. Crude over 60 bucks even though its ticking slightly lower today along with brent and wti and brent at the bottom of the screen the roadmap starts with the new year and new rally futures rising as we said as wall street shrugs over geopolitical concerns and the tax effect bp taking a major q2 earnings set but bullish on the tax laws long term impact apples mea culpa, looking to quickly make amends with angry customers. Stocks coming off the best yearly performance since 2013, including 71 record closes for the dow, 72 for the nasdaq and 62 for the s p the dow posting a 25 gain for 2017 and s p up 19 . The nasdaq leading the three major indexes up 28 jim, happy new year to you. Happy new year. Thank you very much. It would certainly seem as though we entered a new yea
Good morning. Stephanie ruhle is on assignment. You will see her in less than an hour. Lets start with both ends the top business and financial stories around them morning. Carl icahn posted a new open letter to tim cook, calling the apple ceo to buy back more Company Stock and at a faster rate. He owns more than 5 billion of that there of apple shares. He wrote that the market undervalues apple. Apple responded in a statement that it always appreciates hearing from shareholders and will review its Capital Program on an annual basis. Icon has had success putting pressure on cook before. It raised its dividend. We will talk with carl icahn later today and we will see him at three clock p. M. Eastern time. 11 in a single month. Down 13 for the year thus far. Almost 23 billion in assets. Companies involved in events such as spinoffs. Investors not happy with the shakeup at the gap. The gap ceo glenn murphy, the man credited with reviving their chain in the past years is retiring. Cap shar
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