A capitalist winter, because the nerve center of capitalism had been hit, but the market when it reopened, it careened. Fell more than 14 that trading abbreviated week. A lot of folks said depression was in route. We would never recoup the losses maybe for years. It took us barely a month. The reminder nowot only of american capitalist spirit but america period. Who better to know that, but appreciate that, retired fourstar general jack keane. Always good to have you. Good to be here, neil. Neil i always like to put that in perspective, general, we tend to think well never get through this, well never get through this. Time and again we get through it. There are bumps, horrific tragedies along the way, tragedies after tragedies, that punctuate that along the way but invariably, this country much like stock market charts over time go invariably up. I think that says something about us. You . It definitely does and you know it is interesting we captured Khalid Sheikh mohammed who was the
As until today. The move a controversial one and it comes at a time when the u. S. Economy remains solid. The risks come from a slowdown in Global Growth, so the decision to lower rates is considered an insurance cut designed to hel stave off the possibility of an economic downturn. Bu the chairman signalled that this is not the start of a trend and stocks dropped sharply. The Dow Jones Industrial average dropped 333 points to 26,864. It had been down more than 450 points. 500 was off by 32. And the s p Steve Liesman reports tonight from the Federal Reserve. Overnight lending among bank, down by one quarter percentage point to a new range between two and at2. 25 . S largely what the market expected but in a press conference after the statement came out, the fed chairman appeared to dial backns expectator future cuts. The committee is really thinking of this as as a way of adjusting policy to aor somewhat accommodative stance. We think of it as i essentially the nature of a mid cycle ad
Carry your credit card but it may make say ouch it is tuesday july 16th. Fbn am starts right now. Techno music to start your morning welcome to fbn am good morning im lauren simonetti. Were awake you probably are now as well good morning everyone im l cheryl casone. Markets are awake as well lets take a look at how your money is moving any gain on wall street today will be a record for all three major averages dow up 5 s p up one and three quarters nasdaq gaining seven. A big day for earnings season things are heating up, of course, the banks are going to be in focus, of course, goldmann and dominoes all going to be on tap. Three dow stocks reporting the yield on tenure treasury right now stangdz at 2. 0 . Continue to track oil contract earlier no movement with the iranians and as you can see a slight gain as well part of that, of course, is the gulf situation. 5964 thats a gain of 6 cent pps japanese market e reopen today nikkei gaining two tenths of one percent, and south korea the e
Nasdaq, back up there another 11point gain. Now, Interest Rates, that was the trigger this week. The market is predicting three rate cuts this year. Up goes the market. Picture this. Speaker pelosi addresses a closed door meeting of House Democrats. She comes down hard on the young radicals. You got a problem, bring it to me, she says. That did not go down well. Aoc fired back. The speaker is quote, outright disrespectful to singling out women of color. Its a fight with race and gender thrown into the democrat divide. Action in the gulf. Iranian gun boats try to take over a British Oil Tanker. A British Navy Ship stopped it. The price of oil, i believe right now its back at, yes it is, 60 a barrel, 60. 59 per barrel. Lots of factors pushing oil up today. Records on wall street and an intruder at Buckingham Palace . You get it all on Varney Company which is about to begin. Stuart watch out in new orleans. Heavy rain, flash flood, emergency in new orleans. There might be a hurricane on t
Closing down by 0. 4 the hang seng was off by 1. 1 . Then the shanghai was down by almost 0. 9 . In europe it looks like, again, a modest decline dax and the cac are relatively flat ftse down by 0. 2 . Italy and spain down by 0. 3 and 0. 4 if you check out the treasury market, you will see the tenyear right now looks to be yielding about 2. 019 . We do have breaking news on Warren Buffett he is denying reports of tensions between him and 3g capital and kraft heinz. Buffett said 3gs cofounder is a good friend and he plans to see lemann next month. He also plans to attend lemanns 80th Birthday Party in august. The report has been out about tensions between them. Buffett also expressed support for the ceo of kraft heinz reports of the tensions may have been sparked by kraft heinz underperformance. That stock down by 50 buffett says right now the biggest problem facing kraft heinz is that heinz overpaid when merging with kraft back in july of 2015 he said he paid too much and it will take