And a large part of that has been driven by growth in the manufacturing and the construction space. Some of the numbers do offer a lot of question marks because if you look at agriculture, if you look at industries, you know, our core sector data is from steel, cement, all of them have actually shrunk. Consumption, in fact, has also been weak too, almost for the nine months it grew by only 5 . And thats why there was there has been a lot of question mark, but a large bit of this has been pushed by the Government Spending in the construction space. You know, Building Infrastructure around the country and some bit of private capital and private investments also seem to be flowing in to the economy right now. And that has pushed the growth to this level right before the national elections, where Prime Minister Narendra Modi is seeking a third term in power. Narendra modi. And this is the premise, the high growth rate where india has become somewhere an alternative to china for most compan
Check things out today because we have now seen already 69 record closes for the dow this year if there is another record close today, as you would indicate if you see these gains again, this would be the most record closes weve ever seen in any year for the dow. Last record watts set in 1995 and that was a record of 69. The s p is already in record territory. Weve seen 61 record closes for the s p and thats compared to 18. The dow indicates almost 24,800. You see what im looking for. I cant see your screen. Its a map of south america because the train the sorkin train was oh. No, no. You said san paulo. I was down in san paulo where am i now youre down across from the falklands. The train is. Youre still here youre here i missed the train, as you know youre still in jersey, i think, camden or something not even. I havent left the island of manhattan. Seriously. Im stig thinking im like just hanging outside of penn station. The sad thing is, i had to look to figure out which one i knew
There we are back to it. Technical difficulties. The dow is there but the other averages are not quite there. It is peak day. We have some were coming after the close of trading. The s p dream is earnings season about 0. 4 . The transportation average is up about 0. 9 . Outperforming what we are seeing from the major averages due in part to earnings. Increasesand price coupling to help Union Pacific make up for revenue that was lost in storm disruptions and also auto and carloads drop in those. Fell. They climbed in the third quarter, which was more than double an increase for a year earlier. Hey had a bigger gain actually, we will have to toss it back to you, abigail. Abigail thank you. Good stuff. President trump is due to deliver remarks were the Opioid Crisis shortly. Another pressing issue is in focus today, tax reform. House republicans adopted a resolution to cut taxes by the end of the year. This budget we passed in the house today brings us one step closer to historic tax refo
U uncertainty of a number of saudi princes and ministers were arrested over the weekend on corruption charges and of course as you probably have heard by now, that includes prince al waleed bin talal well look at what this means for u. S. Companies looking to do business in saudi arabia we havent even gotten to the Qualcomm Broadcom story but theres other things to get to now. We have the breaking news now that disney has held talks to buy most of 21st century fox. David faber back again anything new on this is. We can advance the story a little bit and refresh it for people, guys 21st century fox, as bill just said, has been holding talks to sell most of the company to walt disney leaving behind a Media Company that would be tightly focused on news and sports according to people familiar with the situation these talks have taken place over the last few weeks and given their complexity, it continues to be seen as a tough deal to get done by those whove been working on it the two sides
Maybe not. Well see if that is on target. And cbs and walgreens very nervous. Amazon may be planning to break into the pharmacy business. All that and more as power lunch begins right now. And welcome to power lunch. Im melissa lee. Stocks having their worst day in two months. Stocks losing gains. It is the dows biggest oneday drop since september. Apple, goldman accounting for about 100 points in the dows drop today. Financials leading these declines this hour, charles schwab, the biggest losers. Wall streets peer index the vix soaring to its highest level since april 21st. Welcome, everybody, to power lunch. Im tyler mathisen. We begin this hour as we have many days recently with drama in d. C. And today it is driving the market down. A memo by the fired fbi director james comey claiming the president urged him to drop the investigation into former National Security adviser, Michael Flynn. Lets go to eamon javers for the latest. Reporter we are told a closed door session but publicly