Of course, so i think we are a long way from that. Digital currencies are in their infancy. So essentially, not too concerned about, you know, the Central Banks no longer being able to carry out Monetary Policy because of crypto currencies or digital currencies. You know, facebook, i believe, has made quite broad rounds around the world, really, with regulator regulators, supervisors and lots of people to discuss their plans and that certainly includes us. And its something we are looking at. We meet with a broad range of private sector firms all the time on Financial Technology and theres just a tremendous amount of innovation going on out there. The potential benefits here, there are also potential risks, particularly of a currency that could, you know, could potentially have large application. So i would echo what Governor Carney said which is we will wind up having quite High Expectations from a sort of safety and soundness and regulatory standpoint if they do decide to go forward
The dow is the story today bet than 1 gain the russell, small caps trailing a little bit bob pisani on the floor with more were reversing that trend. We used to sell off in the middle of the day, but friday we diplomat and today we are holding onto our highs its very important. Three trends ive seen thats happened in the last two days. Number one, the healing continues. S p regained 20 of the losses were finally seeing new highs appear and familiar names are on that list. Finally, the Leadership Group since the bottom is the Leadership Group getting us into this, and that is cyclical stocks look whats leading today. Boeing, 3m, apple, cisco, these are all cyclical names lacker eds, coke, mcdonalds, johnson johnson, General Electric not doing too much overall s p new highs, old faces weve seen time and time again on the list amazon, netflix, adobe, hewlettpackard, jpmorgan chase. We continue to see the rally move forward not going back to that idea of selling off late in the day. Well s
Coming the new bellwethers it could be argued that ge has not been a bellwether for a very long time. Meantime tesla shares also under pressure today over under certainty around whether the electric vehicle maker will be opening a new factory in china were going to separate fact from fiction on this one. And after the bell, soon youll be able to order takeout directly from the amazon app the head of amazon payments will be joining us exculusively to talk about the ecommerce giants latest announcement. Everybodys getting into the Payment System business right now apple pay, amazon pay. International, too. Alibaba pay, ali pay. Absolutely. Lets get to the top story out of washington. That would be tax reform and a major change being floated by republican lawmakers that could have a huge impact on your Retirement Savings cnbcs ylan mui is in washington with that story. Ylan reporter bill, a capitol hill source told me they were looking at lowering the limit on how much you can contribute
More. You get crude getting hammered over 1 percent. Bac back toess get be fourth of july recess. Senate republicans promise to get their bill out before the recess. But they only have three weeks done. That European Central bank gets together with officials with the of European Finance greece. S with well getting new York Fed Survey on u. S. Expectations. Healthcare fight will greet lawmakers again as they trickle this week. Capitol Senate Majority leader mitch to find enoughg votes to miser the measure. Trumporning president tweeted, i can be the imagine that congress would leave a beautifulithout new healthcare bill for me to approve and ready to go. Met last year met with a russian woman to provide informationdamaging on hillary clinton. The meeting took place in june 2016 after his father had secured the republican president ial nomination. The fbi and congressional investigating russian interference in the election and whether theres an members of theen Trump Campaign and moscow.
Expecting a pick up following the weak start to the year. The Commerce Department reported a 1. 2 rise in gross domestic product. The broadest measure of goods an services produce nd the nation. Estimates were the for 2. 6 and dprout for the First Quarter was revised lower, raising questions about the pace of the 7yearold economic recovery and what the fed might do next. Steve liesman has our story. In the heat of summer, washington got a blast of cold economic air on the economy. The government reported tepid growth in the Second Quarter of 1. 2 , more than half of what economists expected. The report showed the prior two quarters were weaker than thought and it raised worries that the economy could be slowing down. Curiously, Consumer Spending did we with Business Investments that kept growth down. Consumer rs the economy. Thats the piece that matters. Thats flektive of strong payrolls and resilient wage, thats Companies Continue to give money back to shar. Not willing to make that i