Largely at a standstill . Forill head live to milan an interview with vittorio grilli. Taylor riggs is with us to explain whats moving. Taylor we were down a bit, we had big gains yesterday on the s p and nasdaq and today coming off the tax form proposals, taking a bit of a breather. Taking a step back to say how will we get this enacted, is it just the opening argument, when will the lobbying efforts start . I want to stick with tax reform. Come with me to my terminal. We have been talking a lot about how small caps have outperformed large caps. Small caps are more domesticallybased companies in a fitting from a lower tax rate in the u. S. Here we have targeted the russell 2000 compared to the s p 500 and you have seen a bit of outperformance. Look at the big spike up yesterday. In the relative outperformance compared to the s p. Not anywhere close to what we saw after the election, but will nonetheless pretty big moves for small caps yesterday. When we talk about the individual stock
Steady at 7 as expected. They have seen a lot of the inflation pressures ease in the eeks of september. A lot of economists do not expect to raise rates next year. Theyre holding with their Interest Rates at 7 . Let us look at dollar peso. Dollarooking at a weaker story. That has been a trend since the beginning of this year. The bank of Mexico Holding in. Let us circle back and look at the u. S. Scarlet was talking about tax reform. The euphoria is here. All of this was right on the screen. We are finally seeing some of the euphoria come back into the get thiserhaps we will done. Im sure there will be a lot of lobbying efforts. I will note that the dow is posting the biggest gains. Up 0. 2 . Highseaching record coming up 0. 4 . A lot of this has to do with the strong gdp number we saw. The second revision was 3 , up atm the first front we saw 2 . When the economy does better, we are shipping goods all over. For fedex, i will give a shout out to my producer who pointed out a cool story
In europe for the major look like this. The ft 100 the cac are down fractionally end up fractionally. In asia overnight were higher as you see there, markets in shanghai and korea were closed for a holiday. Thirdquarter earnings per share but bolstered expectations that the stock right now not showing Much Movement but the news hitting that day. Breaking news out of the European Union. Regulators were that amazon has to pay nearly 300 million tax bill for unpaid taxes. Amazon shares dropping on the dropping on them is down two thirds of a percent. It has been a contentious one for other retailers. Well bring you more on that coming up. Yahoos breach bigger than first thought. The warning as is revealed all 3 billion accounts were actually affect it in some way. Then there is this. Equifax shakas former ceo grilled on capitol hill over the data breach there. The company gave the new customer of the federal government why they are trusting that are trusting that for the much vast million
Street our house in the middle of th street welcome to power lunch. As melissa points out, another string of record highs for averages any gains by dow, as in dam and s p 500 means a record close check out some of the big movers right now. Sea world is taking a hit. Reports the company is a takeover target. So why is it higher . We will explain later. Constellation brands, company beating east mates and raising the outlook. Constellation ceo joining cramer on mad money. The xlk is at a new 17year high paypal, apple, microsoft, alphabet all leading the way there. We are looking at shares of regeneron. News that we reported earlier he that u. S. Court reversed a ban on sales of the cholesterollowering drug, can you see shares up 3. 5 tyler, back to you thank you very much welcome to power lunch. Lets look at the dow. Major move that republicans passed a 4 trillion federal budget resolution. It is the first concrete step to tax reform for procedural parliamentary reasons. But there is a l
Hidden, we turn to you to be our strength this day. The palmist proclaims you are close to the brokenhearted and that you saved those crushed in spirit. We pray that you lift the spirit of our nation this day and guide those who represent and lead your people. Help our leaders to find good council and give good counsel and give ear to your holy words. The book of proverbs teaches us that for lack of counsel the nation fails, security lies with many advisors. Help all who advise, guide, and help to direct our government, to do so with selfless care. May they put the needs of other before their own cares and lift the burdens of those who suffer most. Mend our leaders discerning minds and hearts so that your will be done today eafer every day with which you bless us. We pray this with great faith and hope. Amen. The speaker the chair has examined the journal of the last days proceedings and announces to the house his approval thereof. Pursuant to clause 1 of rule 1, the journal stands app