Commentary plus back off the worst day and week of the week, the Company Reportedly looking to boost its efforts in a. I and elon musk and Mark Zuckerberg seemingly agreeing to that cage match, but some hurdles still ahead. Lets begin with the markets. The s p, nasdaq, as we said, coming off their worst week since march, jim that reversal friday didnt feel great. Oh, my. It took your breath away and i was watching them just saying, what happened . Is there some event . Did something happen that was exogenous . But then again, look, lets remember, bonds having a nice move today they were down 36. Now theyre only down 11 i thought that friday was one of those days where people just said, okay, weve had a great year now, lets just sit here and sit on our hands and that was what i was thinking to start my show tonight is to just sit on my hands, and i may do it. I just felt that weve made a lot of money, and maybe thats what were going to make for a month. Youve been pretty leery of this p
Numbers and, of course, the payroll report tomorrow, which leads us to our talk of the tape we ask how results from apple and amazon right after the close of trading might drive the tape from here. Here to discuss all that is stephanie link, and malcolm etheridge, both are cnbc contributors both are here at post nine as well welcome. Hi. Steph, obviously, look, apple and amazon together more than 10 of the s p they matter for the index how the market reacts to the numbers. In general, in the context of an earnings season that has been strong relative to expectations, the mark kind of shrugged on some level, where do you think that leaves us as we figure out if this has just been a little bit of an air pocket in august i think it is a little bit of an air pocket, digesting the doubledigit gains we have seen across almost every indices. And i think august can be volatile maybe trade around, maybe to september, mike. But i think the economy underlying is pretty good. The Economic Data has
Yesterday, but again we were talking about Massive Gains not just through the month of july but year to date as well well continue to keep an eye on this if youre watching treasury yields, this is where you would anticipate seeing moves if there were a downgrade if people were afraid of rushing into this. But it turns out u. S. Treasuries are still a safe haven and why the yields are still a bit lower. The 2year note trading at 4. 86 . Of course, all that related to what were seeing. Talk about the downgrade because it is our top story. Theyre citing what theyre calling an erosion of governance Emily Wilkins joining us now good morning to you. Good morning, andrew. Yes, shocking news yesterday at least for some of those in the Biden Administration seeing that downgrade in the u. S. Credit ratings from a aaa to a aplus this is only the second time the u. S. Credit rating has been downgraded like this treasury secretary janet yellen is quickly depending the Biden Administration she says
But can you still jump on the train trade . Of course, the transports are much more than just that. And later, is the rebound in financials for real . The options action on apple and is tesla about to get yet another competitor from china . Good afternoon, everyone, im tyler mathieson, coming to you live from studio b at the nasdaq. On the desk tonight, steve grasso, courtney garcia, mike khouw, and our guest trader for the hour, chris harvey from wells fargo securities. Welcome one and all. And we begin with stocks clawing their way to alltime highs ahead of the years final trading day tomorrow. The dow closing at another record level, the s p just points from a record, and the nasdaq sort of essentially flat on the session. Small cap stocks among decembers biggest winners so far, and theres just one day left. The russell 2,000 jumping almost 14 for the month today. Real estate driving big gains, rounding more than 9 . Its the months top s p sector, by the way. Is now a good time to p
an ongoing threat to our democracy today. washington post is out with new reporting that an election official in a rural georgia county threw open the doors to a stop the steal activist who was looking to probe election results there, looking for fraud, fraud that we all know now simply does not exist. that activist later claimed to have arranged for investigators to fly down to that georgia county to copy data from voting equipment. from the post reporting, quote, trump had carried the conservative county by 40 points but election supervisor misty hampton said she remained suspicious of joe biden s win in georgia. hampton made a video that went viral soon after the election, claim to go show that dom i don t know voting systems machines, the ones used in her county, could be manipulated. she said in interviews that she hoped the georgia businessman who visited later, scott hall and others who accompanied him could help identify vulnerabilities and prove, quote, that this e