Reached. Leadership of the Bidenharris Administration is facing questions this morning. Todd questions not just on the strike, White House is accused of not doing enough for Communities Hit by Hurricane Helene and moments like this are not helping anyone. What do the states need after what you saw today . The Storm Zone . Which storm are you talking about. Carley after devastation of Hurricane Helene, Symbol Of Hope Stands in North Carolina. The story of the wooden cross that has weathered the storm. You are watching fox and friends first, im carley shimkus. Todd im todd piro. Lets get to Madeleine Rivera on the deal to end the strike. Madeleine members of international Longshoremens Association are back to work today. Union representing Dock Workers saying they at the united states maritime alians have extended the contact until january 2025. As part of the offer ports propose 62 Wage Hike over six years. If a deal is not reached within 90 days, that is off the table. Other members th
Traders were also encouraged by new Inflation Data forjanuary that showed the smallest increase in goods and Services Prices for three years. That has added to bets that the Federal Reserve is on track to start cutting Interest Rates injune. Our north America Business correspondent Erin Delmore Reports from new york. All three of the major us Stock Indexes closed out february with a bang. The Tech Heavy Nasdaq Hit an all time high and it is the first time we have been able to say that since november 2021. Another new high for the s p 500. Both indexers enjoyed their best february high for the s p 500. Both indexers enjoyed their best february since 2015. The Dowjones Industrial Average for its part was up as well. That makes february the fourth straight month in the green for wall street and the Leap Day Boost was helped by some new Inflation Data. Well, the market today is reacting to a favourable continuation of inflation coming down in a trend towards the Federal Reserve s target.
higher. i spoke to tribeca investment partners, who told me what was driving the rally. 2024 - me what was driving the rally. 2024 we re heading to a good start. certainly the investor optimism has returned after the first couple of weeks of a little bit of weakness. investors have decided 2024 is going to be a year where interest rates will head lower locally and the economic activity will slow down, but not as bad as feared previously. so all that combined, it s good to see the nasdaq pushing higher, led by big tech, and everybody else heading the right way. big tech - we re hearing heading the right way. big tech - we re hearing some heading the right way. big tech - we re hearing some good - we re hearing some good things, some lay offs as well? sure. i do think big tech is going through for 2024, certainly they ve had a great start, but i do think they will slow down somewhat because of the things you talk to. their earnings were slowed somewhat because costs a
mayor says air defenses have been shooting down russian missiles all over the city. we re going to get an update on all of it for you. meanwhile here at home, the economy and politics are on a collision course. gas prices are up 20 cents in the last month. just 20 days from the midterm elections. in two hours, president biden will put the economy and energy front and center as he is set to announce he s releasing 15 million more barrels from our strategic reserve due to opec cuts and ease the pressure that folks are facing at the pump. new polling out this morning reinforces the politics of this and the warning signs for democrats. the economy remains top of mind for voters. and republicans have the edge on that issue as the electoral advantage is shifting in their direction on the generic ballot. but we re going to start with president biden s focus on the economy and energy prices. let s go right to kelly o donnell and her post at the white house for us. also with me, w
speaking to the un general assembly delivering remarks to the 77th session of the asem blee around 10:35 this morning. the events are close to on time, although it is expected the timing will slide down as the day goes on. the president will take part in bilateral with the un secretary general and shortly after 1:00, give or take, expected to host with the new prime minister of the u.k. beijing considers response to the president s insistence that the u.s. will step in if china invades taiwan. to be clear, sir, u.s. forces, u.s. men and women would defend taiwan in the event of chinese invasion? president biden: yes. that is news to folks on the white house team. he has addressed, he is expected to place china and iran front and center in the comments and despite comments to the contrary, have not shifted vis-a-vis taiwan and china listen to this. when the president of the united states wants to announce policy change, he will do so. believe what we say and not what