57 newsroom at cbs headquarters here in new york. Im annemarie greene. This morning the latest republican effort to repeal the Affordable Care act is dead. Senator Susan Collins became the third republican to vote against the legislation, a measure she describes as deeply flawed. Now its unclear if the senate will even vote on the proposal. Were here in new york. With all democrats against the measure, three republicans voting against the bill will sink it. This after a day of protests on capitol hill where 180 people, many in wheelchairs were arrested speaking out against the bill. Collins became the last senator to say she will not support the Health Care Repeal bill. There are now enough votes to kill the measure. The bill clearly opened the door to weakening the protections for people with preexisting conditions. One of the other republican holdouts got a unique message of thanks from his constituents. A plane flew over the monday night Football Game in arizona, a banner that said
Thats right, scott take a look at the chart behind me it shows the trading days between 5 drops going back to 1950 in the s p 500 an if you discount what happened here in the 70s dont worry about that. The patterns were right here around 2,000 trading days since the 5 drop and that happened a few years ago and it happened a few years ago, and it happened many decades ago in the 1950s, so this pattern happens over and over and over again, and were due for a big drop its very different than the markets weve seen so far. We are due for a 5 drop but if you look at the flipside, the other side of this chart were due for a 5 move in the positive direction its the same thing i can delete these circles start again, but here you go, right here, almost 3,000 trading days since the 5 rise in the market and thats a pattern again and again and again that you see its like a earthquake seismograph, the behavioral patterns in the markets repeat themselves and here we are again, kind of due for a big m
Alley. Im john fortt here at post 9 with michelle carusocabrera, mike santoli, carl quintanilla, and sara eisen have the morning off. General electric, meanwhile, slashing its dividend in half. The first cut since the financial crisis, and its shaking up its core business shares sliding right now down more than 4. 5 Morgan Brennan is at ges investor day in midtown manhattan and joins us now ge cutting its dividend by 50 in what is from a dollars and cents perspective the biggest reduction ever by a company excludeing the financial crisis, but the street expected that thats not why shares are falling right now. Why shares are falling, because of the guidance, so new 2018 eps forecasts, a dollar to 1. 07 per share, Free Cash Flow 6 to 7 billion, also disappointing, lower guidance and as one analyst just pointed out to me, the 6 billion in Pension Funding next year is excluded from the disappointing eps forecast meaning, the numbers may be worse than the optics are suggesting so one key d
The shanghai up by half a percentage point in europe in some of the early trading right now we are seeing things a little bit mixed across the board. Ftses hanging in there up by. 10 of a percent. They are seeing pull backs by the dax down and the cac off by 1 3 of a percentage oint. Crude oil prices on a climb again last week where oil was up by just over 1. 10 this morning wti back 1 cent i take that back, its unchanged at 56. 74 lets tell you whats going on couple stories were watching this morning couple big ones. General electric is going to announce a major restructuring is going to happen today ge will focus on three or four units, aviation, power, health care ge is planning to shed its majority stake in oil and gas operator baker hughes. Remember that big bet that shedding . Shedding. Shedding. Like skin. John flannery expected to announce the changes at a meeting. Theyre getting out of it he got into it, now hes getting out of it. You build it up and you take it down were goin
Of force against north korea. Millennials talk about money, getting it, spending it, making shurg they have enough of it. We begin this morning with todays eye opener, your world in 90 seconds. He said youre just a child, no one will ever believe you. Accusations mount against Senate Candidate roy moore. This is absolutely false. I never did what she said i did. This is a political maneuver. The Senate Majority leader said moore should drop out of the senate rate. Do you believe these allegations to be true . I believe the women, yes. As President Trump wraps up his asian trip, a report allegedly his son corresponding with ricwikileaks. This has got to stop and we will hunt this person. National mourning in iran after an earthquake caused devastation in parts of both iran and iraq. A video now recovered from the crime scene prompted new charges in the hazing death of a Penn State University freshman. Its time to man up, fellas, and be accountable for your actions. Winds toppled trees,