Happening in washington and focus on wall street the capital can be a disturbing side show. The truth is, theres a tremendous disconnect between what our leaders are doing and what our stocks are doing. That really matters. On day like today with dow gaining and s p advancing. 12 to record close and nasdaq ending flat, very much in the grips of washington. Even though after you hear this top monologue, i think youll agree we shouldnt be. First complain how political news interacts with stocks in general and then drill down to the specifics. Facts. Biggest single legislative push out of of washington this year is effort to repeal and replace obamacare. Maybe thats not how President Trump wanted it to play out. I think he favored tax to promote economic growth. Did he compromise with republicans in congress . Did his allies hijack the agenda because hated obamacare so much couldnt think straight . Doesnt matter now dodge. If you hear ryan talking about putting it back on the agenda, tax.
Going straight up the dow is up a little bit as well. Not far away from 23,500 now is it . One more thing despite the hurricanes in september, the economy is still expanding at a 3 rate. Who would have thought . Add it up please, technology surges profits across the border really strong and trump budget win to growth and trump rally rolls on this friday morning. Varney company about to again. All right lets start with overall market dow futures showing a gain of maybe 20 points, hello. We have a bell for you a little later. Looked a nasdaq way over 6h100 well because technology is very strong. Look at this. Amazon microsoft alphabet promise to show their preMarket Performance. Will you look at that. A. M. Son premarket up 80 i cant read 87 dollars per share. Google is up 44 dollars a share. And microsoft is closing in on a 6 per share gain. Jeff is with us with circle square alternative investment dont comment on three stocks. Comment on the overall market. Is the performance of Techno
Our road map begins with more earnings on the way and counting down to jobs friday. Goldman slaps a sell on gm after a very strong rally in those shares they are down now in the premarket. And first charges in Robert Muellers special investigation are likely former Trump Campaign chair Paul Manafort has turned himself into the fbi this morning. Stocks are beginning a new week after the major rally in big tech so far this month the dow leads the way and nasdaq surpassing the s p thanks to the tech surge. If we can avoid going negative for the month, guys, the s p is down one month this week by. 4, almost a perfect year up every month so far. Were in some sort of sweet spot where it does appear on friday in any other market i would have said thats a blow off. You see incredible gains from the big Nasdaq Companies but in a blow off typically the numbers cant match the stocks but the numbers were quite impressive and i know its not the focus but when you go back over intel, intel has this
Dow jones industrials down 26 points, s p down 11, the nasdaq by 29. Some of the big gains yesterday, russell 2,000 lower by 12, but it is oil that is really holding this market hostage. Its underpinning stocks. And House Speaker paul ryan says the nation needs to change the antiquated tax system that hasnt been updated since he got his drivers license. May salvage tax reform, its 70,000 pages, and he held up what he says will simplify the 70,000 page outdated tax reform code and socalled tax return postcard will be at least one of the saviors here. And while ryan focused on one of the trump administrations main domestic agenda items, the president was talking russia with the ukrainian president as relations between the u. S. And Vladimir Putins military become more hostile and outright dangerous. Weve got the fox business all stars ready to go on all of these major developing stories. Adam shapiro digging into the ryan tax plan. Former assistant secretary of defense larry standing by
Dow on track for the worst month since january. Icahn the latest the step down as an adviser to the president and now looks like there maybe communications with all of that and another shot fired in adps ackman battle. Well break down what that means. Four week losing streak for the nasdaq and given sort of these levels here. Not surprising that the dow is on track for the first month since january. I have been watching and reading and theres people that feel that a 2 correction was warranted. Thats not a correction. I mean, we had a meandering. Things have been good. Theres things like foot locker that are devastating things like estee lauder its just hanging in there oil tried to put a bottom in on friday news camp was good for oil but that was the most noteworthy thing that i saw obviously the bannon news was okay cohen in and banno out. The failed socalled bannon rally bother you. Not at all. Were at a moment where theres more people taking vacation than usual. These things i know