done for descendants of slaves. reporter: after two years of deliberations, california reparations task force sent to final report to the state capitol for the state legislature and governor to decide how the state should handle reparations. many expected it to call for a concrete dollar amount, the task force is leaving that challenge to the legislature and it provides over 115 recommendations spanning from cash payments to policy reforms to a formal apology to eligible residents designated as descendants of slaves. critics call this effort fiscally irresponsible noting how california is facing a $31.5 billion deficit. reparations is the extraction of money from people who were never slave owners to be given to people who were never slaves. we will never see reparations paid in california. again, it s illegal. it s unconstitutional. it violates the equal protection clause. reporter: progressive governor gavin newsom signed legislation creating the first in the nation
Record stock rally off to the best start, best yearly start in more than a decade. Apple addicts, billionaire share hoerlds urging the iphone maker to take action against the long term consequences of childrens smartphone overuse. Nvidia saes big bet on autonomous driving, teaming up with vw. The best start to a year since 06, closing the week at record highs and s p and nasdaq turning in the best week since december of 2016 and the street now beginning to look ahead to earnings season wells fargo coming out with results later in the week well get Inflation Numbers and retail sales and citi and Media Conference and Morgan Health care conference. You mentioned nvidia and wong going down to consumer conference tomorrow. Whats happening is an interesting opportunity, the futures are down for once. People can get in provided that the stocks themselves dont go up im talking about caterpillar, United Technologies and nvidia, they are ramping, maybe let them come in and get a chance the resea
Million by 2026. Thats compared with the number under the current law. The scoring also found that premiums would rise substantially before they fell. And that the legislation would decrease the budget deficit by more than 300 billion, principally via federal medicaid cuts. These numbers will be analyzed and then some by senators ahead of a potential vote on the legislation later this week. Health care stocks were mixed on wall street today as were the major averages as you see there. The Dow Jones Industrial average added 14 to 21,409. Nasdaq off 18 and the s p 500 rose fractionally. And health care, of course, isnt the only thing investors will be watching this week. Bob pisani looks ahead. Reporter it will be a busy week for the markets on Economic News, earnings and fed officials. Fed chair janet yellen speaks tomorrow on london on Global Economic issues. Its been rough for Economic News recently. The news in the Second Quarter has not been much more positive than the first quarter
First, we start off with the banks. Despite the major reversal the financial still dragging. Checkout the regional banks tracked by the kre now negative for 2017 down more than 1. 5 today. J. P. Morgan, wells fargo, bank of america, set to report earnings tomorrow morning. Will Bank Earnings derail this rally, pete . Youre an owner, are you worried . No. What weve seen is this consolidation going on for over a month. If you look at the range, banks youre looking at basically call 23 to the upper 23 it, 23 it 80. And thats where weve been and where did we finish today. By the time everything was said and done, we finished at 2340. So its sitting right where we want it to be right now those of us that are on the bullish side. When i go to last quarter and i see the numbers that were produced, all these are going to be reporting tomorrow, were going to find out but my hunch is that the banks are doing extremely well still. I think the environment was great for trading. Because of that and
Financials hitting its high of nine years, bank of mek, citi, goldman, morgan stanley. Up a full percentage point qqq. And this rally is reaching all corners of the market with more than a fifth of the entire s p 500 hitting new 52week highs. Brian . Melissa, thank you very much. Im Brian Sullivan down in washington, d. C. What a day to be here. The good feeling after the speech certainly has investors feeling good. But speech aside, is the gop more likely to really get what they want . What are the democrats likely to give up to help the gop get to their goals . All that stuff from here. Great guests lined up from the Russell Senate building rotunda here in washington, d. C. Ill send it back to michelle. Actually, ill pick it up from there. Tyler. Welcome, everybody, im tyler mathisen. What a day we are witnessing. Record move for stocks, president s comments before a joint session of congress, kicking the trump rally into high gear. And i thought it was just because im back after two