Suspending ant Group Listing major issues, this is days before the largest ipo of all time well give you the latest details. And social Media Election strategies how facebook and twitter aim to tackle misinformation on their platforms as voters head to the polls and beyond whatever beyond means, carl. David, thanks guys, were going to be talking all day and all night about arizona, florida, georgia, North Carolina, jim, goldmans got a note out just now saying because it would be difficult if the president does not win any of those states, quote, there is a good chance the election outcome will be clear on election night. Right, i think that thats what the market is saying. So the collectionive voice of the market, both yesterday and not just the morning, but when the nasdaq rallied in the afternoon and today with the futures, people say, we cannot afford after last week with the market being down, we cant afford to wait for the outcome we have to presume the outcome is going to lead to
Say the least after a bit of a rebound the other day when i was on with you, yesterday i was not here for what was a decline overall in all the markets. I think we are in a new era of volatility. Every single time we get an up opening people say, okay, i guess that selloff is over and when we get the printed selloff people say this selloff is going to go on for ages. I urge people to step back and recognize we are in a period where theres a lot of vacuum, a lot of people trying to buy when its going up, a lot of people trying to sell when its going down and just interpret that as just being enthusiasm, greed and then fear and accept it that its here to stay because its really the undercurrent behind these moves. Okay. And what does that mean in terms of this socalled playbook that you often offer people who listen to what you have to say sure. It means that if you think that it is going to bounce today because it was down hard yesterday, dont make the first move wait to see whether the
Whether its medical, some of these states posting some of their highest caseloads since the pandemic began, but then again optimism about the recovery at the same time. Right look, i think that we are all kind of thrown its governor to governor, yesterday in new jersey suddenly we get the you can have 100 people outside, 50 people inside. Versus six we are all kind of confused. With he see some parts of the country looking worse, other parts of the country that were so terrible its wide open and the confusion to me is what are the numbers going to be look like what are they going to look like given the fact that new york now feels like post wuhan and the rest of the country seems like, i dont know, maybe is it going to be italy, is it going to be spain i dont think it is. I think its going to be better, but i have to tell you, carl, that the stuff thats being bought is not in synch with whats happening, particularly the airlines, the hertz rental car, we saw a very good piece in the jo
Timing, the pace, the safety of this economic reopening. Right i think that at this point, we know that the v is off the table. The struggle here is whether we have a ushaped recovery or whether we dont have a recovery and i keep coming back to there are two things that can happen you get a vaccine, and youll have a vee you dont get a vaccine and youll have an l and i think on days like today when you see the unemployed numbers, you say to yourself, without a vaccine, this is going to be a very, very long slog, just like what chairman powell said yesterday chairman powell is giving you the straight stuff and this number should not be a surprise to people who listened to him yesterday when you think about a vaccine this week, jim, we have heard promising comments from pfizer and j j today, the novartis ceo saying its likely a second half 2021 story. What do we believe i think its second half 2021 if at all. Its a very, very difficult virus. But you know, that may just mean when you look
What happens after yesterdays big move the dow down yesterday by 2. 1 the dows worst performance going back to may 1. A lot of this was happening as we were getting comments not only from Stan Drunkenmiller and dave tepper talking about his concerns about this being the second most overvalued market he had ever seen. Comments from fed chairman jay powell all of those things adding up saying what do we need to worry about and where do we need to be concerned . Watching the treasury markets, you will see the yield for the 10year right around 0. 61 so that is with a little more pressure. Watching wti this morning, you will see that is up about 5 i think it is 2r5iding near session highs of 26 a barrel. Andrew thank you. Every day, we have a huge show another big one this morning what is on the lineup this morning. The ceo of verizon, New York Times, mohammad eleran to join us and eric schmidt who will be working with the governor of new york states and work places looking to him and that