They know nothing theyre hanging on every word from Speaker Pelosi or secretary mnuchin, watching Mitch Mcconnells body language. We need to know if cash strapped states and Small Businesses will get the help they need but the stock markets already made up its mind it doesnt matter. Thats how we can some solid action today nasdaq soaring, 1. 42 hall hey lielujah were starting to hear about huge layoffs, okay disney, smaller ones at goldman sachs. Possible avalanche of firings at the airlines these people are losing their jobses through no fault of their own, and i hope the government can get its act together to help them, because its the right thing to do. The broader economy needs a stimulus package, America Needs a stimulus package but the market, oh, man, the market doesnt see a recession it seems a secular boom in Certain Industries i know this because were starting to get earnings from defensive companies that would normally give shareholders huge windfalls. But theyre greeted wit
Shift toward ecommerce. I think for investors, for business in general thats really the question of this moment right now for those businesses that have had this shift to online and have been able to capitalize that, were going to have skzinga on later d theyve done well in engagement because of that shift, how much of that are they going to be able to retain and continue for the rest of the year how much can platforms like apples ios and app store, were getting wwdc coming up in a few weeks, what changes can they and developers make to retain more of that benefit and maybe see a continuing shift in behavior thats unclear, but a lot hangs on that, morgan. Thats so right, jon, and that shift online i think is everything and a big part of that is ecommerce its one of the reasons im keeping a close eye on the u. S. Postal service right now, which is set to report its Quarterly Earnings tomorrow. Last night the usps announcing its finally getting a new postmaster general, louis dejoy, had
S p down just over a point and the dow down around 27 points. A lot of this watching what was happening in the market. Seeing the facts and circumstances that yield has continued to pick up as well getting to washington lawmakers voting along party lines to impeach the president we have more now good morning the House Chamber got a little roudy as leaders from both parties made their final speeches democrats did not choose this impeach. We did not wish for it i see coming out of a president who will put his head down and do his job. He will put the American People first. Ultimately, both articles did pass on mere party line votes and the discussion has merely shifted to what comes next House Speaker was not committal when asked whether the democrats will send the article over to the senate she even got a little combative after the vote well make a decision when we see what they are doing on the senate side. That is a decision well make fluently the Senate Majority leader does plan to m
Wall street is poised for a higher open. The historic impeachment of President Trump. Secretary mnuchin will join us exclusively in the next hour. We will discuss the postimpeachment economic agenda between now and the election the house readying that vote on the usmca, an important trade agreement. Plus, chips are continuing to outperform the rally the ceo will join us in squawk ali and iac is spinning off an online match group, all of it, shares are climbing ahead of bell now you, we begin, of course, with the market, one day after the impeachment of the president. Its an interesting evening. Yeah, it was. You know, david, this is the beginning of an under performance period if we find if we analogize to clinton. The only difference is that there were democrats who joined republicans in the impeachment process because they thought it was a cut and dry violation the lying about the section act. It was one count of perjury about lying about the sex act. You said there was a little more
Big news out of the United Nations, nikki haley announcing a cut in next years budget after the un voted to call for donald trump to withdraw his plans Israeli Embassy to jerusalem. Varney and company starts right now. Charles lets look at futures, under pressure all morning, fractionally better. Lets bring in zach hour. Everybody wants to know 205k in 2017. In 2017, i dont see why not, certainly lets call it by valentines day a couple points, next year will be a strong year for the stock market, the first half of next year especially. I am worried about a blow off topic for the market sometime next year but that is all the more reason. Charles you could argue this year, last year, the year before, pretty long market, people are calling for it. Prices are not crazy, prices are okay, we are introducing new money into this economy with conditions tight. What i worry about is a faster rise in Interest Rate than we expect giving more competition. The cd rates, why am i taking this risk in