First a check in on the market the dow lower by nearly 300 points moved low er perhaps by the fitc rating plus, some street talk around discover financial the company ceo resigning. That stock down more than 10 . Also, good news, bad news. The good, Warren Buffett adding a stake in the stock bad, home Builder Sentiment dropping sharply with rates over 7 . We begin with the warning from fitch the firm saying it may be forced to downgrade dozens of banks, big ones, including jp morgan chase, coming after recently downgrading the United States credit rating. For market reaction, lets bring in doug butler, director of research at Rockland Trust what has got fitchy feeling so well, i could rhyme but i wont. Ill also not go there. But again, fitch downgrading the banks, very core lair to what they just did. Its their really negative on the government and theyre taking this as a broad swath theyre saying the Banking Industry as a whole and greater problems which is why they would hit jp morga
Launching its ipo road show, a blockbuster deal which could value the company as much as 52 billion. Were watching media names, wbd warning of prolonged impact from the strike while disney fires its latest volley in its dispute with charter. Its great to have cramer back in the chair. We missed so much last week, between lulu and the china names and chewy and wolf. First of all, its great to be back. Thank you for the wellwishers. It was a triple hernia. I managed to come through it in a way that i feel very, very strong. I always love september in our business because everybody does come back to work except for the people that still work at home. They want to get back to work. There are a couple of points we have to talk about. One is the bonds are going the other way. Thats going to be septembers headwind. Again, the Interest Rates are up. I think were making much too little about the strike, the uaw strike. By the way, the writers strike, obviously for Warner Brothers is important.
Daughter who were freed by hamas, a rare glimmer of hope for the more than 200 hostages still stuck in gaza. Kevin mccarthy calls it embarrassing, the failure of House Republicans to agree on a successor for the ousted speaker. We will have the latest from washington, d. C. It was supposed to force big corporations around the world to pay their fair share, but the global 15 minimum tax is proving hard to implement. Cnbcs Arabile Gumede joins us to tell us why. And we will tell you about the Dallas School bus driver who is being hailed a hero after saving a boy from choking. Its monday, october 23rd. Early today starts right now good morning, im phillip mena. And im frances rivera. Western leaders have issued a joint statement urging israel to adhere to International Humanitarian law in its war in gaza the leaders of canada, france, germany, italy, the uk and the u. S. Stress that civilians need to be protected since hamass attack on israel two weeks ago more than 4,500 people have been
How it could cost House Speaker Kevin Mccarthy his job. Trump trial. The former president says hell be in court today to fight back against a case thats threatening some of his biggest real estate holdings. And californias new senator. We are learning who will take over the seat left vacant bay by the late dianne feinstein. Good morning, and good to be with you. Im annemarie green. We begin with a battle brewing in our nations capital, but unlike most d. C. Shutdowns, this one involves members of the same party. Not long after helping pass a shortterm bill to fund our government, representative matt gaetz is threatening to try and oust Kevin Mccarthy this week from his role as House Speaker. Mccarthy is saying bring it on. Cbs jarred hill has the latest from new york. This is interesting. Good morning. Reporter yeah, this is something right here. So florida congressman matt gaetz is saying that mccarthy breached agreements that he made with republicans in how he went about averting the
Lawmakers. Stop playing games. Also, the Battle Brewing for Republican House speaker Kevin Mccarthy to step aside. Lawmakers within his own party angry to work with democrats to pass a temporary measure. So it be, bring it on. Lets get over with it. Trump on the trail before his trial. The former president expected to face a judge monday in a civil fraud trial in new york. What the outcome could mean for his Business Empire and political future. Skateboard recall. The onewheeled models linked to at least four deaths. Plus, its time to pay up. As the pandemic pause comes to an end, millions of americans are expected to start making payments again on their federal student loan debts. Former president jimmy carter turns 99. His family plans to mark the milestone. And later, the greatest day in hiphop history. How the stars aligned 25 years ago for a picture paying hochage to homage to the Trail Blazers in jazz. We knew that was history. This is the Cbs Weekend News from new york, with jer