Stocks (^DJI, ^GSPC, ^IXIC) are selling off at the midday mark, with the major indices suffering their biggest loss so far in 2017. The financial sector (XLF) is leading the way down, while consumer staples (XLP) and utilities (XLU) are the least in the red. Alan Valdes, director of floor operations at Silverbear, joins us live from the New York Stock Exchange.
To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance’s Rick Newman and Paul Schatz, President & CIO at Heritage Capital.
Amazon to hire 100,000 full-time workers over next 18 months
Amazon is going on a hiring spree. Already one of the country’s top employers, with 180,000 workers, the e-commerce giant is announcing it will create 100,000 jobs over the next 18 months. These are full-time jobs with benefits and extra perks, like 95% payment for college tuition in certain fields.
AT&T chief meets with Trump about Time Warner deal
Donald Trump is meeting today at Trump Tower with Randall Stephenson, the CEO of AT&T. The topic (we assume) is AT&T’s proposed $85 billion dollar purchase of Time Warner. Back in October, Trump said he would block the merger because it “concentrated too much power in the hands of too few.”
Senate takes first step on road to repealing Obamacare
The Senate is voting early this morning to instruct committees to draft legislation to repeal the Obamacare by January 27. A big question is what repealing the Affordable Care Act will do to the US uninsured rate. It now stands at 10.9%—a record low since Gallup began tracking health coverage in 2008.