And welcome to power lunch. Eye melissa lee, your money carving out some small money today, and russell 2000 at rosh highs. Its a global rally. Lets check out bitcoin is bouncing back after falling below 10,000, Goldman Sachs say its a bubble bigger than the dotcom era and famous tulip bulb mania, and p g was down travelers rallying by almostsh topping expectations tyler . Thank you very much, melissa. Welcome, everybody we begin with a major decision from the white house the administration saying it will slap tariffs on solar panels and washing machines. If youve got a solar powered washing machine, you are not, kayla, going to have whiter whites Kayla Tausche is at the very white house with more. Reporter those tariffs are steep and final. For companies outside the United States empowereding washing machines into the United States theyll sue new tariffing between 20 and 50 , depending on the number of washing machines they are importing. For components that 50 . For solar part manufa
Thats in the next 50 minutes. Julie hyman is with us. We are halfway into the trading day. Julie its been a steady day. All averages are higher, not by much. The dow has been leading gains today. Any gains of any size would mean a record close for all three averages. To 2000, which has been taking pace. Some of the reasons the dow is up today is one of its components is doing well. We are talking about walmart are in its easy to forget there are competitors to walmart amazon that are fighting back rid they will acquire parcel, a new york based delivery service. Walmart tries to compete more and more with amazon in the Online Business and the delivery business. The details are not disclosed. Walmart shares are up on this. Its interesting the overall market has been rallying despite their weakness. We are taking look at Telecom Shares as well. We have level three centurylink on the rise as they win antitrust approval for their deal with the telecom assets. Sprint and tmobile are up as we
League baseball. The world series coming down to game 7 had to be. Were going to talk to christopher maddog arusso about the finale power lunch starts right now if all that laid doubt was not enough, will the fed stop this incredible market rally or keep the easy money flowing. It is flowing now. A new month, mostly same trend the dow hitting record high. See the nasdaq turn low earlier. It was up. Some of your individual movers today, estee lauder about 10 . Company did cut its forecast and garmin up about 5 investors taking a big bite out of papa johns pizza that stock down 10 after lowering its guidance. Papa johns saying the nfl and its leadership hurt the company by not resolving the protest taking place people watching the game and people ordering pizza. President trump speaking a short while ago as he gets ready for his big overseas trip to asia. Tax reform and the next fed chief is among his topics. Thats right. This came in a Cabinet Meeting the president held today we believe
Alix they were never gone. David timeout for your morning brief. It is joel jobs opening data. The u. S. Treasury will auction off notes. Disney reports Third Quarter results after the bell today. Get update on what is making headlines outside the business world. We turned the emma chandra with first word news. Emma on capitol hill, republicans are discussing a compromise when it comes to overhauling the tax system. According to people familiar with the matter, lawmakers are talking about mixing permit revisions with temporary rate cuts for individuals and businesses. Changee trying to the tax code without adding to the federal deficit. President trump plans to wait a week before going ahead with the trade investigation of china. According to an administration official, that is because china supported those United Nations Security Council sanctions against north korea. The white house is still concerned about possible chinese violations of intellectual property laws. Countrys moste sen
Had a slight beat on revenue. But they did better on earnings per share, 1. 24 as opposed to 1. 19. Thats the first of several to come. Now we want to go to our morning brief. Were going to continue with retail sales reports, as we have macys out at about 8 00 this morning eastern time. 30 minutes later, its weekly initial jobless claims in the United States, plus Producer Prices coming up for the last month. And at 10 00, as alix mentioned, bill dudley holds an economic briefing on Regional Wage inequality. Finally at 1 00 this afternoon, the u. S. Treasury is going to auction 15 billion of 30year bonds. Throughout the day, people on both sides of the pacific are following developments in the potential conflict between the United States and north korea. To take us through the perspective from asia, were joined from hong kong by our chief asia economics correspondent. Give us a sense of how it looks over there. What are the possible effects that people are expecting of a possible confl