Exchange. Nicole lets bring everybody to speed. The Dow Jones Industrial average 453 points so youre seeing heavy selling, selling across the board, certainly in those economically sensitive areas such as financials and the like, but the lowest point today we were down nearly 540 points. That was during trading. Overnight over 800. So traders now are saiding what happens by the end of the day and while some projecting only 200300 point loss, others are worried about next week. What happens next in the European Union and what janet yellen says next week . Here is a look at the ftse and cac quarante. They closed 8 , german dax 5 . Bringing back to currencies, we saw the uk pound plummet the most ever on record, plummet into the lowist lowest levels in 31 years. A little better but a lot of worries that it could go even further to the downside. I mention the financials, which have exposure to europe and uk in particular. We are watching gold as well. Gold has been a safe haven. Gold is up
Here lunatic Dagen Mcdowell look at her face. [laughter] let me start with you, dagen you only dare say that because im not in the studio with you, and i cant punch you in the throat. Connell there is that. [laughter] heres what janet yellen said, theyre concerned about the jobs report for the month of august. It looks like she gave herself some room and the ped some room about hiking in the month of september, but it definitely seems like a hike in november or december is likely given the strengthening of the economy. Listen, i know that the Second Quarter gdp came in at 1. 1 . That was dreadful, if you will. Worst recovery since 1949 overall. We had two, the last two months of job gains came in at 547,000 jobs, so there has been firming there, and thats what the feds looking for. Connell let me go to jeff next and brian can maybe give us a Bigger Picture point of view. We were up triple digits on the dow, and now were down almost 15 points. What are people reading into the yellen com
Okay, so thats less money for a government already deep in the red, one would assume it makes the deficit worse, right . Wrong. Romney says hell pay for that tax cut in two ways, one, hell limit the tax breaks. Hell spur Economic Growth because people can use that money that theyll save this taxes. Its not entirely clear how much Economic Growth that will produce. What is clear is that the measly 1. 3 of Economic Growth that they achieved in the Second Quarter this year isnt enough to make up for the romney shortfall, and with the u. S. Economy forecasted to grow by about 3 in 2013 and 2014, romneys plan, as attractive as it sounds, is in doubt. Kevin hasseth is an economic adviser. Kevin, romneys plan seems to assume that the simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. A lot of economists disagree with that notion, the classic chicken and egg scenario. I spoke with secretary larry m sumners a few weeks ago and
Virginia Code prohibits a train from blocking a crossing for longer than 5 minutes but due to the federal nature of the railway system, that code is unenforceable.
/PRNewswire/ Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Wheaton, Illinois. "We look forward.