bob pisani takes a look at the markets. but first, michelle caruso-cabrera in paris. >> reporter: last night marked yet another major upset in global politics. emmanuel macron started a new party one year ago, wiped out the socialists and republicans who dominated french politics since world war ii and then won decisively against marine le pen to become the next president of france. the rest of the european union breathed a sigh of relief. that's because macron is very pro-europe and very euro. while marine le pen wanted france to return to the franc and reestablish france's borders. business owners are are anxious to fulfill the promise to reduce market regulation. sammy just won the annual best baguette in paris contest. how many baguettes did you sell yesterday? >> 2,000. >> reporter: he voted for macron. can i taste it? he tells me france's 35-hour work week is nonsense. he works that much in two days. even though business is up sharply since winning the annual conte contest, he's afraid to hire more people, because if

bob pisani look at what to expect. >> reporter: the overall retail picture is looking pretty grim right now. 20% of publicly traded retailers are expected to lose money in the first quarter. 20%! 60% will report lower earnings than last year. that's the worst performance for retailers since the great recession. retailers have richardeached a g point in the last few months. more sales are going online, and travel and restaurants overbuying apparel. and there's an oversupply of retail outlets. then of course there's amazon, the big elephant. amazon made up more than 60% of the growth in u.s. online retail sales last year. 60% of the growth. they're about 27% of the growth in the total retail market. think about that. one company with a quarter of all the growth that we saw in retail sales last year. how do you compete with that? there is no margin for error, because of the pressure amazon and even walmart are putting on the businesses in terms of pricing and delivery. still, a number of retailers are holding up, including the home improvement group. home depot and lowe's are doing well. c

bob pisani is there and joined by two special guests. >> thank you very much.btig's 15th annual event raising $4 million, $5 million for charity every year, dallas mavericks owner mark cuban joining us, shark tank star and also the real star of the show, steve stark of the ceo of btig. how do you get mark cuban, derek jeter, a-rod we're talking to in a few minutes, shaquille o'neal, mike bloomberg, month after month, year after year? >> groveling and being nice to them. it really developed into something really special. everyone gives their time and energy to give back and show the good side of wall street. >> $40 million you raised in 15 years to your credit. mark cuban, what is on your list these days? i want to talk about artificial intelligence. that's in the news. everyone says people will lose their jobs. i had a discussion with you, you think it will make people more productive and will help the stock market. >> i think people will lose their jobs unfortunately. there will be some disruption. hopefully entrepreneurs like myself will find new ways for the

as bon pisani reports right now, that's working for the market. >> stocks again hit historic highs today. one of the reasons the market has remained strong is that there's been considerable rotation among sectors in the last year. the market leaders fall back, and they're usually replaced by market laggards. it happened again today. what sectors have lagged the market this year? energy stocks and bank stocks. what led today? energy stocks and bank stocks. energy was particularly dominant. oil was again back near $50. saudi arabia and russia announced yet another extension to their agreement to cut back supply. now extended it through the first quarter of 2018. big oil stocks all traded up on that news today. now, stocks had been strong because risk has been lower recently. earnings guidance, for example, for the year has been strong. that's good news. the global economy is improving. that's good news. the geopolitical risk is much lower thanks to france. also good news. now, the traders had been complaining about the low volatility. but that's historically not a problem for markets. trad

for "nightly news," i'm bob pisani at the new york stock exchange. >>> ahead, the retail rack. why it's not just the shift to online shopping that is leading to a rise in brick and mortar bankruptcies. >>> late today, cbs saw its profits drop, although helped by higher subscription fees. the company has been focusing on streaming services as more and more advertisers follow viewers online. and the big concern for the industry broadly is the rise in cord cutting. meaning a growing number of consumers who no longer want to pay for cable tv. and one way or another, cable television subscription fees work their way back to content providers, station owners, and networks like cbs. julia boorstin has more. >> reporter: the pay tv business suffered its worst first quarter ever, according to a new report. even if you account for additions from smaller skinny bundles such as sling tv and directv, analysts say the pay tv business still lost half a million subscribers. >> it's not that these customers are leaving and going to virtual over the top players. those guys were weak too. so the

for "nightly business report," i'm bob pisani in new york city. >> good for them. >> very nice. well done. >>> that's "nightly business report" for tonight. i'm sue herera. thanks for joining us. >> and thanks from me as well, i'm tyler mathisen. have a great evening, everybody. hope to see you back here tomorrow

