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Should be focused on what is it welcome to power lunch we are in rally mode the nasdaq hit its first record for december the dow jones and the s p 500 on the fourth straight week of gains. Consumer discretionary moving big. Underarmour moving higher. Kohls also. And take a look at the electronic retailer, up more than 50 this year thank you we begin this hour with tax refo reform expected to be agreed torsion signed, eventually unveiled to the public later today we still await the final details of what is in and what is out. Live in washington reporter two sources now confirming to me marco rubio does plan to support the republican tax bill. They put in some lastminute changes to win him over. Namely increasing the refundable portion of the Child Tax Credit. Just about an hour ago, kevin brady who chairs the ways and Means Committee spoke about at the chances of the bills ....
Power lunch starts right now good day, everybody the three averages bouncing back just a bit from yesterdays selloff and three days of declines the latest inflation data fueling some gains despite those gains, the dow is on track for the worst weekly decline since april. The s p 500 on track for its biggest weekly drop since march. Check out the transports, they are on pace for their best daily performance in a month youd say maybe its a little mixed picture. Fedex, rider systems, avis, budget leading the way. We begin with a stock not doing it right investors are losing 20 of their money again today and that continues a run of pain that put the stock at a 45year low Courtney Reagan is here with more on whats hurting the company. The stock reaction for j. C. Penney and other stores has been more severe for several reasons. They had run up 20 since the last reports we did get trends so some sell on the news here but sell because b ....
May have to raise rates very quickly in the future. And she says that due to raising rates are not raising rates due to market volatility is something the fed should be very wary of. She says she reduced her rate path for the fed funds rate from december to march. But says now the economy has shown considerable resilience. Recent inflation data, she says, has been somewhat encouraging and she expects wages to accelerate as the labor market tightens. She sees strength in Consumer Spending with strength in housing. Now, one curious line in here, she says i did not descend from the march decision as if somebody was asking her that question. As far as i know, brian, nobody asked her, but it makes me think that miss mester is not far from descenting if the fed does not move relatively soon here. I didnt steal the candy. Exactly. Im glad you see that. The line kind of sits out there, i did not dissent, as if somebody expected her to ....
Wildfire thats engulfing canadas oilrich province of alberta, disrupting production and sending ripples through the Global Energy markets. Oil companies are evacuating workers, shutting plants or reducing production. The disruption sent Oil Prices Higher initially, above 46 a barrel. But when reports came in that some production may be returning, the gains were paired, settling up 1 with respect to just above 44. Dierdre bosa is in wood buffalo, alberta, with more on the blaze, the thousands displaced, and the damage its done. Reporter clogged highways. An overwhelmed airport. And an entire city evacuated. This is ft. Mcmurray, the heart of canadas oil fans. And its on fire. As of this morning a total of 49 wildfires raged in alberta over more than 300 square miles. Our thoughts are turning to our friends in alberta. Obviously ft. Mcmurray being evacuated has been extremely ....