Look at the other markets as well. Weve got the nasdaq, the russell, and dow transports for everybody to keep an eye on. The nasdaq having a great session, um 1. 25 . Good enough to puck it back at 5,043 for the level the. The russell, the small caps doing pretty well, up almost 1 or 11 points. The transports are lagging a bit, up half a percent. They have suffered this year, especially, coming back a lit there will. In the midst of all this real action, there was a seemingly phony bid for avon. Halted shares of the cosmetic maker. More on that story later. What a crazy story that was midday at the New York Stock Exchange. Lets get to our closing bell exchange, talk about this rally the Economic Data, and a lot of other things. Heather hughes from sun america funds joins us today. Jacob jordan from hd best Financial Services with us, jason tried from glen meade is out there and so is Rick Santelli. Rick, youve established that you believe the rising yields in the treasuryies is what yo
Upg upgrades well break down the streets key number first, new numbers from the fed around inflation hey, steve yeah, carl, good morning. Not very good news from the new York Fed Survey of Consumer Expectations with inflation rising across the board for all tenors let me give you a chart, the oneyear up 5. 9 is the expec tase for inflation in one year. Thats up a half a point after declining for several months in a row. The three year up. 02 Inflation Expectations surge for gas prices and food. In fact, the oneyear outlook really mirrors the rise in gas prices over time unemployment expectations hitting the highest level since april 2020 however, expected growth and Household Income also was up to 4. 3 thats the highest on record for this survey and the Spending Outlook also grew by one percentage point to 7 back to you. Steve, thanks for that. We need to start with the amazon news today, moving higher in the last few minutes in the wake of the New York Times story, which just broke, r
I mean yes we are going to be living i mean i have an economic forecaster but everything i read suggests we are going to be living with an unusually high levels of unemployment, a lot of pain from over indebtedness and a quarter of the country is on food stamps. I mean its not a great depression. We are not repricing exactly what happened in the 30s but its a version of that. See the Consumer Financial Protection Bureau estimates that Student Loan Debt is more than a trillion dollars. Up next the Senate Budget committee looks at how that that affects borrowers and the economy as a whole. This is an hour and a half. [inaudible conversations] see this hearing will come to order. I want to thank senator johnson who is filling in today for my Ranking Member senator sessions. Welcome to you and all of our colleagues who are joining us today as well as a roomful. Welcome to all of you on a really important topic today. We are going to be talking about a challenge that 40 Million People aroun
People have to turn to Student Loans to help finance their education. In just a few moments you will hear from britney jones. Shes going to be talking about how taking out Student Loans made it possible for her to get a College Degree and britney id look forward to hearing more about your experiences. You were to start a teaching career and the same time paying down the student loan the but later college. Of course britney is not alone. Dealing with overbearing student debt is becoming a reality for growing number of americans. Statistics are staggering. Today the average College Graduate will have to pay back around 30,000 in Student Loans and a Record Number of young households owe student debt. Back in 1989, 16 of young households have student debt. By 2010 that figure had more than doubled according to the pew research center. More young people than ever before are dealing with more student debt than ever before and that can have lasting consequences. Americans who took out school
Mesherment that shows that in a more compelling way. Each has a security plan, right . Yes. Has Homeland Security done an analysis of what the total cost would be to bring it up how much total for all of the tier one ports would we need to spend to bring them where they need to be. Do we have that . Do we know that . Im not aware of that analysis. Thats an important question because if you dont know what they need, i know you know where the weaknesses are. If the total bill for bringing our tier one ports is 2. 5 billion, were 12. 5 years from bringing that. By that time youll have replacement needs so the question is dont we think its important to know and heres the total cost to get us where we want you. Which one of those top eight ports, which one has the greatest vulnerability and should we not be spending maybe 70 million at one port and 30 million at the other eight on the basis what the total need to to get them to the level where we feel confident. Well take a close look at th