Chinese stocks plunged six percent today.
We get earnings from Wal-Mart and Home Depot today.
Oil prices are at their lowest since 2009, and continue to fall.
Earnings so far this quarter have been somewhat weak, and may point to dangers ahead for U.S. companies.
There are also growing concerns stocks may be in a bubble.. and a correction may be overdue. We’ll get into that in the 11am, and in the 1pm we’ll talk about the growing fears that the U.S. may not have many tools left in its recession fighting tool belt if it should come to that.
Jon Hilsenrath and Nick Timiraos in the Wall Street Journal today write, “As the U.S. economic expansion ages and clouds gather overseas, policy makers worry about recession. Their concern isn’t that a downturn is imminent but whether they will have firepower to fight back when one does arrive.”
Jon Hilsenrath joins us in the 1pm.
The Iowa State Fair speeches continue today.. with some big names taking to the soap box in the first caucus state for 2016.
Senator Marco Rubio speaks at 11:30. We’ll be monitoring. Tonight it’s John Kasich who’s been rising in the polls.
At 11:30 Jeb Bush is speaking in South Carolina.
At 11am, Wisconsin Governor Scott Walker will deliver a big speech on Obamacare in Minnesota.
Walker going on offense in the face of sinking poll numbers, and weakening media interest in his campaign. Walker endorsing a bigger border wall with Mexico, no amnesty for illegal immigrants, and a crackdown on the number of immigrants allowed in the country. The ideas are similar to Donald Trump’s plans that have gotten so much attention. Scott Walker now releasing a new health care plan that would offer refundable tax credits to help pay for insurance and throw out Obamacare.
New polling out this morning from CNN and ORC of Republicans and Independents. It shows Trump at 24%, Bush at 13%, Carson at 9%, Rubio at 8%, Walker at 8%, Paul at 6%, Fiorina at 5%, Kasich at 5%, Cruz at 5%, and Huckabee at 4%.
Hillary Clinton and Bernie Sanders are speaking at a big union event today in Las Vegas. Clinton holds a town hall at 5pm.
Meantime, The Hillary email controversy continues to grow. 305 more emails from Clinton have been flagged for further review.. and may have contained classified information.
Rosalind S. Helderman in the Washington Post today writing, “When her use of a private server was first made public in March, Clinton said she did not use her e-mail account to exchange classified information. However, the Inspector General for the Intelligence Community has said he located two e-mails that contained information that was top secret, the highest level of classification, in a sample of 40 e-mails he reviewed. The State Department has said Clinton did not write the e-mails in question, and it is reviewing the IG's finding.”
The Clinton camp calls the investigation partisan politics, and has claimed all along she did nothing wrong.
Wildfires are growing and spreading across the American West. 95 large fires are burning in Alaska, California, Colorado, Idaho, Oregon and Washington states. 200 active duty military troops are being called in to help battle the blazes. 75 homes burned in Washington. 40 homes destroyed in Idaho. 26 homes burned in Oregon. Dozens more destroyed in California.
Terror in Thailand. There was another explosion in Bangkok today, but not injuries. Yesterday a bomb killed at least 20 people at a popular Hindu shrine. 123 injured. Police are looking for a suspect seen on surveillance tape leaving a backpack behind right before the explosion. Benjamin Hall reporting.
The hack of IRS tax returns and taxpayer ID’s was much bigger than previously thought with the IRS sending letter to hundreds of thousands of Americans who’s returns were seen by hackers back in May. 300,00 are likely affected
The Obama Administration set to release new regulations to cut emissions of methane by the oil and gas industry. The new restrictions aim to reduce the amount of greenhouse gasses being released that contributes to global warming.
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