The economy. We keep edging closer to 3 on the tenyear treasury. 386 as of now. Consider this. More Big Companies are giving bonuses. Uhaul is the latest giving 1,200. Thats stimulus. Paychecks going up. Thats stimulus. Government spending going up. And infrastructure package evolving big spending that looks more and more likely. So what happens to Interest Rates . If they go up sharply, expect a reaction on the stock market. Today, the freeranging immigration debate begins. Well see the infrastructure plan. And just wait until you see how the media fawned over north koreas propaganda chief. And now watch this. The new look Varney Company is about to begin. Stuart i do declare we like it. Look at that. The new look debuts today. I see heavy use of gold. Ashley yes. My only concern is theyve blown the budget for the year, but i do love it. I do love it. Stuart i would like to have been airbrushed a little bit thinner. Liz right . Stuart i like the old. Liz you are smiling. Its sharp and
Plan and calling for more more Border Security and more money for veterans but doesnt do a lot about the ballooning deficit. What happened to republicans cutting on spending . Where is that . Well ask Republican Congressman francis rooney. We have Connell Mcshane on the latest on the 1 1 2 trillion dollar infrastructure plan. Reporter the idea is to provide incentives to state and local governments to pick up the rest of the spending, one trillion dollars plus, a new bridges and tunnels, airports and all these Infrastructure Projects. That is why the president invited a number of state, local governors and officials at white house. In that meeting held earlier today he pretty much put it straight to them. Listen. Lets see how badly you want it. [laughter]. If you want it badly, youre going to get it f you dont want it, that is okay with me too. But we have to rebuild our infrastructure. Reporter talking about incentives there, how badly do you want it . We have reaction from democrats.
Nasdaq at 5,120. S p 5002,087 and the russell down almost a full percent. But we begin now with the big deal in health insurance. It is official. An them agreeing to buy cigna for 188 per share in cash and stock. An enterprised are value of 54 billion. Straight to bertha coombs. Combined anthem and sigma would unseat United Health to become the largest u. S. Health insurer with 150 billion in annual revenues. More than 50 million members covering nearly 1 in 5 americans. Anthems ceo joseph swedish aide mitts put admits putting the two big firms together will be challenging but with that scale they can generate operating savings and make them more affordable. It will improper our ability to serve customers across commercial medicaid medicare and International Markets and create greater efficiencies and afford ability for our customers. But the anthem deal taken with aetnas proposed merger with humana would result in the big five insurers becoming the big three. One antitrust lawyer tell
Than f. A. N. G. My acronym for facebook, amazon, netflix and google. When they try to lead, nothing else follows. Thats why we could rally as hard as we did with the dow roaring 190 points. The s p 1. 24 and the nasdaq jumping 0. 98 . Sure, it might be a one day wonder. No it could be. But wonder of wonders it did happen. I often talk about the setup of a given day. Typically when im squawk on the street i like setup or i dont like the setup which is the case for ages until today. When i said, holy cow this setup could be a good one. Too many people got negative. The markets oversold. And like i said last night, it would take tremendous discipline to buy something. Remember the what i gave you, which is a sign that were arriving from the short term bottom. I want to give you a blow by blow of what defines the setup for me. And why todays so positive versus the unrelenting negativity we have gotten used to lately and the whole setup will strike you as being counterintuitive. It all sta
17 months. 215,000 positions were added in july, with the Unemployment Rate steady at 5. 3 . Wages ss nudged up just slightly while the share of americans participating in the labor force remains stuck at a 38year low. But experts say the overall report is proof the recovery is chugging along and likely keeps the Federal Reserve on track for its first Interest Rate hike since 2006. Hampton pearson has more on the numbers and what they mean for main street and wall street. For the first seven months of this year job growth has been wide spread averaging 212,000 jobs per month. Health care continues to lead up 436,000 for the year including 28,000 last month. Retailers have added 322,000 new employees as Consumer Spending picks up. And it was another strong month for professional and Technical Services up 27,000 topping 301,000 for the year. Those booming auto sales help manufacturing have its best month of the year. Workers hours increased, but wage growth remained stagnant. Overall, a