The stage is set for him to run for president in 2016. Dont forget about the continuing obamacare disaster. Todays problem comes from the Insurance Companies on the federal exchange. They say the administration is forcing them to retroactively cover people wo dont sign up in time, and they may not be able to make it happen. A day after these angry tech ceos complained to president obamas face about nsa snooping, it now look like some changes are already in the works. All those stories and much more coming up in the kudlow report, beginning right now. Good evening, everyone. Im larry kudlow. This is the kudlow report. We live here at 7 00 p. M. Eastern, 4 00 p. M. Pacific. The fed taper and soaring stock market. Here is our very own steve liesman. Good evening, larry. Federal reserve essentially tea at least steps. a billion the treasuries. Second, announcing a schedule for tapering. About an even 10 billion monthly or every decline, every meeting. Third, very dovish guidance on Interes
End by october. Was that the reason for the selloff . We dont know. Were going to talk about that. Nasdaq the biggest laggard by for because of the rout among the biotech stocks. Gilead sciences getting aot congress wanting to know about the pricing of one of their drugs. That sent investors scurrying out of biotech drugs. Steve liesman will join us shortly. An hour from now the president host egg tech bosses at the white house. This amid growing concerns about government surveillance. Among the ceos expected is Mark Zuckerberg. Well take you live to the white house and well speak to knows in attendance. And more developments in teslas fight to sell cars directly to consumers. Arizona, its one of the three states out there that currently outlaws selling cars without using a dealer, a middle man. But one state congressman in arizona is defying the car dealer lobby and pushing a bill to reverse that ban. That lawmaker will join us exclusively coming up on the closing bell. Perhaps arizon
And better caps. Tyler he is a out today. Sue down on the floor, the new york stock exchange. Over to you. Thank you, simon. The s p 500 beating the dow industrials by a long shot so far this year. Check out the chart. The s p 300 better than the dow. Investors and traders play these through the etf market. The dia covers the dow stocks and sp kwlchlt, s p 500. Which might fare better in the second half . Mike holland is chairman of holland and company and lee part ridge, chief Investment Officer at salient partners a great team to talk about this mike, let me start with you, if i could. You do not believe the bull run is over, there is more ahead. Which of the two indices i talked about do you think might fare better the second half . The second half is quite a short period of time. I think the divergence will probably narrow. I think we have had, a few years ago, the big cap stocks so undervalued relative to the rest of the market stocks like intel, microsoft, in fact, so cheap, they
End of the obamacare website still not fixed. By the way, moodys downgraded the Insurance Companies today because of this. This mistake could cost taxpayers a fortune. Speaking of taking a hit, check out all the red arrows on wall street today. We had a big selloff and i think the fed fears may be backing the market. Finally a very special guest this evening. Blues traveller front man john popper is going to join us live to talk about shockingly low payments song writers get now for all their work. All these stories and more coming up in the kudlow report right now. Lets start with the big selloff tr if the stocks. Dow down 176 points. What caused the big drop . Lets go to Cnbcs Bob Pisani on the floor of the new york stock exchange. Good evening, robert. It was not a good day for the markets. It started overnight when chinese manufacturing numbers came in below expectations. The chinese data was weaker than expected for a few weeks. Why cause china matter so much . Emerging marks are
Scary forecasts that so many people told us to beware of . Have the analysts changed their tune, or is the rough stuff still to happen . Archrivals, Goldman Sachs making a pretty bold call picking a favorite between gm and ford and then, of course, theres coke and pepsi. Where should you put your money . Were going to talk about that coming up. And mcdonalds is getting a brand new address, but wait until you see who is going to be behind the counter. Tyler is out today. Michelle is at the nyse, and well get downtown to her in just a couple of minutes but first the bull run in housing. Another big number today. This time its the home Builder Sentiment figure. This year kb homes is up 20 year to date. Ryland up 10 and d. R. Norton up 9 . Diana olick live in washington with more details on that. Hi, diana. Reporter yeah, sue, what about the rising Mortgage Rates . I guess the Home Builders dont care so much but skeptics tell me they will. The sentiment numbers first. Home Builder Sentimen