Washington about the massive spending bid are the bond vigilantes back power lunch starts right now good afternoon and welcome to power lunch. I dont know about you, but i cannot remember a week quite like this one. Another day of wild swings on the dow. Worst week on track for since october 2008 during the financial crisis the dow and the s p 500 hitting correction territory. They are off 10 from the recent highs and nasdaq darn near close to it. Tesla touching bear market levels, off 20 from its recent high fedex, ups, taking hits on the reports that amazon is now going to muscle into their territory michelle. Well see on that the latest on the topsyturvy friday lets get to bob pisani on the floor of the new york Stock Exchange. We are off the lows lets look at sector were getting a flight to safety in the ten year bond and reits beaten up, Leadership Groups and banks count them in the middle but industrial and energy and materials, the growth sectors, they are the ones that are gett
What would it say about the state of the Republican Party . Piece this week talking about how divided the Republican Party is, in terms of getting ducks in a row. With health care its interesting seeing the reception. This is a difficult package to sell. You already see the democratic ones out there, what people are talking about. His is a massive wealth transfer, tax break for the rich . You are putting potentially the most disadvantaged, the poorest people in the country, at risk for less Affordable Health care, no health care. Also you are to take benefits away people in wheelchairs, up there on the push the underlying message is an great. So much of it was drafted in secrecy. This was a hard bill to take back to district. Given the issues involved, particularly on what democrats are going to keep harping on. Lets compare this how different are these legislation . Broad strokes as megan pointed out, they are similar. Tax cuts are almost the same. There are changes that will help peo