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Apr 11, 2024
04/24
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gerri willis here in new york, walking through the stock market story, breitbart's john carney and diseesteve forbes waiting in the wings with details. and we have i think at the beginning we will welcome back texas senator ted cruz. but we don't have him quite yet, we have an all points bulletin out for him. we'll see if we can get edward lawrence, it not i'll do the thing. hold on. turns out now. all right mr. cruz. we're up 19%. up 19% for the three years and a quarter under joe biden. and something like 6 1/2% at annual rate, that is highest inflation rate since 1983. that means, 41 years ago. and real wages and real earnings are falling again according to newest calculations. so, did we get senator cruz? almost locked in, his comment on that. because, he is a smart fellow, he went to princeton and harvard law school, me must have learned economics, where are you mr. cruz? there you are, i want to see him, is he good, there senatorred to cruz. ted cruz. >> larry how are you. larry: in all seriousness, i found my cpi sheet. this is the third month in a row as you problem know -- probably k
gerri willis here in new york, walking through the stock market story, breitbart's john carney and diseesteve forbes waiting in the wings with details. and we have i think at the beginning we will welcome back texas senator ted cruz. but we don't have him quite yet, we have an all points bulletin out for him. we'll see if we can get edward lawrence, it not i'll do the thing. hold on. turns out now. all right mr. cruz. we're up 19%. up 19% for the three years and a quarter under joe biden. and...
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Apr 10, 2024
04/24
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larry: gerri willis, thank you very much. joining us john carney "breitbarts" economics editor and coauthor. larry: steve forbes, maybe the most famous, distinguished commodity price person in america, that's you, commodities rising significantly last three months. gold rising significantly the last three months. not only does that stuff bleed into the indexes but it shows weakness in the dollar which i learned from steve forbes and his book is the ultimate inflation cause. fair, right? >> yes. rising prices are a symptom of inflation. it's not the cause. weakening of currency is the cause. that is something the fed can control without trashing the economy raising interest rates. all this phillips curve -- they're giving us unnecessary austerity but at the same time they have gummed up the credit markets. you're going to see mortgage rates start to go up again. they should back off to let the economy recover by itself and announce explicitly their goal is stable value for the dollar. they will look at commodity prices which a
larry: gerri willis, thank you very much. joining us john carney "breitbarts" economics editor and coauthor. larry: steve forbes, maybe the most famous, distinguished commodity price person in america, that's you, commodities rising significantly last three months. gold rising significantly the last three months. not only does that stuff bleed into the indexes but it shows weakness in the dollar which i learned from steve forbes and his book is the ultimate inflation cause. fair,...
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Apr 26, 2024
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david: i'm joined now any gerri willis. who's joining the tech board? >> everyone, nvidia, google, microsoft and other tech executive officials in a new federal advisory board to focus on ai in critical infrastructure like you name it. the electric grid, water pumps, et cetera. this is according to a report in "the wall street journal" and part of a push to protect the economy and public health from ai-powered threats. they'll work with homeland security to oversee power grids, transportation services, manufacturing plants to name a few. for decades, the u.s. government avoided regulating the tech industry and in some cases because they don't want to stifle innovation; right? growing concerns over pre-fitting measures seizure see disorders -- privacy, antitrust and now they've prompted action. big tech reported spending more than ever on artificial intelligence despite the result, ai is getting more expensive for big tech, microsoft announcing $14 billion in cap ex-spending for the quarter and more than the company spends for an entire year on cap x. cf
david: i'm joined now any gerri willis. who's joining the tech board? >> everyone, nvidia, google, microsoft and other tech executive officials in a new federal advisory board to focus on ai in critical infrastructure like you name it. the electric grid, water pumps, et cetera. this is according to a report in "the wall street journal" and part of a push to protect the economy and public health from ai-powered threats. they'll work with homeland security to oversee power grids,...
