Fix will involve tax hikes of some sort, and spending cuts as well. We spoke with economist dean baker from the center for economic and policy research, and economist Douglas Holtz eakin of the American Action forum. N. B. R. s Washington Bureau chief darren gersh began the discussion by asking baker what tighter federal policy will mean for the economy in the coming year. Insofar as we get austerity, we get tax increases, spending cuts, thats going to slow the economy. I anticipate a deal so we are dont see the full, you know, 500 billion tax increases 100 billion spending cuts but whatever we do see in tax increases, spending cuts will be a drag on growth which is really not what we would see. If i had my choice we would have more stimulus, more tax cuts, more spending, boost the economy. Are we headed for europeanstyle like austerity,. We shouldnt have to be. What we should be doing is fix the longterm debt problem. And that should happen in the spring. Between now and the spring we
That led to a powerful rally today, continuing the momentum from friday after that white house meeting between president obama, and congressional leaders. Stocks rallied right from the opening bell the dow surged 207 points, the nasdaq jumped nearly 63, and the s p 500 rose 27. Tom those hopes about a fiscal cliff deal may be good enough for Stock Traders today, but is the economy in a position to deal with whatever solution politicians may hammer out . Its expected that the fiscal fix will involve tax hikes of some sort, and spending cuts as well. We spoke with economist dean baker from the center for economic and policy research, and economist Douglas Holtz eakin of the American Action forum. N. B. R. s Washington Bureau chief darren gersh began the discussion by asking baker what tighter federal policy will mean for the economy in the coming year. Insofar as we get austerity, we get tax increases, spending cuts, thats going to slow the economy. I anticipate a deal so we are dont see
Susie optimism was the word of the day here on wall street. Investors were feeling encouraged that fiscal cliff negotiations in washington are making progress. That led to a powerful rally today, continuing the momentum from friday after that white house meetingetweenredent obama, and congressional leaders. Stocks rallied right from the opening bell the dow surged 207 points, the nasdaq jumped nearly 63, and the s p 500 rose 27. Tom those hopes about a fiscal cliff deal may be good enough for Stock Traders today, but is the economy in a position to deal with whatever solution politicians may hammer out . Its expected that the fiscal fix will involve tax hikes of some sort, and spending cuts as well. We spoke with economist dean baker from the center for economic and policy research, and economist Douglas Holtz eakin of the American Action forum. N. B. R. s Washington Bureau chief darren gersh began the discussion by asking baker what tighter federal policy will mean for the economy in
A great indication of how the market is doing, the Broader Market and it hit a record alltime high today of 1741. That is great news up 42 this year, 2013. What a nice run for the s p 500. Many names within it outperforming the overall market. Right now the Dow Jones Industrials up 8 points. As i mentioned, names hitting record, also take a look at google which impress investors as it crossed the 1000 mark. It is pretty fun to watch across that level earlier this morning. Trading at an alltime high of 1007 and change. That is a great run therefore google which has had a wonderful run year to date. Overall the market is looking pretty good, other names that have been hitting some highs, chipotle Mexican Grill. Overall a winning day as we wrap it up. Next week the first of our jobs report. Now that the government is open again, we can get those pieces of information, key information. Back to you. Lori debuting 85 per share now over 1000. How times have changed. The s p 500 as we are repo
Dollars the oil dropping by 2. 01. Potbelly shares were up after the close on its on first earnings report. Shares shot up 5 after topping estimates. Starbucks owes kraft 2. 2 billion after the coffee chain ended its Grocery Store deal early. Bloomberg news reports j j will spending 4 billion dollars to settle more than 7,500 lawsuits over its recalled hip implants that allegedly caused tissue damage. Jim richter of Performance Trust joins us on this wednesday morning for a close look at the bond market. Good morning to you. Good morning angie. What will you be looking for in the market today . Especially on the heels of that auction that we had yesterday in the market. The auction may have been relevant. I think bigger news that the bond market is still wrestling with is fridays non farm payroll. It came out much larger than expected and it had a pretty violent impact on treasures. They had a pretty significant selloff across really anything longer than five year maturities and out. I