On this black friday, were still here at post nine. Im Carl Quintanilla with melissa lee. Dow up 15 points a holidayshortened session today. Markets are going to close in an hours time and eventually we will get to kelly evans and bill evans for closing bell. All eyes on retailers as it is black friday. We saw strength in macys in particular and some curious weakness in shares of target which have been the real standout laggard, at least in the retail space. A lot going on, whether its retail, black friday or oil, by the way, which got close to 59 earlier and right now 58. 83. Busy week next week packed with powells confirmation, yellen testimony and then that opec meeting and even more reports today about a potential framework between at least russia and opec. Right, and you were mentioning some of the alltime highs in todays session, even though its quiet. The alltime highs are in fact notable. Amazon really being helped, of course, by black fridays strength here. Facebook is also an
An nation defined by its people. And disneys donald if imitation is the sincerest form of flattery, we wonder what the president makes of this . Get in touch with us using the hashtag beyond 0ne hundred days. Hello and welcome im katty kay in new york and Christian Fraser is in london. Donald trump has secured the first big legislative achievement of his presidency. For the First Time Since Ronald Reagan was in Office America has overhauled its wildly complicated tax system. But its a triumph republicans secured without any buy in from democrats and with a plan that polls suggest is historically unpopular. Critics say this bill will increase inequality in america and expand the us debt. Mr trump says it will boost growth and benefit everybody. An historic victory for the American People. It will go through the final passage today in the house. And the congressmen and women and the senate will be coming over the republican senate. Unfortunately, the democrats dont like to see tax cuttin
High he thinks bitcoin is still headed spencer will be here to explain. Later, government intervention, the thing that sparked the blood booth, the kryptonite for crypto sheila bear will be here with a surprising call. Check out the dow, sinking triples digits after yesterdays huge rally the culprit, look no further than the bond market the tenyear yield entering critical area as it crossed above aty key little of 2. 6 founder says 263 is the line in this and where the rise in rates could accelerate quickly and take the market along with it. As we enter closer to the danger zone are the bonds the only thing that could enthis rally. Love that song. We have known each other a long time, 11 years a long time. For me to put the economist hat on, you know i mean its foolish for me even to play the game but i will say i could make an argument rising rates could be good for the market because the economies are growing, global economies are growing. It should be bullish for the equity market.
Midnight. And lawmakers appear to be far from a deal. If an agreement isnt reached and a spending bill isnt passed, the government should shut down. The president today said that is a real possibility. F the country shuts down, which could very we be, the budget should be handled a lot differently than it has been handled over the last long period of time, many years. That kept a lid on stock prices. The Dow Jones Industrial average dropped 97 points to 26,017. The nasdaq was to have two and the s p 500 fell 4. 5. What could happen to the market if a hutdown is not averted . Reporte stocks have been off to the races so far in 2018 but the looming threat of a possible Government Shutdown two throw the rally for a loop. We have already seen the markets losing steam today. Remember, the dow just closed exactly does a shutdown really entail . The government would stop spending it. Messily applies to discretionary d and debt payments would not be affected. Neitr would military spending. The
Look at the green arrows back this morning, even though the government could potentially be shut down. S p futures up by 4. 5. The nasdaq up by 19. Well talk more about that potential Government Shutdown in a bit. Overnight in asia, the nikkei higher. Up 0. 2 . Hang seng up by 0. 4. So was the shanghai in china in europe, at least right now green arrows across the board. Biggest gainer of the major averages is the dax, which is up by almost 0. 9 percent. The tenyear yield hitting 2. 64 yesterday. Thats the highest level since september of 2014. Again, concerns about the Government Shutdown really pushing things well see what happens to the tenyear when and if a budget deal is found. Right now it looks like its setting in at 2. 63 . Some big headlines this morning. Ibm returning to Revenue Growth for the first time in five years. Shares are down. Theres weaker than expected guidance overshadowing that news the company beating on the top and bottom lines but took a charge of 5. 5 billion