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our expert gerri willis, standing by with the whole story. gerri, what can you tell us? >> reporter: larry, it was a terrible day, worst in a year. stocks turning negative, crashing, oil prices spiking that followed a consensus call between president joe biden and benjamin netanyahu. the dow closing down 530 points. s&p 500 off 64. the nasdaq off 228. all of this 1% and more. that was an 800 point swing intraday for the dow. biden calling for an immediate cease-fire in gaza and demanding netanyahu take immediate steps to address civilian harm, humanitarian suffering and safety of workers, i quote the president. reports iran was threatening a strike on israel in the next 48 hours, possibly by drone. also unsettled traders and markets raising concerns of an escalation of hostility by iran which previously relied on proxies to attack israel. on those worries west texas intermediate hitting the highest level since october 20th, settling at 86.50 a gallon. that is up 1.4%. brent moved through psych lodgeally level of 90 bucks a barrel, settling at 91.30. fed governors were ta
our expert gerri willis, standing by with the whole story. gerri, what can you tell us? >> reporter: larry, it was a terrible day, worst in a year. stocks turning negative, crashing, oil prices spiking that followed a consensus call between president joe biden and benjamin netanyahu. the dow closing down 530 points. s&p 500 off 64. the nasdaq off 228. all of this 1% and more. that was an 800 point swing intraday for the dow. biden calling for an immediate cease-fire in gaza and...
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first a quick update on the stock market from our expert gerri willis. gerri, there were no bears. now maybe there are a couple. >> yes, now we have a few bears. it was a selloff for stocks the second day in a row as markets weighed the outlook for a fed rate cut. the bond yields climbed. the dow down 395 points, the s&p down 37. as you can see the nasdaq down 156. big tech and health care leading the way lower it was an economic report issued yesterday that led to today's selloff, a survey of purchasing managers. the ism manufacturing index came in hotter than expected, indicating a more robust economy than traders had thought, dashing expectations for early and frequent rate cuts. the futures market now pricing in a 59% chance for a rate cut in june. that is down. bond yields jumped. the 10-year treasury yield topping 4.4%, while the two-year soared above 4.7%. crude oil cracking $85 a barrel to hit the highest levels since october. if you're looking for good news, shares of trump's media company djt rising 6% after a selloff yesterday. larry. >> how about that, gerri willis, tha
first a quick update on the stock market from our expert gerri willis. gerri, there were no bears. now maybe there are a couple. >> yes, now we have a few bears. it was a selloff for stocks the second day in a row as markets weighed the outlook for a fed rate cut. the bond yields climbed. the dow down 395 points, the s&p down 37. as you can see the nasdaq down 156. big tech and health care leading the way lower it was an economic report issued yesterday that led to today's selloff, a...
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gerri willis is about to tell you, that is next. don't go away. ♪ it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts. [music playing] tiffany: my daughter is mila. she is 19 months old. she is a little ray of sunshine. one of the happiest babies you'll probably ever meet. [giggles] children with down syndrome typically have a higher risk for developing acute myeloid leukemia, or just leukemia in general. and here we are. marlo thomas: st. jude children's research hospital works day after day to find cures and save the lives of children with cancer and other life-threatening diseases. tiffany: she was referred to st. jude at 11 months. they knew what to do as soon as they got her diagnosis. they already had her treatment plan drawn out. and they were like, this is what we're going to do. this is how long it's going to take. this is how long in between. this place is like a f
gerri willis is about to tell you, that is next. don't go away. ♪ it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts. [music playing] tiffany: my daughter is mila. she is 19 months old. she is a little ray of sunshine. one of the happiest babies you'll probably ever meet. [giggles] children with down...
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Apr 1, 2024
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gerri willis' got more on this. how hard has a gotten? >> you have to have a six-figure income to do it. are you ready for this? the average home buyer needs to make over $100,000 to for the average home where the required salary to make that purchase has jumped 46% in just 4 years. home buyers only needed to make $76,000 back in 2020. the issue widespread. you need a six-figure salary to buy the average home within 23 states including the district of columbia. 4 years ago, that number was just 6. mortgage have played a small role in t the bomb. kept pace with the needed salary. the average home at 42% sitting at $412,000. even though the housing market may be pricing people out, people shouldn't be too quick to think that renting is the solution since president biden took office, rent is up 21%. where do you need to make the most to buy the average home? you guessed it, california tops the list. you need almost $200,000 to buy the average home, followed by hawaii, massachusetts, and washington state. the cheapest state in the nation, mis
gerri willis' got more on this. how hard has a gotten? >> you have to have a six-figure income to do it. are you ready for this? the average home buyer needs to make over $100,000 to for the average home where the required salary to make that purchase has jumped 46% in just 4 years. home buyers only needed to make $76,000 back in 2020. the issue widespread. you need a six-figure salary to buy the average home within 23 states including the district of columbia. 4 years ago, that number...
