Siegel is not scared by this. Hell join us in a couple of minutes. Its the interview that everyone is talking about. Bill groce gets really personal. He did so right here on street smart. In case you missed it, well talk about that and a whole lot more coming up here on street smart. We have a market selloff underway. Earlier in the day we did see the nasdaq turn positive. However, thats all gone with the nasdaq now losing better than 1 . We want to move on to the big three, the blue stocks were watching. Weve got to start with jpmorgan. First member of the Dow Jones Industrial average to report numbers, and they didnt look great. We saw earnings falling more than estimated. 42 drop in mortgage revenue, 21 decline in fixedincome trading. Both of those things were expected, judge maybe not the magnitude of the drops that we did see. So were seeing the biggest decline for jpmorgan shares in about a years time. At different points during the session. Well see if it keeps to that during th
Corporate america continues cutting jobs to deal with the laws unintended consequences the urban institute, a leftleaning think tank, says obama should scrap a key component of the law all together, employer mandate. Backers of obamacare take the think tank seriously but will they take this controversial suggestion to heart now . We have washington correspondent peter barnes with the very latest. Peteer . Gerri, thats right. The urban Institute Published this paper that the government could eliminate the employer mandate without reducing Health Care Coverage that much nationally. The mandate says any company with more than 50 fulltime employees who work at least 30 hours a week must provide Health Insurance for them or face penalties. 9 institute says that requirement has been creating labor market distortions like pushing companies to higher fewer workers or reduce their hours. It site cites plans by lands end, Regal Entertainment and seaworld to name a few, to reduce hours of parttim
The Nations Health care system at a crossroads. The twists and turns of the obamacare rollout are leaving concerned consumers to wonder what happens now and what will january 1st bring . Can the law with repealed be repealed . How can we clean up the mess created by obamacare . With more on this, Health Strategy associates and paul howard, a scholar at the manhattan institute. Lets just look at how in this law has laid waste in this country. Five Million People with no coverage, now the president and state insurance commissioners, regulators making law on the fly as they go. How can we clean up this mess . Well, look, the president s created a tremendous mess. Thai been working on this for three years. Theres no easy way to clean up the mess. You can start by looking at how the law is being implemented and say, look, lets delay key pieces of the law for a year, give people time to set up the web site, get it right, to take these huge costs off of individuals and Small Business for a wh
Melissa the countdown is on. Were starting with the effort to help you decode exactly what is happening with your health care. The state exchanges are set to open two weeks from now. Did you realize it was that close . New reports that the big three, aetna, unitedhealthcare and cigna, either arent participating or only involved in a small number of states. The reason . Because they arent sure if the exchanges will be good business. Our Favorite Health care expert is back to tell you what the choices will be. And what you will actually be able to buy. Paul howard is director for center for medical progress at the manhattan institute. So what does this mean to you if these three big companies, all of us have bought insurance from one point or another probably likely are not going to participate . So then who is . Probably means they dont know what their losses are going to be next year and they will sit out the market and see how it develops. You will see smaller, regional or statebased
All those stories and much more coming up on the kudlow report beginning right now. Good evening. Im larry kudlow. This is the kudlow report. Were live here at 7 00 p. M. Eastern, 4 00 p. M. Pacific. Now, in his first Cabinet Meeting of 2014, president obama called for all hands on deck to help promote and maintain the economic recovery. Topping his agenda, it appears that its economic equality and extending longterm Unemployment Benefits. The president said hes prepared to act even if congress doesnt. To find out the whole story, lets check in with cnbc chief washington correspondent john harwood who joins us with all the details. Good evening, john. Good evening. One of the things the president has been laboring under is the idea that he simply cant get anything done given republican control of the house, even though democrats control the senate. What he said in his first Cabinet Meeting of 2014 is that hes still got some tools and hes going to use them. Ive got a pen and ive got a p