Earlier like they were headed to brand new record highs. Not so now. We do have the Dow Jones Industrials down 143 points. Ciscos poor earnings is pushing that index down. S p down 11. Nasdaq just higher by 19 points. Not the same at all for apple. Apple hitting yet another new high as it closes in on the 2 trillion market cap. News breaking of its new plan for subscribers to bundle the apple joy so which Companies Might want to dive for cover . We are taking a deep dive into the apple barrel, online contactless auto sales winning the race during the pandemic. Why are investors hitting the sell button on the hottest used car deals in cyberspace . We will ask the vroom ceo because hes here. And musicians still resorting to zoom with no live concerts and broadway still closed. But that does not pay the bills. Enter the chairman and ceo of the Recording Academy. The man behind the grammys. What hes doing now to help artists with their strings cut by the pandemic. Its a fox business exclus
In may, it was revised to a gain of three million jobs. Initially a drop of 2. 75 million was reported for may. Thats a huge revision and a very bullish sign that the economy is ready to come back once it reopens. Also, by the way, we get the jobs report for june tomorrow. A gain of three million jobs is expected as the nation begins to open up and by the way, larry kudlow will join us on that very subject tomorrow morning. Do not miss it. We are seeing a battle, meantime, between government and business once again as cases of the virus rise in some areas. In houston, the mayor putting several businesses on a socalled wall of shame on the citys website after they defied lockdown orders. Those businesses, all bars, by the way, not happy at all. In arizona, a gym owner is suing the state over the order to shut down again and is vowing to remain open despite those orders from the governor. Confrontations are arising. Another battle as we head towards the long Holiday Weekend, whether or n
14 points. What is going on here . First of all, there are clear signs the lockdown is ending and the economy is expanding. Theres been a big jump in Mortgage Applications and a surprisingly small drop in private sector jobs in may. We are going to check the other indicators for you. They proiare pointing towards growth. June appears to be the turning point. As for urban unrest, look, its very hard to be positive when you see razor wire around saks fifth avenue in new york city. Overall, violence was down last night. Peaceful protesters were out in force and that, in my mind, is a very good thing. Green shoots, something positive this wednesday, june 3rd. Varney company is about to begin. Stuart i think the story of the morning has to be calm. Protesters turned out across the country last night, some defying curfew orders in major cities, new york and d. C. , but it was by and large a calm night. A welcome contrast to the past few nights of mayhem and looting. Now, the night was not fr
Results for its vaccine, phase one trial in humans. Weve got a lot more on this coming up in just a moment. But this is a very positive development. When this was announced the stock rally that had already been in place gained a lot more ground. One more positive indicator for you. Thats the price of oil. We are back to 32 a barrel. We are driving again, we are emerging from a lockdown, demand for gas and oil up and up goes the price. Key indicator. Now, look at this weekend. All across the country, people were out and about, enjoying the weather and enjoying their freedom, too. There has been some relaxation of lockdown rules in 49 states. Connecticuts the lone holdout. They open up in just a few days. Bottom line, the economy is opening up and in most places, people feel willing to shop, eat out and socialize. Its hard to see how the authorities can reverse course and clamp down all over again. The genie is out of the bottle and the Moderna Vaccine news is the icing on the i can kcak
Weve gone from 18,000 on the dow to well above 24,000. Look at this. The dow is going to be up over 700 points this morning, firmly above 24,000. Thats a gain of over 3 . Weve got a 2. 5 gain on the s p and the nasdaq, 1. 7 . Now, that is a friday morning rally. Boeing sure helps. It is reopening plane production at a plant in Washington State. There are major gains all across the board, especially for big tech. We will have details on that in just a moment. But look at this. The price of oil, sinking. We were all the way down to 18 a barrel at one stage this morning and right now, we are back to 17. 77. Just as plans are being made to help the flat on its back energy industry. Gas prices, look at this, down again. 1. 82 is your nationwide average and its still coming down in wisconsin. Can you believe an average price in that state of 1. 25. I will say it again. 1. 25 in wisconsin. All right. Can you believe this. Speaker pelosi says no to more help for Small Business. The money has r