Welcome stocks are surging dow is up nearly 500 points. S p 500 climbing back towards record territory were just about 3 below record highs and the nasdaq jumping almost 2 of the session check out the retail rally Department Stores like macys nordstroming and lulu lem hn that stock is higher well have more on those moves later on weve got the angles of the big rally covered. Seema at the new york stock exchange, eamon javers at the white house where optimism spurred this rally and Steve Liesman on the year of the right cut. We start with seema. A triple digit rally for the dow as u. S. And china trade officials confirm a meeting frg october. The s p 500 is back above with a 1 gain. For the week, the dow is up about 1. 4 being led by banks and industrials. And if we dig into the financials, youll see the big banks like citi and goldman are up about 1 to 2 2. 6 for goldman industrials that initially sold off this week on fears that a meeting would not take place between the u. S. And tra
Quite as well as some would hope. Lebron james, where is he going . Cleveland, ladies and gentlemen. Big shocker to many, but he says the pull of home was so great that he wants to go back to where it began for him. Sue is taking her talents down to the nyse, but dominic chu has breaking news. Theres all kinds of action in the market all the time, but in this case here, lebron james was the nba story that everybody had been waiting on, because so many free agent it is now can move to where he need to go, but heres the bottom line, lebron james is going back to cleveland, where it all started for him. Hes an ohio native. Again he played for cleveland right out of the draft, and he wants to help them earn a championship. Lebron james basically said in his s. I. Story, in his own words that he believes that he wants to go back to cleveland to help them win a championship. He only wanted to go back to cleveland. The only reason he would have left miami was to go back to cleveland. Now, he
Painkiller. It is sold under the street called thera flu and income tax. Expected to cut food stamp spending but not as early some wanted. Spending will be reduced by about 1 . Some lawmakers wanted it cut it five times that much. Food stamps are part of a huge farm bill stalled in congress for two years. Hillary clinton is speaking out about her tenure as secretary of state. As she looks back over her four years of service, clinton said there is one major regreat. Here is abcs jonathan karl. Reporter Hillary Clinton was asked if she would have any doovers as her four years of secretary of state. Without hesitation, she pointed to benghazi. The attack that killed four americans, including our ambassador to libya . My big of the regret is what happened in ben gazy. A terrible tragedy. Also a political issue. Republicans saying Hillary Clinton bears the responsibility for the break down in diplomatic security. Though she called the attack her biggest regret, it wasnt exactly a mea culpa.
Get ready for the testimony of janet yellen, her first testimony to Congress Tomorrow before the House Financial Services committee. So were in sort of a wait and see mode today. Certainly are. Meanwhile, what a mess over at aol. The ceo now apologizing for citing the cost of providing insurance for, quote, distressed babies and plan to match 401 k payments only at the end of the year. Who should the ceo be looking out for first, his workers or shareholders . Well make the payments at the end of the year or no. That was easy. Also, that report that obamacare is going to cost the equivalent of over 2 million fulltime jobs. That just continues to rattle washington right now. It was a big focus of the sunday morning talk showinp morning talk showins morning talk showinhows, and no Tommy Thompson will be here exclusively. Hes ringing the closing bell for his organization tooteday. Hes got some views coming up. We know were going to hear a little bit more about it perhaps from the gop in ju
Market participants eager to pick up value stocks at cheap prices flocked to automotive firms. General Motors (GM) bounced by 15.57% last month, compared to the small 6.76% return in Ford (F).
The market does not care about GM’s expensive wage .