The printed term president with this idea, lets talk of more states joining morocco, even saudi arabia, it was a trumped triumph so the media largely ignored, that is politics in the election, like money, the dow industrial this morning will open with a gain of 100 points, small change to the s p and a small gain for that nasdaq, the fed is likely to announce today that Interest Rates will stay low for years plus encouraging vaccine and virus treatment news from eli lilly, i got that, sally madeley and paul but the point about the storm, it is moving very slowly, that means drenching rain that goes on and on and maybe two to 3 feet of rainfall in some places, it is a big storm reaching from mobile to northern florida up into georgia and even the carolinas, it is wednesday september the 16th, i believe it is 47 days to the election, Varney Company is about to begin. Stuart[applause] i just have one thing to say ill tell you what if i had the talent of any one of these people, id be elec
Why not, with the latest. Reporter why not. You heard it there, zero Interest Rates basically until through 2023. The Federal Reserve in their Committee Statement saying that they will maintain the accommodative stance until monetary policy, until their goals are achieved in the monetary policy. The Federal Reserve aims to have inflation moderately above 2 . To reach the two target a period of time. This is what chairman jay powell said what is moderate and for how long. Listen. We want to achieve inflation that averages 2 over time and if we do that, Inflation Expectations will be right at 2 and that will help us achieve 2 inflation over time and avoid the situation where the central bank loses its ability to support the economy. Reporter he would not define what moderate was, for how long. Powell fiercely defended Forward Guidance on rates being zero. The fed also made their economic projections, they revised it up. Unemployment rate 7. 6 . 9. 6 in june they thought. End of this year
Americans should vote twice. Absentees are fine. Well get to your 7 30 headlines. You go to vote there is new concern this if they havent counted it, you happen again can vote you know, sometimes, we just roll these numbers off of our tongue, and we really dont think about it thats the way i view it. But 186,000 people have now died the backlash immediate. The president s attorney general of the coronavirus thats approaching the population of huntsville, morning among Health Experts that the Holiday Weekend could attempting to defend him lead to another spike in it seems to me, what hes saying is, hes trying to make coronavirus cases. The u. S. Saw a jump in cases after memorial day and the the point that the ability to fourth of july. Big crowds at beaches and pool parties likely contributing to monitor this system is not good. This morning, both the president and his rival, joe biden, focusing on key battleground states, with just two months to go until election the spike. The u. S.
They said absolutely not. Reporter there was some positive news from the labor department. Fridays jobs report beat expectations. Nearly 1. 8 million jobs added last month. The Unemployment Rate dropped to 10. 2 . But the data shows that millions of americans who lost their jobs at the beginning of the pandemic are still unemployed. The 600 supplemental federal unemployment benefit expired july 31st. That extra 600 has been a lifeline to us to keep the roof over our heads, keep food on the table. Reporter the paycheck protection program, or ppp, which has helped Small Businesses meet their payroll expires today. Its really Small Businesses that need the support and that really contribute so much to the places where theyre located. When we lose Small Businesses, we really lose a lot more than just that one business. Reporter some economists predict that if those businesses do not receive another round of support, more americans will lose their jobs in the coming months. David wright, ab
Nasdaq is going for its second day in a row josh, we got within a point. Same narrative here. What now we figure were going to hit new high for the s p those stocks are really all you need to get it done like a nominal new high its been 122 days since the last time the s p 500 had an all time closing high. If you think about the media number of days between making those closing new all time highs its about 90 from one year to the next i guess i would say this is pretty average year all Things Considered i would not be surprised to see an all time record close for the s p very soon. What you need to get there is all working. One other thing i would grow into the mix is put to call ratios have collapsed. Its a historic collapse i think its indicative of sentiment out there. People are just no longer afraid of a resurgence in the virus or a spate of negative headlines that will send this lower. The evidence of that is if you look at a 50day moving average you have to go back 15 years to f