Market action. Blake burman doing sorting of his own at the white house. Edward lawrence with the fed in a few minutes from washington. Like, to you. Reporter we heard from the commission that oversees the president ial debate, next debate one would be virtual debate. President trump reacted instantly, no, no will not take any part in that whatsoever. Instead his campaign is saying they would like to see the debate happen on october 22nd. Which was supposed to be the last debate and one on october 29th. The Biden Campaign came out said theyre good with the 22nd. That was on the calendar to begin with but they do not believe President Trump can unilaterally dictate the debate schedule after that. That is where we stand. Here is how both candidates reacted today. President trump i dont want to do a virtual debate. A virtual debate is a joke. Im in great shape. Unlike joe i dont have the luxury staying in a basement all day long. I have to run the country. We dont know what the president
Why not, with the latest. Reporter why not. You heard it there, zero Interest Rates basically until through 2023. The Federal Reserve in their Committee Statement saying that they will maintain the accommodative stance until monetary policy, until their goals are achieved in the monetary policy. The Federal Reserve aims to have inflation moderately above 2 . To reach the two target a period of time. This is what chairman jay powell said what is moderate and for how long. Listen. We want to achieve inflation that averages 2 over time and if we do that, Inflation Expectations will be right at 2 and that will help us achieve 2 inflation over time and avoid the situation where the central bank loses its ability to support the economy. Reporter he would not define what moderate was, for how long. Powell fiercely defended Forward Guidance on rates being zero. The fed also made their economic projections, they revised it up. Unemployment rate 7. 6 . 9. 6 in june they thought. End of this year
New details on a possible Coronavirus Vaccine. Edward. Reporter connell that is what is propelling the markets today. We have positive news out of two vaccine makers. The first one pfizer. The ceo of pfizer says they will have enough Critical Data in october to be able to submit for approval should everything go as expected. He has said this before but this is a little different because it comes as astrazeneca saw a minor setback of trials in their vaccine. The pfizer ceo says he sees americans start being vaccinated before the end of 2020. The u. S. Government secured 100 million doses from pfizer this year with an option to get 500 million more next year. As of today, more than 29,000 people are in a phase three trial for pfizer. The fda hopes to have 30,000 volunteers and pfizer says it will be there next week on the way to 44,000 people. Of those, 24 in the study are minorities. That is something that the fda wants to see. They want to make sure this works among a Diverse Group of
Kristina. Reporter we had quite a day today with markets looking for direction but you saw all three major u. S. Averages closing in the green like jackie mentioned. You saw nasdaq hit an alltime high. S p 500 as well as the dow closed for the third day in a row in the green. You had a lot of big tech movers as you know but that led nasdaq higher. I want to focus on two particular stocks. Taketwo interactive had earnings. A big beat. They showed a lot of people, pentup demand for gaming as well in purchase games and you have amd, advanced micro devices, their stock climbing higher today because jeffries did increase the price target from 86 to 95 but there is it still come weakness across the board. A major news story, microsoft about the potential purchase of tiktok, because of that volatility, because of regulatory reviews, that weighed negatively on the stock today. You can see it was down over 1. 5 . Then weve got kodak since were talking about regulatory review, kodak shares we sa
The plus column and big tech really help the nasdaq today but for most of the session weve kept in check after congress failed to agree on the next stimulus package. Nasdaq of 1. 5 in the doubt up about half 8 and that stinky gaining three quarters of 1 . Lets look at the month all three up, up four months in a row, the big winner was the nasdaq almost 7 , look at the s p up five and half percent and the dow up 2. 4 . Apple, new alltime high, worth more than any other company in the world including the oil, facebook hitting a new record height, apple as well as alphabet reported earnings yesterday and investors still cheering the first two, also but shares are down and the Company Reported the first annual revenue decline. Google under a little bit of pressure today. Finally we know who hacked twitter about two weeks ago, a florida teenager accused of being the mastermind of a bitcoin hack on prominent news users that negative 100,000, he did not act alone, to others charged in the sch