bob pisani watched it all from the floor of the new york stock exchange. >> reporter: the markets have been rising because earnings guidance, the main driver of stock prices, have been strong. the economy has been improving. although there has been weakness in china recently, and geopolitical risk in europe is lower. investors believe in the trump agenda of lower taxes and infrastructure spending. they believe the markets can withstand a certain amount of political drama as long as his agenda keeps advancing, even if slowly. but what's happening now is different. most of trump's tweets in the past, while not odd, were not actionable. this is actionable. talk about obstruction of justice or an impeachment fight, that's a whole new level of uncertainty. we're faced with the prospect of a president derailed by months of fighting. the risk is that even if he survives, he loses so much political capital that the only thing he can get through is something everybody agrees on like infrastructure. the potential for a 5 to 10% pullback has increased. now, it's about time we had that. we haven't

bob pisani looks at why nothing seems to be rattling this market. >> reporter: markets are not people, but they do have moods, and the mood right now is "i don't want to hear it." on reports that former fbi director james comey had written a memo alleging that president trump asked him to drop an investigation into michael flynn. concerns about obstruction of justice were raised at that time. but the next day, the markets acted like it was no big deal. a week later, the s&p 500 and the nasdaq rose to record highs. it wasn't just a few momentum stocks, by the way, like facebook and amazon, that moved. yesterday roughly 220 stocks hit new highs on the new york stock exchange. we haven't seen that in a while. but a few risk factors are still very real. the trump agenda, for example, is limping along because the comey/russia issues are not going away. oil is not cooperating, another big problem. it's below $50. finally, we've had very choppy economic data in the second quarter after a rocky first quarter. normally you would think these would be big problems for the stock market. so why ar

for "nightly business report," i'm bob pisani at the new york stock exchange. >>> hugh johnson, who has seen a lot of stuff over the years, joins us now to discuss what we can expect in the months ahead in the markets. hugh, so glad to have you here tonight. like me, your sense of history and sue's as well goes back through many crises over the years. >> mm-hmm. >> how should we think about what's going on now as an investor and how can we keep cool helads when the headlines are so hot? >> it's not easy. i remember the nixon crisis and the clinton crisis. even though we try to keep our heads, even though we tried to focus on what really counts, which of course are earnings and the economy and things of that sort, the truth was in both periods we were very focused, obsessively so, on what was going on in washington. that was true in both of those instances. and i think it's going to be true in this instance as well. and occasionally, periodically, we're gng to get some sort of a shock, a shock that suggests the president is going to be impeached or something is going to happen in washing

bob pisani has more on the market's climb to new highs. >> reporter: we have a breakout. the s&p 500 and the nasdaq have been hitting new highs recently, but they broke out again today. critics of this rally have complained a small group of big names led by google, facebook, apple, amazon, that's what's powering the rally, and while that's true today, we did see over 200 new highs on the new york stock exchange. that means the rally is broadening out. the rally is all the more surprising because it's being done without the help from oil. it was down 4% today. despite the fact that opec announced an extension of its oil production cuts for another nine months. the markets seem to want even deeper cuts. another surprise, the sharp rally from last week's declines. traders were deeply worried about the trump agenda last wednesday, remember the dow plunged 373 points then on concerns over president trump's firing of fbi director james comey. once the president left for europe, those concerns seemed to go away. whether those concerns will resurface when the president returns fr

let's begin with bob pisani. bob, finally the volatility many have been waiting for. >> reporter: a little bit of it. we'll see if it lasts, brian. look at the s&p. we're five points off the low. importantly selling basically stopped once we hit the european close. volume dropped off as well. heavy volume etfs, a lot of people complaining about the volume, but today in the biggest etfs, spyder, the s&p and the russell 2,000, big volume. other e it tfs, european like the emerging market etf eem not so big volume. bigger than normal. this is clearly a u.s.-based event. secretario sectors, 2.3%. that's a problem. and, of course, defensive moves. so utilities are up, gold is up as dollar weakness is helping xhcommodities but not helping commodity stocks here. low volume stocks, low volatility, excuse me, stocks like colgate, duke, kimberly-clark, dominion. what's the market risk? we've seen lower geopolitical risk particularly around the french elections why the markets are holding up. the political risk is now risin

pisani. as we look at target, a name we haven't mentioned this morning, qualcomm.o get to the news this morning. remember of course there is this ongoing litigation that has been added to the huge dispute, nasty between apple and qualcomm of course which supplies a lot of the intellectual property that's used in apple phones not to mention all smartphones around the globe. previously qualcomm had responded to the apple's lawsuit in the california court. now this morning we get the complaint from qualcomm in which it is also suing the suppliers. interestingly and importantly, it is with those suppliers that qualcomm has the licensing agreements. not with apple itself. but apple has withheld payment to pay the royalties, a key component of the revenue stream and therefore, now qualcomm is responding by suing the same suppliers. we are talking about foxconn and others with whom qualcomm had agreements in place for years. some dating back to 2000 or 2005. they're paying qualcomm for other phones they make, for other companies for the intellectual property but no longer

