Lockdown in that country, and Risk Appetite builds. Asian stocks had for their best day since 2008. Equity futures point to a positive open in europe, as well, after an incredibly positive day yesterday. Just under an hour away from the start of cash equity trading on that continent in europe and over in the u. K. Lets look at futures after yesterday, the dow put up a up ad game the dax put record gain, almost 1000 points yesterday. It is pretty astonishing that we well. Tures up today, as i should say, the dow yesterday in the u. S. Put up a record gain of sorts, the biggest gain in the Dow Jones Industrial index average since 1933 and yet, you see futures on the s p and dow jones positive, nasdaq futures down a little bit, but they also saw a big gain in tech stocks yesterday, the nasdaq jumping yesterday about 10 . A lot of indexes yesterday in the u. S. , jumping 10 . The nasdaq, really just joining the bunch. Our top story is the stimulus packages across europe and in the u. S. Wh
Big move. Key under performer is the small caps. Watching . Hat are you we had a small decline for major averages. For the s p 500, three down days. First time since early october. Lets put in context of the technical part we have been looking at for months. All, with the rsi going appropriately from overbought to oversold, then the range everyone was talking about when the range was breaking out, we have this multiweek melt up, but today, we have these three small down days. We may see the s p 500 move down toward its but 50 day moving average. Supporting a pause or consolidation. But there is an area here where it lifts up and down. We may be starting a new higher range. Speaking of higher range, a big day in oil markets. The most active west Texas Intermediate Oil contract, rising 2. 5 . Lateis the highest since september. Futures up 1 or more across the entire oil curve. The brightucers are spot today. Exxon mobil up 2. 5 . Xle, sp, you have , they arerry and mlp among the biggest
Team coverage at this hour. Gerri willis on the floor of the New York Stock Exchange. Edward lawrence is live at the white house and phil flynn is watching the action in oil and gold at cme. Edward, first to you. Reporter melissa, lets talk about tax cuts 2. 0. The white house pushing another tax cut plan. Today at the retreat at the Republican House retreat in baltimore, white house Economic Advisor larry kudlow laid out the plan and said its coming. We will gather together the best ideas from the hill and from the administration and outside folks to provide significant new round of middle class tax relief. This is not a recession measure at all because i think the economy is very strong. Probably we might put something out, sometime middle of next year. Reporter Senior Administration official says some elements in the tax cut would extend the existing cuts beyond 2025. When they are set to expire, that includes on your screen, lower marginal rates, double the standard deduction, exte
The deregulation, just that i think that has more to do with the market going up than anticipation of the tax cuts. 22 regulations go away for every new regulation coming on. That has, that has really greased the skids for a lot of businesses in this country. No, youre absolutely right. And the momentum has been building before the tax cuts even went through, david and mary. So, and americans are watching. You mentioned the media earlier as well and how theyre not really reporting on the president s accomplishments. If you are one of those workers who got a yearend bonus of 1,000 david right. Of a number of companies that have provided bonuses, whether youre a republican or a democrat youre going to be taking a second look at what your representative is doing or not doing in terms of whats bestc for americans and whats best for the country. David by the way, one thing else that has been overlooked by the Mainstream Media is the importance of not only neil gore such on the neil gorsuch
Should you buy it . Well have the answer. Varney company, were about to begin. Straight to the big news. Lets look at the scenes by the way. Greece, theres a big pro bureau rally last night and three hours from now. The Greek Parliament will look at the proposal and it will reshape europe one way or another. Hes still there. Ashley webster, an amazing job, ashley. You may have seen it the finish line whats it look like . Im two weeks away from greek citizenship, put it that way. And a handsome match. Listen this proposal will be debated in parliament and it wont happen until 10 p. M. Local time. Right about now, its siesta time, but certainly not with the politicians trying to figure out whether they can propose this deal that the eu creditors will indeed accept. Weve had some interesting news out of the u. S. Treasury secretary jack lew speaking in washington and whats going on with greece. He said quote, i do not roll out damaging spinover impacts on the u. S. If greece exits. Now ex