Gdp rose by 0. 4 . Now on bbc news all the latest Business News live from singapore. The us dollar is on the rise, boosted by speculation the Federal Reserve may get a new caucus chief. Lets cross over to thailand where the funeral procession is underway. We are witnesses live pictures inside the grand palace as the funeral proceedings for the late King Bhumibol has begun. Good morning, asia. Hello, world. Glad you could join us. Anticipation over who might be head of the Federal Reserve is keeping the us dollar near its three month high. President trump has not said whether he will reappoint janet yellen, but has floated other possible contenders for the topjob. We floated other possible contenders for the top job. We asked inexpert how this is impacting the markets. You could say there is a lot of speculation over us bank policy. If the Federal Reserve raise Interest Rates, but should weaken the asian currencies. We have seen significant declines in the dollar over recent months. Wha
Driving the u. S. Stock market as well as hopes for some kind of tax cut. Those hopes sparking up again as we have the house passing the budget which in turn leads to higher hopes for a tax plan getting through. All the major averages are up. The russell 2000 of small caps is outperforming again. It is coming back to outperforming, up 4 10 of 1 . This is a small domestic dust and index for small, domestic orient an index for small, domestic oriented companies. Here you have the s p 500 versus the russell since the election. The russell had a big outperform its initially and sort of went sideways for a while, had another leg up in september and has gone sideways and is taking up relative to the s p 500, the relative performance improving as we get this latest wave of tax hopes. There is a Deutsche Bank index of highly taxed companies and low taxed companies. Here is a ratio of the two and the red line goes back to the election. They bottomed out in august and september and now they are
Republicans are divided. At stake the Trump Presidency and electoral future of the Republican Party if theres now a tax cut fail say goodbye to 3 growth and say hello to speaker, nancy pelosi. Theres a lot at stake for investors too. Trump rally based at least in part on the expectation of trump tax cuts welcome and tax growth agenda what happened to the rally if republicans fail again. This is crunch time, only the democrats will be happy if theres another republican fail. Varney company is about to begin. Stuart ibm will be a big drag on the dow industrial average theres a longterm negative trends ibm taking in less and less money as years go by and watson in the ads not a wild success. More on that in just a moment. Now look at amazon is and blue apron from rumor to reality in a matter of days. We heard rumors a few days ago, now amazon is advertising its rival meal prep service. No recovery for blue apron shares, am i right in my premise that theyve gone are from speplation and blu
Lets quickly check of the markets, global Stocks Holding near a oneyear high as we are seeing more and more rising oil prices, now above 45 a barrel. If you look at wti, you can see it around 45 currently. Its pointing to a resurgence in the emerging markets, and to a saudi stabilization. They keep on saying they want some price decrease, but there rhetoric is certainly filtering through to the markets. This is the big picture for the e markets. The yen lower after slow forecast, a lot of investors thinking the boj will have to do more. Lets get more of the markets with nejra cehic. Nejra the chinese yuan has suffered its sharpest drop in six weeks after there were concerns raised about Economic Growth in china. Figures showed new credit growth in july was the weakest in two years. And investment also we get, indicating that the reason stabilization may be faltering. Two terminals. At new yorks jfk airport were evacuated after initial reports of shots fired. The nypd tweeted that all t
Jed robert mcgee was sentence yesterday robert mcgee was sentenced to community service. John gilmore was walking home from work when he was hit by a car. Robert mcgee was driving drunk when he killed the man described as the backbone of his family. Wednesday afternoon mcgee was sentenced to Community Corrections which means six months in a treatment center. I dont believe that six months in a residential facility given his attitude, given his history, is justice. And its an unfair sentencing to the family until we also. Mcgees Attorney Says he is now remorseful and turned his life around in honor of the victim, john gilmore. She says he is working with a local high school to show students the consequences of driving drunk. We started the week with snow and that is the way well finish it. Snow is already falling in the the metro wont see too much, just a few evening flurries. Meteorologist kathy sabine will join us in a bit with a timeline of this storm. The ramp from eastbound c 470 t