Right now on the russia controversy. Well go there live in a few moments. Major banks out with earnings. Jpmorgan with a quarterly beat stronger loan demand offset a decline in trading revenues. Citis results also above consensus, helped in part by lower costs and better than expected trading revenue they both mentioned brexit a year ago, jim. Really helped trading and yearonyear comp is tough joe asked me earlier which is better and i went with citi no slight to jpmorgan, their quarter was excellent, too theres fantastic growth how about this statistic you know that jamie dimon bought back 4. 5 billion worth of stock, even though the stock is up at 97, scitigroup had every line item better than expected citi gave what was considered an analyst day. And i sat down with mike korbat, the ceo on analyst day, skpeman everyone told me, pie in the sky, he exceeded everything that he said. It is a best in show situation theyre buying back 60 billion worth of stock walmart buys back 20 million
February. Some good news, america, median Household Incomes rising for the first time in eight years. Now stand at 56,500 per home. Unfortunately, as melissa noted, median investments are likely down a bit today. Stocks are getting whacked as we head deeper into the trading day. The dow is down 1. 5 . That would be pretty big slide for the dow. And volatility has really ramped up in the last couple of days, your story, though, once again, maybe oil. Crude could be a cause. Crude oil is down nearly 3 . Lets get more now on this market. Bob pisani on the floor of the new york stock exchange. Starting to get a couple of calls from friends and family and random strangers. What is going on with the market. Is it oil . Is it trump . Is it the fed or, is it, d, all of the above . A little bit all of the above but largely on the fed and what the fed is going to do next week, even though the chance is 25 , thats what the market says, people down here dont believe that. Take a look at where we a
Sanctions against wells fargo. Well have that story plus reaction from former fdic chair sheila bair. Well get to her in just a moment. Plus a new report says amazon is getting more serious about its own shipping business and it may be looking to ditch fedex and ups altogether. This as amazon stock continues to power higher. More on that story coming up a little bit later this hour. And shareholders voting today to approve one of the largest corporate deals in history. Well take a closer look at Anheuser Buschs takeover of sb miller. Is that enough . We have more in the next couple hours. Lets begin on the breaking news of the oil front that has moved the market today. Jackie d. Has it for us. The spike in crude oil putting some traders off guard today. Closing today over 47 a barrel. Now, three major headlines coming out of reuters regarding the opec meeting, but remember, theyre citing sources. Nobody officially has gone on the record here. You mention there is potentially a deal to
San francisco, the information founder of lesson, guys. Apple is the big story, after the bell, analysis is going to be out, and a lot of people are liking to hear that they are going to have down year, and a lot of people dont want to go into the paper with expectations so high, but this is the opposite. Well, talk about negative sentiment of a company with 50 billion in revenue. But we have seen the device, it is a device with huge sales and hard to repeat. But people are ultimately talking about there is going to be a new phone or the device or the car or the tv or something. And jessica, we often hear the ceos of the smaller Tech Companies try to invoke the law of larger numbers, and so with the recent law of numbers, how much does it apply to apple and the earnings each quarter . It absolutely does. This is the same story every quarter whars is going to be happening to the iphones sales, and the long deklining growth, and it is going to raise the question of what is next, and that
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