Deadly earthquake fallout in central italy. Oil inventory on the way pfr our road map with elon musks need for speed. Tesla announcing new models with a longer range. The epi pen controversy at myland. Details about executive pay there. Today is the oneyear anniversary of the 1,000 point drop in the dow. A look back at what was a dramatic session. Speaking of which, jim, on that day, the vix posted its biggest oneday spike ever even as now a year later its 40 below the 10year average. We remember that day well. There was a lot of disorganization and a lot of fear. There were stocks trading, i remember celgene down 20 bucks. There was no news on celgene. That friday we had gotten james bull yard, an interview on sirius satellite, making a case for a rate hike while making a case for china. I think what an opportunity the market down 1,000 and rallied to be down 100 and finished down 588. Turned out to be the max numb fear moment. China did grow at 6 , not 7. The fed didnt raise. Oil at
Stocks are holding in the red. Ibm, home depot, united health, the biggest laggards in the dow at this hour. Oil also headed lower on unexpected build in u. S. Stockpiles last week. The death toll continues to rise in central italy following a magnitude 6. 2 earthquake. We are headed to the scene straight ahead. Welcome to power lunch. We have a big two hours coming your way including mounting pressure on the Clinton Campaign and its uncomfortably close ties to the Clinton Foundation following a release of yet another new round of emails. Susie welsh is with us for the entire show. So good to have you here. Thank you. First, lets begin with mylan labs down close to 8 since we reported on friday. The company is once again raising the price of its life saving epipen allergy drug. Lets get to meg tirrell with the latest. Hi, guys. You are seeing continuing pressure today though its not been quite as bad of a day as previous days. Wall street analysts coming out acknowledging the pressure
Chair Janet Yellens News Conference in just under 90 minutes from now. This is our brangelina. Melissa . Thank you, tyler. Im melissa lee. Were looking live at capitol hill. Tyler mentioned epicenter, d. C. Is today, where the ceo of pharma giant mylan son to be grilled about the controversial pricing of the epipen. Heather brush set to face members of the house. Well take you there live. Ill Brian Sullivan. As tyler and melissa noted, must see tv for your money. We begin with what else, the countdown to the Federal Reserve decision, a clock. If youre on the radio, picture a clock. There is 58 minutes and 39, excuse me, 37 seconds until that decision. Lets get right now to Steve Liesman live in washington with the setup on arguably maybe one of most interesting fed meetings that we have had in a long time, steve. Most definitely, brian. Fed expected to keep rates unchanged. There is some concern, some market murmurs about maybe a surprise by bill grows. He fanned those flames suggestin
Holding their breath. The road ahead includes selfdriving cars and the government is out with new guidelines to pave the way and ensure safety. Those stories and more tonight on nightly business rep for tuesday, september good evening, everyone, im Sharon Epperson in for sue herera. Im tyler mathisen. Welcome, everybody. We begin with the intense and dramatic questioning of wells fargos chairman and ceo, by the Senate Banking committee today. For once, partisan lines seemed blurred, and republicans and democrats alike flipped the witness like a burner on a hot grill. Never mind that john stumpf began his testimony with an apology. That wasnt enough for lawmakers. They wanted red meat. Some pushed him to resign, others said he needs to be criminally i for his banks creation of as many as 2 million unauthorized bank and credit card accounts. And along the way, there were new revelations. Stumpf said the illegal activity which was believed to have started in 2011 may have begun even earli
Prove it. Got an insanely addictive gain for econ nerds everywhere. Power lunch starts right now. Welcome to power lunch. Econ nerd Brian Sullivan with three hours left in the trading session. Stocks, as you can see, at session lows, mildly in the green. But if this recent trend continues, it may not be for long. Trying to lead the dow higher at this hour, you got merck and other names out there. As you can see, the dow is up just 19 points. Goldman sachs doing okay. And were pleased to have seema mody riding shotgun with us today. Hi, everyone. Im seema mody. Heres what else is up on power lunch at this hour. Housing starts falling more than expected last month after two straight months of gains. U. S. Attorney general Loretta Lynch says this weekends explosions in new york and new jersey are being investigated as an act of terror. And the National Hurricane center says Tropical Storm lisa has formed in the atlantic. It is not expected to make landfall in the u. S. Lots to get to this