Leaders, including chief executive of g. E. , warping about the potential warning about the potential economic consequences of the bill. You had letters from the director of the c. I. A. , the chairman of the joint chiefs of staff, the secretary of defense and the commander of chief all warning about the potential impact of the bill. Aum of that communication was made public before Congress Cast the first vote to put this bill into law. Yesterday. So the hard to take at face value the suggestion suggs that somehow they were unaware suggestion that somehow they were unaware of the consequences of their vote. Even if they were, whats true in Elementary School is true in the United States congress. Ignorance is not an excuse. Particularly when it comes to our National Security and the safety and security of our diplomats and our Service Members. Ill also say that its a little hard to take that suggestion seriously when the arguments that are being made in this letter and in the public sta
The meeting is coming to order and were going to declare the recess at any time and its called sem annual system on the sup super vision and i recognize myself for three minutes to give an opening statement. As we know the act decreased way beyond the monetary responsibilities. The act is made the fed omnipotent. Through the exercise of the heightened standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh wrote that Central Bank Power is premisable when the scope is limited and the track record strong and the aaccount blt assured. None of that do we observe today where as the feds has taken us and the big banks are now bigger and the small banks are fewer and the Economic Growth lags and theres evidence that the economy is more stable. Two mu fed authorities granted under dod dx frank have been problematic. The see kra si make it impossible to measure the over sight or the integrity of the test findings. As columbia has testifie
10 of wells fargo, that is major money were talking about right there. And the fbi hacking into the iphone of one of the San Bernardino phones without apples help. Its the outcome and is it a bigger black eye for apple or the government . Well have both sides of the debate. Who loses the most in the outcome of this whole situation, apple versus the fbi . The Broader Market is getting a nice boost after janet yellen said caution is warranted. Gold rallying under comments dollar went low are and yields went lower. Financials, which of course would typically benefit, they are under pressure today. The worst performing sector in the s p. Lets get to Steve Liesman with details. Youve got to be asking yourself after this speech by janet yellen has the fed quietly retreated from raising rates, what it dubbed rate normalization, will it ever hike again . From gold to fixed income to stocks, laid out a dovish outlook for rates at this much anticipated speech at the Economic Club in new york and
Lets talk whats happening with stocks because you pointed out the dow heat map and the dow heat map is almost all green. Here are the two biggest point contributors to the rally. Nearly 200 points to the upside today. Take a look at this. Post 6, the nyse, imc, Market Makers for boeing shares. Up about 2 . They are adding 26, 27 points to the overall rally in the dow. Now were going to turn around here and go around to the other side and this is post5 for Citadel Securities where Goldman Sachs trades. Goldman sachs up over 2 as well. Thats adding north of 20 points to the overall dow rally so those two stocks are showing real signs of life, and if you take a look at the Macro Markets overall for the sectors in the s p 500, we do see that financials and industrials, boeing and Goldman Sachs, are among the two best performing sectors so far today. Also, one more thing to watch here. Some of the traders have been talking a lot about oil prices. We can see Oil Prices Moving higher right no
And this is other retail rivals rush to speed up promotions. So will amazon ruin christmas for other retailers and is this the musthave stock. Is it the grinch in the retail sector, tim . Grinch. It defends if you mean putting other guys out of business to their detriment. Some could adopt the model. Cyber monday, whether it is happening sooner or not, will be much better for those names. I think on the consumer apparel side than for the retailers. So to the extent that amazon at this point is trading out of multiple, we havent seen it trade up because they are getting the growth and the investments in logistics have paid off. Yes, i think you need to own this stock. Do you need to buy it today . After this spike, no. And i think a lot of news is prepping for black friday. Black friday, black monday, it started last friday. Eight days of deals. Were in a permanent discounting environment for retailers. Look at a stock like macys. It was trading at 70s, alltime high in july and traded d