Theyre going back and forth. The governor says no, that is not on the table. This story, the fight with china heating up. China will expel the New York Times, wall street journal, the Washington Post from china. Also kicking those papers out of hong kong and macau. All this as the administration and congress ramp up another historic package for the u. S. Economy. Look at Market Reaction to that, up more than 1000 points on the dow. Futures in the green. This just in the Federal Reserve brings back another Credit Facility from the 2008 crisis to help the Investment Bankers and brokerages smooth out the credit markets about it comes to dealing in u. S. Treasurys. Fox news Congressional Correspondent chad pergram in washington with more. Chad . Reporter liz, good evening. Treasury secretary Steve Mnuchin has come to capitol hill twice in the past 24 hours to talk to Senate Republicans about putting together massive 800 billion to a trillion dollar package to deal with the coronavirus. He
London and it works really well. Sometimes not so much but in some cases i agree with your priorities isolation, thank you as we kickoff the final hour of trade stocks are on pace for the best threeday performance since november Dow Jones Industrials up 108 points the s p getting 41 the nasdaq 150 points russell 2000 the biggest percentage of 25 points. No massive individual gains but when you punch up the five day chart we start with the russell because that best shows a muscular move of about 3 and it leads to the small and midcap breaking of bigtime, billionaire investor leon cooperman about to reveal to stocks in the russell that he has unmassed quite mistaken why he remains fully invested and will ask the Business School grad the news breaking couple of hours ago that his alma mater has canceled the main Commencement Ceremony and hes been very critical of the University Leadership and how it handled the propalestinian prohamas campus protest and announced on the show back in octob
Unicredit reports its highest Fourth Quarter profit in a decade and rolls out its first Cash Dividend in half a decade. Shares in swiss re spike nearly 6 at the open addres ja softbank looks to invest in the insurer. Insurance is finally a very interesting industry its in a transformation its in a radical revolution the parameters that run the industry and constrained the industry for years no longer exist. And chinese imports surge in january and contributes to the yu yuans worst day in 2 1 2 years. One of the big stories, softbank in talks with swiss re about taking a stake in the company, that sent shares close to the top of the stoxx 600. The deal could be worth around 10 billion and would give the Japanese Firm a onethird stake in the reinsurer swiss re said the talks were at an early stage and theres no certainty any transaction will be agreed. Doesnt seem like investors are seeing it that way Zurich Insurance reported fullyear net profit ahead of expectations the figure came in
Let by industrials and health care. You have the nasdaq down for the first day. Frontier, trying to stem off customer losses after producing assets from verizon. The s and p. Half good and half bad. This is in my terminal. Half in green, the other in red. This push pull feel came from the cpi number. Down, the gasoline and real estate once you get through hurricane season, may be the numbers dont look as good as we thought. A little bit of lack of conviction. Fanny and freddie. You have a letter from six democrats to the federal Housing Finance agency asking for a buffer. Take a look at these stocks. That core cpi number. I want to end on oil. It briefly touched above 50 a barrel. We are right here at that mark. You have some of the other Energy Companies getting a boost from the oil rally. Julia i will pick up right where you left off. U. S. Inflation may be creeping back toward the Federal Reserve 2 target. Todays Inflation Report offers some relief perhaps. Even if inflation was mov
Tell us volatility is back, but were not seeing it. This morning the vix is trading at 10. It marked the second time this year that the vix traded below 10. Overnight in asia, take a look and youll see the nikkei was up by 0. 7 . Hang seng was up by a third of a percent. The shanghai was down by a third of a percentage point. In europe, some of the early trading, things are relatively calm. Ftse up by a half percentage point. Modest gains for the cac and dax. Among the top stories, big news out of hollywood. The Writers Guild of america reaching a tentative agreement with the alliance of Motion Picture and Television Producers avoiding a Writers Strike. They reached an agreement just after midnight. The Writers Guild had threatened to strike today if an agreement was not in place. Infosys making a big bet on america. The Company Announcing it will create 10,000 jobs here in the United States of the next two years. Those jobs will focus on the cloud, Artificial Intelligence and big data