John fortt on the New York Stock Exchange watch the markets set more record highs dows up 20. All about earnings. Investors awaiting the busiest earnings week of the quarter more than 160 s p 500 companies and 12 dow components are set to report Big Companies like mcdonalds, microsoft, amazon, alpha bet, and more on tap. Lets bring in john from charles schwab, also joining us here post 9, bob pisani were having a debate whether its tax reform or earnings. What say you absolutely the earnings situation with tax reform a cherry on the top. Were going to be down this quarter opposed to double digit in the prior two quarters, but thats because the Insurance Companies are getting hit on the hurricanes, that will change in the next quarter, and the oil profits arent quite as high because oil started turning around Third Quarter last year overall, we are near record high earnings and its the Global Economy expanding thats the most important thing right now expecting hurricane disruptions. On
Stocks. The nikkei down half a percent. Lauren higher avocado prices clock is thinking about 10 . Fbn am starts right now. 5 01 a. M. In new york. Wednesday october 21st. Good morning. Lauren and lauren simonetti. Thank you for joining us. Higher avocado prices. Three bucks a pop or i go. The clinton president ial campaign as well as the Democratic National Committee Help fund a research firm. That produces a dossier of allegations about President Trump and his ties to russia. The firm, fusion gps. Then hired to write the dossier. Devin nunes on special report last night saying he is now seeking the baking records of the research firm. We believe we are going to have this matter fixed within the next week or so and we believe we will receive the financial records of fusion gps ps chairman of the committee, it is my job to enforce subpoenas. Lauren fusion gps says the subpoena has no legitimate purposes. Cheryl thats a big story overnight. Also, the white house saying Arizona Republican
The fed decision is behind us, at least this one. Now were counting down to the earnings in less than an hour, numbers from facebook, tesla, qualcomm,shake shack, and many, many more. Well tell you what to expect, break down those numbers as soon as theyre released. Here we go again its going to be a huge afternoon. The house tax bill was supposed to be released today now its expected tomorrow morning. We do have a strategist who says the best outcome for the market will be if tax reform does not get done at all. Hes doigoing to explain why shortly. We start with the dow, s p, and nasdaq hitting intraday highs earlier in the day the dow was up 140 at its peak, but all have pulled back from those highs. The dow no, nobody is in record territory lets get to our Closing Bell Exchange diane swan, robert frost at post nine, sitting next to keith bliss, and Rick Santelli checks in from the cme in chicago diane, im going to start with you. No surprise. I asked Rick Santelli yesterday if anybo
High after reports the i. T. Company may be sold to rivals for 20 billion u. S. Dollars. An appalling and detestable liar thats what the u. S. Attorney general Jeff Sessions denies allegations he colluded with russia in a Heated Exchange with lawmakers on capitol hill. I recused myself from any investigation into the campaign for president , but i did not recuse myself from defending my honor against scurlous allegations. The london fire brigade confirms a number of people have died in the massive blaze that has engulfed a large tower block in the western part of the city. Dozens are injured the cause is unknown in my 29 years of being a firefighter ive never seen anything of this scale im very sad to confirm that there have been a number of fatalities good to see you this morning. Ill start with the breaking news from the iea, the latest monthly report on what is going on in the oil market recent weakness in Oil Demand Growth is likely to prove transitory thats what the iea is saying
Slightly in the european markets for this thursday morning. The tenyear note yield crossed that 2. 5 level and now 2. 572 is where we find ourselves with wti firmly above 50 a barrel as well. Lets get to our road map this morning. And it starts with the markets. Of course we are still on 20,000 watch for the dow. Lots of data as well to digest this morning. And in president elect Donald Trumps meeting with defense ceos, what did boeing and lockheed say . And what are they saying now . And two more names familiar to the cnbc audience named to trumps team, carl icahn and Peter Navarro both set to join as advisors to the president elect. The economy grew faster in the Third Quarter than the government originally thought. The final reading up 3. 5 , that is the fastest pace in two years, better than the previous estimate of 3. 2 growth. The data comes as the dow continues of course to take aim at 20,000, jim, weve been ever so close. Ive been monitoring it from my few days off, but we didn