Government bond is attractive compared to risk in stocks right now. 283 on the tenure. Three, another problem is the internal workings of the market exotic product, robot trading up a pushing stocks to rapgd sell ising . As of now the dow is down 6. 5 so poor this week. With will open higher. Do not know how we will close or where well close. But back drop this morning is another chaotic night in congress. But we now do have a budget for the next two years. Thats not necessarily great news for investors. But bottom line on this republican budget Government Spending goes way up and so does the deficit. Again, were hearing the words, debt bomb. Varney company is about to begin. It changes so rapgdly that were going to show you futures all over again. All right we were up 100 now were up 60 youve got to watch this. Literally moment to moment. Wall street is on course for its worst week in six years. It has been a really qield ride for stocks just this week. These are the swings in the dow
Lower because inflation Interest Rates are heading higher, there is a surprise in the numbers today. Retail sales actually fell in january no explanation, but a surprise. So this is where we stand after three days of gains, stocks down this wednesday morning. Throughout the show we will ask now what . We also have good news, more good news from olympics american team, the old half pipe star has returned, Varney Company about to the guys been around a long time. The latest medal count, germany has the most gold so far. The netherlands leads overall. The u. S. Is days. On a personal note, this medals count for countries. I prefer to celebrate extraordinary individual performance. Everyone should win one. Youre putting the metal cow. Stuart i admire your attempt at humor here. Ashley its about winners. Im for america winning the most gold. Believe me. Future is down because inflation is that. Down 200 though. Catastrophic for the dow. Lees peek columnist and creature router to the hail. A
Benchmark yield at 2. 34. The treasurys warning for washington and wall street pass tax reform or markets will fall. Ibm shares on the move after better than expected earnings despite 22 quarters of declining revenue. Big blue up 6 in the premarket. Dorsey vowing to make a more aggressive stance to crack down on hate speech and Sexual Harassment not only has the dow surpassed 23 k but up 25 since the prds was elected. On a political podcast the treasury secretary did warn failure to pass tax we form could derail the rally. Theres no question that the rally in the stock market has based into it reasonably High Expectations of us getting tax cuts and tax reform done it also has based into it optimism on regulatory relief, which theyve begun to see and theres expectations so i think to the extent we get the tax deal done, the stock market will go up higher but theres no question in my mind if we dont get it done, youre going to see a reversal to the significant amount of these gains. Weve
Trump about how we could end up in a major, major conflict in his words. Did put some pressure, if you see the nikkei, down about 0. 3 . Same with the hang seng. In europe this morning n some early tlading, things are mixed. The ftse is down by 0. 25 . The cac is up by that much. The dax is up by 0. 10 . With crude oil prices this morning, looks like wti is still below 50. Up 27 cents. Tech stocks on the move this morning. After quarterly reports late yesterday. Lets give around up of whats going on. Amazon eps tops estimates by 36 cents. Saying revenue from the Cloud Business, advertising and Subscription Services helping to drive those results. Alphabet beating the street on both the top and bottom line. Strong ad sales sending profits up 29 , despite some advertisers boycotting youtube. And microsofts ref knew ju revenue just missed consensus. Sales of the Cloud Services platform jumped 93 in the quarter. Last but not least, look at intel. Reporting lower than expected quarterly rev
Yields, and the dollar. Volatility spiked. For weeks wall street mostly sharehold shrugged off any d. C. Drama. Today, the shrugging stopped. It came amid President Trump asked james comey to back off of his investigation of National Security adviser michael flynn. The allegations in an asyet unseen comey memo may mean nothing for the economy, not now and maybe not ever. But the trump gop agenda of tax cuts, deregulation and Infrastructure Spending could founder or fail amid a hail storm of investigations. The Dow Jones Industrial average dropped 372 points to 20,606. Nasdaq off 158. The s p 500 fell 43. Although it was the worst day of the year for the indexes, we should point out that remain near record levels. What was the response in washington that the markets were so focused on . Eamon javers joins us. What was the response from capitol hill and especially republican lawmakers . Reporter for the most part, republicans held firm today in support of the president. Speaker of the ho