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Policy correspondent. This is more than the fed might have done. Michael last time i remember a 50 basis point cut was 2001 no, 2008. , the initial cut the last time no, 2008,rise the initial cut. The last time we had a surprise rate cut was 2001. When they do it before the markets open, heres the money quote. Coronavirusout the posing evolving risk to economic activity, and say in light of these risks and in support of achieving its maximum employment and price stability goals, the committee decided today to lower the target rates for the federal funds rate by one half 1. 25 . Age point to a major move by the fed today to put a floor under markets and maybe try to get ahead of any damage out there, although, as a lot of people will tell you, it isnt clear that the fed is going to be able to really do a lot with this except help the markets. The statement goes on to say the committee is closely monitoring developments and their implications for the economic outlook, and will use their ....
China trade deal jobless claims fall. And real estate and staples are leading the charge joining us for the hour is stephanie link were both feeling the holiday red but we got a green market. Like a christmas theme were now starting to see internalsin the market thats confirming the stabilization look at the 210 spread, the yield curve is steepening. Nats a good sign asia stocks, they are breaking out. You look at oil up 10 in the past month all of these things are confirming were seeing stabilization and that sets us up for 2020 seeing better growth my biggest question mark does this translate into better earnings i think we will see better earnings which maybe not right away you have pmis globally that are stabilizing. I feel good going into 2020. It has to be an Earnings Growth year all three averages are up half a percent first lets focus on the big stories were watching Kayl ....
I have to start. Well break down the Holiday Retail rush as power lunch starts right now welcome to power lunch. Lets take a look at where we stand. Stocks are shrugging off the d. C. Drama as tyler mentioned. As tyler mentioned, its christmas crunch time, six days makes me nervous too lets check out some of the retailers hitting record highs today. Nike, best buy and target, hitting their highest levels ever were going to talk about some of those names as the hour goes on thank you very much wall street focused on washington today at least a little brit as the house begins to debate impeachment. A vote is expected to take place later this evening, and a man javers has more. You. See the action taking place down on capitol hill, on the other end of pennsylvania avenue from here at the white house, where it is all quiet in the west wing. In fact, surprisingly quiet, no indication of any particularly special meetings today no indica ....
Stock higher from here the Investment Committee is ready to go. Halftime report starts right now. Great to have you u with us on this wednesday, the day before thanksgiving. Our Investment Committee, joe, jon, steve and jenny Stocks Holding steady, but enough for the dow, s p and nasdaq to hit new highs. The nasdaq trying for its 25th record close and its 11th this month alone. Tech, industrials, consumer staps, all hitting record levels we continue to buy into this rally, joe yes, we are in the middle of a melt up. Thats what with we can call this its being powered by significant dispersion on many sectors. Technology, health care, financials, so you can find opportunities in each of these sectors. Are we pulling forward some of the gains from 20 . B potentially, but thats not a concern we have now. We think ....