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Apr 13, 2024
04/24
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gerri willis. and you would be started how much average americans, state by state by state by state in taxes over the course of their lifetime. are you ready for in? you better be. every day, veteran homeowners are calling newday to pay off credit card debt that's been piling up. many were shocked to learn they've been paying 22% on their credit card balances. and if payments were late, as much as 30%. that's over three times the interest rate on a newday 100 va home loan. pay off high rate credit cards and other debt with a lower rate newday home loan. save hundreds a month, thousands a year. >> all right. you're probably worried about taxes and maybe some of you haven't done your taxes and we have a great accountant for you and for a very, very high fee he can help you out, but the one thing i love about dan is he crunches some of the numbers and numbers that we pay in taxes over a lifetime. on average, half a million. and in some high state taxes where i'm from in new jersey, that's just what we
gerri willis. and you would be started how much average americans, state by state by state by state in taxes over the course of their lifetime. are you ready for in? you better be. every day, veteran homeowners are calling newday to pay off credit card debt that's been piling up. many were shocked to learn they've been paying 22% on their credit card balances. and if payments were late, as much as 30%. that's over three times the interest rate on a newday 100 va home loan. pay off high rate...
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gerri willis, thank you ever so much. we appreciate it. for more on this, let's bring in our big money co-host, taylor rigs, steve moore and kevin youn cramer. thank you all for coming back on. we appreciate it. let me talk to the person in the building that probably understands the market best, and that is the great taylor rigs. taylor, by the way, i dhiengt we're going toco have a -- i dot think we're going to have a rate cut this year. that's my view. i think markets are pricing it wrong. what's interesting is open market rates, the bond is up, 10 year up to 440, that's a lot and then you've got commodity booming, crb, gold booming, oil, west texas 8 85 but brent almost 90 buckst . you've got inflationary signs flirting around. what do you make of it. >> and a decent economy as well. usually when there's an equity market selloff, you think flight to quality. but today was the exact opposite. yields are opp rising. it's all about the rate cuts or maybe not rate cuts like we've been talking about. m soay they came out and said a he risk i
gerri willis, thank you ever so much. we appreciate it. for more on this, let's bring in our big money co-host, taylor rigs, steve moore and kevin youn cramer. thank you all for coming back on. we appreciate it. let me talk to the person in the building that probably understands the market best, and that is the great taylor rigs. taylor, by the way, i dhiengt we're going toco have a -- i dot think we're going to have a rate cut this year. that's my view. i think markets are pricing it wrong....
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Apr 2, 2024
04/24
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it's true in 22 states across the country, as fox's gerri willis shows us, that number has more than tripled from just four years ago. >> it's harder than ever for prospective homeowners to buy a house. a new bank rate study shows that the required salary to purchase the average home is now over 110,000. that's up 46% in just four years. home buyers only needed to make $76,000 back in 2020, and the issue is widespread. you now need a six figure salary to buy the average home in 23 states, including the district of columbia. four years ago, that number was six. mortgage rates have played a small role in the bump, but home prices have, by and large, kept pace with the needed salary to buy them. the average home nationwide is up 42, sitting at 412,000. so where do you need to make the most to buy the average home? california tops the list. you need almost $200,000 to buy the average home. there followed by hawaii, washington, d.c, massachusetts and washington state. the flip side, least expensive states start with mississippi and includes ohio, arkansas, indiana and kentucky. now, even
it's true in 22 states across the country, as fox's gerri willis shows us, that number has more than tripled from just four years ago. >> it's harder than ever for prospective homeowners to buy a house. a new bank rate study shows that the required salary to purchase the average home is now over 110,000. that's up 46% in just four years. home buyers only needed to make $76,000 back in 2020, and the issue is widespread. you now need a six figure salary to buy the average home in 23 states,...
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Apr 27, 2024
04/24
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gerri willis fox business in san francisco based williams-sonoma, has been ordered to pay $3 million for falsely claiming that some of its products were made in the usa. >> the federal trade commission sued williams-sonoma back in 2020 after they found the company had been advertising. some products were made in america when they were actually manufactured in other countries like china. the ftc says. the settlement marks the largest ever civil penalty seen in a made in usa case. >> well, barry weather a cool and blustery friday out there. we're going to warm things up a little bit as we head into your weekend, and we'll have the update coming up. >> let's go to ktvu. alex savidge now with a look at some of the stories we're working on for west coast rapid seven right here on ktvu. all right, kristina, thank you. >> coming up tonight at 7:00, three children under the age of two overdosed on fentanyl in washington. and one of them has died tonight on west coast rap. we'll take a closer look at the problem of children being exposed to the powerful drug. with these kinds of cases growing
gerri willis fox business in san francisco based williams-sonoma, has been ordered to pay $3 million for falsely claiming that some of its products were made in the usa. >> the federal trade commission sued williams-sonoma back in 2020 after they found the company had been advertising. some products were made in america when they were actually manufactured in other countries like china. the ftc says. the settlement marks the largest ever civil penalty seen in a made in usa case. >>...
