This, there is absolutely no basis to believe the claims made by this criminal, hillarys email problem just got worse. As this was breaking, hillary released an antitrump attack ad, endorsed linking trump to the klan and implied hes a racist. As for trump himself in the New York Times, what would he do, the day he is walks into the oval office as elected, President Trump tells the times exactly what he said he would do wall and all. The fire in the heart of a Canadas Oil Patch is big enough to affect crude prices all over the world. Stocks up, tesla up, diet companies up. F fitbit down. Varney company the new leading Financial Program in america about to begin. Is that the song tequila. Got it. Cinco de mayo, mexico celebrating victory over the french. America celebrates it, too, by drinking tequila. Tamara holder is here. Wait for it. If i were a student on an american campus and wore a sombrero for a Cinco De Mayo party. Do i need sensitivity training . Do i need to be banished . Do
The top Global Business stories. Another sign of progress in the labor market, u. S. Companies 000 workers last month which is the seventime in the last eight months payrolls have climbed by at least 200,000 according to adp research. The payroll report is a out officially friday and it is expected a gain of 230,000 jobs. Record. Nday set a sales according to Research Firm com score, shoppers spend more than 2 billion online monday. Growth is officially slowing and consumers of and spreading out there shopping two other days during the holidays. On ready for fireworks again capitol hill. This morning, congress will question an executive from the airbag maker who is refusing to issue a nationwide recall. Rejected the recall demand by u. S. Regulators and the airbags are lame for at least four deaths and they have recalled cars only in states with high humidity which is partially blamed for the malfunction. Ralph nader says takata thinks it can get away with defying the government. They
Well see if we make another go to close above that level. And were going to get the outlook for stocks in general with famed Hedge Fund Manager Stanley Druckenmiller. Hes been shorting ibm for whitequite a while. We touch on a wide range of issues. I bet talking a little bit about the fed. Auto little bit little bit. You dont hear from him that often so its even better. Take a look at the markets. Dow is up by 122 points. Theres the nasdaq as kelly said, about 4. 5 points back below the 5,000 level, but it was a historic day earlier in the day over at the nasdaq and thats where we see it is right now. The s p 500 is up just shy of nine points. Time now for our Closing Bell Exchange with darren wolfburg margie patel from Wells Fargo Fund management Jeff Killburg from kkm financial, joe tannous and our own rick santelli. Joe, what should we be thinking about this day . Should we be celebrating or fearing it . I wouldnt necessarily be fearing it. I think its nice to see the nasdaq hit the
Wait. He said he would wait. If you were on the Federal Reserve its a very close call. If you were on the Federal Reserve financial policy committee, would you be concerned there are beginning of signs that this very easy money, lots of low rates is causing excess . Yes. I think i would point to the leverage lending market, for example, where the terms on a lot of loans have become socalled covenant lights so a lot of the terms have gotten much easier. Banks putting fewer and fewer strings. Right. Its not just the banks. Those loans tend to be securitized. The banks originate them and some are in the market. Junk bond market. And there are other signs. I do think i would be somewhat concerned. I think the Federal Reserve has reacted in an entirely appropriate and proportionate way. Among the things theyve done is they have put out guidance on leveraged loans and said we are worried about whats happening here to the banks. You guys need to be more careful with what you put on your Balan
Ill make the closing comment on this issue, which seems to me the fed has sort of been between silla, we tried very hard to create a fed that would not be subject to political control and manipulation, and countries like argentina, you see what happens when Central Banks are subject to political manipulation, but we tried to offset that with much more private sector influence and private sector influence, but the problem is, you fall into the other trap then of being subject to too much industry influence, and i think thats been a continuing struggle with the fed, how do you actually remain balanced on the high tension wire, right, between the two threats, and i think the other thing about the new york fed in 2008, steven friedman, who was the former chairman and still a director of goldman, was on that board, remained on that board even after goldman became a Bank Holding Company, which technically wasnt allowed, and in addition brought significant amounts of stock after goldman becam