Money to keep the government running is the one thing we need congress to do. Pretty much Everything Else is optional. Passing a spending bill is doing their minimum. We learnt a lesson during the october 2013 government shutdown, we cannot take anything for granted when it comes to how low some lawmakers will stoop to prove a political point. Back then, it was republicans trying to undermine obama care, but thats the past. Now lets look at the present. And how this sausage is getting made. Today the house past a 622 billion package of tax cuts that will make permanent a bunch of breaks for businesses, investors and individuals. The billion support from republicans, but Democratic Leaders opposed it on the ground that it doesnt do enough for low income workers. The tax cuts are part of a budget deal that includes a 1. 1 trillion spending bill. The house is expected to vote on that 2,000 page monster bill tomorrow. And here is where it really gets interesting part of the horse trading t
Right now we are at session highs. We have been sticking to those for most of the day, especially after some data that came out this morning, including betterthanexpected u. S. Consumer sentiment and the drawdown in u. S. Oil inventory, a surprise drawdown, really. Lets look for the board is right now. Lets go ahead and take a look at the daily intraday chart right now, if we can do that. This is the oneyear right now. The dow is up more than 100 points for the sixth time in eight sessions. At the same time, the s p is well on its way to the second threethey rally. Take a look at the s p yeartodate, hopefully we have that we are now in the green for the year. There we are, about 0. 25 of. If we can hold onto that, we will be on for four years of gains for the s p. This is just happening today. Some really interesting developments today. So much of the days market events have happened because of oil. Nymex crude is up three days in a row, and it is still climbing, up 4. 25 . This is off
Species, establishmentarians. Ted cruz is thinking about his strategy beyond the primaries. This week, the texas senator kicks off his tour of key southern states, and he announced the endorsement of the influential evangelical leader. All this has donald trump headlining the headlines again. Today the donald got love from russian president vladimir putin. He seemed impressed with his fellow alpha male when speaking to reporters after his annual and always delightful press conference in moscow. He is a very colorful person, talented without any doubt, but it is not our affair to to determine his worthiness. That is up to the United States voters but he is the leader in , the race and wants to move to a different level of relations to more solid, deeper relations with russia, and how cannot russia welcome that . We welcome that. As for the internal political issues and the terms of speech which he uses to raise his popularity, i repeat, it is not our affair to evaluate them. John all ri
It is worth noting that the january wti contract expires today so you very likely will see higher prices for wti tomorrow. In the meantime gasoline prices dropping four cents over the last two weeks. The lundberg survey puts the nationwide average at 2. 06 a gallon. That is the lowest weve seen in over six years. With more on the oil story and whats happening with the markets in just a moment. But, first, a developing story outside the world of business. At least one person was killed, 26 others injured, this after a car crashed into a crowded sidewalk on the Las Vegas Strip. Police say the vehicle drove up onto the sidewalk in front of the paris hotel and casino, hit a car and then drove back onto the sidewalk and hit more pedestrians. Investigators think the crash may have been intentional but say they are confident this was not an act of any terrorism. A 3yearold was in the car with the driver. The driver did leave the scene but has since been taken into custody. Is being interviewe
Closely. Crude is back below 37. There hasnt been a rate hike since 06. That decision will come out at 2 00 p. M. Eastern time. Chair yellen scheduled to hold a News Conference a half hour later. Cnbc will bring you complete coverage of the big fed event. Reminders of where we were on pop culture on june 29, 2006. Its been a long journey. Its been a long journey this year as we agonized about whether or not they would raise rates. During the course of that year, the stock market is basically more or less where we started. The tenyear treasury is basically, after this back and forth during the course of the year, basically back where we started. The big mover is the dollar index. The euro down 9 . Thats partly you what see in the corporate earnings. You do have oil down sharply. You have the junk bond market reeling despite the fact that Interest Rates have been so low, we have seen record high yield issuance this year again, emerging markets are weak again. Weve been asking the questio