Page 21 - Point Cut News Today : Breaking News, Live Updates & Top Stories | Vimarsana

And even explore what-if scenarios. where's gate 87? don't get mad. get e*trade and start trading today. welcome back. what should you be watching for when markets open tomorrow morning? cnn's christine romans has your "before the bell" report. >> reporter: hi, ana, this week on wall street it's all about the fed. policymakers meet to decide on a rate cut. investors are certain it's going to happen. wall street puts 0% chance on the federal reserve actually holding rates steady. most predict a quarter point cut. that's 25 basis points. but a good chunk believe it could be 50 basis point. the...

Quarter earnings on wednesday and second quarter gdp, economic growth data, on friday. let's take a look at markets around the world. asian markets closing higher. european markets closing up two. on wall street, futures closing higher. still hoping for an interest rate cut by the federal reserve. european central bank closing higher as well. the s&p 500 and nasdaq both up a little bit. the big question ahead of next week's fed meeting, how big will the rate cut be? jody shelton said she would have pushed for a half point cut. the economy is too strong to justify a bigger cut at this point. ...

Fed will likely do. that often happens since you both cover that beat. what more can you tell us about this? >> well, investors have become very excited about the idea that the federal reserve would cut interest rates at their meeting later this month. initially thinking they might cut by half a percentage point now the market expects a quarter of a percentage point cut. the fact that we have the strong jobs report on friday has caused some investors to question whether they'll actually proceed with the cut. if the economy is still moving in a very strong direction, there's a lot of momentum. ...

The president spoke. here's the headline. fed debate shifts from half point cut to whether to cut at all. ironically this jobs report is so good that now they're like maybe we don't cut interest rates and that drives president trump bananas. so you're going to see this fight continue. there is a correlation. every time you hear him talk about the fed, part of what he's doing is hedging against the idea that if the economy stops helping him as much as it has been helping him that he has someone else lined up to blame. >> which is not totally unusual for presidents to do. it is unusual in recent...

Decline. they're saying now that you can have $10,000 worth of property taxes and/or income taxes sheltered. that's a little tweak there for people wealthy. a little benefit for the wealthy. >> shepard: if you pay -- for instance, you're in a high tax state. texas, connecticut, new york, new jersey -- >> new jersey, california. >> shepard: if you pay a lot of state taxes and local taxes and borough taxes -- >> on and on it goes. >> shepard: is any of that deductible? >> my understanding is the big kahuna here are the income taxes. that is why they added this bit about both of these things in o...