Men arguing before congress that the country needs more stimulus money to battle the coronavirus. Wait until you hear who and which industries fed chair Jerome Powell and treasury secretary Steven Mnuchin say need it the most. We will have a live report from d. C. We are 90 minutes away from teslas ceo elon musks big reveal. It comes at his shareholder and battery day event. We have a bull bear debate ready on musks latest brainchild and his argument for the death of the internal combustion engine. Plus the one thing ceos never want to hear. Nelson peltz is on the line, the famed activist investor formerly taking aim at comcast, he thinks the Parent Company of nbc, peacock and universal, is undervalued. We are bringing in former ceo of at t broadband. The cable industry legend weighs in on that, whether sports on cable is dying and his latest spac investment. He was early on the spac train. Is it a National Security threat or just business . The confusion now swirling like a tornado ov
Possible and on testing the American People really deserve to know that when we began, as you said, mr. President it, was literally a standing start. We didnt have information on the coding of the coronavirus until midfebruary but americas cdc labs and Public Health labs did their level best. By the end of february we had done less than 10,000 coronavirus tests but as you Just Announced a few moments ago, last week we cleared 100 million tests all across the country. It is extraordinary. We have the capacity to do three million tests a day. It is a testament to American Innovation and the leadership youve provided. Also, mr. President , weve delivered to nearly 14,000 Nursing Homes in america point of care tests already and are making it possible for us to really keep focus on the most vulnerable. As you know only 8 of those who have contracted the coronavirus are in Nursing Homes but 40 of those that have lost their life have been in Nursing Homes. So weve surged those resources and s
World and its not necessarily a disaster or risk for the market, that is collective and i thought i would pass it along. We will be looking at the mail about it under ballot situation, and new theory being pushed that sends more democrats seem to be voting by mail, you could have a situation where on election day itself since republicans tend to favor voting in person the early results on election day could favor donald trump and then the mail and results which take a little bit more time to tabulate in places like pennsylvania delayed up to six days, you dont have a clear winner because neither side is budging, its kind of an interesting conundrum, particular in the bottle around states, we will be monitoring that we also have the ceo with us, that is a very, very popular means by which i would just say everybodys taken advantage with airports in a beach traffic and all of that. , blake is doing okay through all of that, we will follow that as well. In the meantime the dow is about 32
Reporter what a difference a day makes, right . A major turn around for the markets. The dow on pace to snap a threeday losing streak. The s p and nasdaq on pace to snap a fourday losing streak. The dow up 139. Nasdaq up 184. It is all about the technology, my friends. Apple, amazon, microsoft, google, facebook all up today. Amazon leading those fang stocks. Why . Bernstein upgraded that stock saying the selloff in that stock was a good reason to buy. Dont hold back here. What the bernstein analyst had to say. What else is going on . Interestingly tesla, battery day, weve been talking about them on the network all day long, right . If you want to know what the big money thinks, guess what . One analyst says this would be a snare tiff change for tesla. An important day. Stock is down as you see. What is going on . Elon musk saying company will not likely reach selfsufficiency in batteries until at least 2022. Well definitely watch that, well definitely watch battery day. So far not so g
As a matter of fact. As it closes it is closing lower, dragged down by renewed weakness today in the big tech stocks. Also energy was weak. So all of that, we will have in detail for you. The dow down about 400 points. Welcome to the show, everybody, im connell mcshane. Melissa wow. That was quite a press conference there. Im Melissa Francis and this is after the bell. The dow and the s p 500 closing down more than 1 after the biggest rally in at least two months. The tech selloff pushing the nasdaq deeper into the red after its largest gain since april. We have a lot of news to get to today. Fox Business Team coverage to cover it. Lauren simonetti following the markets. Blake burman is live at the white house. Hillary vaughn has latest on covid relief package. Kick it off with you, blake where all the action is now. Reporter we saw President Trump here as the closing bell hit and the topic again was tapes and conversations that the president had, 18 conversations, nine hours worth wit