Worst day in a couple weeks. The nasdaq snapping an eightday winning streak if we close where we are today bob pisani now has more on the markets. Bob . Very tricky moment here, tyler, right near the 200day moving average technology has the leader whats the problem theres a number of issues the coronavirus story is the most important its not going well. We have infection just outbreaks, some threats from Governor Cuomo to close things down, tariff tensions are still out there. That moved the markets prior to the open valuations are still high. Energy stocks up and then down same with the banks here 12 to 16 honeywell, and then all way back down again. See how similar the stocks are, the inverted vs, and now theyre breaking down a bit more mcdorchlds 180 to 200 theres that v we have to figure out a way back to you theres the dow now, the tristate area closing off borders from visitors out of state. With no plans there to halt reopening. Meg tirrell has the latest details for us meg . Hi
From facebook. Julia boorstin has been following the story. Its two reactive and slow about the hate speech. Auditors saying they watched the company make painful decisions that are serious setbacks and has not devoted enough assets to address these issues this report advocating they bring in more civil rights experts to the country, take steps to address concerns dedispute that post violating facebooks broader policies. Sheryl sandberg responding to the findings as hard as its been to expos o they echo the criticisms by the civil rights a groups behind the boycott that met with facebook management yesterday. They called the meeting disappointing. Now, facebook has said it would not fall not fold for pressure, but it does seem they could be compelled to take some of the recommendations. Julia, thank you. Lets get to steve weiss steve, it looks like facebook is under a lot of pressure when it comes to the issues of up civil rights and hate speech. It is im sticking with it ultimately i
Were red now across the board as we show you where the major averages are down. The s p down about 1. 5 . Josh, i turn to you. A lot of hurdles to get over were watching texas and florida. The banks are under pressure because of the regulations from the fed about dividends and buybacks you have the nike news with the big miss off its earnings. You have a Tall Mountain to climb today. Yeah, i agree with you. Theres a lot of stories swirling around right now and most arent feel good for stocks the big story is the virus and its resurgence. I think thats the only thing that matters to market right now. You see it in whats working and whats not sometimes things are complex right now things are simple. Dollar tree, costco, clorox all look outstanding now even the stocks that went vertical given those vertical moves they are hanging very high and thats really impressive. They are not even pulling back for a consolidation in any significant way. Look whats rolling over, exactly what you would
487. In part because of a big move in the dow in boeing as it gets ready to test that 737 max for recertification. The s p and nasdaq is higher but by lesser percentage gains theres 10 million global cases of coronavirus half a million deaths. The daily case count here in the u. S. Hitting a record high over the weekend. Well have more on that. Facebook, a big laggard today. Down 10 in the past week as big advertisers, its up today as big advertisers pull millions of dollars from the social media platform power hundred lunch starts righw thanks the the dow and s p jumping back into positive territory for june and on track for the third month in a row of gains now. Lets head to dom for more on these markets. We need a few more hundred points to get back what we did lose on trading. Dow industrials 25,505 is right know hovering near the highs of the day the s p 500 a relative laggard thats whats driving the dow today. Check out whats happening large caps versus small cap stocks we talked
Protesters have created an opening for looters and police sometimes cant tell the difference between the two even from a purely business perspective, youd think people smashing up major retail destinations like the flagship macys would be bad for the stock market, right . Every time the market looks like its about to get clocked we get a stay of execution. Dow gained 268 points. Nasdaq advanced. 59 last night after president trumps fire and brim stone law and order speech, our futures plummet. Declaration of war replete with threatened deployment of the u. S. Army. Thats not the job, theyre war fighters makes you want to sell stocks for certain. Those futures looked ugly. All those images of looting didnt help. The futures stayed soft. I got up at 3 15 a. M. , expecting precarnage. Futures rallied again. An hour and a half later, the futures were up nicely you know what counteracted the pain a 4 rally in the german stock market with several of their borses not far behind. Yes, we actua