The careful counting of every ballot. Mr. Biden asks for every ballot to be counted, mr. Trump says he will go to the Supreme Court. Good morning. The news flowing every hour. Francine lacqua, it is pretty much as we expected, and we have not only seen the political results but the market gyrations in the last 24 hours. Francine tom, there are two outcomes the markets were fearful about, and those outcomes can much more possible in the last 24 hours. First, the joe biden presidency with a Republican Senate. We could have that. It is still mathematically possible. The other one, of course come a very contested election. If you listen to what President Trump said about an hour and 10 minutes ago, it is very clear that he wanted to go to the Supreme Court, ask that the Supreme Court step in, because unclear why, tom, because we are still counting votes. There is absolutely no evidence that something has been done wrong, but certainly fighting words from President Trump, and that will put
Today, but you are absolutely correct. We have ebbed away in the last few hours or so. The events over the weekend are absolutely extraordinary, and they are original and unique versus other times of unrest in this nation. Gatesan and the of the and the events of the weeks to come will be remarkable as well. The equity market is totally unchanged at 7 00 a. M. Eastern. As we count people down to that payrolls report this coming friday, we are approaching 20 unemployment. Tom my calculation over the weekend from research 18 s is 70 to unemployment, and the model above that other people who get 2 21 to to 22 unemployment. Americans, unemployment could be 30 . Lisa theres a tension right now between improving Economic Data and the backdrop that is really bleak of rising Unemployment Rates that have decimated certain communities. Today, are looking at ism manufacturing data at 10 00 a. M. Wall street time. People looking for any signs of improvement underneath that. Then there is the ecb c
Tepper and Stanley Druckenmiller both say stocks are overvalued u. S. china tensions flaring again as the fbi warns that chinese hackers are targeting covid19 research firms. We have a big lineup of guests today to help break down this selloff including bill mill miller, david harrah, david ruinstein and Liz Ann Saunders from Charles Schwab. Down 550 points, down 620 moments ago. Weve got full Team Coverage of todays market downturn. Scott wapner, mike santoli, and Steve Liesman with us. That bearish call from apple when asked about Hedge Fund Manager Stanley Druckenmillers assessment that the risk reward in the market is, quote, maybe as bad as ive seen it in my career, heres what he said. Its definitely as of yesterday, now the market is down from yesterday, i would say that, you know, 99 was more overvalued than 2000 but, yeah, i would say its one of the most overvalued markets, maybe second most overvalued i seechb the market is pretty full but theres a lot of liquidity there. Its
In what minority leader Chuck Schumer called the largest rescue package in american history. Boeing and the Airlines Getting a huge lift on the back of that stimulus package with some names up 20 or more and treasury yields pulling back today with onemonth and threemonth yields in negative territory for the First Time Since 2015 weve got a great lineup of guests for you today including two key players in the global food chain the ceo of yum brands, they own cfl, pizza hut, and taco bell, keeps some open for pickup and delivery the ceo of mondelez, the steps his company is taking for his workers to keep that food on the shelves. Lets focus in on the big stories we are watching today. Mark santoli is tracking the market but kayla has the latest details on the massive stimulus package and when we can expect it to actually pass. Sara, the text of the legislation was circulated around 10 00 this morning before republicans and then democrats in the senate held respective calls with the treas
Quarter. The Second Quarter is probably going to be weak. In fact, in the view of many, output declining output lower in the Second Quarter than in the First Quarter. After that, its very hard to say how big the effects will be or how long they will last thats going to depend, of course, on how widely the virus spreads, which is something that is highly uncertain and i would say in fact unknowable jim, so its just you and me today. Lets start broad. Get your thoughts on the last 72 hours. What are you thinking right now . I think that the one thing i was very worried about in the 2007 and the 2009 issue, could i take out 50,000 from Jpmorgan Bank because i was concerned. And i took it out. I took money out of a lot of Different Bank accounts. This time im not. What was the purpose of last night . Theres a lot of things. The purpose of last night was to make sure you didnt take money out of the bank because you didnt trust the system. You dont have to bury it. That was important now the