Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
On the eve of his first trip abroad since taking office, President Trump took the first formal steps of renegotiating NAFTA. But is it the right time? And what will the U.S. get out of it? That's what we're talking about today, before turning to Saudi Arabia. It's Trump's first stop on a whirlwind nine-day trip, and he's bringing a lot of CEOs with him. Plus: Roger Ailes, the founder and former CEO of Fox News, died today at 77. Ailes was, according to more than a dozen women, a serial sexual harasser who enabled others to do the same. But he was also a man who changed the United States and propelled Trump to the White House. We'll talk with Ailes biographer Gabriel Sherman. Plus: We covered stocks and currency under Trump already this week. So why not try to predict the future and complete the trifecta with a look at the bond market.
Leaving aside some late-breaking special (counsel) announcements, stocks seemed pretty immune to the chaos in Washington until today. But the dollar? Different story; it's at a seven month low, in fact. That's not to say currency traders are more on the ball than the folks in equities but... if the shoe fits? We'll talk about it, and today's big sell-off. Then: TV upfronts are wrapping up this week. All the networks are showing off their fall schedules which look... a lot like stuff we've seen before. Finally, we follow a cancer patient who's devoting his life to making drugs more affordable.
In the past week, the president of the United States shared highly classified information with the Russians, after he fired the director of the FBI. That whole affair is still roiling as we taped this show. Before that, Congress pulled a major piece of legislation affecting almost 20 percent of the American economy off the House floor before a vote, then passed by the slenderest of margins. In different times, all this chaos would have spooked traders, shook up markets and maybe Washington in the process. So it's worth hitting pause and asking: What did the markets know? And when did they know it? Then: what you need to know about Ford's plan to cut 10 percent of its global work force, and the U.S. Postal Service's bid for Millennials. Plus, as the WannaCry cyberattack fades, a new story is emerging: Hollywood films held by hackers for ransom. What would it take for studios to pay up? Should they?
Here's the thing about WannaCry, the ransomware attack much of the planet was dealing with today: it's been remarkably unprofitable for the perpetrators. Hackers asked for as much as $300 worth of bitcoin per infected user, and they've only netted about $55,000 for their efforts. Why use bitcoin as ransom payments? We'll talk about it. Then: 2017 is gonna be written about in the history books for a whole lotta reasons, one of which might be as a tipping point in the global economy. Following China's big infrastructure summit we'll sort through the state of negotiations around the world. Plus: why it's a good time to be a restaurant worker in Nashville.
We have a lot to talk about on the Weekly Wrap this week: We'll cover the economic impacts of Comey's firing, the interview President Trump gave about his own economic policies, and that letter about Trump's Russian business interests or lack thereof. Then: State governments submitted more than 500 infrastructure projects to the White House for consideration as Trump puts together his spending plan. We're tracking what's on each state's wishlist along with APM Reports. Plus: What the Justice Department's new action on drug offenses means for the private prison business.
As we await tonight’s already-a-bombshell conversation with NBC News, there’s another Trump interview we’ve been unpacking today. The president and two of his key economic advisers sat down with The Economist to talk health care, trade and more. We're going to zoom in on one part, where Trump said he'll "prime the pump" of the economy while claiming he invented the term. He didn't, but we'll talk about what it means and why that policy matters. Then: The Senate has confirmed Robert Lighthizer as the U.S. trade representative, and he's going to have his hands very full (see above). Plus, we'll look at a grim but hidden dimension of this country's opioid epidemic: morgues and medical examiners are overwhelmed.