The year dow is set for a record close, approaching 30,000 with 59 minutes left of trade. Up 1 2 on the dow sara 29,830 currently. Coming up todays show, we are waiting president elect biden to make some comments on the economy. His economic plan that should come any minute. We will take you there live. In the meantime, a rare interview with operation warp speeds dr. Slaoui he will weigh in on the moderna news and what the rollout will look like. Plus the positive vaccine theus with mark moabious his eye on emerging markets. And mike wilson saying next year will be all about earnings we will discuss with Morgan Stanleys chief u. S. Equity specialist mike santoli joins us. Meg tirrell has the latest on covid19 news. Eamon javers will go over president elect biden speech on the economy when we get there. Lets start with mike santoli. We below on the s p 500 where we were this morning, by about a third of a percent below last monday mornings high about a third of a percent but looking at
The only stocks that are doing well right now, some of the reopening trades and some of the big laggers for the year like cruises and airlines and some retailers still in the Green Energy Stocks also outperforming. Is this the start of a serious correction or a buy the dip opportunity were diving into that debate. 59 minutes left of trade 59 minutes of of this roller coaster session. Lots of guests as well the market pulls back. Well speak with three ceos that got insight into the state of the consumer, their spending and recovery in america. The ceo of campbells soup will join us on the back of had his companys Earnings Results that stock down 7 right now plus, well get two reeds on the beaten down travel sector with glenn fogel and mark hopelinger. Well speak with nick clegg about the new policies surrounding the election looking forward to that one. Lets get straight to our top story of the day the market selloff Mike Santelli has more on the major market pull back. A big pluflush o
Tom keene, Jonathan Ferro off today, both playing hooky as we get ready for the long Labor Day Weekend in the United States. Im lucky, though. Paul sweeney, my former cohost on bloomberg radio, joining us today. It is so telling that we are showing an image of washington, d. C. Because it was too cloudy in new york city, and perhaps that is a metaphor right now. Very cloudy in new york city for the future for a lot of things. Very much the focus on washington, d. C. As people wait for some signs of fiscal support , as people wait for some signs of just how contested this election in november is going to be. Paul i think all eyes are going to be turning towards washington. This is then thetion, more nearterm fiscal stimulus. The question is, does this economy need more . A lot of folks are saying yes, but we need to get congress back at the bargaining table. They seem to be pretty far apart at this point. Lisa we will find out. Right now, markets unfazed. They are indicated to open at n
Abramowicz and tom keene in new york. Good morning on Bloomberg Radio across the nation. Good morning on Bloomberg Television worldwide as well. Theferro, without question most mysterious jobs report ive ever witnessed. Jonathan we talked about the wide range all morning. Lets talk about it again. At the top, 2. 4 million. Thats the high estimate. Below, 100,000. The pace of the recovery is slowing. I wonder if we have seen more evident if we are seeing more evidence of that a little later this morning. Tom i thought of one of your good questions earlier, the idea of this shift to the new unemployed. Forget about furloughed. Forget about all of the other language. It is people terminated. Lisa people are becoming permanently laid off. Initially it was temporary. My question today is going to be is bad news good news, and is good news bad news . The idea that if we get a worse than expected report, we will get into this for some as we will get impetus for some kind of fiscal support we
Territory in a single trading session. For some, it was even worse than that check out shares of apple down it lost 180 billion in market cap. That is the largest oneday lost for a u. S. Listed company on record if that isnt enough to get your attention. Apple lost more in market cap yesterday than the individual market capitalizations of 470 of the companies in the s p 500 it wasnt just apple microsoft, alphabet, microsoft and even tesla saw their market caps shrink. Microsoft down by 115 billion amazon off by 93 billion. This morning, things look a little better. You still have the dow down 150 points right now, it is reverse that up 300 points the nasdaq saw the biggest declines, up 27 points right now. We have to keep that in context a few things in here as well talking to people all day yesterday, here is the list. Youll want to know exactly what happened it was the nasdaqs largest drop you dont go up 400 and down that will be highspeed trading. That would matter until they do. Va