Call me or tweet me jim cramer, the battle between truth and fiction plays out every da i in this market, and sadly, fiction usually wins that includes days like today where the dow shed 181 points, s p declined. 76 , nasdaq lost 1. 15 . Last fall, things have turned nasty, havent they . Im starting to see the same old negative on wheat creep back in the market, plagued by imaginary scenarios, we convince ourselves represent reality, and make us say, who needs this nonsense lets just go sell everything and buy some bonds house of pleasure. The first absurdity, the first fantasy, that somehow theres a correlation between the newly weak bank stocks and reality, because these Bank Failures last spring have left a nasty taste in our mouths. The vast majority are doing well in this country. Guess, what they werent doing it anyway. Almost every class of loans is doing great, credit cards, home equity, Small Business loans, even the dreaded Office Building loans are looking good, which are a
Question. How should one thing about the slower normalization being allocated among three factors . Is the fed more worried about the outlook than the scenario i just described . Is the fed modifying its reaction function, or did Market Participants really understand the way the fed started normalization . Okay. Thats a great question. Let me try to address it. So, you started by pointing out that essentially the u. S. Economy is doing well. We are close to our maximum employment goal with a 4. 9 Unemployment Rate and the median estimates among participants of a longer run normal rate is about 8. 4 . Were close although as ive often pointed out and still continue to personally believe i think theres a little more slack in the labor market than one would surmise by looking at the Unemployment Rate alone, and here im particularly thinking about abnormally high levels of involuntary parttime employment and perhaps we have seen some decline in what i call the cyclical component of labor fo
Rules of our party. Reporter the Republican National committee will meet next week in florida. Several members say they dont want to consider any changes to the rule making process before the july convention to avoid it looking like the rnc is trying to sway the process. Jeff, latest cbs news battleground poll shows the that more than half of Republican Voters in new york say their partys nominating process is unfair. Juliana, thank you. Well bring in cbs news election director, anthony for republican tuesday in new york whats the key . Well the poll find new yorkers see donald trump as authentic and as electable in november. The biggest key is whether or not he can get over 50 . The size of win matters here. If he gets the bulk of the delegates in new york it would put him back on path to eventually get the nomination. That path leads out to california. Yes, where he is up in our current polls. But california will probably be decisive. Even with a win in new york and win in subsequent
Deployed in boston to make sure tomorrows marathon security is stronger than ever. There really is an advantage to having this eye in the sky over the marathon route. A crackdown begins on dangerous street racing in southern california. Welcome to the overnight news, im jeff glor. The toll is rising after an devastating earthquake on the coast of ecuador. The president of ecuador says 246 are dead, more than 2500 are injured. Hundreds of buildings destroyed. Crews are searching for survivors. It hit saturday night, magnitude 7. 8. Strongest to jolt ecuador since 1979. More than 135 aftershocks followed. We begin with manuel bojorquez. Reporter with the day light residents saw for the first time the full extent of the damage. Pacific town rescuers dug through crumbled concrete to find lifeless bodies. The quake also claimed lives about 85 miles south in the coastal city of manta where today, shaken residents surveyed the widespread damage. This desperate worker tried dig digging with hi
Allow anyone to rewrite the rules of our party. Reporter the Republican National committee will meet next week in florida. Several members say they dont want to consider any changes to the rule making process before the july convention to avoid it looking like the rnc is trying to sway the process. Jeff, latest cbs news battleground poll shows the that more than half of Republican Voters in new york say their partys nominating process is unfair. Juliana, thank you. Well bring in cbs news election director, anthony for republican tuesday in new york whats the key . Well the poll find new yorkers see donald trump as authentic and as electable in november. The biggest key is whether or not he can get over 50 . The size of win matters here. If he gets the bulk of the delegates in new york it would put him back on path to eventually get the nomination. That path leads out to california. Yes, where he is up in our current polls. But california will probably be decisive. Even with a win in ne