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Transcripts for CNN CNN Newsroom 20200608 16:15:15
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Transcripts for CNN CNN Newsroom With Brooke Baldwin 20200608 19:27:45
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looks like? right? it didn t start in just the last couple months. world markets were bearish and about half of our market was in bad shape. this is the other half playing catch up. i must tell you, i don t think the power powers that be understand that in bear markets, they are very fragile so you have to be careful about what you say and how you say it. when you have the president of the united states ripping on the central bank i can promise you that markets will not take kindly to that. then you have steven mnuchin which looked like a desperate step and i think that was another big problem. i had no problem with him talking to people but i had a problem with him advertising it. the president s tweet about the federal reserve, we have heard things like that before. these calls though that the treasury secretary made over the weekend to the top bank ceos on wall street, according to the treasury department he was just trying to be preemptive and get
last second there. get to your place in a chair in front of the camera to talk about this. thanks, guys. as i do this next fellow. gary joins us on the phone. make you watched cavuto live. he said we re in a bear market. he said most of the stocks in those averages with well along that route. sure enough, gary, that compounded today. what do you see happen something. yeah, look, this has been going on for a while. it just didn t start today. you know, with bear markets, they surprise to the down side. what i think happens today and charlie gasparino is right, leverage is coming off. margin leverage is your best friend in bull markets because greed is the emotion, but in bearish markets, fear is the motion. so the leverage comes off and exacerbates the drop. so i m sure you re getting that. we broke below support level that helped the last two months.
for consumers. the national average, $2.61. as we head into black friday, which is supposed to be one of the biggest shopping days of the year and americans are expected to spend more this year than last year. that didn t help out retailers despite better results from kohl s and target. big technology names, facebook, apple, netflix, and alphabet parent to google all in bear markets, 20% down. if the concerns for investors continue to be higher interest rates, global economic slow down. traditionally the week of skipping is a positive week for stock markets with the s&p 500 rising for the past six straight years while the dow gained 19 out of the past 24 years. this year however it s looking difficult for investors to see positive returns on the week. bret: susan lee in new york
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