It will be another record close. On the week, the dow on pace for its first two week decline since august. Some who think this pullback we are seeing today and on the week could continue. This is a great chart that Katie Stockton shared with our new weekly charting segment earlier this week. This basically suggests we could see a bit of a pullback before stocks climb higher. This is the s p 500 in white over the last year. Katie is saying its likely to move down toward this area theed the cloud, perhaps 200 day moving average, a pullback of 25 before refreshing a year and rally. Year end rally. These are the big gainers on the week. Foot locker up 32 , mattel up 20 . Vision health care of 15 . Netap op onand earnings. Here onsee a decline the bloomberg dollar index, down. 7 . On the year, down more than 7 , on pace for the worst year since 2003. House republicans did pass that tax bill, perhaps a first step in an economic jolt. Some investors relative to the, dollar not too optimistic.
Were going to tell you about the new drug trial results weighing on that company today. Guess how it went. Well, it went well for someone else yeah. Exactly. Box office blues Movie Theater stocks are getting crushed again today. Six superheroes cant even save those shares being very opaque here but well explain coming up in a little bit. First, breaking news, just this afternoon on fed chair janet yellen, our dom chu has more on the story. All right, so guys, Federal Reserve chairman janet yellen will be leaving the fed completely in february and this is what some fed observers say is no real surprise. Fed chair yellens term as chairman expires in february we know this and President Trump has already made his pick to be the next fed head thats current fed governor Jerome Powell, of course, pending confirmation by the senate there had been some speculation around the notion, perhaps, yellen would maintain a presence on the fed board of governors since her term adds a governor of the cen
Missile launch there the last hour or so lets get to eamon javers at the white house to sort this out for us eamon . Reporter were expecting to hear from the president in the roosevelt room at the white house. We dont know what topic hes going to be speaking on. This is a moment where theyre allowing the press pool to come in to a previously scheduled meeting. That meeting was going to be with democratic and republican congressional leaders, but after the president tweeted about the Democratic Leaders earlier this morning and said he saw no hope for a deal with them, the democrats backed out of this meeting. The republicans are still tae attending. The white house says the invitation is still open for the democrats to come to the meeting. You can expect well see a few empty chairs in the meeting where nancy pelosi and Chuck Schumer would have been sitting. The president might address that in his remarks to the press pool which is waiting to go in as we speak. He might also talk about t
Tuesday. If the phone is not already ringing by now were awaiting the final number for august auto sales, the automakers and dealerships are dealing, of course, with the fallout from Hurricane Harvey, and well bring those numbers to you as soon as we get them phil lebeau will be stepping in with that. Also some new areas in the stormridden areas Chemical Plant explosions and also smoke inhalation. Well talk to two chemical engineers about the Companies Running these plants, if they are doing enough coming up, but we start with White House National Economic Council director gary cohn joining us on squawk on the street earlier today. We discussed why he doesnt think the white house tax reform plan will ultimately mean tax cuts for the wealthy we can simplify and fet rid of a lot of deductions those deductions actually affect the high bracket players so when you actually simplify the tax returns, youre actually affecting the high taxpayers the most as you simplify the tax system, you actu
Whats making headlines outside of the Business World. Gunman in the Las Vegas Shooting had a huge arsenal in the hotel room he used as a snipers current. Stephen paddocks body was found with 23 guns. Found two gun stocks that would have allowed a shooter to fully replicate automatic fire and at his home they found a further 19 guns, explosives and thousands of rounds of ammunition. The death toll has risen to 59. The white house is ruling out talks with north korea over its Nuclear Weapons days after secretary of state Rex Tillerson said the u. S. Was talking to north korea directly through our own channels. A white house spokeswoman said now is not the time to talk. The European Union wants more details about the uks brexit divisions before talk on a future trade deal. John claude uecker says theresa mays speech was conciliatory but speeches are not negotiating positions. The eu wants clarity on Citizens Rights. Global news 24 hours a day powered by more than 2700 journalists and anal