500 on pace for their biggest quarterly gains in nearly 20 years, and the nasdaqs about to have its best quarter since 2001. We will break down all the numbers for you. While this quarter was rosy, the future might not be so bright. If you ask Federal Reserve chairman Jerome Powell, the fed head warning of an extraordinarily uncertain economic picture due to the coronavirus. Treasury secretary Stephen Mnuchin just wrapped up testimony on capitol hill, long day for them. We will go to d. C. For all the fireworks that happened in that room. Meanwhile, we are just nine hours away from the deadline for Small Businesses to tap into what is left of the Paycheck Protection Program. It still has more than 100 billion available. The ceo of Valley National bank is here to tell us how he thought the program worked and what should be done with all that excess cash and should there be more stimulus. Then theres this. The Work Life Balance turned upside down during the coronavirus pandemic but as st
Panels effective february 7th, the result of a months long investigation by the bipartisan trade commission on washing machines, nonu. S. Importers will be charged 20 to 50 per unit depending on the volume of the products they are importing. Goldman sachs estimates the price tag a shopper will see will raise anywhere between 8 to 20 in the absence of these highvolume cheap products from overseas the administration on solar panels is adding a 30 levy. It declines over time and it will benefit u. S. Manufacturers. But companies that install solar panels will see their prices increase that led South Carolina congressman mark sanford to call the tariffs shortsighted and said his state would lose over 7,000 jobs in the Solar Industry as a direct result of these tariffs. This afternoon at the white house, President Trump said he expected the move would create jobs our companies will not be taken advantage of anymore and our workers are going to have lots of really great jobs with products th
209,000 job in july. We will debate whether the job creation this makes i believe the sixth months in a row of above 200,000 being added to the economy. What it might mean for fed policy. First lets check in at a very busy New York Stock Exchange with sue herera. Absolutely. It really is the big story today. This hour the markets. Just told you the dow was down. It was worst. Down 89s points. Also getting the hit, the nasdaq, down just under a full once again, the nasdaq down 34. S p 500 down the russell 2000 down almost a . Now, in terms of. Gold market, were up. Remember yesterday we were down about 13 bucks, we basically gained it all back. Crude oil is down 91 cents, and the yield on the tenyear note broke below the 2. 5 mark. For the european markets, it was another very bad day. We have the ftse over in london, the dax, and the French Market as well. Well start here with impossible. Hello. It a little disappointment. Its not been able to stick. We did rally a bit going into the o
Its called a tsunami move. The swiss bank stunning markets overnight scrapping the peg against the euro sending its currency soaring up 10 against the dollar now, but it was up as much as 30 right after that announce. Check this out. Gold moves on the swiss move this morning. The last trade on the gold market is up 28. 5 on the trading session. Sarah eisen is following the story for us here with the move that stunned markets all the way around the world. Shocking policy uturn. This is what happened. The peg, were talking about, was put in place three and a half years ago to keep the swiss frank from being too strong hurting exports, a key part of the economy. This goes back to the european debt crisis three and a half years ago when people just could not get enough of the swiss franc. What they did, they got rid of it today. Why . It was becoming very costly. It was reeking havoc on the Balance Sheet of the central bank, building up more than 500 franc in reserves defending the line in
About 2. 25 points. The market closing lower once again today, adding to the losses we have been seeing since the election. Is a deal in washington what investors are waiting for to get back into the game . Joining me now is ben pace from deutsch back private wealth management, Scott Collier and our own mandy drury. Good to see everybody. Ben pace, what is behind this selling, and when will it end . Whats your take . I dont think its really economic right now, maria. I think its pretty political. Every pronouncement weve heard over the last four, five days has decreased the likelihood were going to have a quick resolution of bargaining that has to happen in washington. Again, it has to happen. It increases the likelihood that we fall off the cliff for lack of a better term. We still dont think thats over the 50 probability. It was probably 25 to 30 mow. Thats why the markets are where they are. Theyre starting to hit levels now where theyre looking attractive from a dividend yield pers