S p 500 essentially flat year to date nasdaq up some 19 59 minutes left in the session, sara coming up on this friday afternoon, weve got a series of great gifts for you. Red finns stock was on fire the stock selling to have day on the companys cautious outlook as the ceo says the bottom codrp out on the economy were going to talk to glenn kelman in a few minutes. And then apple once again, the Biggest Public Company in the world, surpassing saudi ramco. Continuing the historic run. The market cap now sitting above 1. 8 trillion. Its up over 8. 25 well talk about what an investor should do with this stock next lets focus in on the big stories that were watching. Mike santoli looking at the market and the tech stocks surging to day kayla is looking over the next stimulus package first to you, mike. The story from the morning was that Great Results from the big four of tech did not really lift all votes did you have weakness. Sold a strong open the market firmed up in the last hour or so
The Federal Reserve announcing another program that primary dealer Credit Facility this is one of the biggest programs the Federal Reserve has yet to do. It is call the kitchen sink of lending programs it provides shortterm, overnight, and term funding up to 90 days for a broad range of assets i can tell you the kinds of assets that now primary dealers can bring to the fed to get funding. Investment grade corporate debt, securities, commercial paper, municipal securities, mortgagebacked securities, assetbacked securities, even Equity Securities excludeing etf. Bring us your poor, tired, hungry, weak the fed is saying bring us your paper, well, obviously, give it a haircut but well also lend it overnight. So now the fed, implementing almost all, still a few left of the financial crisis era programs from the Great Recession that had in place today. It put in place the commercial paper facility and has really long Quantitative Easing Program and bringing rates down to zero. What is left i
To become unsafe. It is tuesday, july 23rd. Fbn a. M. Starts right now. Good day, sunshine. Good day, sunshine. Good day, sunshine. I need to laugh and when the sun is out. Ive got lauren welcome to the fbn a. M. Good morning. Im lauren simonetti. Cheryl im chery cheryl cason. Lauren do yo dow futures area quarter percent, nasdaq gaining 21. Cheryl as we move closer to the feds decision on the Interest Rates next week, were keeping an eye on the 10 year treasury. Theres a gain of a basis point. Lauren more than a quarter of the s p a 500 report this week. Well hear from united technologies, cocacola, Harley Davidson and hasbro this morning. Cheryl as the u. S. And its allies try to figure out a plan to deal with an aggressive iran, we are seeing a gain for oil. A slight gain on wti, brent is slightly lower. Lauren asian stocks closing in the green across the board. Cheryl and moving over to europe, all eyes on 10 downing street, two hours from now well find out who is going to replace
Trend but just an adjustment. Here is his rather ignor ignoret statement about Interest Rates. To ensure against down side risk to provide support to the economy. If those factors are pushing down on economic growth, then to support inflation. We think it will serve those goals. But were thinking of it, essential well nature of mid cycle judgment. Lou a mid cycle el anxiety jus. Dow sold off and nasdaq down 155, s p fell 45, Edward Lawrence with more on the story from the white house. Reporter the Federal Reserve cut rates a quarter of a point. But not everyone in the room who was voting was happy about it. There were two decenters, boston Federal Reserve president , and kansas city Federal Reserve president , they thought that fed fed funds rate needs to stay where it was. In end Federal Reserve chairman powell said it was nothing within u. S. Economy domestically that called for a rate cut. To your point this afternoon, Federal Reserve say the in light of implication of global develo
Mcshane. Glen hall. Independent women forum had hadly heed manning. What time frame were looking at. Looking like it is going in his direction. So much hundred unusual that whether it would get done minutia. They want this thing finalized by today. You start debates next week. Midweek the plan still is to have the president signing into law which is interesting because once you get to the end of next week, it is not talked about as much today, again were talking about all the details of getting this particular bill passed, you run up against the other deadline, making sure the government is funded, not shutting down next friday. Still trying to get you will of that done before then seems to be the rule. Neil i hear you. Glen, one thing you immediately hear of, as soon as one concession to made to senator to keep him in line you tick others off, right. You will hear others how we pay for it. Neil corker, why he was a no vote going in. Might remain a no vote. That is the challenge. They