South korea were closed for whats the mid autumn festival there. And the european equities, things are up. Cac is flat and if ftse is up by 0. 2 . This morning crude is up by 24 cents still trading at 24. 81. Lets get you caught up on the busiest day of the week. The bank of engallant is going to be announcing its latest policy decision. Expects to leave rate. Jobless claims are out at 8 30 time. The Producer Price index and september philly fed index and at 9 15 look for august Industrial Production. We talk about the apple iphone a lot. Apple now saying the initial quantities of its iphone 7 plus are sold out. Thats the one i want. The new gadgets will hit store shelves sometime tomorrow. Consumers wont be able to buy sold out phones but the company will continue to take orders online. I wont be releasing its first Sales Numbers of the iphone 7. Why . I think they made that decision a while ago. It reminds me of the details. In fairness to apple, nobody else does. Samsung doesnt. The
If you check out crude oil prices. Crude was all over the place yesterday. It did end the day up. See its up 31 cents right now. Wti at 45. 14. Nasdaq closed at a new high for the year yesterday. Lets get you caught up on some of the other big stories were watching. Notable comments coming from San Francisco fed president. Cue the star warz music. Repeating calls for gradual Interest Rate hikes saying it makes no sense to get back to a pace of steady increases sooner rather than later. The economy is in his words in good shape. Fed policymaker criticizing the Central Banks approach of targeting low inflation saying that method gives the fed too small of a buffer to fend off shocks. It is yap big day. Thoeld holding product event. Expected to unveil latest product lineup at 1 00 p. M. Eastern time. We talked about it. The focus of the event on the new iphone 7. The phone likely to have a faster processer and more pressure sensitive button, higher more pressure sensitive. This is the det
Wonderful example so assuming some social and economic provisions ought to be in the tax laws, lets think about tax credits. Every dollar of tax credit saves you one dollar. It doesnt matter what your marginal tax bracket is. So if you owe a thousand dollars and you get a thousand dollar tax credit, you dont owe anything. If you owe a million dollars, you owe a million minus 1,000. Now, the tax credits also should be refundable in many cases where they are social programs because a refundable tax credit like the earned income tax credit which says people who are working but dont earn a living wage are going to get extra money to help them have a living wage. And so if you make it refundable if you dont owe the income tax, youll get a direct grant. Both commissions said that about the Home Mortgage interest deduction, replace it by a credit. Congress ignored that. Finally, you might have the largest credit for people who need the help most and the least credits for people who need the h
Im sara eisen. And a throwback. Backstreet boys. Im excited about the rest of the show. I wasnt beforehand but i really am now. Lets get to the markets. There should be british boy bands in there as well. I dont think we know them as well. Well, i do. Weve got a positive tone to u. S. Equity futures after another selloff yesterday on wall street wasnt as sharp and as extreme as we had been seeing but nonetheless, a weaker tone to the day. Nasdaq futures up a little more than 9 points. Were seeing fractional gains in the premarket, flat sessions in europe. As for the treasury note yield which manns the center of action lately, the tenyear hovering above. Weve seen the backup in yields which is sort of sharp. Were going into a fed meeting next week tuesday and wednesday. Well get the decision. The september odds, 20 that they raise Interest Rates. I wonder if thats low. Well talk than throughout the hour. Weve got a few guests on that. Absolutely. Were moving toward a new higher range. I
Down nearly 3 . Trumps iowa rally happening hours before he delivers of course his big speech in pennsylvania where he is laying out child Care Affordability plan. This has been a quite a pet project of his daughter. She will be there alongside him tonight. Anyway, lets listen in for a moment here now as he campaigns in iowa. [cheering] farmers are being left out in the cold. Family farms are the backbone of this country. Well end the epa intrusion into your family homes and your family farms. [cheering] we are going to protect the renewable fuel standard, cornbased ethanol, eliminate jobkilling regulations like the waters of the u. S. Rule, and provide desperately needed tax relief. [cheering] our plan lowers the tax rate on family farms down to 15 from 35 . And you watch your farms grow. You watch businesses all over the country grow. You watch jobs come back. It will be a beautiful thing. And remember this, the double taxation of family farms at death. You want to leave your farms t