Is about the two different candidates, two different approaches, stark yesterday with the president fired up in lansing, michigan. And the emotion of mr. Biden georgia, warm springs, which resonates with Franklin Delano roosevelt. I would suggest markets on the move, different than yesterday, yesterday less correlated and today a dramatic correlation. Notice the vix at a strong 36. Francine i think the focus is on these lockdowns, especially in europe, how harsh they could be and what that means for job losses. A lot of the european stocks are at the lowest in five months. We will have extra market checks today. Thats get to first word news with ritika gupta. Ritika President Trump appears resigned to waiting until after the election to get a coronavirus stimulus bill. The president told reporters he will get the best stimulus package you have ever seen. The white house claims nancy pelosi blames nancy pelosi for the delay. Nancy pelosi blames mitch mcconnell. Reluctant tore embrace a
Buyer beware, ipos that have doubled do not have a great track record after the debut. Plus the president and tiktok, he says hes not prepared to sign off on anything for an oracle tiktok deal. And wall street poised for a sharply lower open following the feds pledge to keep Interest Rates low for years and Technology Stocks do lead the declines speaking of which, jim, sounds like your conversation with joe a moment ago kind of rings with what Credit Suisse says today about tech valuations overall, that is that there is some excess and theyre lightning their weight at least on software. I count 30 companies that are selling at 30 times sales and then theres a number, even more, maybe another ten that are selling above that, 50 times sales for zoom along comes snowflake at 100 times sales. You just have to put the stop sign up because what it says is theres going to be so much supply that is coming. Look, if you own a company youve been waiting for it to come public you just got the gre
New details on a possible Coronavirus Vaccine. Edward. Reporter connell that is what is propelling the markets today. We have positive news out of two vaccine makers. The first one pfizer. The ceo of pfizer says they will have enough Critical Data in october to be able to submit for approval should everything go as expected. He has said this before but this is a little different because it comes as astrazeneca saw a minor setback of trials in their vaccine. The pfizer ceo says he sees americans start being vaccinated before the end of 2020. The u. S. Government secured 100 million doses from pfizer this year with an option to get 500 million more next year. As of today, more than 29,000 people are in a phase three trial for pfizer. The fda hopes to have 30,000 volunteers and pfizer says it will be there next week on the way to 44,000 people. Of those, 24 in the study are minorities. That is something that the fda wants to see. They want to make sure this works among a Diverse Group of
In southwestern louisiana, about 30 miles east as a cat 4 a storm surge forecasters say could be 20 feet deep. Good morning to you. Reporter good morning. The rain is steadily coming down here as hurricane laura moves up the coastline or state line from lake charles up to shreveport where i am the rain is coming down steadily for the past several hours this storm has been downgraded to a category 3. Many concerns remain around heavy rain that could lead to flooding and the possibility of high winds that could impact trees and cause trees to fall and lead to downed power lines and outages much like we are seeing in the southern part of the state. Shreveport is one of the places folks were evacuated to from lake charles we are here along the riverside where folks are staying in hotels to get away from the storm but the businesses here are closed casinos here are closed. The cities in the area, the surrounding area, School Districts all closed for the day as they wait out to see what exac
Debts are about 700,000. The Trump Administration dabs up its attack on chinese tech. Mike pompeo wants to cut ties well beyond just a campaign against tiktok. Alert on start with an the bloomberg. South korea announcing its surplus widening to 6. 88 billion. This is a recovery from the 2 billion level we saw in the previous month and recovery after logging a deficit in april. When it comes to the trade surplus, widening to 5. 867 billion. We have seen south korean exports slump, slowing in july. We are seeing an economic recovery in china and demand for semiconductors. Lets turn to Sophie Kamaruddin in hong kong for a check of the markets. What should we be watching out for in south korea today . Sophie we have more data coming out. Tourism revenue falling for a fifth consecutive month so the focus will be on the consumer sector. Of o have the likes reporting earnings. Consumer sentiment has rebounded for a third month in south korea and online spending will continue to be key as the