S p 500 few you ares up 15 the nasdaq with a gain of about 1. 7 all because of what is happening with four big horseman check out shares of apple, facebook, alphabet and amazon. They went before congress two days ago and came out with earnings that knocked it out of the park on every one of those counts three of the four are trading sharply higher apple up 6. 1 , facebook up 5. 8 , amazon up 5. 4 alphabet did beat earnings estimate did post the first revenue decline and is down 0. 67 . More on those in a second. Lets kick it over to wi will everyone wilford. Good to be back extraordinary numbers, as you said well discuss those in a moment. First check out this mornings agenda as we are closing out the week well bring you results from cat, chevron, exxon and merck. Kol gate, underarmor and others. The late day of july lets check out the market score card owl three major indices on track for the fourth straight gains. Nasdaq the big oner up 18 month to date up 5. 2 . This past week, back
Jones industrial average up 16 points but its the nasdaq thats breaking out of 88 points on the nasdaq this morning and s p futures up 4 and 3 quarters staff largest Economic Contraction in u. S. History yesterday, another uptick on unemployment claims push selloff i didnt do, the dow industrials at the close yesterday still the dow, nasdaq and s p 500 on pace for fourth straight month of gains with industrial up on final day of july. Economic recovery, where is the economic recovery headed and what can the fed do to support it . Coming up at 8 10, chief investment offer rick is here and you dont want to miss valuable insight and commentary stimulus stale meat, still no deal with extra unemployment expiring today. President trump does not want to see election day move but also does not want to see fraud. U. S. Appeals court said to reconsider dismissal of his case. Coming up 8 30 a. M. Congressman jim jordan will weigh on latest moves on flynn, the congressmans fiery take away as well.
Record territory. A lot of good stuff in the markets. Well talk more about it. Fox Business Team coverage. Blake burman, Hillary Vaughn reporting from washington. All the talk about what the next stimulus looks like. Blake we start with you. Reporter connell, very public signal from President Trump and his administration, the next steps of negotiation will start to take place today, as we saw the president in the oval office on one side of him. The Vice President and the treasury secretary on the other side of him republican leadership. We heard the president say again he want as payroll tax cut. We heard Mitch Mcconnell say once again he wants Liability Protection for businesses. We heard the treasury secretary spell out other items on their wishlist. Well have tax credits that incentivize businesses to bring people back to work. Well have tax credits for pp e. For safe Work Environment and well have big incentives, money to the states, for education, for schools that can open safely.
After an unexpected spike in jobless claims. New fears that the u. S. Economy will not recover any time soon. Amazon, alphabet all dropping more than 3 . Microsoft falling on the back of its Earnings Results after reporting a slowdown in the cloud and even tesla dropping, despite beating earnings. For more on the selloff, i want to bring in Abigail Doolittle who has been covering the back and forth. Investors see reacting to the bad news, which honestly we see week after week. What drove the pessimism today . Reporter its funny you should say that because we finally have something to talk about. Instead of all these choppy little intraday volatility days, it has finally translated into closing volatility. The s p 500 down more than 1 , its worst day in about a month. The nasdaq 100 down more than 2. 5 . Its worst day in almost two months. Index chip index also lower. And behind it, all those mega cap numbers. Even though the selloff hit midday, that was the first rise or move in the wr
At 4. 8 , premuch in line with expectations. 1. 8 , worse than expected. Retail sales are the weakest link in the recovering story in china. Than what the market was expecting. Property investment year to date coming in pretty much at 1. 9 . Versus an estimate of 1 . We also have the jobless rate coming in a tad better at 5. 7 versus 5. 9 . Which was expected by the market. Overall when you look at the economy, it looks like it is adding to signs the economy is picking up momentum. China probably will be reflecting in the rest of the world. Yvonne one of the key disappointments is still the consumption side with retail side still amiss in a negative fringe for a fourth straight months of 120 . About theuestions back half of the year. But the gdp is still the stand out. Take a look at the adjusted quarter on quarter. We are talking double digit growth of 11. 5 . The highest quarter on quarter at least nine years for china. This is how we are seeing things play out in the markets. Seeing