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Production for ten years and access to nuclear fuel and equipment for 15 years. Iran has to approve to the International InternationalEnergy Agency that it met it under the terms of a deal. Take a look at whats happening with oil prices. Theyre down by about 2 . This is coming because irans oil is expected to be coming back to the market. Thats putting wti at 5118. Not everyone is happy about todays news. Officials are condemning the deal. Benjamin netanyahu says it gives iran a surepath to Nuclear Weapons. Here in the United States congress now has to approve the deal and its expected to be a tough sale with many lawmakers saying they date of birthont think its close enough. President obama will make a statement on iran from the white house. Thats comin ....
Moving to the upside today rebounding beyond the major u. S. Indices oil is bouncing back. This is important. Its helping the market hire. This is after brent crudent entded in bear market territory. As for europe ftse ending up 0. 7 of a percent. In asia overnight, chinas selloff continues. Not as bad as the day before. And nikkei 225 hitting a twoweek low. Lets get to trading action here in the good old United States of america with bob pisani down on the floor of the nyse. Weve been do for an oversold bounce and it helps that earnings are better than anticipated today particularly in industrials. Look at the major sectors. Everything thats been a disaster this month is up today, which is the way it should be. Were due for a bounce in energy and materials and industrials. A lot of disappointments in earnings. Health care has been holding up. Thats on the upside. Watch the market leaders. Market leaders are internet stocks like go ....
Market has been elected. If we do in fact get meaningful tax reform, how much higher can stocks run pete quite a bit higher. I dont think its priced in at all. Everybody has been looking at this thing for a long time, saying the tax reform, all these various things, i dont think any of them are in there because i dont think anybody believes well be able to get there if we do, holy smokes, thats a great catalyst i look at these financials, the way we exploded to the upside. The rates werent doing anything special but look at citi, jpmorgan, goldman sachs, theyre breaking out i expect to see the xlf at 30. It did hit a nice level on the tenyear yield today it didnt do a whole lot. Were not at the two six level like we were the explosiveness of the facts, which has been record earnings and revenues, thats what people care about yeah, no, i 100 agree. First of all, i dont think anything is priced in for tax reform it could add 7 to 10 of earnings to the s p 500. As far as if things go thro ....
From activist investor and its shareholder elliott management. Well have a lot more on the talks around dell and from a tech analyst in just a minute. Also Fiat Chrysler and the uaw reaching a tentative agreement on a new four year labor contract. They threatened to strike if a deal wasnt made by midnight. Also 40 pow uaw workers now must vote to okay that agreement. The last proposal was rejected by rank and File Union Members. Many retailers will report Monthly Sales today. Costco saying its september comps were flat. Analysts had been looking for a small decline. Other corporate news, Deutsche Bank warning of a record pretax loss of almost 7 billion. Among the reason, big write downs at its investment ranking unit. It might cut or eliminate the annual dividend. ....