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Good Tuesday Morning welcome to squawk alley. Im Carl Quintanilla with jon fortt. Its a mixed fwoog day retail earnings, amazon pharmacy, covid19 restrictions, fed speak. Were going to begin this morning on capitol hill as both Mark Zuckerberg and jack dorsey testify before Senate Judiciary on censorship, suppression, and, of course, the 2020 election our Julia Boorstin is monitoring this and can tell us what happened so far. Julia . Well, carl, senator Lindsey Graham focusing on what he sees as a need to revise section 230, thats the rule that protects social media platforms for legal liability for content. He says facebook and constituenter wetwitt ....
Former friends fallout badly. Steve bannon attacking his former boss. The president saying he lost his job and his money. His mind. Betty another day, another twitter fight, it seems. In the meantime, no fighting along the fed numbers members. We saw the minutes come out. Continueeve they will on this gradual rate increase. Now, the debate is how many times . Several of the members said two, maybe less. Others said at least four. That will be the crux of the debate around the fed in 2018. Yvonne what could be driving that is this continued debate on inflation. There is still uncertainty on why we are seeing not seeing higher inflation. Also, there wasnt a lot of concern about the flattening yield curve. Betty thats right. Here in the equity markets in the u. S. , continuing to rally forward and hitting records, as you can see here with the s p 500. The dow is adding on almost 100 points. Way,asdaq also leading the up almost 1 . The s p 500 navigating above the 2700 point level. Again, ....
We have one guest says the new deal makes him want to vomit. Leaders Mitch Mcconnell and Charles Schumer reach a deal. Addressing ongoing opioid crisis, bottom line a rare event in washington. Was bipartisanship. You dont see that too much these days. You know what . It is going to cost us. It is going to cost us big time. Money we do not have. Adam shapiro live on capitol hill with the very latest. Hey, adam. As you said, you might call this historic you have the bipartisan deal in the senate but as we break this down theyre talking about hundreds of billions of dollars in new spending that raises the cap on not only defense spending, to over600, roughly 50 billion in fiscal 2018 and possibly more in 2019 but also on the domestic side t adds, 100, i think 50 billion over two years to domestic spending. We heard from senator schumer about that it provides money for disaster ....
Hear from anyone, stocks are cheaper. When you see stocks that help with the dow gain 41 points, s p inched up. 07 something is afoot no im not saying things cant go down from here, item saying somethings happening that weve gotten this elevated to begin with what go i mean when i say stocks could be less expensive than they appear today . It has to do with the future of earnings and what were seeing so far this morning Johnson Johnson which has the best balance sheet, report a blistering numbers of pharmaceutical sales of 15 i department that from a Bio Tech Company when you look at Johnson Johnson, this stock sells for just 18 times next years earnings estimates how does that make any sense cole gate much cheaper growth sells only has a fraction, sells for 24 nelson pelts the investor who lost the election is upset ....
A very warm welcome to daybreak europe, our flagship morning show from london. Im anna edwards, in london. 6 00 in london. Manus is not sitting next to me this morning. He is over in paris where it is 7 00. Good morning. He is on the ground. General motors is said to be poised to announce the sale of its vauxhall unit today. Lets start with the timing. Why now . Just thethink its final stomach churning moment. How much loss can you actually tolerate, anna . That is whats going to be on mary barrowss mind. Its almost like a bad relationship, a mistress that keeps demanding more, to the tune of 20 billion of losses since 1990. They have done everything. They have pulled chevrolet off the european market, a highly saturated market. They tried to pull the record in 2009 at the height of the crisis. Theyve tried, on a few occasions, to structurally change, but this is a brand that has not made money for them. They have not got it right in europe so they are doing the final aboutface. Anna t ....