candidate go to a heading to clarenville the winner, sound familiar? plus, the growing threat of violent extremism all around the globe. why are these ideas especially dangerous here in america. and wall street seems its worst day since 2020, while a lot musk seems to be trying to tweet himself out of his takeover deal. we ll break it all down, as the 11th hour gets underway on this wednesday night. good evening, once again, i m stephanie ruhle. 174 days until the midterm elections. right now, a race that is crucial in the battle for the senate majority, remained undecided in pennsylvania s republican senate primary. tv doctor mehmet oz holds a slight edge over former hedge fund executive dave mccormack, but it s possible that could now go to a recount doctor has office has a former presidents endorsement, and today trump took his own social media site to declare that doctor oz should declare victory. it makes it much harder for them to cheat with the ballots that they just
Creeping up every day, you cannot have Mortgage Rates about the climb and you cannot risk having them look the wrong way if things are getting weaker sooner than expected. How terrible are the inputs, really . The stocks have been down so harshly with the dow looking. 9. 5 . Yes but not because the terrible reality. A little for the most part was he can suck consequential. Payroll port, then will shift again everybody starts and will quickly cut interest rates. To stem some sort of hard landing. Longterm rates which have been climbing higher since late last year it will probably top out around these levels in the 30 year 4. 5 . What really matters is that we have not in so long that we have forgotten how to. Tonight, lets go over the rules of the road. Yes, more rules for dealing with. What you have to do first . You have to identify the real reasons for the decline coming up headlines. We know rates have gone up. We need to decide whether the move is significant. Historically is that
Stuart it is made day. What a nice day it is in new york city. Sunshine, decent temperature, sunny streaks, thats new york city, makes new york look good on mayday. It is 10 00 eastern, to the money please. On the lefthand side of the screen, not that much, dow is up 8, the nasdaq is down 40, the s p is down 15 points. The 10 year treasury yield keeps going up, you are at 467. The 2year, well above 5 . The price of oil below 80 a barrel, 81. 42. There is the surprise, dropped below 60 grand, coming in at 57,213 per coin it. The latest read on job openings, the jobs report, how many jobs are available in america . Given number. Ashley 8. 48 million, the under the estimate of 8. 46, the lowest reading since february 2021. Perhaps ever so slightly the labor market is starting to contract a little bit. We will see. Stuart news on the manufacturing sector. What have you got . Ashley 49. 2 is the reading. The estimate is 50. Anything above 50 is expanding. Anything below 50 is threatening. S
And gives us his two cents on the dollar. The latest move on the greenback. We are also talking rates and macro. We begin with todays market. We will run through the numbers. A better look than lately, dom. A better look. Solidly higher and tilting towards the highs of the session right now, but the caveat is that we havent gotten back what we lost just in yesterdays trade. To that point, kelly, the are up about one quarter of 1 . 60 points the upside. 63,000 zero 72. The s p 500 still above the 42 mark. 40 to 50 with the last trade there of 21 points half of 1 at the highs of the session we were up 28 points on the s p. We are down nine points at below. Again, tilting toward the higher end of things. And the nasdaq composite doubling up the advance of the s p 500. 1 , 130 points, with a composite index of 13,189 the last trade there. Of course, rates still a huge focus of the market. At one point today earlier this morning, we did touch a news cycle high going all the way back now to
When the jct, the joint committee on taxation, released a dynamic estimate of how much growth they expect this tax plan to generate. And its a lot less than republicans were hoping for. The jct estimating the tax plan would generate 407 billion in additional revenue over the next decade and that is not enough to cover the 1. 4 trillion cost of this tax plan. The Senate Finance committee putting out a statement saying that this analysis is curious and deserves further scrutiny and they emphasized that the final version of the tax bill is not yet complete it is still being hammered out on the senate floor. Another important thing to note is that the jct assumed a very aggressive response by the Federal Reserve to a strengthening economy. That is also very different from what we have been hearing from jay powell and janet yellen over the next few days. So even if you discount that, however, there is no way, according to the jcts analysis, that the republican tax plan will pay for itself.