Serious . Today, gains and losses then perhaps we will know the risk off mood has taken hold. So far, there has been some evidence that investors buying the dip. Get huge inflows late last week. I lead you to exhibit a. The excitement around tesla is no more. After getting the Cold Shoulder from the s p 500 index, that partnership as well announced between two of his Key Competitors today. Gm and nikola. Of onethink at the end of the shows last week when you said what are you going to watch , i said tesla. I feel pretty vindicated. There was a surge in a lot of stuff. Nutsd absolutely gone since the lows in march. Housing speculation, economic recovery. It has also sold off hard since the end of august. Look, this is just an example, now giving some of it back. One caroline, as hyde would call the market. You missed that conversation earlier. Old was higher on the day the yen and the dollar also gaining on the day. Larger against the basket of currencies. Interesting move in the treasu
Territory in a single trading session. For some, it was even worse than that check out shares of apple down it lost 180 billion in market cap. That is the largest oneday lost for a u. S. Listed company on record if that isnt enough to get your attention. Apple lost more in market cap yesterday than the individual market capitalizations of 470 of the companies in the s p 500 it wasnt just apple microsoft, alphabet, microsoft and even tesla saw their market caps shrink. Microsoft down by 115 billion amazon off by 93 billion. This morning, things look a little better. You still have the dow down 150 points right now, it is reverse that up 300 points the nasdaq saw the biggest declines, up 27 points right now. We have to keep that in context a few things in here as well talking to people all day yesterday, here is the list. Youll want to know exactly what happened it was the nasdaqs largest drop you dont go up 400 and down that will be highspeed trading. That would matter until they do. Va
It is the best five days since 2006. That is how much the tech want in on apple. David it looks like we are buying bonds . Abigail there is a bit of a haven bid. You have stocks higher and bonds higher, not everybodys believing it. What will it tells about the economy and will we get a stimulus deal done . David the saga in washington continues over the possible next round of fiscal stimulus with republicans and democrats saying they may be moving closer on some issues but not so close on others. We welcome senator rick scott, republican of florida for the latest. Thank you for being with us. Give us your sense of where the negotiation is an most important, what is the biggest chasm between the two sides . Sen. Scott here is what is frustrating. Make toneed to take care of our Small Businesses and reopen the economy, and what schumer and below sea are talking about his election reform schumer and nancy pelosi are talking about is election reform, these are issues we should be talking a
Hopes around that region of the world. Disney is out with what investors are seeing as it fantastic Earnings Report thanks to streaming. Nikola, not so much. We will be asking the ceo about the 9 climb. Just 89 days unto the u. S. President ial election and during election year, august returns tend to be higher, finishing starter finishing higher than at the start of the month. Joining us now is the author behind that report, george pearkes. George, obviously you have to think that this year might be slightly different. Is there any really fundamental reason as it why as to why it should be different . George the historical precedent in the United States is that it is disconnected from the market cycle. You do not tend to see huge swings in market purely as a reaction to politics which is more common in emerging markets or other developed market economies. 1928the long term, since when the s p 500 price data see positiveend to returns in august and for every month leading up to an elec
Headlines. Fang with all the headlines in the greens, apple, amazon, netflix up 1. 5 . Tech remains hot, hot, hot. Still to come, definitely coming on todays show, coronavirus cases climb and states continue to rethink their opening plans. Well speak with fed chair James Bullard, what it means for the economy. Shares of Taylor Morrison posted record sales well speak to the ceo about whats driving the strength in the housing mark up a third of the percent. Lets start focusing on the big stories. Mike santoli tracking the markets, meg tirrell with the rising case count and courtney watching flags in the Retail Sector mike, lets kick things off with you. Market idling right here, holding above the flat line for the moment it seems like stealth pullback consolidation weve had last few weeks, s p 500, talking about a summer trading range this is what we had last summer. It looked like that on a narrow basis. Scares in both directions. Were not there in terms of prolonged sideways action. Th