Company survive . Well ask the question. Facebook is the teflon stock. Bad publicity, a 5 billion fine, an antitrust probe, not to worry. As long as it makes a ton of money and it still does, the stock stays strong. Teflon indeed. 207 this morning on facebook. Meanwhile, why dont you check your 401 k . Odds are youre looking at about a 30 gain since the election of donald j. Trump. The s p, nasdaq, they are at alltime record highs and the dow will go up another, what, 60 odd points at the opening bell today. Sit back, everybody. Watch your money grow. Its fun. Varney company is about to begin. Stuart we like to get right at it these days so take another look at that. President trumps Approval Rating on the economy remains near, very very close to an alltime high, 52 . Look whos here. Fox news contributor gary kaltbaum. All right, gary, that is a big number. How do you beat that in the election of 2020 when youre a socialist . If we get to november 3rd and the markets strong and were at
Talking. Forget mueller, what about making moolah . Voter rates on the economy for this president the highest level weve seen since 2001. That is leading to an uptick in president ial approval. A lot of this, the source of this is improving economy but his overall numbers picked up a little bit. They are lower than where a president should be at this point going into reelection. Not all that much lower. Again the catalyst for that seems to be the economy, by extension what is happening in the markets of late. Not necessarily today for the dow. Well get into that in a second. Real clear Politics White House reporter phil wegmann, the connection between the economy and maybe inching up poll numbers. We always draw the comparisons. It is the economy stupid but this president has not, up until now, up until lately benefited from that. Maybe it is just beginning to hit now, what do you think . Because trump is trump there are always voters uncomfortable with him, but if you look at the poll
Announcements, still a couple hours away. Edward lawrence where things stand. Reporter the Federal Reserve has not cutrate since december of 2018. Nowed administration would like to see 2008. The market is pricing in a 25 basis point rate cut at this point. If you look at the speeches over the past month or so, of the 10 voting members on the federal open Market Committee six of those, those six on the screen, have indicated they would favor a rate cut. Now this Federal Reserve chairman Jerome Powell says that the Federal Reserve will use its tools to keep the expansion going. This is important, his language is important, not to head off a downturn but keep the expansion going. That could signal the Federal Reserve could act before they saw any numbers that represent a downturn. They are slow and deliberate in the moves up. A Senior Administration official says the president will call for a more aggressive Monetary Policy. The official says the president want a 50 basis point cut today
Negative territory for the day. This is the last trading day for the month. All three major averages end in the green for the second month in a row. Fox Team Coverage with Edward Lawrence at the Federal Reserve. Jackie deangelis on the floor of the New York Stock Exchange and blake burman of course at the white house but edward we start with you. Reporter a quarter point percentage what they cut off the federal funds rate. Not everyone in the room believed that should happen. There were two dissenters, boston Federal Reserve president and kansas city Federal Reserve president said they would like to see the fund where they were. Jerome powell said this will not start a lengthy process of fed cuts but it will not be a one and done. He says as we see more accommodative Federal Reserve here moving in that direction, he is almost taking credit there for the economy, economic expansion continuing. What he says were seeing low unemployment, wages rising, consumer spending. So i wanted to kno
Chipotle and snap. All of them, up big. Facebook and teslas numbers come out later this afternoon. Both down in advance of the official numbers. The overall market, that will open lower in large part because of the downside move of caterpillar and boeing which are dow stocks which are taking a large number of points off the dow. We will open down about 100. Look at that nasdaq, down about a half percentage point. Unless theres a big surprise, again, this is my opinion, the hearings are not likely to affect wall street. Varney company starts right now. Stuart they started. Youre looking right now live at the mueller hearings. Joining us, judge Andrew Napolitano and liz peek and david barnson will chime in as well. Weve got him on camera. First to the judge. Okay. They started at 8 30. 31 minutes ago. You have been listening. What have you heard so far . That bob mueller is a good marine and hes going to follow the instructions from the department of justice and basically not talk about