And welcome to power lunch. Stocks are cutting their earlier losses the dow was down triple digits, but the s p 500 having its worst day since may 17th tech, materials are leading the declines as you see by nearly three quart oers after percent me slay . Here is what else is happening at this hour Steve Scalise undergoing his third surgery after being shot yesterday. He remains in critical condition. The senate stepping up sanctions against iran and russia. The house needs to vote on it. More and more ceos speaking out, urging President Trump not to reverse u. S. Policy on cuba. The president is set to speak about it tomorrow. More on that story straight ahead. All right, thank you very much, melissa. Lets kick it off with your stock story of the day and that is the all mighty Amazon Company in the headlines again as a report surfaces that amazon might be willing to pay up to 9 billion bucks for the messaging app slack. Now along with much of tech lately, amazon is down today off about
Reverend reynolds from baltimore, maryland. Let us bow our heads in humble adoration unto the landlord. Our lord of ancient past, shelters from our storms. We are grateful as we gather together here today under the sovereignty of your grace. Your masterful handiwork has caused us to witness your splendor and magnificent glory once again. We come before you to welcome you to this place, we give you the respect and knowledge you as our creator and provider it is you who are omnipresent everywhere oh, lord. It is you who are open flip tent or powerful oh, lord. You are all knowing lord. As we begin this luncheon, we ask that you would guide our thoughts and our actions so that we may have a successful meeting. Help us to accomplish our goals and aspirations today. While we display your character, because it is you who has made us and not we ourselves, we are the sheep of your pasture. Oh, landlord, we pray that you grant us your divine wisdom as we move forward in a steadfast hope with fa
Right now. Good morning. Very warm welcome to Worldwide Exchange on cnbc. Im wilfred frost along with Courtney Reagan in for sara today. Good morning. Very good morning. Its throwback thursday, with courtney here were throwing it back to country hits. Youll have to educate me as we go through. Who is this . This is lady a. , right . Lady antebellum. I guess well have some garth at some point . The only name i know. I hope so. Throwback thursday, and another record high for the markets. Yesterday all three four including the russell 2000 yet again hit record alltime highs. Led once again by the financials. Albeit a slightly broader rally yesterday than the prior day. Renewed hopes of a trump tax plan, strong data which drove up yields, which drove up financials, as i already mentioned, some earnings, the likes of pepsi, Procter Gamble leading the Consumer Sectors higher. The bond proxies like utilities were underperformers. We are called fractionally higher today. Thats a better picture
There was more reason to potentially raise rates a little bit more quickly. My own forecasts with four increases still has us at a 2 inflation rate and a full employment at the end of the year. Actually a little bit below. My forecast of the 4. 5 for on employment. Sep,is consistent with the below my estimate in the long run which is 4. 7 . Kathleen commercial real estate, is that one of the reasons you are pushing for the rate hike . Eric its one of the reasons i consider it. Kathleen is their support . Dots, and thene four with eric rosengren. You think there is a tilt . S a semester. Asymmetrical. Eric i can only speak for myself. My own view is that the economy is at the point where four can easily be justified. If it were to weaken, i would know what to do four. If the economy were to grow much more quickly and cause the Unemployment Rate to go down much more than on that im expecting, i want to do more than four. It is data dependent. If we had a Strong Enough economy, im not exp
There was more reason to potentially raise rates a little bit more quickly. My own forecasts with four increases still has us at a 2 inflation rate and a full employment at the end of the year. Actually a little bit below. My forecast of the 4. 5 for on employment. Sep,is consistent with the below my estimate in the long run which is 4. 7 . Kathleen commercial real estate, is that one of the reasons you are pushing for the rate hike . Eric its one of the reasons i consider it. Kathleen is their support . Dots, and thene four with eric rosengren. You think there is a tilt . S a semester. Asymmetrical. Eric i can only speak for myself. My own view is that the economy is at the point where four can easily be justified. If it were to weaken, i would know what to do four. If the economy were to grow much more quickly and cause the Unemployment Rate to go down much more than on that im expecting, i want to do more than four. It is data dependent. If we had a Strong Enough economy, im not exp