Well tell you how bad furniture stocks can get on the news that amazon is starting a furniture line first we start with a story captivating wall street and washington, taxes. The gop making a big push for its plan but some members are jumping ship ahead of the vote and some markets are taking notes. Eamon javers has the very latest reporter hi, melissa as we go into the release of the Senate Version of this tax bill later on in the week first is when well get it, we had a wobble earlier today when Mitch Mcconnell who said the bill will not be ready thursday, it will be ready friday, until mcconnells office clarified that he misspoke, it will be out on thursday as planned senator ted cruz earlier today raising some of the issues that are concerning some republican senators here. And this is something to monitor, the state and local Tax Deduction issue is one that cruz said concerns him, because it means that not everybody will get a tax cut. In fact some people on the individual side mi
Im wilfred frost alongside courtney reagan. Good morning to you. Music selections . American music award winners. This is selena gomez, who i am told won for the year. Well update you on who won the awards later. Well check in on the Global Markets. Of course, last week we had a continuation of that postelection rally we saw. The s p was the best performer up just shy a couple percent. The dow, the relative lagger, just in positive territory. We also saw bond yields rise and saw the dollar rise. So the same sort of themes since the election, albeit the Sector Performance was different from week one. Telecom was the best sector. Health care was the worst. The dow is up just slightly by 21 points in the early market. We did see yields rise across the yield curve. We are at highs pretty much since the start of the year, december to the long end of the curve and january highs for the shorter end of the curve, if thats the tenyear note at 2. 31 at the moment. So were just off those highs to
19,000 for the first time today as well. Yeah. I think context is important here, scott. The russell had actually had the toughest time. A lot of that had to do with the huge earnings revisions downward because of energy and industrial and things of that nature. That is now reversed multiples expanding and weve seen the repair being done to forward looking earnings estimates. I just want to make a broader point, and this is really important. On the s p 500 it is not abnormal to make new highs. Its perfectly normal. Going back to inception, the 1950s, the s p 500 has posted 1,100 new closing highs on 5 of all days were making a new high. People looking at that in and of itself as being a sell signal or knee jerk contrarianism in general could be very expensive here. Its important to understand that this is not whacky. Its perfectly normal. Sell signal hitting these new highs. All four major averages, if you include the russell for the First Time Since 1999 or just a si signal this could
The European Central banks in physic and not fix the economy on its own but ready to take more steps to help. Here is ecb president mario draghi. It is necessary to further longss risks of too periods of inflation. The governing council is unanimous in using additional instruments within its mandate. One of those unconventional measures is buying government bonds. That is something that has not been mentioned before, at least not officially. His comments come less of three weeks before the next ecb forecast, which is likely to show weaker outlook for growth and inflation. In jerusalem, and attack described as the deadliest in years. Palestinians armed with guns, knives, and axes killed four israelis in a synagogue. At least six more people were wounded. Police still be two attackers. Jimmy netanyahu says the country will respond with an iron fist. Toyota unveiled a new car that emits only water vapor. It is toyotas bid to compete with teslas electric car. Only a few hundred will be sol
Federal Health Officials rethinking the way theyve been trying to stop the spread of ebola. The problem is, they dont know how a nurse in dallas became infected, even though she was wearing protective year. Here is the cdc director. It doesnt change the fact it is possible to take care of ebola safely. But it does change substantially how we approach it. It looks like north korea has moved to quell all that. Peculation about kim jong un photos published today show the 31yearold north Korean Leader made his first public appearance in six weeks. He is seen walking with a cane. A south korean newspaper reported cam had been hospitalized after getting surgery on both ankles. For the third time in as many years, potential buyer has walked away from tmobile. Offer to buy majority stakes. Tmobile is the smallest of the four major u. S. Wireless carriers. It is the fastestgrowing of the bunch. Board members are divided over whether to sell. Wereday when stocks falling, extending their selloff,