The nasdaq is testing the lows hit during last weeks threeday selloff that sent it into a 10 correction. Any more than a 206point loss for the nasdaq and we right now are down 212, so yes, we are now deeper into that correction territory. We knew the pandemic absolutely crushed the travel industry but now booking holdings, forced to take a draconian step ahead of the Holiday Travel season in order to stay alive. The ceo of booking is here to tell us if hes at least starting to see a shred of light at the end of a very long lockdown tunnel. Plus we are on the ground in florida after the aftermath of Hurricane Sally. A money manager to sports star shares his covid stock picks. And new evidence of a coming coronavirus foreclosure disaster. Less than an hour to the closing bell, lets start the claman countdown. Liz weve got to get to the hottest software ipo of all time. It is now getting iced over, with about 59 minutes left to trade, take a look at snowflake, falling hard after yesterday
Here all three of them in the red today. As you just saw the dow finishing down 130. The s p down 28, the nasdaq down 140. We were concerned it was going to slip further into correction territory. Did not do that but not by a lot, my friends. What was going on there . Big tech, momentum stocks having the most trouble here today as we start to think about the recovery, is it real, whats going on with the concerns that the improvement in the economy may not be what we need . The momentum stocks, apple, amazon, youre seeing them here on your screen, microsoft, google, facebook, all down more than 2 . There are big concerns about valuation. Are the stocks too rich. They led the downturn today. They are extending declines from yesterday. I should mention here tesla snapping a five day winning streak. That is not nothing. What was at the roots of concerns . Concerns about the recovery. Weekly jobless claims coming in. 860,000 workers filing unemployment claims. That is below one million for
Devastated from the coronavirus from being evicted from their homes. We have the details coming up for you. Americas biggest chip maker rolling out its latest chip sets. Code name, tiger lake. Intel ceo bob swan here to tell us how its going to help it maintain dominance in the microchip world. Plus we will introduce you to a company shaking up shakes. The cofounders are here to explain how the reopening of gyms around the nation can help boost sales of its plantbased protein shakes. Less than an hour to the closing bell, im Cheryl Casone in for liz claman today. Lets start the claman countdown. Cheryl lets make you smile. Smile direct club investors are grinning from ear to ear as the stock sets its biggest oneday percentage gain ever after executives bought up millions of dollars in shares and as the company pulled the plug on manufacturing, a manufacturing facility in texas. Right now the stock is up a little more than 25 . A record ride for peloton interactive, hitting another high
Edward lawrence is live in d. C. Hillary vaughn live on the ground in wilmington, delaware. Susan, start with you. Were seeing a record close for the nasdaq and s p 500 as well. Now one star stock performer today, we have to bring updraft kings, dont we . It rallied almost 14 in presession. Not a bad 8 gain today. This is after bringing Michael Jordan on board as stakeholder, investor in the company and special advisor now to the board. Jordan brings his brand name along with him star power and strategy and sports knowledge. We have news from the worlds Biggest Company apple, today. Yes, a bit of a drag. Giving back some of the advance, not all the advance weve seen on monday. Worlds Biggest Company, 2. 3 trillion. That is bigger than the entire European Market and the ftse 100. They created 100,000 new economy jobs during the pandemic. That brings it up to 2. 1 million. That is 15 up in the last year. Biggest states with jump in app economy jobs, not talking california, new york. Texa
Close, all the major averages ending the week with significant gains, its a second straight week of gains for the s p and for the nasdaq. We began with fox Business Team coverage, blake burman and edward work lawrence in washington and we will start with blake, what is the latest on the stimulus. I guess there was a movement the democrats say they are willing to lower their number down a trillion dollars, however, no movement at all because it doesnt seem as if either side as if closer to a deal, we had another meeting on capitol hill, the top ford negotiators Steven Mnuchin and meadows, nancy pelosi and Chuck Schumer for democrats. Democrats say theyre willing to drop the number from three and half trillion dollars to another relief package and down a trillion dollars, so long as republicans move up there 1 trillion, another trillion. For the sake of america, meet us in the middle, dont say my way or no way, thats what theyre saying, they want to come off the number. Walking into that