After jay powell made down beat comments about the economy just as coronavirus cases were spiking in the south and the west today the fed chief once again made it clear that the economy remains weak and were seeing more gigantic coronavirus spikes in the south and west this time the dow surged 527 points as it jumped 1. 90 , nasdaq pole vaulted 1. 57 . How is this possible how is it possible goes down gigantically, same thing, next time goes up two key differences. First the fed is planning to buy individual Corporate Bonds to ensure Companies Stay afloat if we had survival of the f fittest, powell is doing everything to limit carnage, survival of everybody. Second, we had the biggest sales gain in history up 17 in may. That sounds very vish we have a super accommodating fed at the same time were Getting Better data which means the recovery has staying power and almost broke oil company or restaurant chain wants to issue bonds, the fed would probably buy them i know there are a lot of
On sale. It says 62 of buyers purchased the less expensive sport model which started 349. Weve been talking to analysts in the last half hour about all of this. We may get numbers from apple themselves. In global news, chinas exports charge dropping a larger than expected last month. Stocks in china rallied today as the weak data added to expectations that the government will unveil more stimulus moves and speaking of china the world bank is trimming its growth forecast for the developing east asia citing a continued chinese slowdown. Activist Investor Jana Partners is urging qualcom to consider a break up. Jana wants the company to look at spinning off its chip unit from its patent licensing business. Jana is one of qualcoms largest shareholders. And symantec has been looking for buyers for its Storage Software business. Reuters says an interest from an potential enquirer has been limited because of a tax burden associated with splitting company. U. P. S. Plans to invest more than a b
Coming up tomorrow on starting point, banana joe, the best show at westminster. Ive been bashing this dog and now hell be on set with us. Hes going to be joining us and then well tell you a wonderful valentines day tale, a couple married 82 years. Get the secret of their success. Good for them. Meanwhile cnn newsroom with Carol Costello begins right now. Happening now, in the newsroom. Hey you come here [ gunfire ]. Breaking overnight a new twist in the manhunt for Christopher Dorner. The reports earlier that a body was found inside were unconfirmed. Reporter the accused cop killer burying himself in this cabin set ablaze. This morning, charred remains of a body have been found inside. From the shootout inleka ic california to the state of our union. Gabby give fords deserves a vote, the families of newtown deserve a vote, the families of aurora deserve a vote. The plead from the president for congress to vote on tougher gun laws. Watergate, marco rubio and the bottle. Did that really
Captioning sponso the miner is grappling with lower iron ore prices and rising costs. Todays drop drove the stock down to a twomonth low. Then after the bell, we also got earnings news from zillow. The real estate website posted a 73 jump in quarterly revenue as it added more subscribers. The shares gained 8 in the regular session, and tacked on another 10 afterhours. This follows strong Fourth Quarter results yesterday from rival trulia. Today, its stock jumped more than 20 . And finally, four of the five most active Exchange Traded products rose in todays trading. And thats tonights market focus. Susie gold ended todays susie gold ended todays session at 1,640 an ounce, it hasnt been that low since august. The move south, comes ahead of this weekends g20 meeting in moscow. Investors are watching for hints at currency policy, which could be a clue to whether they should be buying or selling gold. But as Ruben Ramirez reports no matter what comes out of this weekends meetings, it looks
Captioning sponsored by wpbt this is n. B. R. Susie good evening, everyone. Im susie gharib. Toms off tonight. Americans are waiting to hear from president obama as he gives his state of the union speech. We look at his jobs plan and what wall street wants to hear from the president. And currency wars g7 countries say theyre looking to boost their local economies, but critics say theyre aiming to get ahead by weakening their currencies. That and more tonight on n. B. R. Were hours away from president obamas state of the Union Address. Americans arent just listening for what he says but how he says it. Will he strike a hopeful or optimistic tone, and will he offer a concrete plan to create jobs and grow the economy . Washington bureau chief darren gersh reports. Reporter with more than half of americans thinking the economy is still in recession, it makes sense that the president is focused on a jobs agenda in his speech tonight. But while his plan may be new, the challenge is not. The