Today, all triggered by headlines about the gop tax plan. The big fear for the market, the steep cuts in the Corporate Tax rate may be pushed back until 2019. And with that, stocks sold off, though eventually they cut some of those losses. The dow finished the day down 101 points to23,461. The nasdaq dropped 39. The s p 500 was off nine. The tax wrangling included, today, the passage of the legislation by a house panel. That paves the way for a full house vote next week according to majority leader kevin mccarthy. But what moved stocks today was not news but details from the newly released Senate Version of a proposed law. Ylan mui has more. Reporter the senate releasing its longawaited tax plan today. That proposal would delay the deduction in the Corporate Tax rate by one year. It wouldnt get down to 20 until 2019 but it would stay there permanently. It would limit the companiess ability to deduct interest. There are big changes on the individual side as well. The senate bill would k
That today, we are here with ron baron at the baron onference we have a lot of things coming here the resort ceo will be joining us and hyatt ceo is going to be here these are three invesmentes of baron funds. Two of the three, baron already made over 1 billion on. Im not going to tell you which two. You have to stick around to find out. The other made several hundred Million Dollars already. We are going to talk about these issues when we sit down with ron, he talks about the broader markets, which he is very positive on them we are going get to that in a moment and we talk story stocks. Stories he sees from this bottom up investment that he does where he looks at things very, very closely, he and analysts we are going talk about the bargains they see along the way and the deals that are out there on the horizon hes sitting out there with us we are going get to him in a moment guys, its coming up in a few minutes. He did not invest 100 billion dlar to make a billion. He is far less th
Disaster insurance for your portfolio. And remember, the force will be with you, always. But with media stocks in a freefall, will the force be enough to save disney with the reports earnings next week . Well tell you how to cash in. The action begins right now. Plus, lets get right to it. Who ill stockings are at an all time high, commodities are getting crushed, crude, copper, gold, silver, what does it say to the health of the global xi and the marks right here . Lets go to money. Sam, what do you think . Well, it is something that stuck out over the last couple week as the markets have levitated here near the previous alltime highs may march 1st. One of the thing thats interesting is the weakness of the dollar we had over the same time period. All of a sudden we sea a weakness in china and weakness in commodities, a thats not round, reits that are kind of stock, theyre not signaling anything, theyre not signaling the same thing the stockmarket is about to make an all new time high.
But with media stocks in a free fall, will the force be enough to save disney when it reports earnings next week . Well tell you how to cash in. The action begins right now. Lets get right to it. While stocks are at alltime highs, commodities are getting crushed. Crude, copper, gold, silver, all falling hard this week. What is it saying about the health of the global economy, what does it mean for the markets . In the money, dan . It is something that stuck out the last couple of weeks as the markets have really dated here near the previous alltime highs made on march 1st. To me one of the things thats interesting about this commodity move is also the weakness in the dollar that weve had over the same time period. All of a sudden now were seeing weakness in china, china equity markets. Weakness in commodities. A dollar thats not rallying. Rates that are stuck, not really signaling anything. Theyre not signaling the same things that the stock market is about to make a new alltime high.
Estimates, revenue from this widely held stock also fell short of expectations. And this comes despite big blockbusters at the Box Office Like the force awakens and zootopia. Disney earned 1. 36 a share, below the 1. 40 that analysts expected. Revenue of 13 billion was higher than last year but wall street was looking for even more. And that along with lower ad sales in disneys Media Business weighed on shares. Julia boorstin has more on disneys disappointing quarter. Reporter disney shares falling in afterhours trading on earnings that were short of wall street estimates for the first time in years. Still adjusted earnings per share grew 11 on standout gross from the movie studio growing its revenue 22 and its operating income 27 from the year ago quarter on blockbusters the force awakens and zootopia. Ceo bob iger kicking off the thannings call by talking about the h films. There seem to be concerns about the Media Networks division including espn, its revenue is flat in the quarter,