CNBC's Tyler Mathisen looks back at the week's top business and financial stories.» Read More
President Bush will give the State of The Union speech next Tuesday night to both Houses of Congress--and the American people--and he does at at time when he has one of the lowest approval ratings of his presidency. So--what can he say at such a time? CNBC's John Harwood appeared on "Squawk Box" to give his preview of the speech--and he was joined in commentary with former GE CEO Jack Welch...
The current field of Democrats running--or thought to be running--for the White House in 2008 might be shaking Wall Street to its roots. The 'fear' is based on getting a president that's unfriendly to the Street's business friendly philosophy. Among the early frontrunners is a one time Wal-Mart board member (Hillary Clinton), an ex-trial lawyer (John Edwards) and a relatively unknown (Barack Obama).
He's running--sort of. U.S. Sen. Barack Obama (D-IL) is a major step closer to actually running for the presidential nomination of his party. Obama announced in high-tech fashion (on his personal Web site) that he's formed an exploratory committee to run for the top spot on the presidential ticket in 2008.
President Bush addresses the nation tonight at 9 pm to explain his new plan for Iraq, which includes a surge in the number of Americans on the ground. Key Democrats including Ted Kennedy fiercely oppose the Bush plan and are threatening action. On today’s "Power Lunch" CNBC’s Bill Griffeth examined whether this is the end of bi-partisan cooperation we’ve been hearing so much about – and if a huge power clash between the Democrats and the GOP is about to get underway.
President Bush outlined his agenda for the remaining two years of his presidency today. He did so at the White House Rose Garden with his cabinet standing behind him. But his words were only a brief synopsis of a much larger outline written by the President in today’s Wall Street Journal (subscription needed). For perspective we talked with CNBC Chief Washington Correspondent John Harwood and The Wall Street Journal's Assistant Managing Editor, Alan Murray.
As you know--the U.S. markets were closed today in observance of the day of mourning and services for Former President Gerald Ford. By 4:00 pm, the state funeral had moved from Washington DC to Grand Rapids, Michigan where the 38th President will be laid to rest, tomorrow. According to the Associated Press, the marching band from the University of Michigan (his alma mater and where he became an All-American football player) greeted the White House jet carrying his casket.
Funeral services for former President Gerald Ford are underway. His coffin is at the U.S. Capitol--shortly to be moved to Washington DC's National Cathedral. From there--it will be flown to Grand Rapids, Michigan for burial. CNBC's Hampton Pearson is reporting live through the day. He said that some 30,000 people have passed by the casket in the last two days.
Stock markets around the world opened the New Year on a note of optimism. European shares are close to six year highs this morning, and Hong Kong closed just under its all time high. U.S. stock exchanges are closed in honor of the national day of mourning for President Gerald Ford. Services for Ford are held this morning. Our Hampton Pearson will be there, and John Harwood will discuss President Ford's legacy.
Showing up for the first trading day of the New Year is a little like arriving for the first day of school. Good grades from last year no longer count, and the books are no longer relevant. That feeling is especially strong when the old year rang in some very comfortable double digit gains for stocks, and the path to the next year's profits is not so clear. The first week of 2007 is awash in data, including the Friday jobs report, auto sales, retailers'.....
As we end for today, we can safely report it's been a banner year for stocks--by just about everyone's measuring stick. Bonds didn't so bad either. Blue chips were certainly the big standouts of 2006. The Dow Jones industrial average--the index of 30 of the nation’s biggest companies, hit record levels dozens of times since closing at 12,011.73 on Oct. 19. It's since surged to an intra-day high of 12,529.87. All this despite....
As we reported this morning, John Edwards – the Democratic vice presidential candidate in 2004 – announced his bid for the presidency in 2008 today while in New Orleans. CNBC’s John Harwood and Newsweek White House correspondent Richard Wolffe were on “Power Lunch,” discussing what an Edwards win would mean for Wall Street.
CNBC's Bill Siedman was a top economic adviser – and close friend – to President Gerald Ford. In contrast to the all the talk about Ford’s pardon of the defamed Richard Nixon, Michelle Caruso-Cabrera spoke with Siedman on “Morning Call” to get a more personal retrospective on the 38th president of the U.S.
John Edwards officially announced his candidacy today for the presidential nomination of the Democratic party in 2008. He was in New Orleans this morning when he spoke with CNBC’s John Harwood and Michelle Caruso-Cabrera on “Morning Call.” Edwards talked about some of the key platforms for his campaign.
Good morning. Our quote of the day comes from the stage and film actress Ruth Gordon (of "Harold and Maude" fame): "To be somebody you must last." The lasting memory of Gerald Ford is being honored. Funeral arrangements announced Wednesday include placing the former president's casket for repose outside the U.S. House chamber--and then placing it for repose outside the Senate chamber.
One former president passes away--and others plan to run for the office. As the U.S. mourns the passing of Gerald Ford---former senator John Edwards is expected to announce his second bid for the White House on Thursday ( he chose tomorrow sometime ago.) We'll have a look at the Edwards' economic plan--he's considered a "populist" by some and a "tireless advocate for the poor" by others.
Rates Go Up, Mortgage Apps Go Down: From the “scheduled breaking news” department - the Mortgage Bankers Association releases its weekly report on mortgage applications every Wednesday Morning at 7 am. I usually have it ready right at 7 am for use on air - as we did this morning. We posted the numbers earlier--mortgage apps fell 10.2% as the average 30-year fixed mortgage rate rose to 6.10% from 6.02% the prior week.
At an end-of-the-year news conference, President Bush outlined his outlook for Iraq. The president said he has asked Defense Secretary Robert Gates to report back to him as quickly as possible on plans to enlarge the size of the Army and the Marines.
Where does the Bush Administration think the U.S. economy is really heading? CNBC's Steve Liesman sat down with the White House economic team, then went straight from the meeting to "Power Lunch" and told CNBC viewers all about it.