Delays from washington from the trade deal to the stimulus negotiations, deadlines and expectations being pushed back the weve got 59 minutes left to go in the trading week s p 500, 16 points from a record close. Down right now, jon. Still higher on the week everyone except the nasdaq great to be with you this afternoon. We have a big show coming up to finish out the week. Were going to speak with minneapolis fed fred neel sakashkari and later, as stimulus talks grind to a halt, well speak with Maxine Waters about whether there is any compromise to be had. Plus, shell discuss a new bill encouraging the fed to use authority to close the racial wage gap in this country mike santoli is tracking the Market Action. Start us off on the broader market. You can call it resilient or fatigue or really anything a standoff here at the record high levels of the s p 500. The past four days have basic clind of touched it or been shouting distance of it. The were just hovering there. Up 3 or so month
Going. Well start off with game called market jeopardy the final market jeopardy answer tonight, the most important event for the markets next week. Now, remember, the rule is you have to phrase your response in the form of a question or it might not count. The stakes are high here bk, set the tone. Ill set the tone, alex how do i play this game . I just blurt out an answer i say whats the most important thing . Yes thats how it works. Have you not seen jeopardy. What . No i mean, i havent seen it in a while. Im more of a wheel of fortune guy. Its a lot easier game what is the stimulus bill . That is my answer, melissa ill tell you why. I think a lot of people are kind of writing that off, okay, were getting this back and forth, this is how the sausage is made. Ultimately theyre going to come to an agreement. Theres not much incentive for democrats to come to an agreement on this given this Election Year. That could be the wildcard in this. What happens if we dont get a stimulus bill,
Half hour, joining us for questions. If you had to pick one, would you rather buy gold or bitcoin a lot going on this morning on squauchl thats actually a game we play on fast money would you rather that answer, the day after bitcoin crosses, particularly saling at the section. What i like best when they move in the opposite direction with pops and drops. Was that not a fast money that is like classic fast money circa 2007 classics are the best that is peered the way they are moving together. The way of the digital gold story. Weve got all of this money printing the depth of the crisis getting down to 4,500 . I think lower like 3,500. I wanted to ask you i dont know where you are i dont want to know what type of lease arrangements have you seen. When are they coming back to work at google summer 2021 what is it now . Summer of 2020 it is a year from now google, alphabet is the most out there. Facebook is june 30, 2021. I wonder if all the Big Tech Companies follow suit. Microsoft was o
Washington and the world talking, microsoft eyeing an acquisition of tiktok and is this comes after President Trump threatened to ban the app in the u. S. Over security concerns. The president made an about face and gave microsoft the go ahead to proceed with the deal josh lipton has the very latest. So, melissa, President Trump also weighing in here. Take a listen to what he had to say today. It will close down on september 15th unless microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the treasury of the, really, the treasury, i guess you would say, of the United States gets a lot of money so, why is microsoft interested in tiktok well, its a wildly popular app with 100 million users already here in the u. S. Engagement trends are strong analysts note that users already spend over an hour a day on the app. Patrick moorhead emphasizes two broad reasons why this could make strategic sense one, he argues microsoft is relatively week in Consumer Ser
The heels of positive covid19 vaccine news why are all the opening trades down check out the airlines and cruise stocks, battling rocky seas with major losses a cross the board. Lastly, check out casino names youd think they would rally but no a sea of red. Whats with the break down between positive vaccine data and these trades were back to the old play book in the market, tim yeah we had a week off. S p outperformed amazon 8 in a week boy look at the turn around, look at that move by amazon, big upgrades on the street, maybe its just catching up to the levels 3200 on amazon by goldman, alphabet shares theres Different Things going on as good as the potential vaccine news flow could be, i do think that the reopening trade is moving in reverse theres states that arguably have lost control. So, i think consumers are assessing, but more importantly investors are assessing what consumers may or may not feel comfortable doing in terms of gettings on airplanes and getting involved in some h