President trump saying youre welcome for the market milestone, this as joe biden lays out his cabinet picks and the plan for his first 100 days. We have insight all morning long. We hear from Chris Bedford from the federalist, tennessee senator Marsha Blackburn, michigan congresswoman, Debbie Dingell and laura trump. Stimulus showdown, millions of americans are waiting for another plan the to finally get pushed through congress, treasury secretary Steven Mnuchin meantime will move unspent stimulus money out of the Federal Reserve, if you will. This is rescue money. And it needs to be reallocated by congress. So thats on nancy pelosi. Tax threats, new York Governor Andrew Cuomo promising a new income tax for the state if the government does not give out more coronavirus related aid. Okay. Keeping an eye on the Holiday Shopping season, weve got the best deals you can expect ahead of black friday and cyber monday. And mystery in the desert, an other worldly discovery in utah have people a
Sharp selloff by friday. Look at the week that was with dow industrials down 4,000 points on the session. Thats 17 on the week. The nasdaq was down 995 points, 12 and a half percent lower and s p down 406 points, 15 lower on the week. President trump deploying the National Guard to new york, california and Washington State to fight what he calls the invisible enemy as more people are told they must stay home in the heavilyhit states. More companies stepping in the fight the war against coronavirus, meanwhile, they are working with the white house to manufacture mustneeded supplies and medical equipment. Plus more businesses forced to shut down as tighter rules go into place. St. Louis Federal Reserve president warning that Unemployment Rate could soar to 30 . Mornings with maria is live right now. Maria lets check Global Markets with ftse 100 in london 236 points, european indices red across the board. Cac quarante down 150 points and dax index down 243 down. In germany Angela Merkel i
Welcome to the kudlow report. Im larry kudlow. Its 7 00 p. M. Eastern and 4 00 pacific. We begin tonight with the gm recall crisis thats threatening to blow up into one of the most expensive lawsuits in the history of the auto industry. Our own phil lebeau joins us now from chicago with the latest. Good evening, phil. Hey, larry. Pressure is reallyla starting t mount on not only General Motors but also regulators in washington to do something more about whatshi happened with regard to this gm recall crisis. The latest comes from a filing out of texas. An attorney down in texas has filed a motion with the u. S. District court asking the court to have General Motors issue a recall ireport. He says the cars should not be driven because they could potentially hit a bump. Y they say they can be driven as long as theres nothing weighing down the key. These cars could be thrown into thent troublesome position if t car hits a bump. And that according to the attorney is what is the potential pr