Lets get to it. Good wednesday afternoon from the deck. Senate leaders say they now have a deal. A deal to prevent another government showdown tomorrow night. But the top democrat in the house of representatives is threatening to derail it. Nancy pelosi has been speaking nonstop on the house floor for the past five hours. The House Minority leader says that democrats will not approve a spending bill unless the Republican House speaker, paul ryan, promises a vote to protect the dreamers. They are, of course, the hundreds of thousands of immigrants whose parents brought them to the u. S. Without documents. Unless we can get the same commitment that Mitch Mcconnell gave the Bipartisan Group of legislators who asked for it in the senate, we would like that same response to our Bipartisan Group. Shepard a spokesperson for speaker ryan responded saying speaker ryan has already repeatedly stated that we intend to do a daca and Immigration Reform bill, one that the president supports. Daca is
Were finishing. Some trades settling out. Another volatile day in the markets. Look at the s p 500 and the nasdaq, a similar pattern. You can see the same rockiness throughout the day. But one thing i want to highlight as well are these tenyear yields. So up again. 2. 87 . You know, this is settling a little bit. This is what we talked about last week when we had the stronger than expected print on the jobs report. The idea of Wage Inflation having gone nowhere for almost a decade and accelerating quickly and pushing the treasury yields up and making everybody worry that the fed is going to get in here, be more aggressive and there fore make borrowing more expensive. Youll see behind me the oil trades. This is the price today. Its a fourweek low. A lot of that based on inventory. Copper being hit as well. So just this whole kind of volatility, the main line here is its not just about stocks. Its hitting every single kind of component. Every element in the market that we follow. One las
Mexico beach home, one out of three was 65 years old or older. The size of the town but two square miles. 20 people were rescued overnight. Today the governor of florida, rick scott, is saying dont even try to go back. Mexico beach or what is left of it is largely inaccessible by land as fox reports this hour. The scene like one resident described it, something right out of a war zone. Nothing left. Foundations and lots of trucks in the roads as they try to get the power back on and see if they can rebuild this Beach Community just east of panama city, just east of Tyndall Air Force base, just east of where the eye wall came ashore and changed the landscape in this tiny sliver of northwest florida. Mexico beach as they knew it is gone. Thats just some of what were seeing the day after the hurricane. Im Shepard Smith in new york and this is Shepard Smith reporting. I want to show you that same canal, the same canal as it looked yesterday. Heres mexico beach just east of panama city. I r
Recent highs. We actually bounce off the lows of the session. We were down triple digits a few hours ago. So a bit of a reprieve and a lot of volume at play. Higher than average for people to sell. Thats a bit concerning for the markets. Here the nasdaq, its about technology. The selling has been about technology. Were coming off the worst day for the nasdaq since brexit. Taking the brunt are the fang names, facebook, netflix, google. You want to talk about facebook and netflix and pretty stoop declines for amazon. Trading at 1,700 apiece. Some are calling a bargain. Lets talk about financials. Its all about the concern over rising yields, higher Interest Rates. What does that mean for the average consumer and the car loans and the like . This is september. We saw lower than expected inflation. That means higher Interest Rates were diminished nor december. So now the probability according to traders, 78 that well get an Interest Rate hike in december and 33 that well get three Interest
Then a republican who has a real shot at the bluest of blue states of connecticut, and a story that grid lock is a lock in his mind in a red and Blue Washington and why they say grid lock will be a gift for investors way beyond washington and then forget about the troops headed to the border. Have you heard about the Record Number of legal immigrants becoming u. S. Citizens as we speak . We didnt think so. The news you are not hearing on this show you need to be watching, especially now, this weekend, ahead of the big vote where anything could happen and history proves often does like back in 1980 where jimmy carter and ronald regan were neck and neck at this point and then suddenly were not or in 1994 when democrats never thought they would lose the house and suddenly did. Funny thing history, funnier ignoring it not now, not ever, too much going on is lets get going because cavuto live starts right now. All right, lets get ready to rumble and to run. The president is set to leave ind