It is fascinating. Berkshire hathaway has 116 billion in cash. Hes not sure what to do with it. He wants to make deals but everything is too expensive. Buffet also made 29 billion well, the company did with the tax cuts. Whats he going to do with that . Give it to shareholders . Dont know. Warren is not a big fan of tax cuts. And we expect to hear a little bit later. The Florida Shooting will be discussed arming trained teachers, limiting gun purchases to people 21 or older, and the apparent break down of Law Enforcement during the shooting rampage itself. All to be discussed. This is Varney Company monday, february the 26th, and we are about to begin. Stuart its wonderful to be back, you know . Liz welcome back. We missed you. Stuart i look well . Ashley rested. Liz yeah, you look good. Stuart what do you want . Ten bucks or 20 . Liz and charles, if youre watching, thank you very much indeed for picking up. Liz sure. Stuart during my week of absence. It will not be repeated. This is m
Well, after the 24th record high of the year, the Dow Jones Industrial average will open a little higher as of this morning. Up about 10, maybe 15 points, about 28 minutes from now. Now, a couple of big banks have reported their profits this morning, citi, j. P. Morgan, wells fargo. First of all, lets go to the Bank Earnings, bearing in mind that the bank analyst, dick bove on the program said that Bank Earnings will be bad and the end of the trump rally. Liz dick bove is really, really smart, impressive. Long growth came in pretty strong for the banks. Certainly, wells fargo, seeing decent profit numbers coming in and citigroup, j. P. Morgan as well. Now, the trading desk has been a problem for the banks because theres low volatility. When theres low volatility. Cant make money off the trades, but the numbers are coming in strong for the free ban three trades. That means were not going to see the end of the trump rally bearing in mind the Bank Earnings reports from last hour. Liz that
And jubilant democrats celebrate their win, senators warren and schumer do a gleeful selfie. Thats the political state of play. Not good for the gop or the trump presidency. Another news development. The economy is expanding very nicely. Between april and june, we expanded at an annual rate of 2. 6 , way better than the 1. 3 gain in the first three months of the year. The obvious questions, how to react to the political mess, the economys improving performance and perhaps most importantly, amazons profit decline. Stay right there, please. All will be revealed. Varney companys about to begin. Stuart all right. Friday morning, in 29 minutes we open this market, and im going to start with the news on the economy again. Gdp growth, 3. 6 2. 6 percent annualized in the second parter of this year. Quarter of this year. What kind of growth rate would we get if the republicans got out of their own way . 4 . It is encouraging that were growing a little bit better than europe or crab grass right
Questions and the media fawned all over him. President trump is rapid fire, yes, he exaggerates and is entertaining, all of that is very different. The live action presidency continues. Hes off to see boeing, and maralago and tomorrow, he addresses a big rally in orla thats politics. What about money . A pause in the trump rally. There will be a modest pullback at the opening bell this morning. Oh, but please, look at this. The stock market has added 2. 7 trillion dollars to the nations wealth just since the election. That is the trump rally. Youve never seen anything like this before. And, Varney Company is about to begin. Many of our nations reporters and folks will not tell you the truth. The president has become so dishonest, the press honestly, is out of control. The level of dishonesty is out of control. The hatred and venom coming from his mouth, the hatred coming from other people on your network. Look, when i go to rallies, they turn around and scream at cnn. Want to throw pla
Near the cambodian capital. On the top of the world. Cbs news remembers lempdgendary reporter bob simon. During the beginning of the first gulf war bob and his cbs crew were captured for 40 days in iraqi prisons. I thank god that the four of us are alive. Reporter republicans and democrats are not seeing eye to eye as the u. S. Appears headed towards stepped up action against isis. Isil is going to lose. A ceasefire deal reached according to president putin to put an end to the fighting in eastern ukraine. Three Winning Tickets in powerball sold in North Carolina, portuerto rico and texas. The lucky winners split 564 million. And a chase in dallas. That ended when the drive irplowed into two vehicles. People dragged the suspect out of the car. My mom taking down a highspeed chase guy. The fbi joining in the investigation into the Fatal Shooting of three muslim sunts students in chapel him, North Carolina. A potential blizzard. Places absolutely buried could see more than a foot of snow