Nightly Business Report for wednesday, may 7th. Going, everyone, and welcome. Federal reserve chair janet yellen went to capitol hill today. She told Congress Joint Economic committee that the u. S. Economy is turning up after a winter of virtual standstill. But she pointed to several areas that bear watching, among them, housing. Steve liesman has our report. Reporter fed chair Janet Yellens testimony before Congress Joint Economic committee today blamed the first quarters economic weakness solidly on the harsh Winter Weather saying she already sees a rebound in spending and production in the first month of the spring. And that leads her to be optimistic about growth this year. Looking ahead, i expect that Economic Activity will expand at a somewhat faster pace this year than it did last year. That the Unemployment Rate will continue to decline gradually, and that inflation will begin to move up toward 2 . Reporter behind yellins optimism she sees less fiscal restraint, that is, a sma
Innocents. Took a look at the politics of this right now is that in 2014 youve got the majority of the senate seats that it would take place in states where frankly the hispanic vote is not large enough to play Critical Role. Louisiana, north carolina, arkansas, colorado you could make a case that will play Critical Role but to so many of the senators sided with republicans saying t through the continuing resolution funding for implementation of daca should be eliminated and that authority should be rescinded. The politics and immigration are pretty ugly redneck i think its really important that none of the ugly right now. None urge congress to move forward. From our perspective after were finding hope. Over the last month or so we did over one dozen conversations with conservatives, faith, Law Enforcement and business leaders. In South Carolina we had evangelical pastors, business is a lawenforcement saying we got it going going. Before we came on i mentioned the fact the presentation
So one day, one state, three stops. Joe biden meanwhile leads by about five points in the real clear pulling average, but Hillary Clinton had a similar lead at this point in 2016 and lost it by 44,000 votes. The former vp is not on the trail today but one week and one day until the election and so far more than 61 million americans have already cast their ballots. We will take it to the board in a moment and showing how it breaks down the first back to pennsylvania where we listen to the president at this hour. President trump when they say big joe, that doesnt work. But that guy is big. Thank you very much, great job youre doing. He said no, sir, we are here for and i felt so safe, these tough guys, they are sitting on these harleys mostly, i guess . That was never my deal, okay . I like at the limousine better, i dont know why. But you know, i never felt safer. There was a tremendous love that we had right from the beginning. Right . Four years ago right from the beginning and it sta
This stock market. Cant do it alone with the economy. We saw it this morning. In the glorious takeover hallelujah of Kinder Morgan by rich kinder himself and the s p is gaping 2. 8 and the nasdaq is jumping. There were many reasons for it to occur. First and foremost, rich kinder loves it when shareholders make money. And he alluded to that front and center this morning when i spoke to him on squawk on the street. But the main reason is that Kinder Morgan was having trouble growing because the cumbersome structure, the parent company, didnt let the business expand as quickly as it should. Even of course some great opportunities in oil and gas. The new streamline entity Kinder Morgan, inc. , which should be owned for the 2 dividend will give you a great play to play the north American Energy revolution renaissance. Kinder morgan will be the Third Largest energy company, better groat in dividend boost prospects than any other company not just in the oil patch but in the s p 500. Rich kin
Never going to criticize the skepticism. I applaud it. It is a quality that has made me a ton of money versus the complacency which has been a continual loser. Skepticism allows you to leave the table after a big run. And if complacency says youre going to buy and hold. Im sure that there are plenty of index Fund Supporters who say come on and see, if you bought and held you would have done fine after all, but you could have made so much more money doing what these theoreticians think is impossible. Which is selling high, and buying low. Getting out and getting back in. That is undeniable now. Its empirical. And if you manage to get out near the high of 14,000 and change or 12 or 11,000, and then you get back in near the bottom, you have made a fortune and more important you didnt lose one. Congratulations. And then the logical question is this should we ring the register this time around . Is that the correct course given that it worked last time . Well, you have come to the right pla