No one saw that coming when trump won. Welcome to risk and reward. Two months and 10 days after trumps victory when the dow broke through 19,000 for the first time. Today crashing through 20,000. Make it the fastest trip between thousandpoint milestones. Some critics question whether its just corporate profits or trumps policies or both. We are going to be cutting taxes massively for both the middle class and for come any. But we are trying to get it down to anywhere from 15 per to 20 . Its now 35 . Just had the most incredible meeting of our careers. Well work with him and his administration to implement plans on infrastructure, trade and Energy Policy so we really do put america back to work. I have more peek work on regulations and doing product. To say the president was engaged is an understatement. We are a Global Company and we create jobs across the value change. We are bringing manufacturing back to the United States bigley. We appreciate the president s courage to walk away fr
A, hell tell us why he made the call and mouch more pain he sees ahead. But first, we start off with President Trumps words late in the trading day that took oun Retail Stocks. Courtney reagan has all the details on that developing story. Reporter hi there, melissa. Late Session Movement in the Retail Stocks happened on headlines from a reuters interview with President Trump with comments about the border adjustment tax. So the president says, quote, he supports a form of tax on the border and that a border adjustment tax could lead to more jobs in the u. S. As Companies Come back and build their factories here. President trump previously told the wall street journal the republican proposed border adjustment tax was too complicated. Trump said the administration would tackle tax reform after obamacare. The xrt retailer etf took a tumble on the comments, closing down 2. 3 . You can see the leg down clearly in this chart. The American Apparel and Footwear Association says that 95 of u. S
No chit chat. I stay focused. Since this is when the fundamentals really come to the fore and direct the overall direction of the market like today where the dow gained 29 points. Nasdaq advanced 0. 02 . Unfortunately its not all earnings weve got to deal with next week. Whats your game plan . Let me show you mine. Ive been saying that the fed is prepping us right now for a december rate hike, a big reason why this market cant get out of its own way and feels so sloppy. More on that later. Now, fed vice chairman Stanley Fisher will speak monday, and hes been a major rate hike proponent. I bet his new speech will cause this market to get hit. Hes hurt stocks virtually ever time hes opened his mouth in 2016. But fishers words will help some stocks, notably the banks, and bank of america reports on morning. The stock has been advancing of late, was up nicely today. Even though its still dirt cheap, i have to wonder if bank of america has gotten ahead of itself thanks to the excellent earn
Equities. This morning again a rally you see across the boards in some of the markets. Rather steep. Nothing compared to the losses weve seen over the last two sessions. Italy up about 4 . Spain up 3 . Remember friday the markets were down double digits. This morning the dax is higher 3 . The kcac. In is where things have gone haywire. Central banks have been watching closely and traders as well. The pound is down. You can see this morning the euro is pretty steady at 1. 10. This morning the yen the dollar is up against the yun. Finally take a look at crude oil. That is also a rebound to 47. 55. Here are the big stories watching today. Vocati volkswagon is expected to pay 15 billion dollar. Expected to be filed in court today. It will include 10 billion to repair or buy back 475,000 cars equipped with two liter engineers. Owners will receive up to 10,000 in compensation. Vwwill pay 2. 7 billion in fines. Lyft has settled litigation. The Ride Hailing Service accused of breaking confiden
Pennsylvania, trying to work to the east. So later on tonight early tomorrow morning we could have some thunderstorms and i think well have more thunderstorms later in the day tomorrow. So this is what to expect tomorrow. This will really be the line say of extreme heat. Wednesday temperatures could touch 90 but the heat index wont be as bad but tomorrow the heat index again dangerously hot, 100 to 105 with some heavy thunderstorms around. Ill have more details on the timing and talk about that relief on the way in the accuweather forecast. Sharrie. All right, cecily, thank you. Meantime people in Central Jersey are in for a little relief now that their power has been restored. Residents in and around stockton Hunterdon County were left in the heart for most of the weekend as heat index dipped into the triple digits. Some had to get rid of everything in. I lost meat. I lost sausage. My son made sausage and stuff. Wwe had to throw it all away. Good food gone to the trash. Well, many wen