Good afternoon. We have the best reporters in the business tackling this massive news day for you. Bob pisani is live at the new york stock exchange. Eamon javers is standing by on capitol hill. Lets start with john harwood live outside of trump tower. John . The president elect, donald trump, had his first News Conference in months since july, actually. And he addressed a wide range of controversies that have been dogging him over the last several weeks. Lets start with a bit of policy news. You heard about the or you eluded to the farmna npharma ne. On obamacare, he wants a virtually simultaneous replace and repeal process, so that within even the same hour or the same day or couple of days that they would offer an obamacare replacement plan to a company, the repeal process. He said he would announce a new Supreme Court justice, his choice for that position within two weeks of his inauguration. So, that is something to watch. The most interesting things he discussed were, first of al
We begin with President Trump and your money. Americas new president wants to put policies in place that will have a major impact on taxes, regulation and trade for every american. Now, some proposals may sound abstract, but they could greatly affect what you buy, how much you pay, and your retirement. The trump economy is cover story. Under our plan, the economy will average 3. 5 growth. President trump will reduce the current seven tax brackets to three. On the business side he wants to cut the Corporate Tax rate from 35 to 15 . A Trump Administration will change our failed trade policies, and i mean quickly. Trump also believes current trade deals are hurting american workers. Ettes out of the Trance Pacific Partnership or tpp, a planned trade deal with asia. And he wants to renegotiate the north American Free trade agreement or nafta. Thats a trade agreement that was enacted 24 years ago with canada and mexico. Trump has proposed a moratorium on new regulations and plans to roll ba
It may be a small street but Billionaires Row. Where is it . You have to stick around to find out as power lunch starts right now. Welcome to power lunch. Im tyler mathisen. As brian said another big rally on wall street, the nasdaq topping 6,000 as you see right there. The first time in his are try. What got it there. Well give you the 13 names in the nasdaq hitting new record highs facebook, alphabet, microsoft among them. And another triple digit rally for the dow. If it holds this would be the first backtoback 200point day, days, i should say, gains for the dow since the election. Another notable stat the were only two days into this week but the current weekly gains for the dow and the s p 500 are the best to make them the best of 2017 if they hold. Almost 17 names hitting new 52week highs, best buy, expedia, lowes, home depot. Were all over this big bull run. And Bertha Coombs at the nasdaq. First, though, to bob pisani on the nyse floor. Reporter this is unusual trading, tyler,
Week of losses, sell everything. Im out of there, baby. Much more on microsoft and great interview with former microsoft ceo steve balmer in just a bit. A propitious day for that. To the developing story, surrounding at t and time warner. It seems bigger is better once again. At t down a little bit, by about a dollar. Time warner moving up by 9 at 9076. David faber working the phones and is here with the latest. What are you hearing, david . Developing is the right word and things are developing very quickly. In fact, so quickly that you could see a deal announced as soon as, lets call it shortly. Will it be as soon as monday . Hard to say at this point. But the point is that after what appears to have been actually months of some conversations and certainly work on the part of some advisers, these two companies are close to inking a potential deal that would actually meantime warner would be owned by at t, a dramatic move for at t as it builds on what already was a large deal when it
Take a look at the splash, there is positioning that is starting to take place in anticipation of what could be, maybe a fed Interest Rate increase. Hedging their bets tachlt a look at this one. The two year note yield for u. S. Treasuries, already over the korts of the past week, moving higher. It was near 80 basis points about a week ago. Now its up towards 90. Again, look in the grand scheme of the year to date period, eliminatively on a low basis here. One place where that battle, that hedging is starting to take place. That positioning. Also look at this. The dollar a big part of that story as well. Gold also playing into that. Again, 1275 a week ago her ounce. Now were around 1250. A 2 loss over the course of the past year. Gold has been a hot trade. Its still up. Up marketedly. So but some of the bets being paired back in anticipation of what could be a fed Interest Rate increase. Then one more place well look, one manufacture places well look, again, regional banks. Weve seen t