On this thursday, jobless are front and center jon jon . A News Conference center. Jon a News Conference over the weekend, lisa, i love this about the great depression. That after delivering record fees worldwide for the firm. Just try to reconcile those things for us. Lisa its a boom of fees in a time of incredible uncertainty coming on the heels of fiscal stimulus and the question is how do they pair these realities . We will have more on that decision at 7 45 a. M. , i am watching it even though guy johnson calls it a snooze. Hopefully the press conference will be less of a snooze. Tom, to your point, jobless claims and retail sales are already anxious history, but we can get a sense of how much momentum there was going into this resurgence of cases in the virus. We are also getting netflix earnings after the bell. Interesting to see if some of these high flyers improve. Me you would never catch characterizing and ecb News Conference that way, would you, tom . [laughter] tom never.
Good evening, everyone. Welcome. Well, the stage is set and investors cheered. Federal reserve chair Jerome Powell bolstered the case for a possible Interest Rate cut when policymakers meet at the end of he suggested that lowering the benchmark rate would bolster growth and cited a number of uncertainties here and around the globe. Thatd lif optimism on wall street, sending the nasdaq to new highs and the s p 500 ble l briefly through the 3,000 mark before it pulled back. The downd jonestrial average rose 26 points to 26,860. Theasdaq was up 60 and the s p 500 gained 13. We have two reports tonight. Bob pisani is at the New York Stock Exchange, but we begin with Steve Liesman and the fed. Fed chairman Jerome Powell all but guaranteed thel fed w be cutting rates probably as soon a this month, from the testimony in the house today. While he said the u. S. Economy is in a good place he emphasized globalncertaint economic weakness and low inflation as the things guiding policy. Would it be
To a Special Edition of news night. Im abby phillip alongside laura coates right here and Donald Trumps lawyers tried to pan fry Michael Cohen on the Witness Stand Today and perhaps the most important day of testimony so far, eight oh, tonight, Donald Rumsfeld . Yes. That Donald Rumsfeld gives us all a lens to view whats left in the Hush Money Trial. The known knowns, unknown knowns, and unknown unknowns. So first the known knowns all those bad fats. So the prosecution took painstaking care to get in front of the jury so that they did not hear them for the first time and crossexamination, that cohen was a jerk, that he was a bully, that cohen was designated a thug, that Michael Cohen cashed in on Donald Trumps name all of them facts that the governments attorney put on the record to make the cross case a little bit less of a rough and tumble affair. Second, you havent the unknown knowns how the j. Will actually choose to react to everything theyve seen and heard from cohen. Well crosse
and authorizing repurchase of $15 billion of its stock. the federal reserve will now release the stress tests right at 4:30 p.m. eastern, earlier than we expected on the jpmorgan news. we ll hear all about the stress test results in about 30 minutes. the latest meeting also helping to fuel the rally today. the central bank giving no hints about new mon hear easing. the fed did give a more encouraging view about the economy. that started the rally going. and then things really took off in the final hour. at 4:00 p.m., the dow jones industrial average up 218.5 points. finishing at 13,178. volume picking up, close to 900 million shares traded at the new york stock exchange. nasdaq remains the winner on the year, winner on the day, up nearly 2% on nasdaq. up about 15% in 2012. 3,039 is where the nasdaq settles out. the s&p 500 picking up 25 points, nearly 2% there as well. financials in the lead. technology also participating in a big way. 1,396 even is where the s&p 500 finishes