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June 20, 2024
Im not going to vote for any plan that will get a majority of republicans in the house. As a result take a look at the futures this morning. You will see that there are some red arrows once again. Dow futures down by 93 points below fair value. The s p futures down by 10 points. Andrew, ill send it over to you. The bond market today not open because of columbus day which may have a little bit of an impact in terms of the odd dynamic between the stock market and what people think is going on. Als...
June 20, 2024
Reports suggest an agreement on the shutdown is coming along. The 10year right around 2. 71 and europe is up on some of the highest german Economic Confidence numbers in the past three years. Our road map begins with anticipation. Two days from the debt ceiling, day 15 of the shutdown, still no deal on the table. But lawmakers say they are clos closer. A mixed bag of quarterly results. Citi, coke and j j. And blackberry placing an open letter to customers to reassure them, quote, you can continu...
June 20, 2024
Traders spent much of the morning waiting for speaker baner to emerge from the meeting with the House Republican s. He same out and said they made no decisions at all. Is it fair to say Speaker Boehner doesnt have the votes to get whatever they have on the table through the house . Yes. The situation is in flux right now and it was surprise because yesterday was all about the Senate Making progress, harry reid and Mitch Mcconnell on a plan that they were going to send to the house and count on t...
June 20, 2024
Business leaders who were really fed up with washingtonp. Were going to hear from them. These are people who have lost money including one Business Owner down about a quarter of a Million Dollars since the shutdown. Were going to give them a chance to speak on our hour and we hope washington will listen. Im going to look at this. How can i be here and there at the same time . You figure that out. The guy by the computer went and showed us where the error actually was in the string of code on tho...
June 20, 2024
Last two weeks. The yields on debt that comes due in one month have risen to levels higher than yields for maturity thats dont secure for six months. Thats a big deal because normally an issuer would pay to borrow for longer periods of time. The institutions want to avoid being stuck with debt in the event of a default. Citigroup has told clients it would rather not take treasuries on october 24th as a sign of collateral. Andrew, this a sign your money is no good here. Weve got more on the situa...
June 20, 2024
They were buttoning that up. The house went into session this morning, that is to say, the Republican Caucus met. The speaker came up with a plan, or the leadership presented to members a plan, that was different, had more provisions going after obama care in it. It was divisive within the caucus. They did not have a consensus. The speaker came out and said, we havent decided what to do. Were still talking about it. But that had the effect of causing Mitch Mcconnell to hit the pause button on hi...
June 20, 2024
Its debt. We are three days from potentially hitting the debt ceiling, a move one bank ceo says would be a very rapidly spreading, fatal disease. We are on the grown in washington with the latest details. The deadlock in washington is weighing on stocks today. We are counting you down to the market open 30 minutes from now. Netflix coming to a cable box near you. A new report says the streaming Video Service is in talk with cable providers and shares of netflix are higher in the premarket. Still...
June 20, 2024
This Digital Commerce company are up about 4 at the moment to 25. 69. An upgrade from wells fargo to outperform from market perform. Those are some good individual stock stories, but earlier Liberty Interactive did reach an alltime high. So what exactly is going on in washington right now, and will the market optimism last . Weve got peter barnes stationed at the white house, rich edson, hes planted at capitol hill, nicole is on the floor of the New York Stock Exchange, sandra smith at the cme g...
June 20, 2024
In washington all eyes on the senate where botsides try to hammer out a deal now we hear ere will be a new plan to the colleagues of the house tomorrow morning the proposed deal will suspend the debt ceiling until febrry and find the government through the middle of january so we can kick the can dowown the road. Withur senior columnist and how this impacts your pockbook. I will tell you i am starting their right away. We have a lot headlines of the psible agreement but the government running ou...
June 20, 2024
President. According to the bureau of labor statistics. 10 Million People unemployed. An additional 91 million are out of work and not even looking. They have given up. Washington bring the president took a page from the wpa years ago. We havent done anything new except the president is trying to defend the creation of government created jobs. Rather than saying we dont know what would have happened had the government stayed out of the business of job creation and allowed the economy to move for...