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left east go back to gerri willis. >> reporter: that is a great conversation. charles, you mentioned jay powell coming to the rescue at the top of the show, right? while wall street cheered there was some hand-wringing over some of the fed chair's observations. i will give you the jay powell quote and let the data give the rebuttal. powell said monetary policy is tight, but look at this, financial conditions are looser now than before they were when the fed started hiking rates. powell said this, too soon, it is too soon to say if recent inflation data is more than a bump. look, this couldn't be clearer, friends, inflation data has been going up since october. powell also said inflation wasn't strictly from demand overheating but look at the government goosing demand from the fed printing other central banks. here is the other, this is us. this is the rest of the world. we are definitely outprinting them. and the last one, powell says i do think monetary poll is working. however even darden restaurants is seeing lower income. diners stay at home. they're saying
left east go back to gerri willis. >> reporter: that is a great conversation. charles, you mentioned jay powell coming to the rescue at the top of the show, right? while wall street cheered there was some hand-wringing over some of the fed chair's observations. i will give you the jay powell quote and let the data give the rebuttal. powell said monetary policy is tight, but look at this, financial conditions are looser now than before they were when the fed started hiking rates. powell...
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Apr 27, 2024
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gerri willis fox business. >> now, despite that inflation news it was a big friday on wall street. the dow was up 153 points. the nasdaq gained 316 for its best week since november , and the s&p jumped 51 points. stocks finished the week on a high note as a result of positive results from ai competitors microsoft and alphabet. >> secretary of state antony blinken wrapped up his trip to china today with a sit down with president xi jinping. blinken raised a number of concerns, including artificial intelligence and chemicals, to make fentanyl originating from china. the main point of the trip was to warn china against support for russia in its war against ukraine. communication between the us and china appears to be getting better, but some white house critics think it is all for show. >> this is talk for the sake of talk and frankly, i think the biden administration is just hoping they can get through the next handful of months without something exploding in asia. in the same way it has in the middle east and in europe. >> the potential tiktok ban in the us did not come up between t
gerri willis fox business. >> now, despite that inflation news it was a big friday on wall street. the dow was up 153 points. the nasdaq gained 316 for its best week since november , and the s&p jumped 51 points. stocks finished the week on a high note as a result of positive results from ai competitors microsoft and alphabet. >> secretary of state antony blinken wrapped up his trip to china today with a sit down with president xi jinping. blinken raised a number of concerns,...
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Apr 12, 2024
04/24
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gerri will willis, the best ofe best. thanks ever so much. with us now is kevin hassett, former chair of council of economic advisers. distinguished fellow at hoover institutions and author of most important book of the century called drift stopping socialism. import price up 0.4 in march after 0.3 in february and 0.7 in january. you know all about inflation over the past three months and c pi about 4.5% and annual array. what's going on here, kevin hassett? >> right, well it's going e xactly the way you and i have been saying it would go for the last two years. i wept back to september 2022 and talking about ten steps to stagflation, and we're stuck at step 8. which i just wrote about in natural review and price inflation and wage inflation stick together, price inflation doesn't go below wage inflation and right now they're both r unning between 4.5 and 5%. way above the fed's target. and i think that in january, i remember once you asked me on the show, kevin, any rate cut this year and i said no. inflation is accelerating so much and unce
gerri will willis, the best ofe best. thanks ever so much. with us now is kevin hassett, former chair of council of economic advisers. distinguished fellow at hoover institutions and author of most important book of the century called drift stopping socialism. import price up 0.4 in march after 0.3 in february and 0.7 in january. you know all about inflation over the past three months and c pi about 4.5% and annual array. what's going on here, kevin hassett? >> right, well it's going e...
