Deal and thiset one is on schedule. It is no grand bargain. It is not even a mediumsized bargain. It is a ceasefire. It means budget piece for the next two years. They do not tackle the big ticket items. No they do not. Taxes, not in there. What is in there . Federal spending is set at a trillion dollars. That will be controversial with republicans. It replaces 63 billion in sequester cuts with other savings. Reduces the deficit by 20 billion or more. No major Big Decisions on taxes or entitlements. How do they replace the sequester . A grab bag. Aviation security fee, federal no terry pension increases in fees. Other savings there. The two people who made the murrayaul ryan and patty , they know this is not perfect, but they feel ready good about it. This bill reduces the deficit by 20 billion. Andur deal puts jobs Economic Growth first by rolling back sequestration. Providing for some sequester relief. We are paying for that with more permanent reforms on the autopilot side of the sp
Definitely an ugly week, lets look forward and talk about the game plan for next week. This business isnt about the past. Its about the future. Now, we start off next week worried. Worried about the rest of the world. We could be concerned with just our own country. Some of the weakness is because of the rest of the world. The numbers out of europe and china are okay. Im calling them tend tepid. I hope that can change monday. The pmi is coming over the weekend. Along with eurozone manufacturing pmi. Why is that so important . Give the main Portfolio Managers looking for a resurgence of international industrials that are based in the u. S. The profit taking in this has been down right horrendous. Maybe strong numbers from europe and china over the weekend could allow for a nice oversold rally. One that may have started the last hour and a half of trading today but gave up the ghost in the last ten minutes. We hope it see more news on chatter that sprint maybe preparing a bid for tmobile
Hiltons ipo, the second biggest offering this year. And facebook is joining the big boys club. The s p taps the newest member of the s p 500. Display youre watching Worldwide Exchange, bringing you Business News from around the globe. Its thursday, the 12th of december. Youre watching Worldwide Exchange and its good to talk. Well, not always. Coming up on the show a little bit later, 10 40, youve got to tune in as we talk to a car pooling company who puts commuters together based on how much they want to chat. How that works out, i have no idea, but well find out. Stocks in the u. S. Have had their worst day in more than a month ahead of next weeks fed meeting. Are we at a Tipping Point . Has santa disappeared . Well be over in boston for a view on what happens next at 11 30 cet. Ten minutes later, we take you for an interview with michelin, north americas ceo, pete sellick. Hilton worldwide is making its debut during 2013. But first, russian president Vladimir Putin is currently deliv
In a statement, the president called the deal balanced saying it increased target fee increases and spending cuts designed in a way that doesnt hurt our economy or break the ironclad promises weve made to our seniors. Its the first budget that leaders of both parties have agreed to in a few years. The American People should not have to endure the pain of another Government Shutdown for years. House Speaker Boehner said while mottest in scale, this agreement represents a positive step forward by replacing permanent reforms to mandatory spending programs that will produce real lasting savings. John harwood has the latest data from the nbc wall street journal poll. Right now, lets check on the markets. After all of this, we can see the markets are barely budge. Waiting to take their cues, see what they think, see whether this passes, nasdaq and s p down slightly and dow jones up 1. 87 points. Tenyear note down to 2. 808 . Andrew, good morning. Becky, thank you. Mastercard has now announce
The stock market is telling us we need to be ready. We just had our fifth straight decline today. Dow sinking 68 points, nasdaq declining. 12 . We know thats because theres been too much good data lately. It should be that, no, good data. Because we are in a good news is bad news environment. Since good news moves Interest Rates higher, whether the fed likes it or not remember, the fed wants rates down so more jobs can be created. But at a certain point, you have to ask, arent more jobs being created . The fed stops trying to keep Interest Rates down or stops being able to. Its a foregone conclusion that when rates rise, the whole stock market will decline regardless of what the fed says or does. Thats been the case before even as the last late runup. Its going to be the case again. Im not debating that. There are tons of reasons why stocks could. We know riskfree bonds that generate returns of 3 on the tenyear treasury and 4 on the 30year treasury. A prediction of where well go on a s