Edward. Reporter Federal Reserve has left rates unchanged. This is the sixth pause in a row for this. Now with the first line of the statement has a word thats been added to it. It says the Economic Activity continued to expand at a solid pace. Now the statement says that the fed sees job gains remaining strong. The fed also sees inflation easing over the past year but remaining elevated. The Committee Also changed the statement to say that employment and inflation goals have moved into better balance over the past year. The fed leaves one sentence in. Its a very key sentence, saying it needs to gain greater confidence that inflation will move sustainably to 2 . Again a very key phrase in the statement. One big announcement of the fed statement is going to make, the fed is reducing runoff of the Balance Sheet. Starting in june the fed will go from 60 billion of runoff in treasurys, rolling off 25 billion. Going down to 25 billion in treasurys, rolling off starting in june, amount of mo
Peace process. The president s announcement could have serious ripple effects on the world even the pope is weighing in recognition of jerusalem is the news from the president of the United States. This marks a departer from democratic demonstrations of the past here they continued to keep the embassy in tel aviv not moving into the touchy question of what the status of jerusalem ought to be the administration will not move to jerusalem immediately they said the process will be kicked off by the president of the United States. It could take some period of time, possibly years before an embassy is built in jerusalem and the site located and security put in place and the Embassy Opens and begins functioning in jerusalem the president is expected to recognize that it is the capital and that is expected to touch off reaction among palestinians who very much view East Jerusalem as the capital of a palestinian state. We will see what the president has to say here at the white house in a coup
Best selling books. What makes a good story, in your minding . What do you look for . Guest so theres no formula. I dont actually think that. The question you just asked me ive never really asked myself exactly. What leads me to want to write a book, because theyre a pain in the neck to do. You really have to have a level of passion about it. That its finding, usually what it is if i look back on it, its finding a person, an interesting person in an interesting situation that will allow me to explore some interesting ideas, and thats it. And what almost always happens is that ive got lots of little projects bubbling along, magazine pieces or things im investigating, and something becomes so interesting, it consumes me, and i get to the point in my head where i think, wow, this is such a good story, i have an obligation to tell it. And thats the point its a book. I feel like i have to do it, it really should be done because this story should be told. But in terms of, like, if you asked
We, after kind of mixed not much going on yesterday. News of course a bit slow in some ways, european markets were open yesterday, many closed for both the christmas and boxing day holiday. You can see a mixed bag in europe, asia overnight also somewhat mixed. Lets get to the 10year note yield on crude oil and how were doing on both of those important market barometers. And you see wti down lets get to the road map this morning. It starts with the tax effect. More Companies Including barclays and shell outlining major tax linked changes to the bottom lines in the first quarter. The race is on for fed vice chair former bush era advisers reportedly in the running. Tesla t is in a direct challenging a tesla pickup could hit the road but does tesla already have model 3 problems . Stocks look to rebound from yesterdays decline. A number of companies reacting to tax reform. Barclays expects a writedown of 1. 3 billion on the annual post tax profits. Royal dutch shell sees a charge of 2. 5 bi
The Semiconductor Index is catching my eye. Up 6 10 of 1 . The story is told much better when we look at the individual movers. Intel is down more than 2 , based on a story that researchers have found vulnerabilities in their chips. That vulnerability has not necessarily been found. Advanced micro devices and macron, they are some of the smaller rivals getting a boost. The best performer today is based on a Goldman Sachs report that financials will continue to outperform in 2018, based on tax reform. Some of their favorites are bank of america, a big outperform are here at 2 . Lets go to the chart. Continuing. 2017 is highs, inof record the s p 500 index, coupled with record lows in the volatility index. Has a nine print. Volatility nowhere. Julia lets go to the bloomberg first word news with Mark Crumpton. Says chainrump migration provides a gateway for terrorists. Today as hecomment sat down with republican senators, to discuss future immigration policies. Hundreds of thousands broug