New york stats state we have full Team Coverage stooefr steve is all over the unprecedented action the package has hit some snags what is the latest the out come is looking like the same one we got last night with democrats not signing onto advance the 1. 6 plus trillion dollar stimulus package. We have a vote right now of 4442. 44 yays. 42 nays. You need 60 votes to pass it its difficult with five in swe selfquarantine. Bernie sanders not voted last night. He was following this from afar and following this in negotiations from there. Senator Chuck Schumer said today this vote is meaningless the package is done. The real work is happening behind closed doors. To that end he said that work is very, very close to producing a deal that inif he canned some optimism into the market but he is making clear hes not authorized democrats to back this move to advance the vote as it stands. We know cabinet members have been meeting to reach a compromise slow and steady progress is what they are ca
Investors to take risk even with the pullback, dow slipping 130 points and nasdaq losing. 27 and what a week. We almost went to war and then we didnt go to war. We almost didnt get a trade deal and it is coming next wednesday. And then this morning we were worried the Labor Department report might come into too hot and they might mouth off about inflation and a bunch of governors speaking next week and that could have gotten ugly and how about a goldilocks job number, one that was not too hot, not too cold. You get that ive got to tell you, we created good jobs but we had sub 3 wage gain so the the feds should not be worried it could have been a lot worse since some of the shortfall related to a companys specific problems at boeing that just said the former ceo is not going to get severance the labor report was one reason to buy stocks and that is what happened this morning for even the most raging bulls either ran out of capital and got bored of buying the same old stuff or nothing ne
Maybe you dont care but you do care about the american economy. And boeings news impact us all. We tell you whip process then apple hitting the alltime high today, three analyst have three different takes on the same stock. Well find out who the traders believe is right all that as we begin with an earning alert on fedex not good. Fedex stock down again, missing on earnings and revenues lets get back to eric chemy at cnbc hq with more on the fedex flop. Thats right a disappointing quarter for fedex. Ceo fred smith acknowledged in the release that the fiscal 2020 is a yeerd of continued significant challenges and changes. The the company missed on top and bottom lines setting weak Global Economic cannibus, increased fedex ground costs, the loss of busy from amazon, shift to lower yielding services pb, no competitive pricing environment and late Holiday Shopping season. Looking ahead, the company reduces guidance to reflect lower than expected revenue and higher than expected expenses. F
Dow down 37 points and the s p nudging back up towards the flat line at 2066 and change and nasdaq in Percentage Points the big lieutenantser, down twothirds of a point. Seven of the sectors are low for the year including staples, i. T. , financial, industrials, utilities and energy rounding out the bottom of the pack. Both down more than 9 year to date. Oil getting hit hard again today before staging a bit of a comeback. There you see its got modest losses right now. West texas intermediate at 51. 97. Ice brent crude at 56. 43, down 11 cents or about a fifth of 1 . And then ty yield falling enough that were starting to hear about lower mortgage rates. The tenyear right now earning 2. 221 . Euro Group Leaders meantime emergeing from a crucial summit on greece about one hour ago. The result nothing, according to reuters. Another meeting set for tomorrow. The eurozone summit is under way now. Yields meantime skyrocketing on the greek twoyear bond at 49. 5 . The etf that tracks greece all
Our international correspondent, hopefully i have the title right and marty schenker. What is your title, i do not have it . Marty it is too long. The smartest guy. Julie are you surprised we are not seeing much of a Market Reaction . Marty i am not surprised because rates are so low and the markets had priced out a december rate hike at the moment. There is not a lot of plays for them to go. Stanley fischer is the vice chair, not of chair, he is very influential but also seen as a yellen and janet the fact she is there does not change the outlook for shortterm policy. It might change longterm about who gets appointed but between now and the end of january when she would believe in her position probably does not have a major impact. That stansay this fischer has vast relationships around the world with other Central Banks and he was, i am sure, the goto guy when central bankers from around the world needed feedback about the u. S. That is a communication mechanism and will be gone whic