Resee recovery in retail sales dow down 271 session lows 59 minutes left of trade the nasdaq has been the underperformer is actually off its lows were kind of moving around, as we speak, in the final hour. All the major indexes are lows ahead on todays show, well speak to mike sievert. Well get an upgraciointergrac sprint and the president of the university of arizona will outline his plan for the fall semester as cases and hospitalizations rise in that state. Well focus on the big stories were watching at this hour Steve Liesman with details on todays jobless claims will is digging into Big Bank Earnings and meg has details on johnson and johnsons results. But, steve, start us off with the jobs picture. You know, were getting two different stories from the jobless claims one of improvement and one where the improvement has kind of flat lined. Well take a look at the numbers. Claiming coming in at 1. 3 million. Above expectations dow just 10,000 on the weekly jobless claims thats kind
Treasury secretary digging in his heels on the topic of reopening saying, we cant shut down the economy again, sarah. Gary he cou gary cohn joins us and last month there were more bubbles to come hell join us to weigh in on todays down turn. And the black swan of 020, thats what sequoia labelled the pandemic in march. Well talk to partner roelof botha about how he views the startup landscape right now lets get to the selloff and our team of reporters to break it down mike santoli tracking the plunge Brian Sullivan on energy stocks. Meg terrell covering one big area of the market for the market, the rise in covid19 cases in some states mike, start us off with the broader ugly action that youre seeing in the final hour of trade. There was an easy way to deal with that and hard way we took the hard way a sharp and violent flush, maybe the start of something deeper. I want to point out stops along the way. The easy way is to flatten out the rally and go side ways were below a 5 pullback. T
Albertsons ipo. All of the stories that we cover so closely i know. And banks already rallying today off that deregulation news earlier on the day theyre up 1. 6 at the moment. The top of the s p 500 sector. We have a huge show coming up on closing bell. On the day, we get the stress test results that sara mentioned. Well be talking to the ceo of barclays in a rare exclusive interview. Thats just about five to ten minutes away after the close, the they will join us this is the sign for the first time in months so lets get the pictures here mike santoli is here for the markets. The moves and valuations he is tracking the surging covid19 cases across the u. S. Mike, first to you. We have a pause today in the markets within a pouz. That is similar to a couple weeks ago. We this that big down day number real sustainable followthrough to the down side why is that . It doesnt seem like theyre overleveraged in a way that kree auts a liquidation cycle on the down side. There you see that flat
2. 8 million added well explore if that means a v shaped recovery is coming. 2. 7 on the s p 500. Coming up, retail making a big move higher today as reopening trend ramps up across america. Well with marc metrick about what hes seeing from customers so far and later, are leaders doing enough to address equality daymond john will join us with his list of actions. Lets get straight to the key question of the day. Have we bottom ed were ploex ploering in a number of ways. Steve liesman has e details on the number mike looking at the rapid pace of the rally scott will give us his Market Outlook and well focus in on the soaring Airline Stocks with Raymond James analyst. Steve, start us off on the jobs report and how sustainable it is great question, sara, but a lot o head scratching going on how u were 2. 5 jobs created and no one knew it wall street didnt seem to know it but look, i put together a list here of maybe some reasons how do you get 2. 5 million delta there, 11 million jobs 8.
Of the pandemic. Well talk to mayor of miami about what his city is doing to get back to business in these very tricky times. Power lunch begins right now bob has more on the markets today. Bob. Were grappling with that right now, four to one advancing to declining stocks. The market continuing to believe the primary thing affecting them is the rope ieopening the market believes its going well you heard about the president s tweet. Is that heetsing up. There are people questioning over the weekend any need for more fiscal stimulus saying we sit back and see what happens at this point thats an issue. Three of the four, an issue over the weekend. The russell 2000, small cap. Were seeing banks, retailers doing well were seeing transports doing well today those are airlines this is all the roping stoe ing and the market believing that is koptsing. Most markets are at the highest level since early the first or the second week of march were not seeing dramatic break outs its the same old nam