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Apr 22, 2024
04/24
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willis with the story. gerri: yes, maria very sad story. police now saying chicago officer was still in uniform gunned down on his way home from work, just before 3:00 a.m. yesterday. the atf cook county sheriffs office joined the search efforts, but no suspects have been named, now 30-year-old officer was found in street near his home with several gunshot wounds, taken to nearby hospital where he was pronounced dead a short time later, police say officer's car was stolen investigating whether a carjacking could have led to shootings, tomorrow would have been his 31st birthday, good news here look at this group of people in minnesota jumping into save a driver trapped inside a burning car, the car crashed into a light pole before bursting into flames, the group says they heard driver screaming for help rushed to save him eventual fee a worker was able to be able shatter window nobody was seriously hurt talks between salesforce, data management software company reportedly fizzling out "the wall street journa
willis with the story. gerri: yes, maria very sad story. police now saying chicago officer was still in uniform gunned down on his way home from work, just before 3:00 a.m. yesterday. the atf cook county sheriffs office joined the search efforts, but no suspects have been named, now 30-year-old officer was found in street near his home with several gunshot wounds, taken to nearby hospital where he was pronounced dead a short time later, police say officer's car was stolen investigating whether...
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Apr 23, 2024
04/24
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gerri willis was some numbers. >> solid numbers, jetblue beating expectations of a loss of 52 cents a share showing a loss of 43 cents a share still negative revenue committed at two-point to 1 billion right on the money, shares down this morning pretty substantially. 8% in premarket trading. gm a double beat on the bottom and top line we see eps senate 262 that the actual number of sharon eps expectation of 215. a handy beat, revenue higher at 43.01 billion compared to 41.92 billion. that stock up 5%. another news primary day in pennsylvania, voters in the keystone state will cast their ballot in the last battleground state ahead of the november election, presumptive nominee donald trump will appear on the gop ballot with 67 delegates at stake while president biden democrat ticket has 159 delegates at stake. another race to watch the u.s. senate between incumbent democrat bob casey and republican david mccormick who are both under both running this could very well decide the control of the upper chamber, voters choosing the house candidates in district seven and eight and polls will
gerri willis was some numbers. >> solid numbers, jetblue beating expectations of a loss of 52 cents a share showing a loss of 43 cents a share still negative revenue committed at two-point to 1 billion right on the money, shares down this morning pretty substantially. 8% in premarket trading. gm a double beat on the bottom and top line we see eps senate 262 that the actual number of sharon eps expectation of 215. a handy beat, revenue higher at 43.01 billion compared to 41.92 billion....
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larry: how about that gerri willis, we appreciate it. we bring in big money co-host taylor riggs, steve moore, and north dakota senator kevin kramer, thank you for coming back on. let me talk to the person in the building that probably understands market best, that is great taylor riggs, by the way, i don't think we'll have a opposite. yields are rising all about rate cuts. or maybe not. rate cuts like we have been talking about. the fed loretta said a huge risk is cutting rates too soon it could restoke some of the big inflationary measures that are underway. i think that inflation is a big issue. larry: kevin said it well last week. too much fed yapping. do we need mrs. mester to tell us what the futures market is saying. it is what it is. we don't want to act too soon but really. was there value added from what she said? i don't know if she said it on cnbc, really. >> j. powell was asked this question friday. the markets were closed, they were asked are true transparent, he said i don't think so, but sometimes it can be confusing, the
larry: how about that gerri willis, we appreciate it. we bring in big money co-host taylor riggs, steve moore, and north dakota senator kevin kramer, thank you for coming back on. let me talk to the person in the building that probably understands market best, that is great taylor riggs, by the way, i don't think we'll have a opposite. yields are rising all about rate cuts. or maybe not. rate cuts like we have been talking about. the fed loretta said a huge risk is cutting rates too soon it...
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stock market going down, gerri willis made i thought interesting connects, i don't think if this is about the economy but it could be fears in middle east. >> it is interesting, bond yields came down and stock markets down, we have a correlations. today was opposite. oil was up but not that much, it was you -- 87 it has been up, at 75, and now over 85. i think that there is permanent instability in most middle east, it is heightened. and i don't think that markets know what to make it of, reminding people, that markets went up the week after that horrific hamas attack, markets have never known thousand price middle middle eastern instability. larry: all right. art laffer, greg ip, a good reporter, what is wrong with the economy, he flames people, you not the data, said joe biden should have higher approval ratings because the economy is very good. and the people out there, who keep polling that the economy is not good, they are dumb little bumble bees, we should not listen to them, who is right and who is wrong? >> i think article is wrong. in saying the people that are at fall. not the e
stock market going down, gerri willis made i thought interesting connects, i don't think if this is about the economy but it could be fears in middle east. >> it is interesting, bond yields came down and stock markets down, we have a correlations. today was opposite. oil was up but not that much, it was you -- 87 it has been up, at 75, and now over 85. i think that there is permanent instability in most middle east, it is heightened. and i don't think that markets know what to make it of,...
