Leaning on big cap tech. Once again ass an anchor s p 500 First Time Since february, microsoft, tiktok in the news schumer says the democrats in the white house have started to move a little closer on a stimulus agreement, and of course david disney tonight, which will give us all kinds of information about the progress of parks, studio entertainment, advertising and more as we have said many times over the last few months, disney in some ways a reflection of the economy, certainly the consumer side of it to some extent. I know julia is going to be following that closely after the bell expectations cant be particularly high but we are looking for a lot more data when it comes to the parks and the attendance, when it comes to directtoconsumer of course with disney plus and the exhibition of motion pictures, which is not something thats going on right now. Absolutely, david, i mean, i think it will be really interesting to get some more insight into the success of that streaming business
Typically this is the time you would see investors plow back into their equity safe havens like tech names. The sectors outperforming our the two that have been hit the hardest so far this year, financials and energy. Financial still off 24 . Energy down 30 year to date. Well asbank index doing regulators rollback some of the rules put in place after the great financial crisis. Banks will no longer have to set aside money when trading derivatives with their affiliates. That frees up capital, and that is always a good thing for banks. Regulators are modifying the volcker rule to allow banks to increase investments in funds. Do not watch not forget to watch for the fed releasing stress test results. Watch apple and disney, apples closing other seven stores in houston after closing 11 last week because of increased virus counts across different states. Disney delaying the opening of disneyland in anaheim indefinitely. It is not the cake and get approval from state officials in time for th
Morning. Education secretary rick perry calling it a deliberate attack on the Global Economy. Plus oxycontin maker, pharma filing for bankruptcy this morning. First up, though, a series of attacks on two of the Worlds Largest Oil Facilities in the news the u. S. Is rejecting that notion saying the scope and the precision of the attack suggests the launch was made by the houthis but, in fact, originated by iran. Iran calling the claims baseless and unacceptable guys, weve been talking all year long about what it could take to produce a true supply shock. I think theyll come back 5. 7 Million Barrels. Look theres a temporary inability to get permian oil. You can only ship so much. You have one harbor who can handle it, two others. Corpus christi not yet i guess what im saying it cant. Were pumping too much and it does remind you if we had even more pipelines, we could just turn the spigot on its not the Strategic Petroleum reserve. Its the permian. There are a lot of key questions. One,
Hoenig, christina partsinevelos, john layfield. The president confirming reports he is eying a payroll tax cut but he says it has nothing to do with any recession fears. Listen. President trump ive been thinking about payroll taxes for a long time whether or not we do it now or not is, its not being done because of recession, because we are legitimately, if we had a cut in Interest Rates by the fed, if they would do their job properly, and if they would do a meaningful cut, because they raise too fast youd see growth like youve not seen ever in this country. David so carol weve been hearing about a payroll tax cut since the original tax cuts were mentioned, about a year and a half ago. Should we move forward on a payroll tax cut now . Definitely not at this time. You have to remember what payroll taxes go to fund and thats social security, so unless youre going to redo all of the social security, which is already underfunded i dont think thats the right tool; however i do like the fact
Trash truck in philadelphias juniata section this morning. Action news has learned the search for the man began shortly before 6 00 a. M. On the 300 block of east erie avenue. Police say the man was sleeping in a dumpster when it was lifted into a Waste Management truck. Rescue crews spent nearly two hours trying to get him out of the truck. He was taken to Temple University hospital with lowerable hip and leg injuries. A crash involved three vehicles that happened about 6 oclock last night in the area of 495 and route 141. Officials say the 80yearold suffered head and facial injuries and remains hospitalized. Two other people at the scene were checked out by paramedics. No word on what caused the collision. Reverend al sharpton expected to visit philadelphia Rapper Meek Mill in prison today. Mill was sentenced to at least two years in prison for a probation violation. The rap stars attorneys claim the judges sentence was too harsh adding that the District Attorneys Office did not reco