Benefits of tax cuts of bonuses, higher wages, more hiring in more investment. Its the great corporate pass through. More announcements are likely. Tax cuts showing positive economic results. Democrats are still making some very dubious claims. For example, nancy pelosi says raises taxes on 86 million middleclass families. That is factually wrong. It is dishonest political spin. The left plans a yearlong allout attack like about when you just saw. Investors clearly approve however the tax cuts and what theyll do for economy for wages jobs and investments. Stocks going up this morning. We dont know how the market closes this afternoon, the president and his top economic adviser both talking up the market today. It will open high gear. Later this morning, Congress Holds a tax plan signing ceremony and you will see it. Varney company is about to begin. We will start with this. A white suv plowed into a crowd of pedestrians in melbourne, australia. We want to know who did it and are the au
Both are expected to defeat their primary challengers. John mccain is seeking ath term in arizona. Hes being pushed hard on immigration by the state senator dr. Kelly ward. After repeatedly promising not to run for his senate seat. Marco rubio is on the ballot. Hes expected to breeze through despite spending by carlos beruff. The congressional fight in the miami area, the dnc chair Debbie Wassermanschultz is trying to fight off tim canova who was backed by bernie sanders. We dont take money from corporate interests. And it leaves us free to represent the people. They want to know they have a fighter, and someone who knows their way of life and has been in the Community Like i have for 30 years. Reporter there are fresh concerns about the safety of our elections. Harry reid has sent a letter to the head of the f. B. I. James comey to investigated if russia is trying to temper in our elections. Deirdre well talk more about that. Blake berman, coming back to you in a little bit for an upd
Dagen so much news today. The president coming off. Larry summers. The big bombshell yesterday. Call the president on the phone and said were backing out. Connell that is still the big market story. He will watch washington. Youre right. Larry summers. Dagen what is Nicole Petallides watching. A big rally. Reporter watching how those pieces of news are marketmoving events. Fed contention. Ultimately the market thinks that the money printing keeps on coming from the fed. Jumping up 156 points for the dow jones industrials. The nasdaq composite, cora , nasdaq composite. All of the dow components have been in the green throughout the day. The other thing that is also interesting is how this delays to bond yields, the 10year yields. That may move to mortgage rates. We are seeing home levels soaring. So the pieces of news and then how they relate to these markets. Dagen thank you so much. Larry summers pulling himself out of the running to be the next chairman of the Federal Reserve. What t
Problem, also technical levels, the Dow Jones Industrials down 137 points, the lowest down 174 points. We are of of the lows of the day but seeing the down arrows and i will get to why dow is down. You can thank belling for that but there are concerns about earnings going for. Many Companies Reporting despite concerns about 2014, tepid outlook for these Companies Made everybody worry. We want to see what the open Market Committee said to policymakers and the vix to the upside. Lets get back to boeing. The worst performer on the Dow Jones Industrials 6 , it is accounting for 52 negative dow points. The dow, 1third of the dows loss is boeing. When you take a look at the s p 500 that may be a better theme of 1 2 . Boeing came out with a weak outlook for 2014. The move to hike Interest Rates and save lives, the nations currency scaring investors causing emerging markets to push european stocks lower. The real question is why is such a small economy having such a big global impact. We want
Ashley president obama speaking from North Carolina in a few minutes on a new effort to boost manufacturing, hopefully create jobs. Rich edson with a preview. Rich ashley, this is part of a private initiative the president announced last year in his state of the union address. The white house is calling the president s year of action previewing the white house fighter saying he will be looking for areas of bipartisan cooperation but he wont be waiting on congress to act. He will use his executive authority his pen and his phone to work with anyone to get things done. On this republicans say they are skeptical. If he is truly serious about getting the economy back on track and creating jobs, he will do more than just talk about job creation. Or bipartisanship today. He will actually work with us on rail Bipartisan Solutions to get there. Rich this evening at 5 00 he will meet with Senate Democrats whwill come hit the white house. Back to you. Ashley rich edson, thank you much. Lori appl