Implications for Monetary Policy but the implications for fiscal policy. Moree longer we wait, the institutional damage. Michael collins joining us. I think that was the first question everyone asked when this job support dropped, what do these numbers mean for the talks in d. C. . Michael i dont think these numbers have any impact. They are backward looking to a large extent. The survey period ended weeks ago. The is important is trajectory of job growth over the next couple quarters. Personally, it will be really sluggish. We have had a big rebound, a and part of that rebound is over, and it will be really tough. You have the expiration of some of these programs like ppp, unemployment benefits, and that is going to weigh on income and spending. Until theyy not act have a gun to their head. Are doing well, ostensibly, the markets are improving, they are dragging their feet. Negativewill take more data for them to act in unison. Jonathan in this market, it is not pushing anyone around.
Oversight of wall street. Topics included International Competitiveness of us banks, proposed regulations that increased Capital Requirements aexrand access to capital for Small Business owners,veterans and underserved communities. Piggy â– hauser affairs will come to order. Senator scott, thankyou for your work on this. Ceos appearing before us daithe biggest global systemically important bankswi in the United States of america. Thanks old nearly 15 trillion in assets, manage trillions in investments and retirement accounts from the Biggest Companies in our country. Youll old nearly half the nations deposits, 80 trillion in client assets. Your banks touch ever of our Financial System even if they are not your customers. All that makes you eight onof the most powerful people in the country complex, so interconnected that their distress or failure pose a threat to the Financial System. You may be private companies but the risks you take mistakes you make dont just affect you, they dont
First breaking news on how the tax plan will impact you ylan mui is live on capitol hill. Reporter treasury secretary Steven Mnuchin spoke moments ago about the administrations first step in turning the tax law into reality. Treasury department and the irs have just issued new guidance it to employers, telling them how much money to withhold from their paycheck under the new tax law. The irs will be releasing a new withholding calculator that will be vail on irs. Gov by the end of february. This will help provide individuals with certainty, so that they are neither overwithheld or underwithheld and can plan financial decisions. Reporter democrats have criticized the rollout of this process, saying that many people could actually end up paying too little in taxes. Secretary mnuchin said that claim is ridiculous, and that this process has not been politicized. Now, the white house is celebrating todays guidance as a win that will put more money in it workers paychecks but the same time t
Eisen, john fortt at post 9 of the new york stock exchange. Some outsized gains for the dow this morning on the back of 3m and kacaterpillar as earnings season kicks into high gear. Its the industrials taking us higher for that we turn to bob pisani on the floor bob . You want to know what a reflags trade looks like, you can see it today the earnings are in the industrials space and thats part of the reflation trade. This is what weve been talking about, Global Economy expanding, something caterpillar was emphasizing here i want to just show you something, because only half the dow stocks are up, believe it or not, only half the dow stocks are on the upside. The dow is up 0. 8 and the s p is essentially up 0. 2 thats a huge percentage difference and thats because a couple of companies as you heard from carl, are making the difference in the Dow Jones Industrial average some of the big names raising guidance, 3m look at that, up 14 points there. Caterpillar, put that together, youve got
Welcome to countdown. I am guy johnson. Friday, a little bit of a disappointment. We saw the payroll number come through significantly lower than the market was anticipating. The credibility of the fed beginning to be called into question. It was an interesting question in terms of the equity market positioning. To backes the fed have off of a rate rise this year . Story withe stock the s p 500 up by 1. 43 . The nasdaq was up 1. 74 . You may be thinking this is farming today. There is a certain agricultural theme running through our big stories. You heard what is happening with glencore. Glencore is on a roll this morning. If youre looking for a stock with volatility, this is it. It was up at one point over 40 . Bunch ofn for that, a companies that could potentially be interested in taking a stake in the agricultural unit. We will hear more from ryan in just a moment. Storyo have the cayenne s. Something of an agricultural theme running through that story. The glencore story is absolut