China the stock set to add 100 points to the dow in todays session. There is a countdown to election day 41 days to go, former Vice President joe biden heading to North Carolina today, meanwhile President Trump also getting ready to announce his pick for Justice Ginsburg Supreme Court seat, democrats threatening for pack the court if it is filled before election day. Justice ginsburg will lie in her pose at the Supreme Court building and then on friday she will become the first women in history to lie in state at the u. S. Capitol building, also happening on capitol hill, dr. Fauci will testify before the senate at 10 00 a. M. Eastern and Jerome Powell will testify before the house select subcommittee on the pandemic. And the president expected to speak to veterans and their love and a coward. It is a live action show today and Varney Company starts right now. With your help, your devotion and your drive, we will keep on working, we are going to keep on fighting and we are going to kee
Deal reshaping the storied Investment Bank, Morgan Stanley Ceo James Gorman will join us in the next hour. A mega merger, increases the projection of expenses saved and the guidance which well get into, as well. Giving up control of victorias secret selling a 55 stake to siycamore and stepping down. Well start with the deal of the day. Morgan stanley agreeing to acquire etrade valued at 13 billion. 58. 74 a share three months after schwab and Td Ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their Wealth Management business, jim. It is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. They have a different orientation. They have the easiest site to use. All hand held. Theyre racking up customers i have had robin on a couple times. Theyre the biggest threat
Levee. Tom, this 2024 race, its trumps economy versus bidens in the parttimes and the polls show voters are getting numb to this. Politico reporting more charges from special Council Jack Smith potentially coming against trump. The grand jury meeting on trumps finances and potential fundraising off contesting the 2020 election. This feels like overload, tom. What do you think . Yeah, liz, look at polls. Theres certainly indictment fatigue among republicans and, you know, its just so much. All coming everywhere at once. Jack smith is clearly no bob muller. Hes not a hamlet guy thats ringing his hands wonder hag he should do. Hes being very aggressive and filing multiple charges in multiple jurisdictions. Hes filed superseding indictments and now it sounds like hes poised to launch another round of charges either against former President Trump or against the unindicted coconspirators in the january 6 indictment. Theres a lot going on and were nowhere near the end in my view. Elizabeth jo
Europe up more than 1 , benchmark yields relatively stable around 1. 29 futures point to a strong open as tax reform rolls through congress. We did get the meg amerger, cvs health is buying aetna it is the largest deal. Broadcom taking First Step Towards a hostile takeover of qualcomm 11 nominees to qualcomms board. Futures rallying after the Senate Tax Reform bill was passed Early Saturday Morning. Next up is conferencing the house and Senate Versions of that bill. Republicans expressing optimism, theyll get a final bill to the president s desk by christmas and a lot written over the weekend suggests theres more similarity than differences. I think where we were midday, the report that caused one the suspension of brian ross, and a belief that nothing could happen and the senate could fail, we got a classic tip down 350 points it turned out to be once again an amazing buy opportunity and now, a lot of analysts will be stuck raising numbers i say stuck because theres so much people who
Premature tightening and the fed needs to guard against getting back into the zero or lower bound once it were to lift off. He says the fed should not repeat mistakes. Once the said does lift off, evans saying the path of increases should be kept, quote, shallow for some time. Even says the fed could allow, quote, modest overshooting of inflation, letting the inflation rate run above that two percent target for some time. Inflation breakout, he says, is not likely in todays economic environment in part because theres a good deal of slack that remains in the labor market and he sees that in wage growth being modest and in the number of involuntary parttime workers who had says keep a lid on wage growth. Charles evans, a dove sounding little more dovish in the last several days while the hawks, tyler, sound a little more hawkish. Back to you. Steve, ill take it. Before we bring in bob to talk about this, heres a check on the market reaction. We gained a little bit on those remarks, not a