Today. We start out of with the fed staying put. Jerome powell signaling the rates will stay near zero through 2023 stocks getting an initial pop, but reverse course as the fed share took questions from the press. Steve, what was it, do you think, that spooked the markets . You know, its always hard to know maybe one of those sell the news things there was a bit of history in the statement where the fed for the first time put in the statement that its new goal is to seek inflation above 2 that was in the longterm policy strategy but it had not yet been in the statement. This is the first statement following that change. It was a bit like there was nothing behind it in the sense that, the question that i asked, i said, well, how come your forecasts dont show you hitting the goal, not even in the fouryear horizon here the fed chair didnt really have a good answer for that you would think if you said, you know, im going to move this tanker faster, you know, youd be pushing the throttle do
Delays from washington from the trade deal to the stimulus negotiations, deadlines and expectations being pushed back the weve got 59 minutes left to go in the trading week s p 500, 16 points from a record close. Down right now, jon. Still higher on the week everyone except the nasdaq great to be with you this afternoon. We have a big show coming up to finish out the week. Were going to speak with minneapolis fed fred neel sakashkari and later, as stimulus talks grind to a halt, well speak with Maxine Waters about whether there is any compromise to be had. Plus, shell discuss a new bill encouraging the fed to use authority to close the racial wage gap in this country mike santoli is tracking the Market Action. Start us off on the broader market. You can call it resilient or fatigue or really anything a standoff here at the record high levels of the s p 500. The past four days have basic clind of touched it or been shouting distance of it. The were just hovering there. Up 3 or so month
After officials celebrate positive results from a gilead trial. The data shows that remdesivir has a clear cut positive affect in diminishing the time of recovering this is important for a lot of reasons. Socgen gals. It triples provisions and suffers poor performance at Investment Banking business. Nokia takes a 200 million euro hit saying 5g will be an ongoing boost to demand. Elsewhere to facebook focusing on the positives shares jump in after hours trade as the social media giant said ad revenues made a come back and monthly users neared the 3 billion mark we are not immune from this crisis we did see a steep decline in advertising revenue starting about the first week in march. That has continued weve seen some more recent stabilization. A warm welcome to street signs, everybody. The French Economy has suffered the deepest contraction since world war ii meanwhile spanish gdp data also showed that economy slumped 5. 2 , quarter on quarter as the virus brought the countrys economy t
Josh lipton joins us with a look at the incredible stock, the incredible year. Hey, josh. Reporter carl, thats right. As 2019 comes to a close, apple investors have plenty of reasons to celebrate that stock has enjoyed a remarkable run surging more than 80 this year. That means apple is on track now for its best year since 2009 another way, it added 530 billion in market cap this year. Thats the equivalent of two netflix, three teslas, with a few billion left over. The nasdaq is market cap weighted, given apples size, it helped to power the index to a record 9,000 level today, most Analysts Covering apple rate it a buy. Nearly 60 in part because they think tim cook with the current lineup of devices will be able to keep iphone revenue relatively flat the next few quarters, even as services and wearables continue to go strongly theyre betting that should be enough to drive Single Digits growth for the company what are the risks for investors to consider . I caught up with gene munster,
Any background noise . Member, please mute their microphone. Going through documents and records please, email documents, im going to abbreviate my opening statement. I will put the full statement in the record given the fact that you probably cant hear me and understand me and im having trouble, you know, this is the second hearing, last hearing was in industries takeholders and we heard a distressing and serious gaps, shortages of several personnel, lack of even the most basic hygiene practices and a consensus among our witnesses that federal government needed to help the private sector which owns and operates 85 of the patients Critical Infrastructure to defend itself and respond to attacks. You know, the bill 3684 will provide funding at the local, state and federal level to enhance response to Cyber Security incidents. It improves the national highway system, other Transportation Systems, capabilities and established office of National Cyber directive to the principle advisory on