That seems to have worked because the dow which had been limit down has now bounced back and at the opening bell, we may be up 400 points. The dow will be up significantly at the opening bell. Same story with the s p and also with the nasdaq. Now, treasury secretary mnuchin, he says the Federal Reserve will have 4 trillion for loans to businesses. He says theres more where that came from and if congress doesnt get something going real fast, then they will go back to congress for more and he says the fed will provide any amount that is needed. Thats what the fed is doing right now. Thats the market. Thats the fed. Thats whats going on in congress. Now look at the price of oil. That has been a problem for American Energy producers and right now, weve got oil all the way down in the low 20s. Thats a continuing problem for texas, north dakota and for the Energy Producers and these energy stocks. How about the price of gas . That is absolutely tumbling. The National Average all the way down
Will have issues producing energy so lets go out and buy 10 billion or 20 billion worth of oishlgs fil, fill up the res. The oil market has nothing to do with the coronavirus other than theres just a lot less demand at this point. But youre right, unprecedented issues. Maria yeah. No surprise, russia would pile on just in the middle of a crisis for the United States and say im not going to cut production. Secretary mnuchin, a pleasure to have you. Thanks very much for the clarity. We appreciate it. Thanks, maria. Great to be with you. Maria see you soon. Secretary mnuchin. We cut into varneys time. Stu, my sincere apologies. Varney Company Begins right now. Have a great day, everybody. Stuart good morning, maria. Good morning, everyone. If i may just say very quickly, the key sentence to me from listening to secretary mnuchin was we will destroy this virus and the economy will come roaring back. We will go back to a normal world. Good morning, everyone. Lets get going on the program. A
Making money. So the dow retreating here, crossed the 29,000 mark for if first time ever, pulling back just a little bit. The other indices are higher this as the jobs report coming in with some positive reinforcements i think about our booming economy. Here though to help me break it down is Phil Blancato and also brian wesbury. The jobs report, brian, your overall theme for that and what it means going into the new year. 144 is weaker than last months 266. We had a few minor downward revisions, but anywhere from, you know, around 150 to 200,000 is enough to keep the Unemployment Rate down. This year the feds not going to be raising rates. The tax cuts and deregulation are still kicking in. Profit margins are high because Technology Keeps reducing the cost of delivering goods and services, and when you put that all in the bucket, i think this economy not only accelerates this year, it is not going to grow 4 . But earnings are going to go up 10 to 12 percent, and that means the stock m
Optimism. Keep in mind, folks we currently have tariffs on 360 billion in chinese foods. Reality this rally is based on a strong economy, strong earnings. By the way it is also my birthday today. The question, is there more room to the upside . President trump is weighing in on the surging market which doesnt appear impacted by impeachment hearings as we approach dow 28,000. Another record stock market. 21 times this year, despite ongoing, totally unfounded witchhunt and a Democrat Party would love to see a nice big juicy recession, in actuality the potential for the United States is unlimited. We will power through the do nothing dems. I do agree. Our potential is unlimited. I want to bring in to discuss this sure vest president , rob luna, Kingsview Wealth Management cio scott martin. Let me start with you. I was saying the other day last week when we got the Consumer Sentiment number out, were not past where we were in january of 2000. If we ever get through there as a nation, reall
Kaku about that coming up on making money Charles Major shake cup could be happening in the democratic primary R Michael Bloomberg talking about a possible run for the presidency. Mike is increasingly concern that the current field of candidates is not wellpositioned to do that but he would have to move quickly of course to get on the ballot on many primary states. Deadline is alabama is today. New hampshire next friday. Hillary vaughn with more on that. Reporter bloomberg has not made a final decision on a run but he is running to get his name on ballots in early filing states like alabama and New Hampshire we find former Vice President joe biden who is filing to get his name on the New Hampshire ballot. While he doing so he reacted to a potential bloomberg run, calling him a solid guy. Says he does not have a problem with bloomberg potentially getting into the race. He did say if bloomberg is running because he thinks that biden is not doing a good enough job, he said the last polls