Chinas Foreign Ministry addressing the recent headlines about restricting foreign branded mobile devices. In a regular briefing she said, quote, we notice thereve been many media reports about concerns over the apple phones. She said they have not issues laws and regulations to ban the purchase of apple or foreign branded phones, but purchases are what people are focusing on. They have restricted the use of iphones in government offices and plan to expand restrictions to state owned companies. That comes a day after apple unveiled its latest iphone models. Were going to have a lot more on that in a couple of minutes. The difference between use and purchase is a big difference. If you cant use it. Yeah. I think this is why they call it news. New overnight the European Commission has launched an investigation into subsidies given to electric vehicle makers in china, right . Thats sort of what we do. The president of the ecb announced it at her annual address at the universal parliament.
Extremely positive senator joe mansion, democrat from west virginia, who he did vote in favor of the bill on friday he said the meeting was very positive but senator nelson of florida who voted no on friday said that he believes you will see a resounding yes this according to our colleagues from nbc news. Republicans feel they offered a significant olive branch and even being willing to bring immigration debate to the floor before february 8 but we will see whether those assurances are enough to win over what are 12 democratic votes needed to secure this to reopen the government but stocott, of that, it goes bc to the house, and we will talk about that vote as well. Thank you so much we will jump back to d. C kayla will monitor the vote as it takes place a vote that could take a half an hour or so in the meantime, markets remain front an center for us as always our expert panel is with us, as usual. Today we have ian winer of web bush security. Josh, the headline from a market perspect
Stocks getting slammed the dow falling more than 400 points locking in its worst twoday selloff since brexit the dow hovering around 26,000 these 1 selloffs are a rare occurrence since the last one on september 5, its up a whopping 2 20 . Just in case you got selloff amnesia. Merriamwebster define passeloff as a usually sudden sharp decline in Security Prices accompanied by increased volume of trading. This this be your best chance to buy the dip . Doesnt this feel good . This is something that a lot of people have been asking for. Youve heard the stats, we havent done this since brexit bottom line is the base i think remains very much intact in terms of the Global Economy, in terms of earnings that have been largely extraordinary. An upgrade cycle that would have existed even without a tax deal. Were going to get 12 , 13 ep growth on the s p. Now weve upgraded three or four bucks when well probably upgrade 15 bucks based upon taxes. But do you have to jump in and buy tomorrow i dont t
Trade. Heres a good example. 3m, down 4, 1. 6 . Thats almost 30 points in the dow. Another Big Industrial name. Excuse me, scott, lets move over here and showing you boeing down almost 4 thats another 30 points essentially off the dow, 1 . Another Big Industrial name. Then we get to some very specific stores, this Health Care Story weve been telling you about, the berkshire story and amazon story look what its done to United Health group this is the Biggest Health insurer in the United States dow component. 10 to the downside, thats about 70 points in the Dow Jones Industrial average another specific story mcdonalds down 6 mcdonalds had good earnings beat but they have that big 1 menu there are concerns that cheap menu might drag down growth. Thats another 40 points you put these four stocks together, thats about half the decline in the better than 300 points we saw . It the dow dow is priceweighted. Theres not much positive today, but the market is very defensive in tone. Theres some
Should you buy it . Well have the answer. Varney company, were about to begin. Straight to the big news. Lets look at the scenes by the way. Greece, theres a big pro bureau rally last night and three hours from now. The Greek Parliament will look at the proposal and it will reshape europe one way or another. Hes still there. Ashley webster, an amazing job, ashley. You may have seen it the finish line whats it look like . Im two weeks away from greek citizenship, put it that way. And a handsome match. Listen this proposal will be debated in parliament and it wont happen until 10 p. M. Local time. Right about now, its siesta time, but certainly not with the politicians trying to figure out whether they can propose this deal that the eu creditors will indeed accept. Weve had some interesting news out of the u. S. Treasury secretary jack lew speaking in washington and whats going on with greece. He said quote, i do not roll out damaging spinover impacts on the u. S. If greece exits. Now ex