Lauren i know, it was a rough one. It is worst day since june. Take a look. There is the damage. The dow retreating from that 29,000 level. At one point it was down 1026 points. So i guess being down 810 is good news . The nasdaq and s p 500 also retreating from record closes. All 11 sectors in the red. Tech and consumer stocks hit the worst. The reason, look, guys, there is a lot. Uncertainty over timing of an effective vaccine. Profittaking ahead of a long holiday weekend. September really living up to its reputation as the worst month of the year historically. Let me show you what weighed the most on the Dow Jones Industrial average. Apple, sales force, microsoft. Along with amgen and home depot. Shaving some 400 points off the bluechip average. On nasdaq which snapped a fourday winning streak. Amd, nvidia, tesla, all of them are lockdown winners. Nvidia doubling this year. Tesla up almost 400 this year. After todays drop it is down 20 in the just the past three days. Were seeing mo
Blake burman at the white house. We have Lauren Simonetti watching the market action. Edward lawrence reporting from washington at the but on this up and down day, lauren, we start with you. Lauren lauren its with up and down day. I had to look over to see if stocks finished the green. It is changing constantly. This is the new normal. Investors are totally unsure how to price in politics. Not just the expected turbulence around the election, but the future of stimulus. Stocks got a major stimulus from comments on treasury secretary Steve Mnuchin he and House Speaker nancy pelosi theyre going to keep talking about a new relief bill as House Democrats reportedly are ready to scale down a package of their own. Doesnt mean it is going to happen up investors like they are talking. We call it the mnuchin maybe, maybe. The s p 500 avoiding falling into correction territory, up, after the closing bell by just nine points. Yes, it is positive on the year by a whole 16 points, guys. Take a look
Today, the covid and convention, but this is a big deal. Im outside in port arthur, texas. That is the biggest u. S. Oil refinery. That is the motiva refinery. It is shut down, flaring some gas. Just a skelton crew. They cant shut it completely down. That is shut. Oil and gas throughout this region shut. But more importantly the people. Take a look at the latest pictures of this morning people getting, the last plane out of saigon almost. The last few buses out of the port arthur dead center in the cone. Were dead set the eye of the storm could come ashore. If it is a cat4 storm that comes ashore, and youre in the wall, you will get quite a ride. You point out unsurvivable water in terms of storm surge. We talked to some folks that stayed in other hurricanes but after their experience, this time they say, im out of here. Trying to stay, when they said it would be category, would end up being a category 4, the possibility we would be in the eye, that is kind of scary. With harvey, we we
In addition to the markets with fox Business Team coverage and our reporter stated by blake burman on the white house northline and Lauren Simonetti and Edward Lawrence from washington, we begin with you, this is been a choppy session. Her reaction was key and i think its going to continue at least through the election as volatility, we had another session of pretty severe swings, over 300 points from high to low, not only on theyre down but also on the nasdaq. And the rally that we had at the open its baited the close once again because tech reverse gains once again so wayne on theyre down, salesforce and apple and the other mega caps stock that has such outsize market caps, they were done today and this week, look at this apple down 7. 5 on the week and netflix down 7 . Their losses were pretty severe and as for the major averages overall selling offer week number two, the nasdaq worst week since march right before the pandemic down 4 , the dow and s p 500 finish today in the green b
And we do have fox Business Team covered set up with Jackie Deangelis in our new york newsroom blake burman across town from where i am in the white house north one, well get to moment blake but jackie we start with you. But took a look at where we finished the day, the s p 500, the nasdaq, the new records, the dow did not manage to get a positive gain for the week but it was positive for the session up 190 points. Their use of s p up 11 points, the nasdaq up a 46, tech continuing to feel the rally and theres the optimism about treatments and vaccines when it comes to the coronavirus as well as slowly reopening the country and getting the economy back to business, that seems to be happening and investors are grasping onto that, you could say momentum from the convention depending on how you want to read that statement, having said that lets take a look for the week as well because we are seeing the markets, mostly in the green, the s p 500 and the nasdaq showing a weekly gain, the dow