Dow Closes Down More than 300 Points on the Day of the State of the Union
The Dow closed today down more than 300 points. The major dip occurred on the same day as President Trump's first State of the Union address.
Stepehn Massocca is a managing director at Wedbush Equity Management. He joins Cheddar to break down the major dip.
When asked if he expects this dip to continue, Massocca says he thinks it will depend a lot on the fixed income market. That being said, Massocca does not anticipate a continued decline.
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
Susan Bourgeois, Louisiana Economic Development Secretary, talks preparations for Super Bowl LIX, plus Meta’s $10B data center coming soon to North Louisiana.
