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Lets get straight to steve liesman. Jay powell testimony before the House Services committee will note improvement in the economy saying Household Spending has recovered three quarters of the decline and say this is in part response to federal spending and higher Unemployment Benefits which is running down he said housing has rebounded and Business Investment showing signs of improvement but overall employment and Business Activity with well below the prepandemic levels an the out light is uncertain. He makes special mention of the feds main Street Lending program, a 600 billion program with a backstop from the troo z treasury hell be sp ....
The stock down 20 after withdrawing Sales Guidance and sales in the quarter tank. The sales down now fast and flawed and a big job for the new ceo. All of that and more ahead lets begin with this kind of like bed bath and beyond its been a wild 24 hours for your money moments after getting of on the air the news hit that iran launched missile strikes on two ira Iraqi Military bases housing american troops. Sending s p futures plunging then iran calmed down a bit saying it would stop if the United States didnt launch new attacks. Futures rebounded making up nearly all of the losses the market is open and theyre pretty much flat until shortly after 11 00 a. M. Eastern time that was when President Trump addressed the nation saying iran, quote, appears to be standing do ....
When the jct, the joint committee on taxation, released a dynamic estimate of how much growth they expect this tax plan to generate. And its a lot less than republicans were hoping for. The jct estimating the tax plan would generate 407 billion in additional revenue over the next decade and that is not enough to cover the 1. 4 trillion cost of this tax plan. The Senate Finance committee putting out a statement saying that this analysis is curious and deserves further scrutiny and they emphasized that the final version of the tax bill is not yet complete it is still being hammered out on the senate floor. Another important thing to note is that the jct assumed a very aggressive response by the Federal Reserve to a strengthening economy. That is also very different from what we have been hearing from jay powell and janet yellen over the next few days. So even if you discount t ....
Awaiting the sentencing of f fof fof former theranos founder Elizabeth Holmes first to the markets, we start off with crude oil prices getting crushed wti falling blow the 80 mark for the First Time Since late september. The commodity putting in its worst week since april taking oil stocks with it. All down more than 5 this week. And it wasnt just energy. King copper dropping 7 . Is this a sign that theres even more pain to come for the economy . Or just a trade that lost some momentum karen, what do you think i think the energy part might be a trade that lost momentum, although you could point to other sign os a recession. Im not sure but i feel like the move in energy was so big in such a short amount of time, that even if the fundamentals were still there, which they very well may be, that it just was so much you had to take some money off the table. So, i wish i took ....