To go through. Jackie deangelis on the floor of the new york stock exchange. Chad pergram has plenty of news on capitol hill well get to. First Hillary Vaughn live at white house. Hillary . Reporter connell, treasury secretary Steve Mnuchin says he wants to put cash in peoples hands, as part of a economic stimulus package tied to the coronavirus crisis. Meeting with senators on capitol hill asking for 200 billion for these Cash Payments would be a check or direct deposit, saying he wants to get cash into peoples hands in two weeks. I asked secretary mnuchin if theyre looking boosting the Restaurant Industry in addition to airlines as part of an Economic Relief package. Mnuchin says they will be rolling out special program that helps small and midsized businesses restaurants an franchisees will be a part of that. This is not like a normal economic situation. Government has requested that parts of this economy shut down and the president is determined, you can think of this as, Business
In front of congress. This is the second day today, today was the senate, yesterday was the house, and the fed chairman says theres always a chance at recession, and guess what . The fed isnt taking negative Interest Rates off the table. She likes that tool. Take a listen. Are you considering negative rates . I know you had that question yesterday. Yes or no . I wouldnt take those off the table, but we would have work to do to judge whether they would be workable here. Beyond the spreadsheets you have to ask yourself does the fed understand the true economy for the average person out there. Peter morici and jon hilsenrath. Lot of frustration on wall street with janet yellen. We didnt know there is double speak, shes a highwire act. What do you make of her testimony yesterday and today . Well, you know, shes in a tough spot because the markets are pushing back on the feds view that the economy is getting stronger and that theyre in a position to raise Interest Rates more and you know, s
Not do what the ecb wanted it to do was one of the comments i saw yesterday. The old the other question was about Mario Draghis comment that this would be the last Interest Rate cut but skepticism about that. Is it all that the ecb will do . It looks like there is a more bullish read that is happen in the u. S. And in europe. The rally to date means that for the year to date, major averages have trimmed their losses considerably, particularly the s p and the dow, now let now doubtless than 2 on the year. Of forss than 2 the year. Signs ise positive counterintuitively been the losses in the highyield. , this looks at the s p 500 total return index in blue. The bank of americahighyield index and he is pointing out that of the last four times we saw high yields fall on an annual basis, stocks then rallied the following year. This looks back at the prior instances when this happened and and stocks rallied. That is one of the reasons he is looking forward to be bullish. We will see if the r
Increase buybacks in the new year. That and more tonight on nightly Business Report for this friday, november 22nd. Good evening everybody and welcome. Investors poured more money into stocks driving the dow and s p 500 to new alltime closing highs. For the s p 500 it was a milestone day and settled above 1800 for the first time ever. It is now up seven weeks in a row and now stands 27 , the s p above where it started the year and if the index stays at that level through year end, the annual gain will be the greatest in 15 years. The favorable reading on midwest manufacturing helped stocks today, so did a report on job openings. Here is how the market closed out. The dow up 54 points, good for the 41s record close of the year and the nasdaq added 22 points and less than nine points away from the 4,000 milestone and the s p was up nearly nine to close at 1804. One dow component didnt benefit, were talking about intel. Shares tumbled more than 5 , now just yesterday intel was the best pe
Increase buybacks in the new year. That and more tonight on nightly Business Report for this friday, november 22nd. Good evening everybody and welcome. Investors poured more money into stocks driving the dow and s p 500 to new alltime closing highs. For the s p 500 it was a milestone day and settled above 1800 for the first time ever. It is now up seven weeks in a row and now stands 27 , the s p above where it started the year and if the index stays at that level through year end, the annual gain will be the greatest in 15 years. The favorable reading on midwest manufacturing helped stocks today, so did a report on job openings. Here is how the market closed out. The dow up 54 points, good for the 41s record close of the year and the nasdaq added 22 points and less than nine points away from the 4,000 milestone and the s p was up nearly nine to close at 1804. One dow component didnt benefit, were talking about intel. Shares tumbled more than 5 , now just yesterday intel was the best pe