or these triple december bob pisani was talking about the four-time leverage.y are blessed by the s.e.c. just to ruin you, because people don't understand how they work. they reset every day. another way to lose money, unless you just go and you do what buffett says and you go what vogue vogel says. i told people to get out at 11,000, and i just followed mark haines to the haines bottom, and they said, so what? it made me pay taxes, there's people in the white house who said i heard some guy -- i don't want to get to -- but getting out and getting in. it show longest even has any cachet. each being right is wrong. watson, come here, i need you, no, it's thomas watson. >> just stay innant don't do anything. >> if you're approaching it as something that's the bedrock way you invest, you're not going to be fearful. you're going to say, well, this is what happens, i'm going to lose money now, make money later. this is a different kind. the hedge funds, they hate it. they just hate it. did you ever seen a hedge fund guy come out and say i'm really long, here's five

for more, we turn to rick santelli, bob p pisani is on the floor.et's get your take, the principle maybe not the rule. >>. >> yeah, you know, i know ss o it's so fascinating when anybody in government trying tos to tackle something large. to get that one sound bite that's just as rigid, i think that's a waste of time. the collection of taxes, the revenue generated through taxes that goes to uncle sam is hugely from the individual side. much more than the corporate side. just to set that stage. in terms of modeling on the one page that was released e erele take that to the next level. modeling hasn't worked out well. we had ben bernanke on today. they never modelled the fact that much of their policy would be put in the purchase of stocks. modeling is limiting. if you talk about deficits, if you want the horsepower from tax cuts, think what what we're saying. p put the money in thands of the people making it, not the government. that has to be a deficit. that's where the kicker is. and finally, on state and local taxes, i just can't wait to see peopl

bob pisani at the new york stock exchange. >>> lawmakers reached a $1 trillion deal to fund the u.s. government. republicans and democrats agreed last night to fund the operations of virtually every federal agency through the end of the fiscal year in september. among other things, the bill includes money for defense programs, an additional border security, but not the border wall. it also plugs an emergency shortfall for puerto rico. it funds health benefits for retired union mine workers and provides additional money for medical research. the house and senate are expected to vote on the package later this week. >>> a vote scheduled on health care. the trump administration seems to be pushing for one although there are mixed messages. john harwood is covering that story from washington. good to see you as always, john. is the house anywhere near voting on another version of the health care bill and how is this particular version different from the last? >> so, i think they're closer than the last time this bill collapsed. principally the change they made is to give states the option

back to you. >> that's the stock market viewpoint from bo b pisani.ck santelli, anything in bonds? >> no. you need add microscope to find the moves with this once. some move in the dollar index you see on the intraday chart. look at charts, 127, up to, look at 10s, 128, arguably 228, 229, 230. maybe basis point. really what's notable today was how much buying interest we saw in 30-year bonds kind of flattening the curve a little this morning. i found most fascinating, right in the first line. they said the labor markets continue to strengthen even as growth in the economy slowed. let me see. the last meeting march 14th and 15th. one jobs report. 98,000 was my memory. i don't know how they could -- that's their favorite area they look at unemployment rate, forget all the unemployment we don't count. but that right there was hard for me to r50ed beyond that. far as the last panel, i love steve's comment. got to be careful about giving hints regarding what they'll do with the balance sheet. the problem with central banks. the word "hint" should never be

right now the dow up 3.5 points. >> thank you, bob pisani.on the air this morning. let's get to santelli. hey, rick. >> good morning, carl. very interesting with ben bernanke. i enjoyed the part about how balance sheets of central banks around the world, how they fit into a representation/comparison of gdp. we had just done a piece on this. ours is about 25%. size of balance sheet to this total size of the economy. if you look at japan it's 100%. maybe a systemically important designation needs to be on other central banks. a couple of things should jump out at you. we reference that 2.27 yield support. you can clearly see we continue to hold it. if you look at how narrow it is today, europe is closed. pretty consolidated. rates really didn't pay a whole lot of attention to the moderation of pricing pressures embedded in today's personal income and spending report as represented by the personal consumption expenditure. let's hold the following charts to an october 1st of 2016 start date. we're going to look at something quite simple. since no

