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
Louns lou announced he is stepping down from his ceo role. And scott minerd will tell us why he doesnt think investors should be buying just yet. We have josh here welcome back to you. Interesting dichotomy setting up in the market. The stayathome stocks versus the gooutside pelaton was just hit on power lunch and netflix, zoom, are all outperforming and the goout stocks, the restaurants, the ubers are all getting hit. Theres the pocket of green there. Yeah. Look at live nation they do concerts. Yeah. Theyre thinking people are not going to go out if and when coronavirus comes here in bigger numbers. So the thing with that is that the danger with that is buying into a narrative because the narrative could be popular for two days and then all of a sudden it goes out of favor and people are like what was i thinking why do i own this stock . Because i think people are going to sit home . However, i do own zoom and another name thats been ripping, teledoc this is virtual doctors visits im
You are looking at a live shot from the white house we show that to you because in about 90 minutes, expected around 6 30 eastern time, the president will hold a News Conference on the outbreak we will bring it to you live as soon as it begins. Of course we have a special markets in turmoil coronavirus outbreak all joined in one hosted by the great Tyler Mathison in the meantime, were going to get to the macro market, but we want to begin with breaking news on one of the Biggest Companies in the world, microsoft, warning its windows unit will miss guidance for the quarter because of, what else, concerns about the virus. This is the latest company to cut guidance due to the outbreak microsoft shares down 1. 3 in the after market i would imagine that we had a few united and others, we will probably have a couple hundred more of these is my guess. Mastercard was a huge one as well listen, microsoft on january 29th gave guidance, and this was one of the things. First of all computing is pr
Good wednesday morning, im Carl Quintanilla with Morgan Brennan and jon fortt. The president this morning set to tour the mac pro Assembly Plant with apple ceo tim cook. Eamon javers will raise the curtain on that this morning. Reporter youre playing just the two of us and it is going to be about just the two of them. The unlikely relationship between donald trump, the president of the United States, and tim cook, the ceo of apple cook has spent the past several months cultivating a relationship with donald trump largely, im told, by going through the trump family having conversations about technology with Melania Trump at dinner at the white house. Talking with ivanka trump about workforce issues hes cultivated that phone call relationship with the president. I asked the president why he seems to have such a good conversational ability with tim cook the president told me a couple of weeks ago, the reason is because cook is the one ceo in incorporate america who actually picks up the p
Tom, great to have you as always thanks for the time today. Great to see you, carl. I know youve been leery of the month of august in general did this mornings early tone do anything to change that . Yes and no. I think there are some constructive things that happened today that make myself and mark, head of technical strategy, think were actually in a bottoming, possibly for the month of august. The dollar reverse,ed sharply, and yields turned down, and as you know, both would be pretty big headwinds for stocks as we got into august, its been a rough four days so far, but i think the jobs number was pretty decent and then i am kind of optimistic that were going to get a good cpi report next week. So, thats kind of a road map to seeing stocks do better next week yeah. We have had a lot of chatter today about what cpi is going to bring us i think you could maybe argue the tone is relatively optimistic given what we think used cars and rent is going to do in the coming weeks yes, thats r