The day before climbing back, still the worst for the dow and s p in two weeks lets get to ylan mui in d. C. For a breakdown on the details that moved the market today, hi, ylan reporter hi, melissa the big news in the senate plan was that it delays the Corporate Tax rate cut by one year it wont take effect until 2019. And then it will go down to 20 . The house also passed its version of a tax bill out of committee. There were some significant changes to the way that it addresses the Corporate Tax code as well. The house version of the bill would raise the repatriation rate from 5 and 12 to 7 for noncash assets and 14 for cash assets it also would implement a new lower rate for Small Businesses that have income less than 75,000. On the individual side, there are also some significant differences between the two plans as well. The Senate Version of the tax bill would include seven tax brackets for individuals the top rate would be cut to 38. 5 . The senate bill also totally repeals the
Tenyear yield coming off the 26 level on thursday. We begin the dance to 20k. Will today be the day . Milan introducing a new epipen. The inside scoop on this weeks meeting between donald trump and tech. First up, the dow moving towards 20k. Something weve not done since february and march of this year. Faith rally. A lot of people are just looking at the tripod, looking at tregulation and repatriation and saying, we can can ignore current whatever is the current tempo and, instead, just extrapolate the things to get better next year. Of course, there will come a moment where they better get better or else well say, why did we get so excited . Theres a lot of ripples to the Corporate Tax. Saying, listen, this is not one size fits all. Retail could be hurt by it. Its more complicated. Its been so far. At the same time, i will admit that things are better. Theres a lot of people discovering that. There was some joisting to the Washington Post who finally manages to put on page one that i
It trades for whats behind the big move up. 4 on oil. I said my local gas station owner had the ladder out to change the price of the gasoline. Doesnt take long. Donald trump and Hillary Clinton both have been talking about their economic plans today. Well bring you details and get you the plan from a new candidate, independent Evan Mcmullin will join us live to talk about what he would do to create jobs in this economy. Handle regulations, deal with National Security issues. Well talk the gamut of the policy issues of candidates these days. And what the chances areality this point. Check out shares of vail cent hit hard today on reports that the company is under criminal investigation. Well have the details for you and the potential fallout for this troubled pharma stock. Lets start with the encouraging earnings of the retail industry. Courtney regan has it. Earnings bettering expectations by decent margin with better than expected results on the top line, as well. While comparable sa
Surprising fact. You would think that would be more common. Think about what happened in 1999, the dotcom bubble. I tapped up mostly ill was talk about most to see who has the most volume and what the biggest moves are. It was kind of shocking to see macys with such a huge gain. I been talking about the story all day, that you dont see very for macys. Digit everybody else in the Department Stores is joining in. At macys of 17 , jcp up 9, kohls up 16. Everybody else was up there, including nordstrom, which is about to come out with earnings, including ralph lauren. There are very few losers, not any kind of High Percentage losers. Trend there. Simon property, general growth, well tower, these are down. If stores like macys are going to be closing 100 out of 700, you can expect others to follow suit. Not good for anyone anywhere near a mall. A selloff in the u. S. Government bond market. There is the 30 year yield jumping. We had a 30 year yield auction. That is kind of the story with yi
Public, and we have some blast from the past sounds when he was talking with you, mr. Cramer. Yeah. Futures on the rise, and upbeat data on housing added to the positive sentiment. New Home Construction up 15. 7 in july, a rebound after two straight monthly declines. Building permits up 8. 1 , and meantime, Consumer Prices up only. 1 last month. The nasdaq closed at 14year highs. Yes, sir. I do remember march of 2000 quite well, actually. Yes. It was my birthday of that year that we hit 5,000, whatever it was. Right. Of course not to be seen again, will be a generation, but were getting closer. We are. The makeup then was different because it was cisco powering things higher. People need to remember the companies that cease to exist, and thats totally understandable, a couple billion dollar company, but the reason why things got awry was that the s p was infected with tech, radically overvalued, and at the 2,000, wow, it was bad, but there was a dramatic switch in march meaning the mon