Up, big tech. Theyre made the running theyve made the running all year, they are still leading the charge even higher. Abc news in deep trouble. Friday they put out a false report that sent the dow plunging 350 points. The reporter, brian ross, has been suspended, but many investors lost money. The president thinks abc should be sued. The Mueller Investigation, thats in trouble. Now we find a trumphating fbi agent on the mueller teamc plad a key role in hillarys email probe. Peter strock played a key role in the russia investigation. Can you say politicized . Can you spell bogus . It is monday morning, and trump is winning. Varney and company is about to begin. The stock market, i think, is going to have a very big day based on the massive tax cuts that were very much in the process of getting approved. But based on the vote we had last week, the stock market has been reacting unbelievably well. The only to thing that hurts it is the fake news. [laughter] stuart bomb righthand corner
Second in front of the a joint session in congress. The big issues are nexts as power lunch begins right now your portfolio taking a big hit for the second day we are right around session lows, the dow and s p 500 having the biggest drop in about five months as you might imagine, the socalled fear gauge is rising a bit today. And the story we told you about taking most of the Health Care Stocks down, hospital stocks are you want and other win is as well clorox, at t and Phillips Van Heusen are among the few companies in the green thank you im Michelle Carusocabrera. Here is what else is happening Hardy Davidson shares are dipping. The shipments lowest in six years. They expect a drop this year as well apple glassing the ios plan. Home prices surging again. The caseshiller price index dipping. We begin with the market selloff were at around session lows, the dow down around 360 points bob pisani is with with more. Just off the lows 2820 was the lows, be were just above that thats a diff
Halt brexit payments at the European Union backs a trade they believe withholding billions from the eu could be necessary. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im courtney donohoe. This is bloomberg. Yorke it is noon in new and 1 00 a. M. In hong kong. Shery welcome to bloomberg markets. Vonnie here are the top stories on the bloomberg. U. S. Stocks are mixed today. Treasuries retracing now as a toing of auctions of be billion dollars gets underway 250 billion get underway. Pizza party. We speak with dominos ceo Patrick Doyle about the companys fourthquarter artificiald why intelligence may be taking a key role in their delivery strategy. Taylor riggs is with us. Taylor a bit of a mixed picture here. You have the dow jones off. 2 . The s p 500 up. 2 . Upeye is on the nasdaq, almost. 8 . Im thinking the qualcomm bid that was revised higher is pushing everyone else higher today. Whathing im looking at is not higher tod
Morning. It is so vast that the Vice President of the united dates jumping into help here we will hear that plan coming up. Stephanie until then, ill give you the top news stories for the morning. I mentioned it earlier. Stocks in china earlier today. The benchmark shanghai composite index, 8. 5 , the most since 2007. Investors are growing concerns the Chinese Government may end those unprecedented steps it took to prop up share prices. Earlier this year on bloomberg television, the head of the council on Foreign Relations call that a nightmare scenario for chinese leadership. Where does the government and this party get its legitimacy . The answer is that they cannot quite figure it out. They have got a real problem on their hands and they do not quite know what to do it that is why you see massive intervention. This is a serious political problem. Stephanie let me break it down. From july 8 through this past friday, the shanghai rebounded 15 , more than 1400 stocks, were allowed to s
Time in a decade and the markets seem to like the cluelessness. The dow rose to 17,751. The s p climbed 15. Steve has more on what the fed did and did not say. The Federal Reserve left Interest Rates unchanged as expected but whether it hinted at a rate hike to come in the next meeting. On the one hand, it upgraded one part, joblgs. But it left the second one, inflation, unchanged. The fed doesnt want to show its hand as did it in the 2013 paper tantrum. We dont want to see any volatility in the Financial Markets the fed. There were solid job gains, a step closer to its criteria of gains in the labor market. It also suggested a lower bar for hiking saying it will hike when it seem some further improvement. Not just improvement. I think the fed is acknowledging, it is improving. The economy is standing up on its own two feet more than it has in quite some time. This will cause the fed to raise rates. But the fed characterized inflation in virtually the same ways did it in june. As runni