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Apr 25, 2024
04/24
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our own gerry willis is standing by with some more. not so good prec. >> no, not so good. if you want to know where at market rates are going, interest rates are not going to get cut anytime soon after today. but let's start with those numbers from gdp. as we take a look at this, the answer to your question yes, the markets realize rates may not come down soon but let's start with today's close, stocks down but not the lives of their day. the dow was down three to 35 points it is worse it was down 700 points the esp down 23 nasdaq down 100. the selloff started with the release of the first quarter gdp as larry said which came well below estimates at 2.4% 1.6%. worst inflation was hotter than inspect >> with consumer prices increasing at a 3.4% pace. that is well above the previous quarters of 1.8% advance. all income growth shrunk prices are high classic definition of a stagflation for the trader saying has them concerned. meanwhile the chances of a rate cut in july are down to 25% and june forget about it as they say. adding to the worries met up lunch 11% of the social m
our own gerry willis is standing by with some more. not so good prec. >> no, not so good. if you want to know where at market rates are going, interest rates are not going to get cut anytime soon after today. but let's start with those numbers from gdp. as we take a look at this, the answer to your question yes, the markets realize rates may not come down soon but let's start with today's close, stocks down but not the lives of their day. the dow was down three to 35 points it is worse it...
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Apr 22, 2024
04/24
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gerri willis with details now. >> the golden state governor telling former white house press secretary jen psaki that overindulgence following the trump trial may have unintended consequences for the democrats. listen. >> while we're focusing on him i worry that he has a slight advantage and so i'm a little concerned about the over-indulgence around the day-to-day. i get it. i totally get it. the consequential nature of a criminal trial is profound and outsize in some respects but not more outsize than democracy. >> he went on to he say less is more, implying the former president wants the spotlight on him at all times. opening arguments in the hush money trial expected later this morning. elsewhere in california, one person is under arrest for allegedly breaking into the home of logs angeles mayor karen bass, happening at the official mermayoral resident early yestey morning. they were promptly arrested at the scene. the mayor's family was home at the time. no one thankfully was injured. and tesla cutting prices to three of its models in the u.s. including its top selling electric veh
gerri willis with details now. >> the golden state governor telling former white house press secretary jen psaki that overindulgence following the trump trial may have unintended consequences for the democrats. listen. >> while we're focusing on him i worry that he has a slight advantage and so i'm a little concerned about the over-indulgence around the day-to-day. i get it. i totally get it. the consequential nature of a criminal trial is profound and outsize in some respects but...
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Apr 25, 2024
04/24
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our own gerri willis standing by with more. gerri, not so good. >> reporter: not so good, larry. if you want to know where market rates are going, interest rates they will not get cut anytime soon after today but let's start with those numbers from gdp, right? as we take a look at this, the answer to your question is yes, the market realized rates may not come down soon. let's start with today's close. stocks down, not at the lows of the day. the dow down 375 points. at its worst it was down 700 points. the s&p closing down 23, the nasdaq down 100. the selloff started with the release of the first quarter gdp as larry said, which came in well below consensus estimates of 2.4%, 1.6%. worse inflation was hotter than expected with consumer prices increasing at a 3.4% pace. that is well above previous quarters, 1.8% advance. all in, growth shrunk and prices are high. a classic definition stagflation traders say has them concerned. rate cuts in july are down to 25% in june. well forget about it as they say. adding to the worries meta plunged 11% after the social media giant issued lig
our own gerri willis standing by with more. gerri, not so good. >> reporter: not so good, larry. if you want to know where market rates are going, interest rates they will not get cut anytime soon after today but let's start with those numbers from gdp, right? as we take a look at this, the answer to your question is yes, the market realized rates may not come down soon. let's start with today's close. stocks down, not at the lows of the day. the dow down 375 points. at its worst it was...
