Gets back to its version of tax overhaul with republicans pushing hard to get to a full senate vote as early as this thursday. We welcome our chief content officer, marty shanker, and from washington, sahil kapur. What does it look like in terms of whether or not they will get a vote by thursday . Is a scurry to get all the votes they possibly can between today and thursday to cobble together the votes the frontpass it on end. The vote is likely to come in on thursday around whats called a ama. Earo a theres a small faction of deficit hawks in the senate, two of them retiring, immune to political pressure. They need to be placated. They need to believe that this wont simply explode the deficit and put the nation in a more precarious place in terms of red ink. Raisedollins has concerns about repealing the obamacare individual mandate. She is concerned that it will raise a means for other people. Otheren there are some wildcards. One of the big possible no votes, rand paul, came on in fa
Wanted, which could wreak trigger tax increases that could whena risk for the senate it goes for a vote, possibly as soon as tomorrow. We speak with kevin cirilli. What is the danger that conservatives will go against the bill based on this trigger . Kevin Mitch Mcconnell is saying they are our will move ahead with the motion to proceed in order to have this vote on the tax reform package tomorrow. A deal being reached could mean the public and leadership as coulds senator corker, resolve. Should the tax plan not be able enue as aenough rev mechanism for Economic Growth, there would be an austerity trigger that would drive up revenue for the government to collect, still being deciphered as we speak. All systems are go for the Senate Passing this tomorrow. President trump is going to be back in missouri this afternoon and he will be trying to drum up support. Hery that satisfies defecity hawks, buteficit what about senators like ron johnson . Kevin those folks are moving toward getting
Costs and passing them on to their customers. Quite a reluctance among firms to do that in the past. Now a little bit more willingness and ability apparently to do that to it janetnecessarily resolve yellens mystery over low inflation but it is a glimmer of hope for people hoping the inflation rate will rise closer to the feds 2 target. All of this is happening in the context of an ever tightening labor market. This is something we are hearing over and over from just about every fed district. Its getting more difficult for companies to fill open positions, find qualified people and thats restraining their ability to grow. One tidbit from this report that i have to share with you is from the dallas fed. Worker shortages were reported throughout the oil and Gas Supply Chain and in construction. Similar reports came from care,cturing, health airlines. Some banks reported labor was becoming a bigger issue than Regulatory Compliance. You guys have heard a lot of in recentg from banks years
Even the dow transports, big gains. The dow is up 1. 5 , up for its best day since march. On pace for the best day of the year. Record highs for the dow and s p 500. 1 up tenths of. 8 . The dow is on pace for the best week since 2011, so investors seem to have confidence that tax reform may happen. They may be encouraged by opec reaching a deal to extend the supply cuts. We take a look at the s p 500 in the bloomberg, it is having its best three days of the year. This is g btv the 1 move up, move down. We see that yesterday, a tiny move down. Today, a 1 move. The first time weve seen that since september 11. Looking at the best two days for the s p 500 of the entire year. Lets break down what is happening the what is helping the s p 500. Trading higher as yields rise. Apple bouncing back from yesterdays selloff. Microsoft doing the same, impressive there. As for the dow, having its best day since march. Above 24,000, more record highs. These are the top performers goldman sachs, up nea
The dow had been up about 1. 6 , on pace for its best day of the year, nonetheless up 1. 2 now. 500 up a 10th of a percent, both indexes with record highs. Yesterday,down 1. 3 rebounding nicely today as investors are buying mthe dip on the confidence of the mentality that we have seen some much this year. Take a look at the dow. Something else happening. Earlier, when it was up 1. 6 , and it had been the best day of the year, at this point the secondbest extending all the way back to february. After the election we had lots of big rally days, that was one of those days. A very strong day for the doubt and again of the five days in a row. And lets take a look at some of the stocks helping the s p 500. Kroger up 7. 5 . Earlier, up more than 10 . Their best day since 1993. Very positive. They put up a Strong Quarter and they beat earnings by 11 and comps rose. Everybody thought that kroger would be decimated by amazon, but they are doing with a do best, selling groceries and investors the