Capital hill testimony from fed chair Jerome Powell where hi alled a potential cut in Interest Rates later this month. Health care stocks also contributed to the rise. We willhy explainn a moment, but first the closing numbers for this thursday with the ge Industrial Ave gaining 227 points to 27,088. The nasdaq was down six, the s p addedix bob pisani has more on the recordsetting day. Reporter another day,ot r market milestone. Investors cheered comments from the Federal Reserve signaling that a rate cut is likely just ound the corner. The dow crossed about 27,000 for the first time today and the s p 500 movedust to the edge of 3,000,nt fraction of a poi below it. Close enough. What a difference five yearss. Ma the s p has moved 50 in less than five years from 2000 in august of 2014 to 3,000 essentially this week. The market today is different than it was in 2014. Investors have played favorites in a very big way, big tech and faang names dominate among the winns. Amazon and netflix u
Welcome to you you and i were chatting about the new space spot that were going to talk about. How is that indicative to risk in this market. You have a spak, which people doing it as long as i have they know the history but its essentially a blank check to merge with a company thats going to take people to space. What does that have to do with the fed it has to do with the risk mentality of people out there. If the fed is going to drive rates down to the negative, people are going to go out and try to find Investment Opportunities and i think this is the perfect metaphor what we saw in the markets the facts were talking about stocks like chewy shows the mentality here of how people are thinking. Lots to discuss over the next hour welcome back. Great to be back. Wouldnt miss a pepsi earning day. Mike doesnt hear its an important company. The word he used is improper hp his words not mine Morgan Brennan has galactics plan to go public. Susan has details on a trade rift between President
And ill be on the ballot. The City Attorneys Office is investigating louis following articles written by journalist joe, with Mission Local questioning why she voted in a district other than the one she was registered in and whether her primary residences in the district she is running to represent writing lies about me. There have truth and i felt that if he was truly a journalist, then he would give me a chance. To tell him my side and also provide evidence tells me out of anger and frustration, she wrote a post on social media capitalizing the last four letters of joe s. Ganassis last name spelling unfortunate now that part of our political culture is that rather than responding to the allegations. The impulses to attack journalists is wildly problematic. Political science professor corey cooks us now it will be up to the City Attorneys Office to determine if the allegations are true. Are you legally eligible to be account in your district . And thats an empirical question that can
Formality. What they will be deciding. Is whether to ban the sale of new gas powered cars starting in 2035. But we will start seeing some of the changes on our roads and highways even earlier than that. By the year 2035. You wont be able to buy any new gas powered cars in california. The California Air Resources Board is expected to approve new rules to faze us into an all electric future. Not only will new gas powered car sales be banned in 13 years by the year 2026. Just four years from now, 35 of all new car sales in california will have to be electric. Were not ending gas and diesel vehicles in california anytime soon. Thats really not what this regulation is trying to do is just trying to bring the proportion down fast. Once tina gray wall is a researcher with the Mineta Transportation Institute and a professor of urban planning at san Jose State University, she says, people will still be able to drive and even by used gas powered cars in 2035 beyond. But because california is suc
Hello. We begin in the us, where former president barack obama has described the current governments handling of the coronavirus pandemic as an absolute, chaotic disaster. Mr obama was speaking on a Conference Call to rally supporters behind joe bidens run for president. In a leaked recording he says he then adds and north america corresponded peter bowes told me why mr obamas comments are significant. We havent heard words like this, as strong as this from former president obama really since before President Trump became president. He has pretty much stayed on the sidelines during the past three years of mr trump being in the white house. But we are a different time now and of course were just six months away from the next president ial election and barack obama has endorsed his former deputy, joe biden, for the democrats as their candidate. I think this signals that president obama will not be quiet over the next six months. In fact, he is saying that he is going to do as much as he