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gerri willis is here to break it all down. gerri? >> reporter: just a few headlines i want to go over. somebody calls him a pugnacious neoliberal? okay. here are the money headlines, really. he calls folks too bullish right now which i thought was interesting and everybody's keying off of this headline, interest rates could hit 8% or more, people. he is warning about wars. so this is very big. he talks about politics impeding smart economic decisions. that would never happen now, would it? talking about liquified natural gas, the projects were delayed mainly for political reasons to pacify those who believe gas is bad and gas and oil projects simply should be stopped. this is not only wrong but he says enormously naive. now on artificial intelligence, something else we're interested in, his firm, his company boasted more than 2000 a.i. learning machine experts and data scientists. in addition jpmorgan created a new position called chief data and analytics officer. he likened a.i.' potential impact to the steam engine and the technolo
gerri willis is here to break it all down. gerri? >> reporter: just a few headlines i want to go over. somebody calls him a pugnacious neoliberal? okay. here are the money headlines, really. he calls folks too bullish right now which i thought was interesting and everybody's keying off of this headline, interest rates could hit 8% or more, people. he is warning about wars. so this is very big. he talks about politics impeding smart economic decisions. that would never happen now, would...
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Apr 24, 2024
04/24
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maria: pennsylvania primary election results committed last night, gerri willis with the details. >> good morning president joe biden secured enough delegation to win pennsylvania democratic primary but voters set a strong message to the president by casting nearly 50000 right in ballot in the battleground state that could determine the outcome of the general election democrats launching a campaign urging voters to write an uncommitted protest biden's handling of the israel hamas war in the six counties with the most registered democrats writing votes more than double the sheer compared to the 2020 primary. meanwhile pro-palestinian congresswoman somberly survived a primary challenge against pro israel bobby patel, the first squad member to face a primary challenge this election cycle. trump backed republican dave mccormick will face democratic senator bob casey and the race that could decide who controls upper chamber, it could take a few days for official results to trickle in. the justice department agreed to pay $139 million to settle 100 claims from victims of disgrace sports ph
maria: pennsylvania primary election results committed last night, gerri willis with the details. >> good morning president joe biden secured enough delegation to win pennsylvania democratic primary but voters set a strong message to the president by casting nearly 50000 right in ballot in the battleground state that could determine the outcome of the general election democrats launching a campaign urging voters to write an uncommitted protest biden's handling of the israel hamas war in...
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Apr 25, 2024
04/24
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let's go live to gerri willis with more on this report. not good news, gerri. >> that's right, kelly. the housing market showing signs of life in mamplet one of the few forward-looking indicators for the housing market called pending home sales. that jumped 3.4% in march, more than double the level of the previous month, and that may be because home buyers frustrated by the lack of inventory of existing homes are turning to new homes as the spring market gets underway. listen. >> they're not seeing a lot in the existing home market for them to look at. so when they go look at a new home subdivision, they're going to find, they're e going to find a home that hay get to customize themselves, right? if they're going to find the options of picking light fix cantures and countertops. >> reporter: in fact, the proportion of new home sales is increasing from a historic e range of 10-12% of the total market to 30-40. credit builders goosing sales by buying down mortgage rates and building smaller homes for a near 9% jump in new home sales in march
let's go live to gerri willis with more on this report. not good news, gerri. >> that's right, kelly. the housing market showing signs of life in mamplet one of the few forward-looking indicators for the housing market called pending home sales. that jumped 3.4% in march, more than double the level of the previous month, and that may be because home buyers frustrated by the lack of inventory of existing homes are turning to new homes as the spring market gets underway. listen. >>...
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Apr 23, 2024
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gerri willis with the details. >> jurors could not reach a verdict. he was charged with second degree murder for the killing of a mexican national who illegally crossed the border and made it onto his ranch. kelly pled not guilty to the killing, main a containing he only fired warning shots with people on the property. and fashion retailer express filing for chapter 11 bankruptcy, announcing plans to close more than 100 stores beginning to dap. today.the ceo calling this an important step that will strengthen the company's financial initiative. 99-cents only announced it would shutter all 371 locations. and last month crafts retailer joanne filed for chapter 11 bankruptcy. it's a trend. anti-israeli protester harassing actor alec baldwin at a coffee shop in new york city, demanding he say free palestine on camera. watch what happens. >> one time, just one time, please. and i'll leave you alone. free palestine. [bleep] israel. [bleep] zionism. please say it, one time. >> she refused to leave when asked by employees, shouting at the actor, asking why di
gerri willis with the details. >> jurors could not reach a verdict. he was charged with second degree murder for the killing of a mexican national who illegally crossed the border and made it onto his ranch. kelly pled not guilty to the killing, main a containing he only fired warning shots with people on the property. and fashion retailer express filing for chapter 11 bankruptcy, announcing plans to close more than 100 stores beginning to dap. today.the ceo calling this an important step...
