The nasdaq is up second day in a row. That looks safe. First backtoback gains for the nasdaq in two weeks. We have that. Well have a lot more to cover with fox Business Team coverage. Susan li standing by in the new york newsroom. Well get to susan in a moment but we start with blake burman on what was very busy, important day at the white house. Blake . Reporter historic as well. I will keep this short. Were probably getting the president s comments shortly any moment from now. A historic day at the white house where the president of the United States was joined with the israeli Prime Minister with two leaders from arab nations to sign a peace deal. Israel and the United Arab Emirates and israel and bahrain. President trump said he believed there could be five, maybe even six more of these peace deals in the middle east in the works to come. The president suggested that this could be a domino effect saying that he ultimately believes it will lead to the biggest middle east deal of all
The nasdaq is testing the lows hit during last weeks threeday selloff that sent it into a 10 correction. Any more than a 206point loss for the nasdaq and we right now are down 212, so yes, we are now deeper into that correction territory. We knew the pandemic absolutely crushed the travel industry but now booking holdings, forced to take a draconian step ahead of the Holiday Travel season in order to stay alive. The ceo of booking is here to tell us if hes at least starting to see a shred of light at the end of a very long lockdown tunnel. Plus we are on the ground in florida after the aftermath of Hurricane Sally. A money manager to sports star shares his covid stock picks. And new evidence of a coming coronavirus foreclosure disaster. Less than an hour to the closing bell, lets start the claman countdown. Liz weve got to get to the hottest software ipo of all time. It is now getting iced over, with about 59 minutes left to trade, take a look at snowflake, falling hard after yesterday
Here all three of them in the red today. As you just saw the dow finishing down 130. The s p down 28, the nasdaq down 140. We were concerned it was going to slip further into correction territory. Did not do that but not by a lot, my friends. What was going on there . Big tech, momentum stocks having the most trouble here today as we start to think about the recovery, is it real, whats going on with the concerns that the improvement in the economy may not be what we need . The momentum stocks, apple, amazon, youre seeing them here on your screen, microsoft, google, facebook, all down more than 2 . There are big concerns about valuation. Are the stocks too rich. They led the downturn today. They are extending declines from yesterday. I should mention here tesla snapping a five day winning streak. That is not nothing. What was at the roots of concerns . Concerns about the recovery. Weekly jobless claims coming in. 860,000 workers filing unemployment claims. That is below one million for
Mcshane. Didnt quite get there on the s p. Were live from joe bidens hometown. Scranton, pennsylvania. Ahead of the presumptive nominees speech tonight at the Democratic National convention. I spent a lot of the day speaking to owners and Business Leaders in the area. You will hear a lot of that throughout the hour. First the top stories. Fox Team Business could have with gerri willis keeping an eye on markets blake burman at the white house as usual gerri, we start with you. What a difference in the markets and what a difference the a day makes. They are shrugging off recovery concerns. The dow powering ahead. The dow on pace to snap a threeday losing streak. It did just that. S p up three of the last four sessions. Nasdaq was the star here. You remember back in march we were under 7,000 . Closing at 11,264 to be exact. Apple, guess what, they have the two trillion dollar crown. That is new market cap for apple. Shares hitting alltime high. Unbelievable at 2,012,000,000,000. Apple is
Lets get papers from 10 years, every paper, every deal he has ever signed. Maybe we can find where some lawyer made a mistake where they didnt dot an i, where they didnt put a comma down someplace. Then we can do something. This is a disgrace. This should never ever be allowed to happen again. Thank you very much. Reporter mr. President on the russian opposition leader, hospitalized they think he was poisoned. Is that the u. S. Governments determination . President trump we havent seen it yet. Were looking at it. Mike will be reporting to me soon. Okay . Thank you very much, everybody. Neil weve been monitoring the president of the United States. He made news of a lot of issues directly responding to the judge to dismissed the trump efforts to block manhattan Districts Attorneys Office from financial records dating back to the days he with as businessman. The president termed that a fishing expedition. Pretty clear he will not turn over anything right now as this appeal process goes on