bob pisani talks to mark cuban as well as baseball all-stars derek jeter and a-rod.treet" will be right back. with help from our advis madt swings. sure we could travel, take it easy... but we've never been the type to just sit back... not when we've got so much more to give when you have the right financial advisor, life can be brilliant. ameriprise thithis is the new new york.e? think again. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov >>> the president acts, markets react, from policy moves to breaking >>> watching stocks, the dao is higher, if it remains higher it would be the first time in a few days, up 24 points. technology again is a standout, the best performing secretarier in sector in the s&p 500 right now. today, the best performing member of the tech index is microsoft, where our john port is there for the unveil of new hardware products around education, pote

bob pisani here at the new york stock exchange and eamon javers with the latest from the white house.ob, biggest klein since september today. >> it is, and it is across the board, but some pockets of notable weakness even bigger than normal markets. look at the sectors. banks have been a problem. remember, they had a problem really since march. techs are high bait names, understandably to the down side. industrial is also weak. defensive names a little better. utilities, gold up of course. we have seen the dollar weakness that helped the commodity, but not help the commodity stocks here. i want to show you what the decline in banks horowood like. this is bank of america here. very heavy volume. down almost 6%, 149 million shares. look at that. ten-year yield 2.1% today, lowest in about a month. banks are high beta stocks. but other stocks that move a lot when the market moves, they're notably weak today. a lot of semi conductors, micron, broadcom, a lot of the names in material group like freeport. there's are all down. dollar is at a new low since the election, that helped the commod

. >> and bob pisani, stock market reaction. >> quiet in terms of raeeaction. more idea how they're going to deal with the balance sheet issue. all anybody really cares about. remember, growth and inflation expect aces we already know about, will get an update in june. nobody was really very interested in that part of the whole discussion. i think the important thing, they'll take a lot of care how they deal with the caps. the reinvestments decline. remember something. their portfolio is very, very big. $4.5 trillion, and the mortgage bonds, that's about one-third of the whole market. particularly with mortgage bonds, a lot of questions about this, this morning, how fast do they deal with that? very, very slowly. certainly start dealing with their treasury bond portfolio before that. a lot of questions unanswered, but i think the important thing is, sending out soothing messages that they're not going to do anything unusual. in terms of the market now, s&p 500, ah, basically flat. up probably two points since that. a brief move to the down side about one or two

our own heavy hitter bob pisani is there live. >> reporter: we had so much fun. no place else that i ever go do you get this many celebrities in one room, but they're trying to raise money for charity. that's what makes it fun. i spoke with derek jeter about raising money to help kids with drug and alcohol problems. i spoke with alex rodriguez about the boys and girls club of america. i spoke with steve, the actor from boardwalk empire, about the fireman fund in brooklyn. he's a brooklyn guy. i spoke with kristen davis, charlotte from "sex in the city." she's the representative for the high commissioner for refugees about refugee problems. she goes all over the world. and i sat down with mayor mike bloomberg, the former mayor to talk about his new book he had out, climate of hope. he's talking about climate change. and here is an interesting comment that he gave talking about president trump reversing president obama, obama's climate initiatives and how it won't make that much of a difference, surprisingly in the long run. >> i hope that he changes his mind when

it depends on earnings like bob pisani was saying. it's always earnings. earnings are getting better in the united states. they're going to be good for the rest of the year and, also, outside of the united states in europe, in japan, in emerging markets. we're seeing earnings growth. so absolutely it's all about earnings so washington makes a lot of noise. but that needs to be on the bottom of the list but it's not affecting earnings. >> david, do you agree with that? >> i do agree. i think you've seen any optimism around policy change be priced out of the market over the past couple of months here. if look at earnings estimates coming back to the theme of earnings, they've been relatively unchanged since election day last fall. so what i think we're seeing is a much healthier, nominal growth story. you're seeing that continued rebound in corporate profits and a fundamental reason for investors to bid up the price of equities. when earnings growth wasn't around from 2014 to 2016, it made sense that stocks didn't really go anywhere. now that the profitabili

let's get to bob pisani. hi, bob. >> reporter: narrow trading range but, remember something, we are essentially at historic highs. we're at historic highs in many parts of the world. take a look at the s&p 500. we have been in this 12, 13-point range for a couple weeks now, frankly. but the important thing is we broke through on friday with a historic close. the important thing overall, too, most of the sectors are continuing to hold up the market. leadership in technology and has been for most of the year. energy is not getting any real help at all. it's still flat the today and given that the oil situation is stabilizing that's a bit on the disappointing side. materials are the weak part of it. a lot of arguments that stocks are priced for perfection and that is certainly true, however, when the facts are almost perfect, there's nothing wrong with having the market priced for perfection. if you look at the earnings situation, they've been rising here and in europe. geo politics has seen a much lower risk. t

