Americans and ongoing battle of stimulus this morning. Heavy haters, walmart, home depot and kohls reporting Quarterly Earnings, we have all the numbers and impact. Lets check numbers, we are looking at a firmer tone, futures indicating a gain at start of trading, about 55 points nasdaq with record close yesterday adding to it this morning with another gain of 35 points. S p 500 ending the day yesterday less than 5 points away from a new record high close when the dow was down 86 but the nasdaq was up 110, the race to acquire tiktok, stock is surging this morning after reportedly throwing its hat to the ring and what it means to microsoft and ongoing battle this morning. Oracle shares up 2 and a half percent. Men being told not to have one alcoholic drink a day. Whats behind the warning . Mornings with maria is live right now. Ftse 100 up 11, cac quarante up 17 and dax index in germany higher by 66 points. European Central Bank President warning banks arent likely to fullery recover fr
Need to leave. Any comments on that. Steve, do you want to start . Sure, i can address that. I do not think shifting to a territorial system is right. The two problems that weve highlighted here are earning stripping and the deferred accumulated earnings of these controlled foreign corporations. If we shift to a territorial system in which a u. S. Company is only taxed on its u. S. Source income, and not taxed on its foreign income, there will be all the more incentive for multinationals to strip income from the u. S. Base and shift it abroad. Isnt that the first step and then you deal with all those issues let me finish my answer. So as part of any consideration of territorial, we need to address the earnings stripping issues that were discussing here. One of the observations professor shay made in his article, he wanted treasury to adopt regulations that could fold into tax reform and weve got to address earning stripping and we have to do it sensibly and i think we could fold that i
Tax rate of those companies to be reduced. And thats why were talking about this subject. So it appears that having a bow tie is not an indication of prof sor yal stature but tax planning. John, you started us off by talking about the fact that your view, this set of practices were a symptom of a larger set of drivers in the Corporate Tax structure and that ultimately and i think you wouldnt get any disagreement with anyone here we need to be addressing those larger drivers. But in the context of the current debate, first of all, can i ask you to ask would the measures that steve and steve have put on the table be effective and then we can go beyond that to say should treasury take it. Lets start with the effective. So the answer is i dont think so. But theres an overarching point before i get back into the weeds which is why are we trying to raise the bar so it will be harder for companies to leave the United States. Why arent we trying to do something to make it more attractive for t
category 2 storm with jonathan sery in atlantic beach, north carolina. rick leventhal in atlantic city, new jersey. and rick reichmuth in our fox news weather center. we begin first in north carolina with jonathan. local officials are already reporting fail goers winds in atlantic beach. behind me, you can see the huge winds pounding against this pier. in the last hurricane, the pier lost several pilings, and that storm was not a direct hit. if this storm makes a direct hit, well, needless to say throughout the night and throughout the day tomorrow we ll be keeping a nervous eye on that pier. every once in a while a large wave will drive water up to the steps on this beach. the one thing there s protecting the rest of the island from the storm surge here is this dune with all of the vegetation on it over here. as you can see, it s not the biggest berm here, and so it wouldn t take much of a storm surge before you d start experiencing some flooding on the rest of the island.
throughout the entire hour. take a look at this incredible video we have of irene coming from outer space. the footage was taken by nasa. you can see how faves this storm is. well, back down here on earth, right now there are mass evacuations along the east coast, including parts of new york city. new york is also preparing for its first-ever shutdown of public transportation due to the weather here. we have fox team coverage of the category 2 storm with jonathan sery in atlantic beach, north carolina. rick leventhal in atlantic city, new jersey. and rick reichmuth in our fox news weather center. we begin first in north carolina with jonathan. local officials are already reporting fail goers winds in atlantic beach. behind me, you can see the huge winds pounding against this pier. in the last hurricane, the pier lost several pilings, and that storm was not a direct hit. if this storm makes a direct hit, well, needless to say throughout the night and throughout the day tomor