Stocks giving up early gains ahead of the tax vote. The dow transports did manage in an intraday record high before turning lower. Energy and Consumer Staples the best performing sectors. Real estate utilitys the biggest laggards as we are seeing the biggest rise in the ten dayyearold darden restaurant rallying, beating earnings estimates navistar is soaring to 10 the truck maker comfortably beating profit estimates revenues also beat navistar calling 2017 a breakthrough year of the company. Shares of chicago iron tanking, being bought by Mcdermott International for 6 billion in stock. The two companies provide construction and Engineering Services for the oil and Gas Industries that stock down almost 7 . Thank you very much, melissa. Welcome everybody, im tyler mathis mathisen we begin with breaking news. The house all set to vote on the big tax bill in the next half hour the biggest change to the u. S. Tax code since 1986 or thereabouts. It will affect every business and every househ
Happening in washington and focus on wall street the capital can be a disturbing side show. The truth is, theres a tremendous disconnect between what our leaders are doing and what our stocks are doing. That really matters. On day like today with dow gaining and s p advancing. 12 to record close and nasdaq ending flat, very much in the grips of washington. Even though after you hear this top monologue, i think youll agree we shouldnt be. First complain how political news interacts with stocks in general and then drill down to the specifics. Facts. Biggest single legislative push out of of washington this year is effort to repeal and replace obamacare. Maybe thats not how President Trump wanted it to play out. I think he favored tax to promote economic growth. Did he compromise with republicans in congress . Did his allies hijack the agenda because hated obamacare so much couldnt think straight . Doesnt matter now dodge. If you hear ryan talking about putting it back on the agenda, tax.
First we start with one of the most important deals in media history. Disney has been holding talks to buy some of the largest assets of 21st century fox. Our own david faber broke the story today. David has more on the developing story. They may be emboldened to reengage there was a lot more yet to go, and they are not holding them at this very present moment it was unclear as to exactly why they had halted the conversations that, as you indicated, had led towards the potential deal under which disney would have bought many, but certainly not all of the assets of fox. In fact would not have bot many of the key cashproducing assets of the company, what would have been kept and what would be kept under fox if and when they talks are revisited, what would be on the right of your screen fox sports, which cannot be merged with espn in part because of the antitrust concerns. Fox news, fox broadcast network. Many are the cash flow, did you what disney would have conceivably ball is also larg
President trump was elected, and his most important piece of legislation hangs in the balance, tax cuts. And well hear from one republican congressman why hes voting no. First, one of the biggest deals of the year between at t and time warner, worth about 85 billion, could be in jeopardy following pressure from the department of justice after a series of threats from the Trump Administration lets bring in our own Andrew Ross Sorkin who helped break the story, he joined us on the the fast line. Andrew, whats the latest . Reporter a back and forth now turning into a public spat between at t time warner andth doj. What were hearing now or what we heard originally was that the companies were trying to or that the companies were in touch with the doj and the doj had said look, the only way the deal is going to go through is if you sell cnn and the turner assets or you sell directv. That was something obviously that at t and time warner have thus far been unwilling to do, they felt the deal