Couple of days over 8 if you are looking at five days. If you were expecting a quick pull back, you are not getting it s p futures are off by 8. 5 nasdaq off by 31 all three major averages have lost all three of the gains for 2020 so far. We have looked at treasury yields so far. If that goes up, a tick higher well take anything. It is hard to take the big drop when you have one day at 22 keeping things in perspective. Our top corporate story. Disney ceo bob iger is handing offer the keys to the Magic Kingdom immediately. Hes not going anywhere i have a theory this beautiful succession is so orderly it is weird that it comes down to, oh, im leaving today. I want to hear what you know and some of your water cooler scuttlebutt. And go wild. My son informed me yesterday, bob iger is stepping down. Replaced by bob chapek hes been there a long time. Head of the global parks unlike Nbc Universal hes not a content guy hes a parks guy we think of it differently at comcast. Parks are important
plus of course all the earnings in key focus. yesterday we had uber put out some of their numbers. you can tell things are doing very well. 58% of s&p 500 companies have reported their earnings thus far. 82% of those who have reported have beaten estimates by those that have put forth how things would fair. clearly a much broader and better financial stance thus far and the market can continue that momentum, it is going to be quite significant to see from here. it was obviously swallowed up by all the trump news yesterday, but arguably the second most important story yesterday was this one. the country s long-term credit rating was downgraded from its highest mark, and that kicked off howl of protests from many. walk us through what happened here. yeah, so s&p ratings as well and this was of course back in
executive office couldn t get too powerful. we have legislative and judicial branches that could serve as waysch to put a check and balan, right, thean separation of powe, talk about the federalist papers and federalist 51 and why it s so important to dust off our middle school and high schoolbooks to make sure we understand the intent of the law and the framers. donald trump supporters don t seem to care. we care about the will of law. we care there s a strain on our over arching democracy, this oc country has always been a work in progress since its inception, slavery, mass genocide, actually not having equal rights for the vast majority of individuals and not even citizens. we ve come a long way. he has shown he doesn t care about the fundamentals of democracyfu and neither does hi supporters. he s doing incredibly well
because he s presenting an alternative universe for them. this is an alternative universe where they can be king and go back to making america great. i think a lot of people of color, a lot of women, a lot of immigrants, know exactly what that meansow when he says that. we should know his likely opponent, joe biden, did not comment. he had a date night with the first lady. dinner, a walk on the beach and a showing of the movie oppenheimer. christina greer, we deeply appreciate you being with us this morning. coming up on way too early, donald trump is trying to turn his new indictment into cash forw his presidential campaign. we ll give you an update on those fund-raising efforts and what the 2024 field is reacting. coming up on morning joe, we ll hear from legal analysts and reporters throughout the morning with reaction to what this means for the country and donald trump s future. plus, inside accounts of the january 6th probe in the house from an adviser and the lead
political woes. take us inside the thinking of house speaker mccarthy, if you will how they re going to approach this one. it seemed a few days ago he was trying to tamp down the impeachment talk and only a couple days later we heard former president trump pushing to do that again. i think this increases the likelihood of an impeachment. i think mccarthy will again say this is distraction. the investigations while hit a fever pitch, john, when congress returns in september. all right, well, jake sherman, thank you so very much and ryan riley, thank you as well. we ll be watching your coverage here here on msnbc. still ahead the country s credit rating takes a hit over the debt ceiling debacle that was resolved earlier this year. we ll go live to cnbc for more on the impkt of that downgrade and a look what s driving wall street and more coverage of the