Stay updated with breaking news from Jeremy grantham. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Our road map begins with the global stock rally, rolling on dow 25,000 within striking distance that winter storm crippling the eastern u. S. Thousands of flights have been canceled and shares of macys are in focus, as the retailer announces some fresh store closures. We are close to a major milestone on the street. The dow is within 78 points of 25k. Thats a day after another recordsetting session for stocks this would be the fastest thousandpoint surge in history. We know about the law of large numbers, but were talking a little more than 30 days one day, its actually going to be in the front page. You know, look, other than the president s tweets about it, you really dont no ones really focused on this. Theyre more focused on bitcoin, tesla. This is remarkable last night i did a piece where i had to stick my hands into the cake because its not baked in so i think we blow through the number the only thing in my sights that may be negative is that we are going to get a trade decision ....
Recordbreaking day for the stock market we cross one more millennial, have more to go . The president is talking about 30,000 who knows where were going. The important thing is to note how broad the rally is, not just tech stocks, in fact, theyre not necessarily the most important part of the rally. Lets look at the sectors moving financials is been big Interest Rates have been moving up materials, thats a rally thats continuing to ratchet. Energy strong with oil over 60. Even Consumer Staples are leading. You know whats not doing anything anything thats Interest Rate intensetive. Real estate, investment trusts, utilities lagging for a long, long time. Of course, those are bond proxies. A lot of new highs in financials as the higher Interest Rate scenario is helping ....
Coming up. We do have quite a rally with the dow in particular. The transports continue higher all the major averages are in record territory. We also have big calls on the Airline Sectors today and the banks as financials get set to report. Were heading into earnings season well have you up to date on those. Lets start on the floor of the new york stock exchange, mr. Robert pisani joining us with a recap of whats going on as we get ready for earnings, right . Yeah, a lot at stake here, but sixday winning streak, just six days in a row since december 17th p nasdaq has the best sixday winning streak since the end of january 2016. Were starting earnings on friday, there are very High Expectations thats my theme. A shortterm risk. The markets. Just on earnings, analysts are much more optimistic we hardly got any last quarter here were expecting bigger beats, not by a penny o ....
Seeing the treasury and buying yields down. After the fed minutes, they got hit in tensely. David it is time for the morning brief, here is what is coming up. The ecb will be publishing that account of its january policy meeting. At it 30, initial jobless claims and at 1 00 this afternoon, the u. S. Auctions sevenyear notes. Alix time for our bloomberg daybreak first take. First up is that hawkish versus dovish read on the fed minutes. The ecb account coming out in half an hour. There is rhetoric out that they are to blame, and barclays shareholderso looking for its first buyback in years. David we will come Peggy Collins and Joe Weisenthal we welcome Peggy Collins and Joe Weisenthal. Lets start with a quote from the fomc minutes. This is what they said. You have to g ....
China closes more virtual tunnels under its nose at notorious firewall. People and companies will have to use state approved software. We will look at the consequences for doing business in china. And a Court Reverses lifetime bans for dozens of russian athletes accused of doping, but it is not clear whether those athletes can take part in next weeks olympics. Brent im brent goff, it is good to have you with us. We begin in the United States where the fbi has condemned plans by the white house and House Republicans to release a secret memo tomorrow. The memo alleges the fbi abused its surveillance powers when investigated Donald Trumps president ial campaign. The agency contests the documents accuracy. They say it could undermine investigations into the russia 2016 ....