Saying. We are getting headlines out of the iea. It depends on what is happening in the middle east given what has happened in iran and the last 15 days. The International Energy agency saying the oil supply is a vulnerable as middle east tensions flare up. Ieas always good to see the thinking. You can see the brent. Stocks are gaining 0. 4 . We are we have to see and i will show you later that we have a tight range when it comes to treasuries and dollar pound. Significant one because there is more bets that the bank of england will cut rates in january i believe january 30. Coming up, we hear from the chief executive of allianz. Something you do not want to miss. That is coming up a little bit later. Lets get to first word news. Viviana we begin here in the u. S. , the house of representatives sending two articles of impeachment. It is the first step to begin Donald Trumps trial almost certain to end in acquittal. Chief Justice John Roberts of the u. S. Supreme court will preside over
Overall, stocks are moving slightly higher ahead of the opening bell. Remember, this is a shortened day of trading because of the july 4th holiday. The market closes at 1 00 p. M. Eastern for the fourth of july. We are remembering an icon in the Business World. The ultimate salesman of all time, lee iacocca, has died at the age of 94. Hes best known as the father of the mustang and for saving the company chrysler. Well have much more on his impact throughout the morning. Varney company starts right now. David President Trump is changing the annual fourth of July Celebration in the Washington Mall thursday. It will include a flyover by military aircraft, more fireworks and the president will even give a speech of his own. The president is already tweeting about it. Quote, our july 4th salute to america at the Lincoln Memorial is looking to be really big. It will be the show of a lifetime. You can bet on that. Joining us is brad blakeman, former Deputy Assistant to george w. Bush, and so
The how john conyers is responding to claims that he used taxpayer money to settle a complaint overSexual Misconduct. Internal revenue scandal. New fallout after the irs targeted members of the tea party. Why lois lerner doesnt want you to see her testimony. David even though it affects us . Right. David that we can all agree on, a great news day for you if you have any stocks at all, or 401 k in stocks, youre making money today. The dow ending the day with 60th record close under President Trump. Nicole petallides on floor of new york stock exchange. Some of this enthusiasm scares people. Boy, oh, boy, seems like there is no top to this market. Thats right. You cant stop it. For the most part weve seen gain after gains, thousands of points since the election in november. Today we move up 160 points. We have a record alltime high, for the Dow Jones Industrial average and also the others as we noted. Nasdaq, s p and russell. There was a lot of obviously, we came in with a positive stone
American people, a giant tax cut for christmas. And when i say giant i mean giant. [applause] David Connell mcshane, with us now. Connell, this was the president s final sales pitch to america an capitol hill. The house and senate will vote on a bill next week, right . Reporter that is still the plan, david. Interesting to hear what the president was on all of this, although updates weve been getting past couple days are focusing on tax rates for upper income people and also for businesses, the president this afternoon kept his focus where he has been in many speeches we heard him deliver, that is on the middle class. Invited up a number of families, middle class what they hope to save what they hope to do with the savings. He delivered what he described as breaking news. If Congress Sends me a bill before christmas, the irs, this is just out this, is breaking news, has just confirmed that americans will see lower taxes and bigger paychecks beginning in february. Reporter this speech j
For a temporary spending bill. The crucial vote could come within the hour. Well bring that to you live. Meanwhile, more companies are announcing plans for how they will be spending their tax savings. Trillions in tax savings but does it all translate into more jobs and growing wages for you . If you thought traffic was bad at thanksgiving, wait until you hear the latest what to expect this holiday weekend. Melissa oh, no. David yes. Melissa you need cocktail. No, im kidding, not if youre driving obviously. The dow surging to a new record high after two days of losses getting a big boost from the highest Third Quarter gdp reading more than two years, three years. Up 3. 2 . This is the first tame weve seen backtoback quarters with more than 3 growth since 2014. Lets go straight to Nicole Petallides on floor of new york stock exchange. Nicole, where the major afterring as, theyre back in the green. There you go. As we look at record closes for the dow, it had to be above 24,792. Oh, no,