let's get to bob pisani on the floor. >> good morning. a nice pop at the open, four points.. let's look at the sectors, was know how ugly it has been for the retailers but as you heard from the guys today, turning it and today. that's good news, and banks were leading early on. they slipped into negative territory. they're up almost 2% this week. tech has been the big leader and energy turned positive. even though oil has been down, even though there's disappointment. perhaps cutting the prices overall. but nothing happened there. status quo was not good enough. on the retailers you heard what was going on. yes, pvh, they raised their guidance. i hope you saw jim's great interview with manny chirico, the ceo. and best buy beat. i think the reason -- you see cigna by the way, a new five year low for signet. but best buy, the reason they had a nice beat is a specific reason and that's gaming. appliances did very well. they were up 4.6%. look at that entertainment that's gaming up 11%. that's the big results from that nintendo switch there. so that really helped put best buy in

pisani. we have a crowd here for the ipo of gardner denver.end of this year, we could see a similar crowd for spotify. but not because it's going to go public in the traditional way through an ipo. but because it is going to list directly here at the new york stock exchange. that at least according to the people who are familiar with the situation. as has been reported previously, spotify is considering and is still currently focused on a direct listing. if that listing takes place which could be by the first quarter or by next year, it will take place here at the nyse. should be an interesting morning for what is of course by far the leader in the streaming of music services around the globe. stockholm based company with a significant presence right here in new york city. currently valued at least according to the last trade in the secondary market at $13 billion. they're not looking to raise capital. in fact, they're free cash flow positive. they're looking to create liquidity for the employees and for the early investors who want to sell. t

carl, back to you. >> i'll take it bob, bob pisani on the floor. we want to arconic.news this morning on this very heated battle between of course arconic and the 13.2% shareholder elliott management which is trying to seat four new directors on the board. we do now -- know when the annual meeting will be. so we have a sense here as to how many weeks they have left to fight. about three i guess or so. may 25th is when they have set the annual meeting for. that's the date at which shareholders will make a decision in terms of -- or by them the proxies will be in in terms of what they see for the future of this board. the other news this morning though is that arconic -- you have to remember last week, telling us they tried to get a settlement with elliott. offering them two seats. willing to put qualified people on the board. sort of a total refresh would have taken place. but elliott didn't want to play ball. well, they move ahead this morning and tell us they have nominated two new directors. former boeing airplanes president and ceo james alba and air force retired

back to you. >> thank you, bob pisani.'s get to the bond pits and rick santelli at the cme group in chicago. >> good morning. carl, as we look towards last fed meeting -- not the last one, but the one in mid march that's the last time we saw two year note yields in the 133 camp. if you look at the 24 hour of tens, as we start the roll into the time zone the little bit of slippage that carried overnight ended. so yields are now up a basis point everywhere on the short end up a little bit more. you can see what i'm talking about. but let's stick with more of a macro view. you can see it looks as though we're -- now hang out in the range we hung out in earlier in the year but let's compare it to europe. especially not only after the french elections but think italy, think germany. they still have all of this yet to come. our chart with regard to the two year euro minus 66, big negative there. but it wasn't that long ago it was minus 76. look at bound, not as much horsepower. the euro versus the dollar getting a lot of pub lis

our mark santelli and bob pisani join us. on a day where there are so many long-term questions, we are not getting many clues. >> a lot of people said this is going to be a political earthquake and move the markets. you can see by the market reaction that basically they are saying, this is a political event, not an economic or markets event. if we see some deterioration in business confidence or something down the road, maybe that's an issue. i heard some people actually try to turn this on its head and say, this may accelerate the trump economic program as a means of putting all of this behind them to move a little bit more aggressively on the tax reform issue. i think that's an plausible an idea as any right now. >> we might have to interrupt you and take you to these live shots as we get them, those shots from the oval. mike, i know what you are going to say. tax reform is just a bonus if we got it. it wasn't priced in. we are moving on everything else. >> i think the market was a good test of exactly that. basically, if i

let's get to bob pisani. >> the important thing is, we are seeing europe clothes.'s look at the s&p, you can see it is a bit slow now. take a look at the sectors here. a number of other parts of the market are affecting us. you notice banks are notably weak. the ten-year yield below 2.3. that's the lowest at 227 since april 24th. that's been a problem for banks. tech, a high beta group week. some support for utilities, like gold. the dollar is at a new low, generally, since the election. that's helping commodities like gold and oil. it is not helping commodity stocks interestingly. market risk, it is important to review exactly what the risks are. the reason we have been holding up so well, earnings guidance has been improving. geopolitical risk outside the united states has been perceived to be lower. what's changed today is u.s. political risk is perceived to be higher. markets can withstand some of the trump political drama but talk of obstruction of justice or an impeachment fight, higher political risk in the u.s. finally, not a lot of new lows or dramatic tec

