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drama coming as president urges more action from lawmakers. senate republicans promising a vote on obamacare next week but there is no clear plan yet in place. new warning if the gop doesn t find a solution on health care you can kiss your tax cuts good-bye. melissa: what? i don t like that. back to the market, the dow ending the day in the red as investors dive through latest batch of earnings reports. g. biggest drag on the dow. lori rothman on the floor of new york stock exchange. i m not kissing anything good-bye. even though the dow is downs it is not all that bad. dow trading one one% of its best levels ever. s&p and nasdaq posted gains here for the third con executive week. s&p up half a percent. nasdaq up by 1.1%. earnings a big theme. everything was looking great until we heard from general electric. what happened with g. better-than-expected profit. ge. ceo jeff immelts last quarter. perhaps concern with that. ge shares down 3%. another loser i wanted to poi ....
if mexicans hoped donald trump s promises on the campaign trail had just been bluster and bravado, it looks as though they, and many americans who voted against him, are in for more disappointment. mr trump has already ordered a start on the border wall. now the white house is threatening a new tax on imports. mexico s president has cancelled a visit to washington next week, a meeting mr trump said would be fruitless. if the two countries are heading for a possible trade war how much money is involved? official figures for 2015 show that the united states exported nearly $270 billion of goods and services to mexico. in return mexico exported more than $316 billion of goods and services in the same year. that meant the us had a trade deficit of nearly $50 billion the white house says that figure was $60 billion for 2016. nick bryant has more. donald trump s new executive toy. his first ride today on air force one, that potent symbol of us presidential power. but it was ....
question and i certainly understand. congress has given you this authority and this directive. should congress not also have oversight over that authority in which we ve given you? chair yellen: congress, of course, has oversight over our conduct. rep. mchenry: you agree both domestically and internationally that we should have oversight over those rulemaking activities. in accordance with that, i sent you a letter from a couple weeks ago. thank you for the reply. i don t actually like the contents of it, but thank you for replying in a timely fashion before the hearing. i asked for your assurance about your participation in these international agreements for you to posit and tell the new administration, who has a markedly different approach to and has got their appointees in before you finalize any discussions internationally. chair yellen: you know that nothing is a rule that is effective in the united states until regulatory agencies have gone through a normal rulema ....
before we get started, we have breaknews. let s get to steve liesman back at hq. steve? from a trump press conference to liesman on big numbers on debt, huge numbers. the new york fed saying household debt rising by $226 billion in the fourth quarter of 2016. that is the biggest jump in household debt since the fourth quarter of 2013. it is now at $12.58 trillion, the biggest number since the fourth quarter of 08, which you ll remember is right around when it started to decline with the financial crisis. what led the way? mortgages at auto loans were behind this rise in household debt. but interestingly, bankruptcies and foreclosures reached an 18-year low, which is the history of this particular survey. so, those rates are really well down. you re not seeing a rise in bankruptcies and foreclosures, even while you re seeing the rise in debt. credit cards and student loan balances were also part of the increase. carl, we don t know if this is part of the trump phenome ....
rather thinks it s worse than watergate. the presidency is clearly under attack from its own bureaucrats and big tech companies, from the courts, academics, the left and media allies, this is intense. of course, investors are watching all of this, but they don t yet believe that politics stops tax cuts and growth and profits. for now they are ignoring politics. will you please look at this. the dow closed yesterday 20,600, up since the election and no significant retreat today. we will be down maybe 30 points at the opening bell, but on a 20,000 dow, that s nothing. . president has weighed in via an early morning tweet. part of this reads like this. great level of confidence and optimism even before the tax plan rollout. as we often say, you have a front row seat, so, sit back, watch history unfold. varney & company is about to begin. we begin today with this, today is a so-called day without immigrants. ashley, you better explain this, as a fellow immigrant, explai ....