Weve got record highs, dow surging. S p gaining. Nasdaq 1. 06 texas earnings forecast and yesterdays trade deal with china. At the same time individual companies are taking action to fight Climate Change in a way thats unprecedented these are issues that could hurt earnings per share yet the market doesnt seem to care. The market seems to like it. Its insane. For my entire life, especially the last 40 years, you have companies doing anything they could to make a profit and the government working to restrain them. It was the government that forced big business to care about clean air and clean water. Thank you richard nixon. We took it as a given companies would try to get away with anything they could to maximize profits for their bosses the shareholders this endless cost for growth, wall street didnt care at all it was amoral. And if you want to be a good investor, you ordered this stuff. But in eamon yumtal twist weve seen a shocking paradigm shift suddenly capitalism is trying to re
Down with the tie ranrany, we ho stop worrying about the declines the yield on the tenyear got hammered before the market open so the averages got hamerred as i did my best to protest that and as treasury yields bounced back, stocks did, too. Down 589 and s p up. 08 being down 2 and nasdaq up 3. 8 down about 1. 7 you know what im calling this today im calling a huge win for the bulls. Normally when you see this wild action in bonds, yields nosedivi nosediving, it means a recession is around the corner but i think thats a misreading of the current situation. The truth is u. S. Treasuries are giving a much better return than bonds from any other developed country. If you live in europe and want a nice, lowrisk Free Return Exchange euros for dollars and buy u. S. Treasuries. That drives rates down call it globalization Collateral Damage the russia bond buyers from overseas is spooking the stock market Stock Traders see it as a symptom of incredible weakness in reality, its a symptom of we
Speaker, i had meetings this morning. Other than one meeting with her metastudent queen, the diary for the rest of my day is remarkably light. Other than one meeting with her majesty the queen. Thank you very much, mr. Speaker. The Prime Ministers congratulations to Andrew Murray and all the other winners. May we thank the Prime Minister for all his hard work and his leadership. And particularly his commitment to the union and to Northern Ireland visiting in auckland and swimming to working with the next Prime Minister. Im told there are lots of leadership roles out there at the moment, at the english football team. Top gear. [laughter] even across the big pond a role that needs filling. But if i can go to my pet subject, brexit really threatens Prime Minister cameron in your own time. Brexit threatens the unions. Will the Prime Minister work with his successes to ensure we have somebody that is going to pull together all the countries of the union and the overseas territories and make
Dow tumbling 167 points. S p sinking 0. 86 . Nasdaq losing 0. 91 today because the styles of the two candidates couldnting more different, and the polls are very close. So the level of uncertainty is much greater than if we had a runaway frontrunner. Does the fear make sense . Should the averages have been merciless . Frankly, i dont want to make any determinations because at the end of the day, this is a political question, and that means its up to you. My expertise is picking stocks, not politics. And im uncomfortable even going there, even for one evening. But i just cant ignore the elephant in the room because that would mean ignoring whats driving the market, and thats whats coming up at 9 00 p. M. On cnbc. The first of the president ial debates between donald trump and hillary clinton. Im tuning in. I hope you do too. So where do we begin . Lets talk about what business thinks first of this election. As the wall street journal reported in an amazing story last week, and i quote,
The broader implications for china coming up. This is a company that already owns a landmark in new york city and youve got another chinese firm already been buying up theater chains around the country. They are making big moves in the u. S. The same company was already just going to buy a portfolio of assets from black rock. Its incredible how much deal making there is out of china. Well get to my interview with Jeffrey Ubben and what he thinks about the ceo of valeant and 21th century fox and netflix and the move in oil. Its all coming up in a cnbc exclusive. The office is stunning, gorgeous. Leave it at that the. Where some of the money went, i guess, how nice for them. Plus, ohio and florida of course the two key primaries coming up tomorrow. Well tell you whether any candidates can potentially beat donald trump in those states and how the results could affect businesses there. Lets start with this story out this morning in chin ease company on a shopping spree in the u. S. Tell us