Regulations and reform has made the u. S. Financial system a safer place. Maria the market seemed to like the fed chairs comments. Dow closing higher in the nasdaq and s p also turning positive for the week three President Trump letting out his new plan for the war in afghanistan. The president says the u. S. Will shift away from nationbuilding approach and instead focus on killing terrorists. The u. S. Will also put more pressure on pakistan a country that harbors taliban. Plus trumps chief economic adviser gary cohn says hes facing enormous person pressure to resign after the violence in charlottesville. He even drafted a letter of resignation. In interview with the Financial Times he said the must do a better job condemning neonazis and white supremacists. Colin is a key member of trumps Economic Team and is noticed to be on the shortlist for the next Federal Reserve chair. Your asparagus waters about to get a bit cheaper. Amazons 13. 7 billion acquisition with whole foods closes on
The mortgage industr more stagg. All that and more on nightly Business Report for wednesday, august 30th. Good evening and welcome. Tyler is off this week. The economy rebounded sharply this spring lackluster growth in the First Quarter. It was led by spending on automobiles. Gross domestic product grew a full 3 in the Second Quarter and that i quarter of 2015. Steve liesman has more. Theres some excitement t st path after twoodays upward y forecast for this quarter. Second quarter gdp revised up to 3 . The best showing since the First Quarter of 2015. Consumers spent more than reported and businesses invested more. Cnbcs tracking of Third Quarter growth has estimates run ining a healthy 2. 8 p clip on average so far. We received better than expected jobs data today. The adp estimates 237,000 created in august. Thats better than the 179,000 the street expects in fridays payroll report. Of course, the impact of Hurricane Harvey and its the reason one economist cited for not raising his
Not seem to be having an influence on the major averages come even though its well above the survey. The dow,l moves for s p 500, and nasdaq. Mixed rating with the nasdaq down slight the. No longer on pace for a record close. On the week, big gains. S p 500 and nasdaq on pace for their best week since middle july. Despite the uncertainty in the real world about geopolitical tensions, debt ceiling, potential government shutdown, we are mainly looking at stocks trading higher in a bullish manner. The dow right now for and s p 500, trading higher. Lets see if the nasdaq can turn higher, in the way it opened. ,ets take a look at carmakers ford, gm, Fiat Chrysler, all gaining. Ford and Fiat Chrysler posted declines in sales for the month of august. Ford came in down 2. 1 , but beating the estimate of down 3. 5 . Fiat chrysler sales fell 11 . Gm sales grew by 7. 5 , beating estimates. Investors seem to be pretty pleased. It will be interesting to see in the month of september a toll of harve
August at an all time high. Federal and local officials are trying to sort through the week of hurricane harvey. It dropped 50 inches of rain on the houston area and 39 people are dead and 39000 in shelters in texas. Harvey making its presence known at the pump. One quarter of all refining is shut down. President trump making his case for tax reform in missouri on wednesday, calling it once in a generation opportunity. The president reiterating the call to slash Corporate Tax rate from 35 percent. To 15 percent and simplify the tax code. Provide tax relieve to the middleclass in bricabrac profits from overseas. Maria, back to you. Maria technology is the best since President Trumps election victory up 25 percent. Even with amazon and google contributing, some Tech Companies are opting to stay private longer. There are 160 properties valued 1 billion or more, including established unicorns like huber, airbnb, pinterest. And what is the next big company to join the unicorn ranks . Joinin
August at an all time high. Federal and local officials are trying to sort through the week of hurricane harvey. It dropped 50 inches of rain on the houston area and 39 people are dead and 39000 in shelters in texas. Harvey making its presence known at the pump. One quarter of all refining is shut down. President trump making his case for tax reform in missouri on wednesday, calling it once in a generation opportunity. The president reiterating the call to slash Corporate Tax rate from 35 percent. To 15 percent and simplify the tax code. Provide tax relieve to the middleclass in bricabrac profits from overseas. Maria, back to you. Maria technology is the best since President Trumps election victory up 25 percent. Even with amazon and google contributing, some Tech Companies are opting to stay private longer. There are 160 properties valued 1 billion or more, including established unicorns like huber, airbnb, pinterest. And what is the next big company to join the unicorn ranks . Joinin