Comfortably. Hawkish headlines on china and weak Economic Data both weighing on market sentiment. The dow is down 300 points yearly it was down 350 about 20 minutes ago. We have 59 minutes left in the session. Big show coming up four. A true 2020 winner, et ceteray stock is up 250 this year we will talk to the ceo Josh Silverman about the holiday crunch and whether his companys momentum can continue. And arthur blank, cofounder of home tee poe, owns the Atlanta Falcons and atlanta mls team as well lets focus first on the stories we are watching today. Mike santoli is tracking the Market Action into the close meg tirrell has a vaccine update and phil lebeau has an update on nikola, that stock down020 today. Mike santoli first to you and the markets. A mild shake of the tree. Indexes backing off. Some of the stuff that was up the most this month is down the most today seems like a little bit of trimming there are probably unbalanced portfolios there you have we are roughly capped we were
How to rein in the coronavirus pandemic. Kamala harris, as well as members of bidens Coronavirus Task force, were also on the call. Biden reportedly told governors they all share a common purpose, regardless of which Political Party they belong to. He also reportedly promised state leaders he would make sure they get the sources they need to beat the virus. The u. S. Has been hit hard by the pandemic, with over 11. 5 million total cases. More than 250,000 people have died. Following the call, biden spoke to reporters. He tried to reassure people that his pandemic plan targets the virus, not their livelihoods. I am not going to shut down the economy, period. Im going to shut down the virus. Thats what im going to shut down. So i say again, no national shutdown. No national shutdown. Because every region, every area, every community can be different. He was also asked about president trumps refusal to concede. Biden described trumps recent actions as totally irresponsible and damaging to
Disaster. Monetary policy works through emulating aggregate demand and that is important now. Ultimately, there is a job to replace lost income. Our congress stepped in and there has not been a faster or stronger response from congress to an economic emergency since the great depression. The cares act and other laws have been passed to more than offset lost income in the aggregate. There will be people for whom that is not true. You see high levels of savings on the Balance Sheets of households. Not experienced the downward cases we were worried about of mass insolvencies of businesses so far. So far, so good, i would say. There are no full recoveries without confidence. Do, which ipart to think we have done. The path forward will be challenging for a number of reasons, and i am sure we will get into some of them. Congresso do more and might need to do more with fiscal policy. The particulars of that are up to congress and not up to us. It is likely more will need to be done in time. O
Before the first tuesday of november. From london, new york, on radio and television worldwide, we are thrilled you are with us. There is market turmoil. Futures terrible earlier, now doing better. We are going to talk really interesting dynamics of the depths of the market, which is foreign exchange. We will do that in a minute. Got to look at a president who launched 10 tweets last night somewhere in the vicinity of 2 00 a. M. The president says, watch the great red wave, and that goes to his hope on tuesday. Jonathan and wasnt that the perfect gdp print to take on the campaign trail . Heres the number. Dont mention it is annualized and how big it is. Is it too late to make a difference, given how maybe will given how many have already voted in this election . The difference this time around. S much wider than we have seen at the end of the election, it in a two point lead clintons favor. On the focus of the morning november 4. Somewednesday we will have special coverage for you, but
It is a team that will keep our country and our people safe and secure. Its a team that reflects the fact that america is back, ready to lead the world, not retreat from it. Biden held a News Conference on tuesday. He was joined by Vice President elect harris and the individuals he selected. Most of the nominees must be confirmed by the senate. Antony blinken was picked as secretary of state. He was deputy secretary of state during former president obamas second term. He nominated former deputy cia director haines to be the director of national intelligence. She will be the first woman to hold that post if she wins confirmation. Alejandro mayor casse was nominated to be the secretary of homeland security. He will be the first latino and first immigrant to fill that role, if confirmed. The News Conference was held one day after the countrys General Services administration cleared the way for the transition of power to officially begin. But President Donald Trump has not conceded defeat.