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Continues to face criticism journalistlling of jamaal khashoggi. The Trump Administration is wideranging Immigration Enforcement arrests last next month. Those raids would take place in cities and jurisdictions that have adopted socalled sanctuary policies. The move is seen as amplifying the president s Law Order Campaign message. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. It is 1 00 p. M. In new york. I am vonnie quinn. Welcome to bloomberg markets. Stocks are climbing today as lawmakers in the white house appear closer to reaching a stimulus deal, even as a bitter president ial debate raises concerns about a cha ....
Not to have to file, or pay federal income tax. But one of the things ive not really heard anybody address, we talked about in here the need for the minimum wage to be raised. And when there was an article written recently that indicated for an individual who just accepts the available federal welfare payments, they may be looking at 1,700 a month take home whereas under the current minimum wage its about 1,200 takehome. Well, the incentive there is obviously not to work. But i know my friends at heritage have encouraged as a solution lowering the minimum wage. Obviously, that would even increase the disparity between what you take home if you dont work and what you take home if you do work. If you lowered the minimum wage. So thats obviously not going to fix the problem there. But if the minimum wage is raised in puerto rico, since as my friend from californias indicated they have a higher minimum wage, then people would be tempted to go from puerto rico to california to get those hig ....
This legislation as is. Wall street journal and bloomberg have also issued editorials supporting this legislation and saying that it is not going to have a negative impact in the municipal markets at large. To the contrary, if we dont do anything, that could have an impact in the markets because the bonds are held by thousands of investors, institutional and individual, all over america. And we need to get the house in order. Now, in terms of the status of puerto rico, again, i have to say this is not going to set a precedent for the state. I hate that that is the case because i would love puerto rico to be a state. But puerto rico is a territory. And as a territory, we can do we can treat puerto rico differently than the states so long as we have a rational basis for doing so. That has been the position of the u. S. Supreme court for ages now. When we talk about constitutional debt coming from puerto rico its not the same as constitutional debt coming from the states because puerto ri ....
Persistent low inflation we have seen. Again, the number, 91. 2 better than had been estimated. So, what are we seeing of the stock market in the meantime, we had been seen a rally already. Nothing in the number to dissuade us from the rally, bouncing back from yesterdays deutschebank induced declines. We will get more on deutsche you in a few moments. All three major averages are trading higher. If you look at the recovery we have seen, you can see it in the futures overnight. Yesterday we had a slump in stocks. That slump continued until the Early Morning hours here, and then we have seen this turnaround in the u. S. Futures. Also, it is a relatively broad rally. Most of the groups in the s p 500 are higher with the exception of real estate. Energy leading the gains. Consumer staples, financials, telecoms a mixed bag of the types of groups higher. Financials bouncing back, but that we have defensive groups, cyclical groups a mix ....
Correspondent Steve Liesman will go through the recent statements from med members and say what it all adds up to concerning the september 17 decision now just seven trading days away. Mandy is live at the New York Stock Exchange with mary thompson. Mandy, i said im going to let this thing grow until the market turns around, so its got about three hours left. Is that why they turned off the lights so you could come out and big reveal, the big spot light on the hair . Love it. Looks great. All right. Good to see you. Welcome back. Good to see you as well. Stocks in rally mode just off the highs of the day and nonetheless up by 282 points with tech and health care leading the gains. Mary thompson joins me on the New York Stock Exchange floor. Mary, just a moment ago im sure you just heard josh brown saying ....