A tax cut now expected next week as the dow hit a new intraday high earlier but then closed down 76 points, as senator marco rubio now says he will vote against the deal unless it includes a larger tax break for children. Tonight, how that tax break creates big payout from uncle sam for people who never pay in. And of course, the course against Robert Mueller grows gop leaders including Senate Judiciary chair Chuck Grassley now demanding the Justice Department get real with more information about alleged anti trump proHillary Clinton bias in the fbi. Weve got exclusive analysis from former fbi director Jim Kallstrom tonight plus a bomb threat clears the offices of the chief internet regulator in d. C. Which voted on new Game Changing rules affecting how you watch and shop online. It was a false alarm but well bring you more on that vote and speaking of streaming, a mega deal. Disney buying a big chunk of 21st century fox for 52. 4 billion. Again that is a landmark deal that will redraw
Welcome to power lunch. Stocks are lower at this hour and dow and the s p 500 slightly higher telecomes are the best financials fedex more than 300 and wild trading day for bitcoin plunged 10 earlier and sinking again now. A lot of news. Hackings, bankruptcies and selling from a major player. Well dive deeper into it. Blackberry the company topping expectations and 2018 revenue and stitchfix, however, tanking. The Apparel Company increasing its Customer Base but its bottom line was impacted by higher costs. And chipotle taking a drop the stock is lowered by more than 2. 5 . Brian . Michelle, thank you. We begin today with the latest out of washington, d. C. The tax bill passing, again. All the angles of that bill covered. Abram at the president where the president is expected to hold a tax bill event at 3 00 p. M and kayla is on the next big story. Thats a funding bill to keep the government open. Lets start with elan. Brian, it is Done Congress has now passed the most sweeping rewrite
A little cooler as we get into the weekend. I will detail the weekend and the possibility for rain coming up. Security will be very tight and San Francisco this weekend. Thousands will be celebrating the new year along the San Francisco waterfront. Alex savidge is there now with what police are doing to keep people safe. Reporter good morning. A lot going on behind the scenes as we head toward the new year. San Francisco Police are assuring everyone they will be out in force along the embarcadero on sunday. If you were out in the city, a lot of officers are in uniform, others will be undercover. Tens of thousands are expected to pack the waterfront to watch the fireworks on sunday night. In an effort to watch the crowds, San Francisco will be activating its Emergency Operations center. Of course there is an increased focus on security this new years eve and light of a foiled Christmas Day terror attack on pier 39. Former marine Everett Jamerson is behind bars and accused of planning an
Stress that there are no Credible Threats related to the they want everyone to be cautious and keep an eye out for anything suspicious. Alex savidge will have a live report on the security measures and events coming up. The california Highway Patrol said his holiday maximum enforcement period will start tonight at 6 00 and will last until new years morning. Chp officers will not only be looking for drunk drivers but also speeders and anyone not wearing a seatbelt. During the christmas enforcement period, chp made more than 900 arrests. 144 of those were here in the bay area. The Highway Patrol said 27 people died on california roadways over that Holiday Weekend and say about half of those killed were not wearing seatbelts. Over thanksgiving, chp said 76 were killed state wide. That includes highways and city streets. They say more than 1000 dui arrests were made. That is up 17 over last year. And the south bay, San Jose Police are investigating a stabbing that left a 17year old dead. P
Was slowing down old devices what theyre doing to win back favor and what it means for the stock. First, stocks rallying to kick off the new year. The nasdaq and s p 500 both closing at record highs with nasdaq closing above 7k for the first time ever. It does feel a bit like 2017, when tech crushed the competition, soaring 37 what do you do in this new year . Do you stick with what was working, namely technology, guy . I think you do, mel, and happy new year i think you do stay the course people want to play the laggards, but stay with what works and what has worked. Dan nathan has been on this. Intel, big move to the upside, valuation is reasonable. Micron had that huge move from basically the low 30s up to 50, retraced back to 40, had a decent day today valuation of micron makes sense, dram pricing is still heavy. Texas instruments, great story, theyre in great places, but now 24 times forward earnings, i think its gotten expensive. Technology works, just be aware of what youre buyi