Healthcare bill is a jobs bill. We have seen that, the effect of obamacare on the economy and jobs is downplayed under the administration. There was little gdp growth and that was tied directly to obamacare. We are seeing Small Businesses talk about how they are excited about regulation and taxes and mandates such as 150 employees come you have to provide Health Insurance to your employees, they werent hiring so dont want to go over certain thresholds laid out in the obamacare legislation so they are positive about it. Small Business Owners say this is one of the biggest wet blankets on the economy and they look forward to it being gone. Arthel the employer mandate encouraged companies to not hire fulltime workers, it encouraged companies to hire parttime workers to avoid that 50 employee threshold. By that logic there would be no more coverage by employers at all. Anytime an employer by selfinsurance you slow down hiring, that is already that said some of these changes will improve th
Shanghai composite down by a third of a percent. In europe, already seeing that there are some advances there with the dax up by 0. 9 . Cac in france up by 0. . Ftse up 0. 6 . Watching treasury prices. Tenyear yield on the treasury hit another two week low. We have been keeping an eye on crude oil prices. Yesterday down by nearly 3 , settled at 44. 67. This morning a gain of 20 cents to 44. 87. In political news, a stop gap spending bill that would prevent a Government Shutdown this weekend has stalled in the senate. A number of democrats voted against the measure because it does not provide money to fix Drinking Water problems in flint, michigan. Some republicans opposed the bill because of lack of zika funding, and oversight of the internet. Senate leaders said they would exemplmroplore an alternative. And John Williams argues the u. S. Economy can hahnal a rate hike, its hard to justify rates being so low. Williams addressed fears that a hike would cause volatility. He said an easy
One stock getting a big upgrade today thanks to, get this, brown shoes. Lace up, ladies and gentlemen. Power lunch starts right now. I cant get enough yeah, yeah and welcome to power lunch. Im melissa lee. Three hours left in the quarter and stocks are firmly in the green. Were just about two points off the session highs in the s p 500, which is higher by about. 9 . Financials really helping the lead, to lead the day, thanks to Deutsche Bank. Good news there potentially. Semiconductors a big standout. Theyre on pace to close out their best quarter in 13 years. I am brian sullivan. Here is what else is happening at this hour. Hurricane matthew strengthening. It is now a category 3 storm in the caribbean. It is expected to make landfall in jamaica by monday. Consumers getting a little swagger back last month. Consumer sentiment topping expectations. And your sweet tooth can celebrate. The peeps who make those marshmallow peeps going back to work. What is that sound . Dentists everywhere
Thanks pen. Oracle Ceo Larry Ellison is in the spotlight after the bell. His software for misses analyst estimates. He is trying to put transform oracle into a cloud performer. Shares of blackberry rocket higher. The company came out with news it had a narrower loss as the ceo gets traction from restructuring. Carl icahn has disclosed a stake in Family Dollar and put out a call the retailer should be put up for sale immediately. He is saying this would be a Significant Interest in strategy. Those are the top headlines. We begin with speaking about iraq. President obama, sending up to 300 military advisers to iraq to a with the situation in the country of American Forces would not be returning to combat. As insurgents close in on the capitol, the president said it is in americas interest iraq does not dissolve into a civil war. Iraq you leaders must come together around a plan for iraqs future. Shia, sunni, kurds, all iraqis must have confidence they can aspire through the political pro