At that point thing starts to tail off. At least in my eye, the front end is attributed to the deregulation, the dramatic change of regulatory policy, the tax cuts and jobs act passed in 2017, but the tail off is due to him picking a trade war with china, a real slow down in the global economy, the china u. S. World trading system, and the question is whether people will theyize him for that or do support his trade policies . That is one record of interrupted of uninterrupted success. Ofid before we get to some the struggles, lets talk about successes. Deregulation. Is it almost undeniable there was success in deregulation, and can we put numbers on that . Douglas it is hard to put numbers on that. To give you a sense of the magnitude, major regulation in the United States costs more than 100 million for the private sector to comply with. The Obama Administration finalized a major regulation at an average rate of 1. 1 birthday every day for eight years. Some reported costs for complian
President trump also made news in this impromptu get together which we werent exactly expecting on a monday morning, saying the coronavirus briefings are making a comeback starting tomorrow from the Briefing Room at 5 00 p. M. Start our coverage with chad pergram who covers capitol hill. Chad, that meet meeting in the oval office set the table for next few weeks negotiations. What are we looking for . Reporter a lot of negotiations will be with republicans, make no mistake on that. Republicans are all over the map on this by there is major disagreements how to do another bill. Treasury secretary Steve Mnuchin said they will be about kids and jobs. Senate Majority Leader Mitch Mcconnell said he will take control to write the bill in his office. There is lot of questions whether he can finish a bill at all. Mitch mcconnell is confident they can. Listen. Begin the process of socializing what weve been discussing with the administration over last two weeks with our members. Were looking fo
Wells fargo a bad day as they put up a disappointing quarter. The first loss since 2008 and they cut their dividend from . 10 from . 21. A choppy day in a choppy time. David we are also getting mixed messages about the coronavirus. Yesterday it seemed like the news coming out of california may have triggered some of that happening. Why would that hit the faang . I thought if we had more coronavirus we like the faang better because we have to use it more from home . Abigail i think the two are a bit separate. The news out of california did take stocks lower, but the faang started to turn lower earlier. Au have these stocks up in huge way because of the stayathome element. Also these Companies Put up great quarters in april. We are into the earnings season now. We will be curious to see how they have fared over last three months. There is Something Interesting also ahead later this month. , jeffe the ceos of amazon bezos, Mark Zuckerberg of testifiedand alphabet before Congress Later thi
Into the end of the year. Some say good for him, it is about time we focused on hiring americans. That and more on making money. Charles apple, amazon, microsoft, facebook, netflix, yeah, all in record territory folks. [inaudible]. Sectors are higher with tech and Communications Services leading the way. As new home sales may have smashed expectations for may. 676,000 was the number there. Richmond fed manufacturing number saw a huge improvement. Then is was the bmi number almost at expansion. Wall street analysts and titans theyre coming around despite the fact they get hammered in the Financial Press for being optimistic. Credit suisse joined Morgan Stanley saying yes, well have stronger stock gains this year. Steve schwarzman says economy in for a big vshaped bounce. Where should we invest right now as we Gain Momentum . I want to bring in belpointe strategist david nelson and Heritage Capital paul schatz. Let me get your initial thoughts on the current action in the market the last
Edward . Reporter connell at no time in American History has the economy created 4. 8 million jobs in one month until now. When you look under the numbers, the gains get even more impressive. You have 40 of those gains in the leisure and hospitality sector as hotels started to reopen, states started to reopen, bars restaurants, early part of june there. 2. 1 million jobs created in that sector. Leisure and hospitality in june alone. The largest increase in history. Now some forwardlooking indicators are in the report. Construction workers are coming back. Another 158,000 hired in june, making a two month total of 622,000 when you have them building houses and building buildings. People then feel that. Its a Ripple Effect in the economy down the road. Right now half of the people who lost their jobs in the coronavirus shut down have been rehired. He will not be happy in the administration until everyone who lost a job has one. We can get people back to work safely n the treasury well ta