Us treasury secretary janet yellen called the downgrade arbitrary and said Economic Conditions had improved under the biden administration. The news of the downgrade came after the close of trade on wall street but in asia investors have been pulling out of equities in reaction. Lets look at markets now in asia. Japan is currently down by over 2 . Hong kong not that far behind. This was off the back of yesterday, and most of this week we have seen the sharemarket, certainly wall street and asia having a strong session but this is certainly spooked sentiment. Lets discuss this with tom stevenson, whos an Investment Director at fidelity. Good morning. Janet woody allen saying this is arbitrary. I have her statement janet yellen and she said she strongly disagrees and says it is based on outdated data. That is based on outdated data. That is riuht. Is based on outdated data. That is right it is based on outdated data. That is right. It seems is based on outdated data. That is right. It s
So already i want to please have your attention again. Welcome back. It is now time for session five and this session is entitled a historic tax cut campaign. This panel will be moderated by steve forbes. Mr. Forbes, chairman and editor in chief of forbes media, mr. Forbes campaigned vigorously the presidency in 1996 and 2000. Hes the author of several books, including most recently inflation what it is, why its bad and how to fix it. Forbes is a trustee of the coolidge foundation. Please join me in welcoming mr. Forbes and our. Thank you. Sir. Zara. Yes. Good. Thats on. Yes. Well, thank you for mentioning the book yesterday. Several of the Panel Participants made commercials for their books. You can find eight of mine on amazon. And so thatll help cover my train fare the next i come down here. If you buy it from me today, give you 2 off for cash. But it is. Theres a good fun to be here. Good morning. Thank all of you for participating. Thank cspan audiences as well for listening in on
Neil pay attention, who knew Freddie Mercury was 40 years ahead of his time and that box, four decades since that queen song hit the airwaves. The dow at that time was around 1100. Not 11,000, 1100. Today the dow is teasing 40,000, you heard that right too, 40,000. 40 times what was then. We do the rough man for you sometimes using calculators. The dow has already been there, just cant close it. You might say its trying to you guessed it, break free. See what we did . That is what we do. You are welcome. America. We had some fun with that. I remember vividly that song right before i got married, i love love love it. On this milestone mission friday, thats what we are focused on, wanting to break free, to close 40,000, less than 99 points from there. Lets go to music and otherwise. We make a big deal of attempts to break into a milestone. Often there are several events, a lot of them. We will definitely go through whether it is today, next week or most likely before the end of the month
A little bit of green. A lot of green yesterday, more today, dollars up 3, nasdaq up 18, 10 year treasury yield has been going down at a lower level, 4. 37 . Oil close to 80 a barrel just shy of it, 79. 40. Bitcoin, 66,289 as we speak. Thats the market and now this. In beijing, Russias Vladimir Putin is getting on fine with chinas xi jinping. They are shoring up the new world order against us. In ukraine, zelenskyy canceled foreign trips, he needs to stay home because Russian Troops are advancing on several fronts. Ukraine could lose. Gaza, hamas fighters returned to the northern part of the strip. Leaders and hostages are hold out, holding out in rafah. Hamas is winning the pr war. Four years ago there was no new world order, russia had not invaded ukraine and hamas had not attacked israel. President biden must take some responsibility for what has happened. These world changing events took place on his watch. It started with the disastrous retreat from afghanistan. Biden looked week
Ashley no robot could ever replace charles payne. Thank you very much. Good to see you. Time to crank up the duke box. Bad news is good news onp and nasdaq trading at alltime highs, up to the Consumer Price index, lighter than expected. We are on record watch for all three major averages, the dow needs to close 249 points to make history. It is on course, up 274. The s p has had an intraday high, finishing 7. 7 points to set a new mark, 53. 49. Any game for the nasdaq will be a second straight, it is up 250 points. The green on screens likely on rate cut hopes, the april cpi more than expected month over month with annual expectations, poor cpi met expectations coming in at 3. 6, the smallest annual cpi growth in three years and the slowing economic picture retail sales for april coming in month over month after wall street was expecting a 0. 4 rise. Neil cashcari says americans are spending more than he expected. Rates probably need to see where they are until more inflation data is c