Looking at the biggest weekly loss since late june the s p both with interday trading. The nasdaq is on track the fourth week in a row on higher prices dow futures indicated down at this poirchlnt looking at yields for the 10year. New this morning, china and the u. S. Have agreed to review the progress of the phase one part of the trade deal well do that in the coming days talks are scheduled from last saturday the review comes as u. S. china ties have deteriorated just summarizing you know that. Thats one of the reasons why. We knew that yes we have seen a series of things that show the relationship has deteriorated if you were to try to put the different segments of the rift, you are up at almost double digits how many Different Things have become bones of contention and the second largest, largest some days economy in the world. A global nightmare we need them, they need us on a certain way it is official taking advantage on what the administration would argue from the markets persp
Do we call him dr. Sunshine. He likes to say dr. Realist. Allergan could be buying a it had a market cap of 90 million and theyre buying it for 1. 7 billion. All because the Bio Tech Companys progress in fighting a certain type of Liver Disease. We will look at what other companies could be takeover targets in that space because of this takeover here. We are keeping an eye on markets. The dow is up 50 . S p is up five. Nasdaq trying to participate. Lets get to our top story. Wells fargo ceos testimony on capitol hill you saw live here on cnbc. Testifying in the wake of the banks fake account scandal. Williford frost is in washington. He has been covering hearings all day today. And the hearing was far tougher for john stumpf summed up with this exchange. Have you returned one nickel of the money you earned while the scam was going on . And the board will i will take that as a no, then. Have you fired a single Senior Executive . I dont mean regional manager or branch manager. Im asking
A policy that on average would hold the inflation rate below 2 . That is not our policy. We want to see the inflation rate get back to 2 as rapidly as we can. But there are lags in the impact of Monetary Policy on the economy and if we waited until inflation was back to 2 and that would probably mean that unemployment had declined well below our estimates of the natural rate and only then did we start to begin to you know, the word tighten Monetary Policy i dont think is really right because we have an immensely accommodate testify Monetary Policy in place. So let me say just to begin to diminish the extraordinary degree of accommodation for Monetary Policy we would be overshoot we would likely overshoot substantially our 2 objective and we might be faced with then having to tighten policy in a way that could be disruptive to the real economy and i dont i dont think thats a desirable way to conduct policy. Gina, bloomberg news. You mentioned earlier that there is always going to be som
Increase buybacks in the new year. That and more tonight on nightly Business Report for this friday, november 22nd. Good evening everybody and welcome. Investors poured more money into stocks driving the dow and s p 500 to new alltime closing highs. For the s p 500 it was a milestone day and settled above 1800 for the first time ever. It is now up seven weeks in a row and now stands 27 , the s p above where it started the year and if the index stays at that level through year end, the annual gain will be the greatest in 15 years. The favorable reading on midwest manufacturing helped stocks today, so did a report on job openings. Here is how the market closed out. The dow up 54 points, good for the 41s record close of the year and the nasdaq added 22 points and less than nine points away from the 4,000 milestone and the s p was up nearly nine to close at 1804. One dow component didnt benefit, were talking about intel. Shares tumbled more than 5 , now just yesterday intel was the best pe
Increase buybacks in the new year. That and more tonight on nightly Business Report for this friday, november 22nd. Good evening everybody and welcome. Investors poured more money into stocks driving the dow and s p 500 to new alltime closing highs. For the s p 500 it was a milestone day and settled above 1800 for the first time ever. It is now up seven weeks in a row and now stands 27 , the s p above where it started the year and if the index stays at that level through year end, the annual gain will be the greatest in 15 years. The favorable reading on midwest manufacturing helped stocks today, so did a report on job openings. Here is how the market closed out. The dow up 54 points, good for the 41s record close of the year and the nasdaq added 22 points and less than nine points away from the 4,000 milestone and the s p was up nearly nine to close at 1804. One dow component didnt benefit, were talking about intel. Shares tumbled more than 5 , now just yesterday intel was the best pe