pisani. the bond pits and check in on fixed income, and anything else, maybe he wants to talk about the brazilian riyal, rick santelli, take it away. >> let's keep this one on the important levels. listen, i hate to get involved in politics but if politics moves the markets as think as it did yesterday, then all's fair in love and trade. look at a two day of tens. you see that low there at 2.18, let's stretch it back to early april. you see that low on the closing basis at 2.17. now let's stretch it back all the way to the end of last year. that 2.17 is the low yield close of the year. now, if we go through there means something. especially on the closing basis. maybe jump the gun. the fact that you kind of hit it intraday, but that's the area you want to pay attention to. bob was talking about the yield curve, kudos. you see the yield curve like everything else was distorted in november. let's look at the two year chart of the tens minus twos. bob is right. it's hovering in the mid 90s but i

mike santoli made his way back as well as bob pisani. people are looking at the retail mess we got this morning. some inflationary pressure. missed technical level 2300. >> retail was a bit of an issue. slight move to safety but not big. yen strengthening against the dollar. there's your classic safety move. gold moves up. ten year yields move up a little bit. i think that's kind of interesting. if you look at the s&p, we're getting more amplitude. we've been talking about how ago nicingly small. usually the nasdaq will move 12 to 16 points a day. today it's about 15 points. normal. we're going what's going on. that's the big thing. >> let's get back to d.c. >> it might never come out. with all the recent talk in recent weeks about whether there is evidence of collusion, i fear some colleagues forgotten that donald trump urged the russians to hack his opponents. he also said repeatedly that he loved wikileaks. so the question is not whether donald trump actively encouraged the russians and wikileaks to attack our democracy, he did. that

bob pisani is there is a special guest. >> btig 15th annual event, raising $45 million for charity inhe last 15 years. talk about fashion icons, tommy hilfiger joining us. tell us about the charities that you're representing here the today. >> well, it's -- the charity is called women of tomorrow. we mentor about 4,000 young women per year. mostly high school students and we help them get to a better place in life. we network with them, we give them opportunities, we show them how to look for opportunity. it's a pretty incredible charity. >> we think of the fashion industry as very favorable towards women, certainly an area where women can excel. is that true and do they need more help mentoring them? >> well, i think mostel young people do. so young women in particular, who are thinking of what to do in the future, you need to talk to people who have done it before, people who are experienced and people who could possibly network them into positive experiences. >> you're now with the pvh group. >> that's right. >> that group includes calvin cline. >> that's right. >> so you're with s

b bob pisani has more on this. >> reporter: the vix is a methodology, it's not a stock for judgeing short-term volatility that can be applied to many different asset classes and in recent years that's exactly what happened. they applied the same vix methodsology to cdoe, instead of the s&p 500, they measured vol estimate for other asset classes, here's a vix on ten-year treasury notes. that's down recently as the prices have been dropping and the yields generally have been rising. there is also a vix for a lot of different commodities, even a gold vix which has been declining as gold has been rallying, although, recently, it's been up as gold has dropped a little bit. there is a crude oil vix which is at the high for the year. this is telling us, traders are expecting oil to bounce around in the next 30 days. i think that's an important one to watch. there is a volatility index for several currencies the eurodollar the dollar yen, a dollar a british pound. you can see the euro volatility index drop notably in april. that was on the french elections. by the way, in recent years, there have been

. >>> let's get to bob pisani tracking the drop, momentary drop, in banks following comments from president trump. bob? >> reporter: we're just about back right now. highs for the day, just off the highs for the day, light volume. take a look at the s&p 500. melissa is referring to that little drop in the middle of the day as the president made a comment he was going to be interested in going back and breaking up the big banks. i do want to point out the big money banks dropped but take a look at citi group. i want to point out the regional banks didn't have that drop for a good reason. they wouldn't be as affected by it. vice president pence made a comment under president trump, dodd frank's days are numbered. lower taxes, infrastructure spending, and less regulations. here he went right to that trump trade and you can see zion's not down as much. sun trust essentially dropped a little bit, didn't move much. a different kind of situation here. banks are still leading and some of the energy stocks are down and, guys, we're hitting 52-week lows on big energy names like petroleum. more on tha

