Postpandemic academy dominated by americas big tech companies. This friday morning, stocks are going up somewhere, can you believe that, we dont know how were going to close the session but the opening bell the dow will be up another triple digit, over 100 points, s p coming up a series of records of another nine this morning and the nasdaq made 39 records and moving higher again as of right now. That is the market, that is financial history, cue the fireworks, spectacular way to close out the republican convention, they lit up the sky over the white house after President Trump accepted the nomination for second term. It was a long speech, 70 minutes, the president made his pitch, vote for me and ill keep the streets safe and restore prosperity. Joe biden would ruin the country. You will hear it all, and then there is this, senator rand paul and his wife leaving the white house after the speech into an angry mob of demonstrators. That was intimidation that bordered the very close to re
He wants pelosi to cancel the august recess of the he will explain why. All that, so much more on making money. So the economy grew at 2. 1 in the Second Quarter. That was well above official estimates at one point. The question is the driver . The answer is allmighty american consumers, flush with better jobs, higher wages, robust confidence, in fact the president tweeting, q2 up 2. 1 , not bad because we have the heavyweight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. Usa is set to zoom. Lets bring in moodys managing director, chief economist, john lonski, Fox News Contributor liz peek, manpower group, becky frankowitz. What do you make of it . The highlight was gain by real Consumer Spending up 4 1 2 . It probably wont continue. As you stated earlier, not only the u. S. Economy, the World Economy owes a deep sense of gratitude to the american consumer. I dont think well see Consumer Spending contract in a man theyre might bring about the nearness of a
Do you support additional aid to you asked your question. Go away. Were not doing policy tonight. Any other questions . House republicans keeping it classy on capitol hill after they selected yet another nominee for speaker. Well explain how the new guy, mike johnson, won the nomination. Also it appears Donald Trumps former Chief Of Staff has flipped on him. Well go through new reporting on a possible Immunity Deal from mark meadows. Plus the latest from The Middle East where israel continues to launch air strikes from gaza after rejecting a ceasefire call from the United Nations. Good morning and welcome to Way Too Early on this wednesday, october 25th. Im jonathan lemire. And thanks for starting your day with us. We have a busy morning ahead, and lets begin here. Donald trumps final white house Chief Of Staff, mark meadows, has reportedly been granted immunity in the federal election interference case against the former president. Sources familiar with the matter are telling abc news
Session. Now things, if you can believe it, they arent as a bad as they were earlier in the session. The dow was down 706 points at its low, now down 442. The s p 500, its falling by 31 at the moment. The nasdaq is recovering somewhat from its low of 368 points, now down close to 134. And the russell 2000 is down by 17 points. Of course, those are the small caps, really not great with the Interest Rate outlook from the fed with todays gdp report. And that e do klein set in motion decline showed that the economy grew much slower than expected and that inflation remains persistent adding to fierce over Interest Rates and stagflation. Plus, Jpmorgan Ceo Jamie Dimon pouring more fuel on the fire, this morning he expressed serious doubts about the likelihood of a soft landing. I look at the range of possible outcomes, you can have that soft landing, im a little more worried that it may not be so soft, and inflation may not quite go away. The odds of a soft landing, the market kind of prices
Hospital. The cops are not happy in the incoming mayor of hoboken says it has to stop and a tragic story during the holiday season. A family devastated as for members of the family died in a fire. We will have all of the horrific details and the investigation leading officials to the heartbreaking cause. I am bill spadea, this is chasing news. They were chasing and a highspeed train on this inaugural run in Seattle Washington to tacoma. Date derailed on an overpass over interstate 5. Several people have been killed. Dozens injured. First responders are on the scene to reopen the highway as soon as possible and get people out of harms way. In the immediate aftermath, the president tweeted out the need for more Infrastructure Investment in this country. And it does stand to reason the Infrastructure Investment is a big part of some issues we have. Look at what happened in atlantas airport. 11 hours without power invent in our own area, new Jersey Transit a train struck a car on the track