The s p 500 and nasdaq did break a threeday winning streak, so closing both lower today. We got data on jobless claims. Really awful. It goes to show you that the wall street recovery since those march lows, up 40 as you just noted, melissa. It is really outpacing main streets recovery. If you look at continuing claims here topping 21 million, it suggests that employers have been slower to hire back furloughed workers. Lets talk about the retailers. It is a particularly painful time for them. Hit first by the pandemic and now damage from the protest although you wouldnt know that from some of the retailers stock performances were seeing today. Take a look at nordstrom. It is up almost 10 . I want to Pay Attention to the gap here. Higher today too ahead of earnings any minute now but they did get hit by a lawsuit, Simon Property group because they hadnt paid their rent. Also the nasdaq 100. It did touch an intraday record high. It has since pulled back as Big Tech Companies pulled back.
Blake burman at the white house. Kristina partsinevelos is on the floor of the new york stock exchange. Phil flynn is watching the action in oil and ill be interested in gold there from the cme. Lets start with kristine in . What a day. The fact you see the dow close 1000. Off the session highs. I should say i was seeing negative 700 points. It was starting to get better. That is not the point. The s p worst performance over last week or so. Safe haven moving to gold as well as 10year government bond. So the government bonds though are telling us two different stories. The fact you have longer, broader term impacts with slower recovery around the globe. That is the story last week or so. You have a lot of investors were unsure how to price in the coronavirus. Because of that you saw further pressure on the yield to the lowest point weve seen since 2016. Another big issue is that gold climbing higher not since 2016. They have a large exposure to china. You had apple within the last week
Unprecedented flooding a state of emergency in mississippi. Waters are rising near historic levels and with more rain in the forecast officials warning the danger is not over yet. Plus hitting the campaign trail. Democrats running for president descending on nevada ahead of that states caucuses and the contenders may be about to agree on one common rival. Well talk about that. It is finally here, baby yoda merchandise. We hope you acted fast though. Lauren did not. Connell explaining later. Bracing for impact, beijing approving a stimulus package that includes a key Interest Rate cut as it attempts to bolster the economy amid the coronavirus outbreak. Chinese government think tank is now projecting that the outbreak could end up shaving off a full percentage point from chinas annual gdp this year. Plus it could impact as many as five Million Companies globally. That is according to research from the firm dunne and brad street. With us dan mitchell, center for freedom and prosperity cha
Stocks. It really started, if you think about it, a year ago today with a big rally the day after christmas, the after the Christmas Eve selloff last year. Now as we get set for a new year, nasdaq 9,000, what is next . What are you thinking about . Im really optimistic where the markets are going in 2020. It is kind of interesting, if you look at this historically, with a year where markets are up over 20 , on the average the dow has been up over 75 of the time with an average of close to 9 . The s p 500 has been up over 83 of the time with an average over 11 . Past returns are not indicative of future returns but if stats is on our side, history is on our side, markets are still good value, there is still room to grow and a lot of potential as weve seen in the past. Connell gary you and i spoke couple days ago right before christmas. Youre more of a worrier, right . Nothing wrong with that. Someones got to but how do you look at this run . At this point, is it getting toward as point
House is set to vote on 1. 2 trillion usmca deal any minute now. One day after their historic vote to impeach President Trump. Connell Fox Team Coverage on all of this. Gerri willis on floor of the new york stock exchange. Chad pergram covering all things capitol hill including that vote. Kristina partsinevelos in newsroom. Edward lawrence is in the white house. Chad, start with you, we talked about impeachment and usmca is a big deal this hour as well. Absolutely. We think the vote starts in ten minutes on the house floor. Theyre about to vote on salt, democratic provision to get rid of the element in the tax law from couple years ago that prohibited the deductions on state and local taxes here. This was a big issue in hightaxed states like new york and new jersey. That is a place where a lot of republicans didnt fare too well in the house races. That vote is up first in the house of representatives. That should start imminently. If you hear bells ringing behind me here, that is the v