Today. Because you cant do the job if eight people, you have 96 of your entire conference, but eight people can partner with your whole other side. How do you govern . As of now, theres no clear candidate to replace him. Republicans are now going home for the week, effecitvely shutting down the house. They say they may have a candidate by next tuesday, with a possible vote next wednesday, but that all remains very fluid. It was all brought on by congressman matt gaetz of florida. He launched the vote to oust the speaker. After some debate, lawmakers voted 216 to 210 to remove mccarthy from the leadership position. Gaetz and seven other republicans joined all 208 democrats present in the room. Joining me live now is one of the republicans who voted to oust Speaker Mccarthy, congressman ken buck, of colorado. Congressman, great to have you back on bbc news. You have been critical of the former speakers decision to work with democrats to get a Stopgap Funding Bill passed this weekend, but
216210 to Leadership Challenge and voted 216 210 to remove him. The vote comesjust a day 216 210 to remove him. The vote comes just a day after Florida Republican congressman matt gaetz introduced the motion to oust him. He became speaker of the house injanuary, after 15 rounds of voting and many concessions to his fellow republicans. He addressed the media just a short while back. Lets listen in. Thing i will tell you is doing the right thing isnt always easy, but it is necessary. I dont regret standing up for choosing government over grievance. It is my responsibility, it is myjob. I do not regret negotiating. 0ur government is designed to find compromise. I dont regret my efforts to build coalitions and find solutions. I was raised to solve problems, not create them. So i may have lost a vote today but as i walk out of the chamber, Ifeel Fortunate Today but as i walk out of the chamber, i feel fortunate to have served the american people. I leave the speakership sense of pride, acco
Nasdaq up 27 . Again, the dow has been weak over the last several trading sessions. You are seeing the issues going on and the bigger deal is the russell 2000. It turned negative for the year yesterday. It is a huge pullback with the dow industrials and russell. All these pulling back with the potential for recession. These are the things we watch along with treasury yields and inversion in the treasury yield curve. Twoyear yield at an 5. 1 . Above the 5year and 10year and 30year. Those yields picking up is what we are watching. Yields are picking up because the economy is strong. Why is the dow and russell indicating otherwise . Maybe it is so strong that the fed has to do something. If they do something that is why. They have to go further. Here we are. Dijamie dimon made comments yesterday. He said it could go 7 . He said it is not something he is predicting, but you have to prepare for it. Thats what he told his board and clients. Prepare for it. Dont be surprised if rates are high
Europe may have to pay up for premium features. It is tuesday, october 3rd, 2023. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Im frank holland. Lets start the day as we kickoff the hour with the check of u. S. Stock futures after the mixed monday. We see the nasdaq with the fourday lead. The dow is up right now. Up 30 points or so. Higher for the s p. As always, it is early. We are checking the bond market with the tenyear marching higher. 4. 68. You see the upward move over the last month. These yields moving higher. Something well talk about later on in the show. We are looking at energy. Oil extending recent losses after its worst day since august. Look at the wti crude right now. Up fractionally. Back below 90 a barrel. The move to the down side. A few days ago it was above 90 a barrel. Still positive for a month. That is your u. S. Set up. We now want to go to europe and opening up in the red after the rough session overnight in a
Haidi welcome to daybreak australia. Counting down to asias makeup major market opens. Shery the top stories this hour. Treasury yields hit some of their highest levels since 2007 head of fed today. Instacart making davids cash gains on its trading day. Haidi oil prices are presenting the fed a quandary, adding to inflationary pressures. Shery indonesia ion of critical mineral trade deal with the u. S. As the green transition accelrys. We will hear from the indonesian president. We are seeing a little bit of green but not a lot of movement. We have the s p 500 down to a three week low. This on the eve of the fed rate decision. The expectation is for the fed to deliver a hawkish hold. This with the fact that we do have Higher Oil Prices, not to mention traders were watching hot canadian inflation data. For more clues of where global prices are going. Take a look at treasury yields which rose across the board. The fiveyear and 10year yields adding the highest since 2007. Youre watching w