They missed estimates by a wide margin the expectation was for over 800,000. And tech stocks are broadly underperforming to day, unwinding yesterdays gains. Amazon, apple, facebook, and microsoft all heading lower. 59 minutes after the session and were down 2 for those names. Power play. Pete . 5 for the s p 500 lets get to the president s diagnosis and impact it could have on a broad range of issues. Were looking at the potential impact on stimulus talks meg has the details on testing at the white house mike santoli tracking what it means for the market lets begin with what we know surrounding the president at this hour. Yeah. What we know is this diagnosis is now upended the president ial campaign a month out from election day the president s Campaign Team put out a statement earlier today saying that all previously scheduled events that involved the president of the United States have now been canceled. What theyre saying is that theyre going to maybe temporarily postpone some of th
We will begin, though, this morning with of course stocks, futures indicate an additional testing of that 3220 level on the s p. Were also talking about the possibility, however remote it might seem, of a relief package coming out of congress,given some conversation, jim, between secretary mnuchin and Speaker Pelosi do you think there is a chance i know that they both care passionately about Small Business if you look at the testimony yesterday by secretary mnuchin, he mentioned restaurants a couple of times. Thats where the yelp numbers that we get, yelp yikes is our vc, where the real damage s youre starting to talk about 50 of the bars and nightlife being closed in this country, thats way too big and i think that the secretary is really alluding to that david, do i think there will be a deal i think there is a sense that both sides feel a deal is bad for them, in other words, if they give if theres a stalemate, they will somehow do better at the election i dont think thats true, but
And technology outperforming in todays trade. Theyre all up more than 1 hers at the moment weve got 59 minutes left to go in another wild session. Green across the screen once again. The company now pivoting to very different space. Well speak with the ceo about the strategy shift plus, former ceo getting in on the spac craze with a Blank Check Company. Lets get straight to the big stories were watching mike santoli tracking the market on this first day of the Fourth Quarter. Steve leezmiesman has a look ate Economic Data and we have the latest on the stimulus notions its been a little jumpy. A little fitful action it is shuttling up and down within that range. It seems as if the market is trying to shake out the people or the al go riridg al algoriths the year to date chart, we remain here. We keep pointing out its kind of this, you know, upper range above the year to date break even level it is about 1 , 1. 5 up from this level in the 3400s. People say maybe represent an upside break
Deutsche bank, jpmorgan chase, Standard Charter among the banking giants talking a brutal hit as an Investigative Reporter alleges they all laundered trillions of dollars for terrorists, oligarchs and drug kingpuns. This is great kingpins. This as the death of Justice Ginsburg throws a wrench into the 2020 race. Could it interrupt passage of new stimulus money that desperate americans and Small Businesses are waiting for . Mark the numbers, Dow Jones Industrials at its low was down 942 points, right now were down 743. The s p at this moment down 70. The nasdaq sinking deeper into correction territory, down 131 points. All right. The s p, by the way, or got close but no cigar to correction territory. I know my bull watchers out there are pretty happy about that. Weve got team fox business coverage to tackle it all. Dick boy say on bovey, phil flynn on the surprise sectors popping and blake burman at the white house on the stimulus prospects and the search for Ruth Bader Ginsburgs replac
You know, of three straight weeks in the red this time its not tech thats leading the sell off you have materials, industrials and Energy Taking the market lower at this hour plus, still front and center for both washington and wall street is that tiktok melo drama. Will the chinese give it its stamp of approval. Power lunch starts right now lets go to bob for a look at whats happening and why. Bob. This did not start today. It started earlier in the month. It Gains Momentum in the last four days. Theres some very good reasons why. This didnt come out of nowhere. Lets review why the markets are down concerns in the uk about potential new lockdowns. There are increased trade tensions with china. Concerns have increased. Concerns about over value tech stocks that hasnt gone away. I think were seeing a bit of rising anxiety around the election this is not a mystery about whats going on. What you want to look at as tyler mentioned is whats selling off today. If youll notice cyclical stocks