let's get straight to bob pisani at the new york stock exchange.he fear gauge hasn't been this low in a quarter century, bob. >> reporter: let's take a look at it, tyler. why is it this low? it's not that surprising. there's a couple of things happening with the vix. tamm p tampening down volatility. we have advances that are making markets, more hedging methodologies, more ways to buy protection out there that is tamping down the volatility. keeping rates low and essentially encouraging people to buy equities. and we have the fact that risk is lower, just look at the five big risk factors for stocks that are positive in the last couple of months. with the french elections over, the u.s. economy is improving, the fed is out of the picture. there will be two rate hikes and tax cuts are in play right across the board risk is generally lower. is it any wonder that these facts you get this kind of market, historic highs and multiyear highs in some of the other major markets. guys, back to you. >> bob, thank you very much. so let's follow up on that wit

let's get to bob pisani on the floor. >> good morning.ike the market is taking klonopin because of the muted reaction to the whole controversy in washington. let's look at the sectors. energy a bit of a boost. hopefully oil has a bottom around 45. we'll see. tech's leading. always been leading. banks are a little weak because of the slight uptick in the ten year yield. no bill movements here. a lot of people are saying that the market's mispricing risk, i don't know. people yell at the stock market. i don't yell at the stock market. i think dan clifton over at strat agus had a good point, the comey story is a political story, not a market story. that's the adult way to look at this right now. they go on to say, look, we have to watch business confidence. i agree with that. the inability to enact the agenda can move the needle in the wrong direction. we'll watch the business confidence. that's what matters. meantime, we're entering earnings season for the big retailers. its isn't going to be a good one. you know what's been going on for th

bob pisani has more. >> good morning. been away for a few days been a great four days.k at this. the s&p up 46, 47 points in the last four days. that's about 2% move for the s&p. we are what 24.05 so five points away from a new intraday high. the banks have been up since i have been away. the ten year yield has been moving up here. they have been generally up almost 2% for the week. it was up on the open. tech and leadership. energy not doing anything. of course you know what's going on with retail. look at citigroup, 1% below a new high. most of the banks aren't there. but that's been doing very well and holding up throughout the middle of the year. you know what's going on with the retailers, the miss on the top line of tiffany's. same-store sales weak. comp, i can't emphasize it enough. look at the comp sales different. lowe's, home depot 6 3rs %. a lot of people are trying to figure out what that means. the obvious answer is they're ceding share to the bigger contractors that go to home depot. that seems to be the obvious reasons. nobody has said it's anything other

let's get to bob pisani on the floor. >> good morning, guys. happy wednesday.hing about today, tech under a little bit of pressure but not that much. let's look at the sectors. banks still having a tough time. they're leading to the down side, but not that much here. semiconductor stocks also weak, i'm talking about the ssd here to this point. and consumer staples you see a more defensive tone. that second line there, that's the semiconductors. europe is mixed but you see the semiconductors a little bit weak. this seems pretty obvious. it's likely related to apple. ams and stm that are over in europe, some of the other ones like dialogue, also a bit on the down side. these are stocks that trade over in europe. here in the united states, some of the apple suppliers a little bit on the weak side starting broadcom, these are the usual names associated with apple. sir us logic. analog devices. all to the small downside with apple down more than 1% right now. good time to review those f.a.n.g. stocks for the year. remember jim cramer coined that term a number of yea

we'll worry about our edibles over here and send it for now over to bob pisani for more on what's movingmorning. >> good morning. happy friday. we started off great. every sector was up on the up side. look at the energy. what a mess it has been all week, but it's up slightly over 45 on oil. consumers all up fractionally. we have been talking about ibm. the guys are talking about it. down 3%. i want to point out something very important. ibm is in the elite point of stocks who have been aggressively buying back stocks for years and years. today they have $939 million, they have dropped the account by 60%. and even since buffett has been owning them in the early 2000, they had 1.2 billion and dropped 25% in the last five or six years. what does that mean? it means all other things being equal, their earnings reduction, earnings look 25% better than five or six years ago and 60% better than in the mid or late 1990s. a lot of the arguments about various ways of changing your earnings to make them look better. financial engineering here. earnings are still looking good. keith learner at sunt

we get earnings, bob pisani, first one from snap, a stock that's done well since ipo, up 23%. 20th centuryand elf beauty. >> elf. the beauty manufacturers have done well. coty has done well. we've seen some of the other ones out there that have done very well this year. ulta has done really well. >> ul tau is on fire. >> we will get cohl's, jc penney on friday, and macy's as well. >> twitter is all aflutter. it is eyes, what the e is about. >> eyes. what did i say? >> you think you said ears, which can be very attractive but it is not what they're after. >> eyes, limbs and facps and fa. the important thing is 20% of the retail companies reporting this earnings season will lose money. 60% will have lower earnings than the first quarter of last year. this is according to ken perkins over at retail metrics. so it is a remarkable series of events that have been occurring in the last year or so. sometime inflection point, we want to hear what the retailers are saying. meantime, the big energy companies had a great day. again, for the second day exxon and chevron were big movers in s&p. that has

