Thec implementation. Reporter they absolutely nailed it with this second time frame of legislation on taxes to the president s desk by christmas. There had been a couple different scenarios though over the last week as to when the president would actually sign the bill, and one of those options was that he might wait until january, until the Congress Gets back here, and that they would have some sort of celebration to start the year off with a bang. As we saw within the last hour inside the oval office. He explained it by saying he wanted to keep that promise of tax legs signed by christmas. Tax legislation signed by christmas. I am keeping my promise, i am signing it before christmas. I said that the bill would be on my desk before christmas, and you are holding me literally to that. So we did a rush job today. Its not fancy. Reporter now, over the last couple of days or so the president has touted the handful or so of major corporations that have said they will now, because of this
Good morning. Welcome to Worldwide Exchange. Im wilfred frost. Im Courtney Reagan lets get to the Global Market picture declines yesterday, albeit just slight declines, between 10 basis points and 20 basis points we are still up week to date coming into today, a quarter percent. It looks like well add to that, about 26 points higher on the dow this morning the story of the week has not been equities so much as bonds significant move higher in yields especially in the long end weve seen a steepening of the curve in the last couple of days we did not quite hit 2. 6 on the tenyear yesterday we reached 2. 597 the rise in yields has since abated since the peaks of yesterday. 2. 54 we stand at today significantly higher than fridays close look at the trading action from around the world. Starting in asia a mixed picture in asia. Mainland china did see equities turn in higher at the end of the session. The nikkei was down 0. 3 , as was the cob p kospi was down a half percent. The shanghai log
Financial times, disheartening. One in five americans are receiving government assistance and now president obama saying lets give out solar panels to the poor just what we need to gre the economy. We havent forgotten about hillary giving the first interview since announcing her campaign. And she blames republicans for everything. Poor hillary there. Varney company is about to begin. All right. Guys, weve got a ton of news for you this morning and we have now breaking news all United Airlines flights are grounded, they say its due to a Technical Glitch. All flights, all airports are grounded, a big problem for travelers. We have a live look at Ohare Airport and thats on your screen now. Thats the giant united hub. If you have to go through there. The big story now liz the big story, there has to be something more to it than to be causing all the flights to be canceled. Charles this is worrisome because a lot of people are worried about Computer Systems worldwide particularly involving
They made their taxes lower, and far lower in many cases than ours and jobs left our country. Large corporations changed their Business Models by exploiting jobs to other countries and then shipping their goods back to the United States where they make massive profits and they wouldnt be paying tax to us either so we lost the jobs, we lost the taxes, they closed the buildings, they closed the plants and factories, we got nothing but unemployment we got nothing other businesses, even classic American Brands switch their headquarters to foreign countries. Because of this and other reasons like weak borders, america remains stuck in the past although i have to tell you, we have general kelly here today, and we stopped 78 going up to 80 on the border traffic coming through. In just a short period of time [ applause ] hes done some job whole different world out there right now. Today, we are still taxing our businesses at 35 and its way more than that and think of it, in some cases, way abo
And im wilfred frost. A good morning to you. We have it all covered for you coming up. Barclays latest numbers and restructuring plans, glencores rough results, a legal victory for apple, and so much more. Plus, well talk politics on this super tuesday. First, lets check on the market. S markets. Looking to recover after a lateday selloff, ending february in the red for the s p and the nasdaq. Dow eked out a gain for the month, though a loss for the day. Futures up this hour 84. Nasdaq futures up more than 25 after an upbeat done in asia after europe has managed to shrug off wall streets selloff yesterday. Absolutely right. Lets have a quick look at that asian trading session. Positive territory. A response to yesterdays rrr cut we discussed yesterday on the show. This first trading session since that happened. Also had Chinese Government data showing large factory activity contracted for the seventh straight month in february, falling short of estimates. Chinese pmi dropped but remain