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Heres the jargon, the yield curve inversion. This is fed day and a very big day. In advance of the official word on rates, stocks have been all over the place this morning, up and down, moment to moment. Right now we are looking like a loss of maybe 112 points for the dow and down 45 on the nasdaq. This is whats hitting the market, china. China says it will impose 5 to 10 tariffs on 75 billion worth of u. S. Goods. That is obviously a negative for china trade. Its escalation and therefore, bad for the market. Elsewhere, later today, the president leaves for france for the g7 summit. Interest rates and trade will surely come up there. They are gearing up for more big protests in hong kong. Were on it. And just wait until you hear what larry kudlow says about tax cuts. Lets get going. Varney company is about to begin. Weve negotiated with them, weve tried to move the football. They have backed away and we have taken measures through all of that time, weve had a very strong economy, weve ....
It is a bit of a selfless plug. A look at this chart that we have right here for you you the decisionmaking structure in china and how quickly the top line decisions are made and make their way down and permeate into Global Financial markets. If you do understand that this group coming out later in the mostay be offered Important Group of people for the Global Economy. Mye in point of this was morning peas from Bloomberg MarketsForward Guidance is this taking out of excess capacity in places like steel, it has been a real priority. We are in a situation where Producer Prices are trading up a lot positive data whether g10 or gv tv 15 72, follow th ....
And 8 billion read a mistake is just under 5 . Hes pushing for changes at the Company Including a possible sale. Up about 5 as a result of that news. Its crunch time on capitol hill for republican tax writers. Finaluse bill is in its day of mark ups. The ways and Means Committee has been debating and shaping the tax cuts and jobs act. We will be one step closer to cutting taxes for americans at every income level. David after election losses in new jersey and virginia the pressure is on for republicans. Lori davidson joins us. Let me ask you what we expect to see from the senate today. We have seen some headlines. How different are these pieces of legislation . Very different and they continue to be different both on the house and senate side. Trying tore still figure out what this is going to be. On the house side they are going to vote this thing out of committee and th ....