let's get to bob pisani. >> good morning. europe and asia are on the mixed side.st is here in the united states. let's look at the mark leadership. we're getting some rotation. started last week. guys mentioned energy. big loser has been moving up. banks have also generally been tough this year. they have moved up big in the fourth quarter. not so in the first quarter. retail another loser. see this rotation? all the losers are leading today. tech is the big leader. health care has done very well. they're fractionally on the up side. oil up $2. you heard about that saudi arabia and russian agreement, all the big oil names are up nicely. this bodes very well for this sector rotation. look at the groups this year. we all know tech had been doing well. consumer discretionary is a big leader. industrials are lagging. remember the industrials are up 7% and banks and energy but we have had a lot of rotation. this has kept the market strong so now recently, energy has been doing a little bit better. maybe banks will pick up steam a little bit. and industrials were strong

let's get to bob pisani. >> a mixed market. good morning, happy thursday, carl.ce to see energy back a little bit. believe me after weeks and weeks of lagging and oil at 45 and a lot of worries that it was going to 40 really fast. it's turned around this week. health care, sort of mixed open. kind of disappointing the banks were down because ten year yields moved up a little bit on the headline producer, price index. nice to be a little bit of a inflation, coming back. speaking of inflation, oil. commodities looking a little better. d.o.e. oil inventory -- oil is coming back. what a roller coaster it's been. $54, we go back to $45, then we go back to $54 and then back to $45 or $48. we're all floating around here. the question is where's the real number, we don't know. but moving towards $50 is certainly a lot better news for the oil companies. they're all up this week. all up today. marathon's probably up 4 or 5% so far this week. exxon's up fractionally. i know marathon is definitely up 4 or 5% on the week. it's nice to see them turn around. the estimates are s

let's a get to bob pisani on the floor. >> happy friday, carl and everybody.e bit of a breather, let's look at the sectors. remember the market leadership. it's been technology and to a certain extent bank stocks in the last week. it's ooet -- you see they're pulling back a bit. oil is below $50 so a little more defensive. staples and the utilities leading this morning. we have had a six day tear, not an awful lot of news. remember what happened the 17th, the markets were down 370 points in the dow. since then, look at this, the dow transports is up 4%. this is in a week. nasdaq up 3%. new highs, s&p is up 2.5%. even the russell 2000. lagging a bit versus their big cap guys also up 2%. this is in a week, folks. now remember the stock market isn't a person, but it definitely has moods to it. they go -- the market goes through moods. right now a clear mood in the market. i don't want to hear it. i don't want to hear about the problems that are out there. so for example, on the trump agenda slowing down, we know the comey russia issues aren't going away. they can

i'll highlight it with my friend bob pisani. welcome back.e bell tonight. >> we are getting a bunch of retailers. obviously what happened with tiffany's was not well greeted by the market. i want to start with the s&p 500 because normally fed minutes don't move the markets, but about 10 minutes after it did. we have a big balance sheet, 4.5 trillion. they're not buying anymore, but the fed essentially saying they're going to cap the limits of how much they will allow to roll off. it is a little complicated but basically the fed saying we're going to be very slow in how we deal with that balance sheet. we're not going to be selling anything, any rush at all. i think the market responded to that. we moved up. it took a little while, i was surprised, about 2:10, 2:12 the markets moved up and as you see we will close at a new high, up five days in a row. haven't done it since february. >> that's true. a lot of major averages doing that today. good to have you back. record for the s&p. get ready for all of those earnings and the very important con

this morning, emannuel macron's chief economic adviser, jean pisani—ferry, told me he's optimistic thatle to get a majority in next month's parliamentary elections. i think the time for celebration is over. already? that was yesterday night. the time now is for preparation. the transition is extremely short, a week. the task is huge. so it is time to work. extremely short, a week. the task is huge. 50 it is time to work. the time huge. so it is time to work. the time is all the more huge because as we know this is a new political movement. you have no mps within the parliament and in order to carry out reforms, you will meet parliamentary support. sure, it starts with the parliamentary election, that comes very quickly. this huge task of campaigning, of appointing candidates that have not yet been announced. most of them. for them to campaign and at the same time for the government to start, for the temporary tra nsitionary the government to start, for the temporary transitionary government to start working. moreover, the outcome of the election is really a mandate for something signifi