Hedge Fund Managers to keep the ultralow tax rate. It is called carried interest. Really a nice pay much less than you. Forgive me if i call it a racket. We reported these tax details yesterday the market rally at the value of all stocks have gone up 623 trillion since the election. As things move forward today, stocks inching higher again with just 414 points from dow 25,000. I will say it again, ive never seen anything like this before. We have seen Government Shutdowns before and another one is looming. Congress has until next friday to fix it. This is politics. Previous shutdowns have no impact on the economy or the markets. Thursday december 14th, 11 days until christmas. Do you know where your package is . Varney company is about to begin. You know, the president was not whispering. Hes not known to speak in a low voice. We lost the audio. Tens of millions of people get an increase in their paycheck in february next year. He was talking tax cuts right here. By the way, hes readin
And what do you think of the sign of derisking . You are have seen a lot of the trade assets out there, and you have n the treasuries rallying and gold rallying and the utilities ralin inlying, an is an indication of the investors being in a defensive position. Are you better served to get to the cusp of the new highs and then you find a lot of people are playing defense again, and josh, what is going on . Well, i guess that i reject the premise that this is some of kind of a failure, because price has memory, and we have approached the old highs and we have been here four. Four times since may of 2015, and the s p 500 bumped and failed four times. That is right. So when we approach the highs again, you should expect that people who felt like they got left holding the bag buying at the levels to maybe take some off which is a little bit of the resistance and you have sellers here, and we know it already empirically, and nobody should be surprised that we are not ripping through it like
Exchange on cnbc. Im wilfred frost joined today by seema mody. Good morning, seema, sitting in for sara eisen. Lets go to action, u. S. Futures have taken a positive turn in the last hour or so, following european markets making a similar turn. Higher by about 50 points to the dow. 53 to be precise. S p by 6. 4. Nasdaq by 20 points. It follows a 1. 25 decline last week for u. S. Equity indices. Lets look at the u. S. Tenyear, were seeing buying over the last week or so that did actually take the yield below 1. 7 briefly on thursday. Were just above that level right now. But as you can see, the move in general over last week has been one of yield compression. 1. 718 on the tenyear note this morning. Breaking overnight, bank of japan governor kuroda says the boj is closely watching how unstable Global Market moves could affect his countrys economy and prices. Speaking at an animal meeting of trust banks today, kuroda said, quote, the boj wont hesitate to take additional easing steps need
Tim la camp and steve murphy, welcome, everybody. Okay. The folks at forbes will tackle the pamphlet plan in one hour, fair and balanced. What about the plan to overhaul the tax code. What is it going to mean for jobs. I think its going to be great for jobs. Overhauling the taxes is the thing that the governor and hopefully president romney can do. And incents, if thats a word, every individual and corporation out there. Provides a path of what theyre going to do, what theyre going to pay and if its simplified and overhauled, it will get rid of hopefully a lot of the special interests, which tak the government out of the intervention and provides a clear Playing Field for everyone. This could turn around our economy, if done soon and done right. Brenda jonas, we dont know exactly what kind of overhaul we would get and isnt that adding uncertainty . Wouldnt that keep people from hiring . Moreover, it doesnt really, neither plan really addresses the deficit and the need for revees. Lets
What about the plan to overhaul the tax code. What is it going to mean for jobs. I think its going to be great for jobs. Ovrhauling the taxes is the thing that the governor and hopefully president romney can do. And incents, if thats a word, every individual and corporation out there. Provides a path of what theyre going to do, what theyre ing to pay and if its simplified and overhauled, it will get rid of hopefully a lot of the special interests, whic takes the government out of the intervention and provides a clear Playing Field for everyone. This could turn around our economy, if done soon and done right. Brenda jonas, we dont know exactly what kind of overhaul we would get and isnt that adding uncertainty . Wouldnt that keep people from hiring . Moreover, it doesnt really, neither plan really addresses the deficit and the need for revenues. Lets leave that problem off the table and talk about the job situation. I like what romney wantso do, the code has a lot of deductions that sho