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Apr 24, 2024
04/24
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willis. >> the top line up beat, this is important durable goods at key measure of industrial activity 2.6% increase of expectation of 2.5% that is a beat, when you look at transportation in expectation of pretense of 8% it was 0-point to percent, the court right on the money 0-point to percent inching up for the quarter this is something that the federal reserve will be watching. back to you. maria: thank you so much, your thoughts on the durable goods order is in line with expectation although the dow is positive ten points. >> the one good thing about this market, interest rates are rising, people are looking at the fact interest rates off the table anytime soon maybe for the year, the one thing that is keeping the market solid is the gdp growth is not altered is still running to an a half plus% we looked in the last week we've got over the last 40 years and data and generally when inflation is the holding steady and if gdp does not drop, those are the two drivers and if inflation is rising in gdp we are in trouble and inflation is falling in gdp is constantly that is a good market,
willis. >> the top line up beat, this is important durable goods at key measure of industrial activity 2.6% increase of expectation of 2.5% that is a beat, when you look at transportation in expectation of pretense of 8% it was 0-point to percent, the court right on the money 0-point to percent inching up for the quarter this is something that the federal reserve will be watching. back to you. maria: thank you so much, your thoughts on the durable goods order is in line with expectation...
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Apr 24, 2024
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gerri willis with details now. >> good morning, maria. boeing reporting a double beat, earnings loss, less than expected, 113 eps with expectation of loss of 1.76 -- pardon me, against an a expectation of a loss of $1.76. revenue beating estimates, $16.57 billion, commercial airplane deliveries down 36%. boeing's ceo saying lower max production will slow the plane maker's recovery. some other headlines we're watching this morning, a swiss air jet nearly crashing this morning. pardon me. so those boeing earnings of course that comes of the heels of just an incredible number of engineering issues. maria: did you see the boeing earnings? because when we are looking at a stock this morning that is honk the most actively traded it's up 4% and yet the company lost money. maybe a it didn't lose as much money as they thought it would lose. >> that's a reasonable take. revenue actually was stronger than expected. 16.6 billion. that's a lot of money coming through the door. the issue is the cash flow is negative so they've got a cash burn and yet g
gerri willis with details now. >> good morning, maria. boeing reporting a double beat, earnings loss, less than expected, 113 eps with expectation of loss of 1.76 -- pardon me, against an a expectation of a loss of $1.76. revenue beating estimates, $16.57 billion, commercial airplane deliveries down 36%. boeing's ceo saying lower max production will slow the plane maker's recovery. some other headlines we're watching this morning, a swiss air jet nearly crashing this morning. pardon me....
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Apr 25, 2024
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jer by will -- gerri willis joining me now. >> reporter: luck, negotiation room, new home sales, new homes, new construction market is where you want to look. look are, ohm buyers frustrated by the lack of invenn tore in existing homes are turning to new homes as is spring market gets underway. listen. >> a normal market you're going to find about 10-12% of home sales in my given -- in any given month are new or newly constructed homes. we're seeing up to 30-40% of people buying homes are buying new homes. >> reporter: big change there. new home sales in march rose nearly 9% from february as buyers opted for new construction. and that's, of course, because high mortgage rates -- now above 7% -- that the impacts not just buyer, but sellers. in fact, according to a new if survey from redfin, nearly 40% of homeowners say they couldn't afford their house if they had to buy it today. builders are goosing sales by buying down mortgage rates, offering discounts and building smaller homes. a lot going on there. look, the nhab outlook is rates will come down by year end. buyers also want pric
jer by will -- gerri willis joining me now. >> reporter: luck, negotiation room, new home sales, new homes, new construction market is where you want to look. look are, ohm buyers frustrated by the lack of invenn tore in existing homes are turning to new homes as is spring market gets underway. listen. >> a normal market you're going to find about 10-12% of home sales in my given -- in any given month are new or newly constructed homes. we're seeing up to 30-40% of people buying...