World. Good morning, everyone im david asman and for stuart entere. A second virus wave in your, that continues to weigh on investors minds today but there are hopeful signs as you can see green on the screen, meanwhile big tech is trading in the green, amazon is seeing the biggest premarket pop, they just got an upgrade from bernstein to outperform maintaining the 3400 price target, amazing, battery day for tesla which continues to plow ahead, its awful little bit and premarket activity but elon musk say we will see the new product announced until a serious highvolume, until 2022, thats when the new battery will be coming out, the market is waiting on that, and politics versus the Supreme Court, still in focus, trump met with Amy Coney Barrett on monday, multiple sources telling fox news that she is the front runner to succeed Justice Ginsburg. Senate judiciary chairman telling Lindsey Graham and sean hannity that republicans have enough votes to confirm a replacement, today we hear f
The company that was forced to close all, all of its 600 u. S. Locations at the start of the pandemic lockdowns, now looking to wipe the slate clean. After five months of blockbuster delays, the Worlds Largest theater chain, amc theaters, is popping the popcorn once again. Coming up in his first and only Business Television interview, live from amcs leewood, kansas theater that just opened in the last few hours, Amc Entertainment ceo adam arron is here. To add to another show that must go on, live nation president joins us in a countdown exclusive on the creative ways live nation is now living up to its name despite a nearly left for dead concert scene. Microsoft getting a boost in this final hour after my report yesterday that sources close to bytedance say tiktok buyout talks with microsoft are in the seventh inning, but could support from the white house help oracle rally back in the bottom of the ninth or is it microsofts to lose . U. S. Undersecretary of state for economic growth,
Up 67 from its march low after what was a run the new high. You have sales force, youve got apple, microsoft some of the tech titans all under pressure thank you very much i like the fnew angle on the house. We have the market angles as well rick is looking at the bond market where its rebounding bob, lets start with you. Remember, we could go either way right now. Remember yesterday look at the s p. Around 11 00 we bottomed what we have is a good example of of shooting the last eight trading sessions for tesla, 400 eight days ago it goaes to 500 and back to 400 thats a complete round trip and overshoot on the downside as i mentioned before same thing with nvidia it was 500 five or six trading sessions ago goes to 580 and back down to 500 and below that. You can overshoot on the downside theres the s p there. You tend to overshoot on the downside as for the megacaps, a little perspective of whats going on its true that microsoft was down 7 to 8 this week its up 33 for the year this is
Report in the atlantic that says President Trump called wounded veterans losers we will talk to the Vice President , but lets talk more about the nasdaq with the tech selloff continuing. Some of the big names we follow closely, tesla is down after a 9 drop yesterday and today its down about 2 in premarket activity. The chip maker also about 9 yesterday and it also looks to open down by almost 4 today. That is free market activity as well. Zoom after a big day earlier in the week seeing major prophet taking in the last two days down almost 2 and apple surging on its stock split monday but then down another about 7 yesterday down to about one and a quarter in premarket activity after an 8 drop yesterday. We are less than two months until election day and joe biden is out and about. He made another. Dot this could be why the democrats want him to stay in the basement. We will play that a little later. We may hear from President Trump as he meets with leaders of serbia and kos about later
By 9. 1 and the pain is very much in the tech sector. The nasdaq is down even more. Stoxx 600 down by 6 10 of 1 . 1834,rodollar is at 100 stabilizing at this point. The euro has been down and pushing back. The lira is that a fresh record low against the dollar. Just off a fresh record low. Alix a lot of activity in the u. S. Is a steep selloff in tech. Scarlet fu, walk us through the nuts and bolts. Scarlett we are off the worst levels of the session before the nasdaq its the biggest drop since june 11. No specific catalyst. The jobless claims report was not encouraging, but this is a long time coming. People saying equities were not extended, especially those in the growth sectors and specifically mecca cap names. Looking at the different indexes within the nasdaq 100, 80 9 of the members are lower. Are down. M within the s p 500, 62 . Then you get to the dow average. 57 of the members are lower and within the valley, only half the members are down. They give you the sense of the rota