Coming after yesterdays euphoria that is part of the momentum growth trade materials and industrials are the only sectors in the green. We have a few more ipos and awaiting more news on tiktok and oracle it will be busy coming up on todays show, mohammed elerian will join us on the on going stimulus stalemate and well speak with Jim Fitterling and shares of Cybersecurity Firm Palo Alto Networks up 80 from the march lows as companies boost protections for employees working from from home the ceo will join us to discuss that trend and much more lets focus first of all on the big stories youre watching. Mike santoli is tracking to days volatile Market Action we have the latest on stimulus in washington and sara has new reporting on the oracletiktok sag yachlt mi saga mike, markets down 1. 4 . The ive been heavy tape all day. We continue this process of sort of undoing that august overshoot to the upside. Ive been focused on levels that we saw back on august 11th thats about 3333 we closed
Out what the Federal Reserve is going to do to rev up the economy. Big speech coming from chairman powell. Odds are hes going to talk about inflation. He wants more of it. If thats correct, hell be printing a lot of money. Literally seven minutes from now make that nine or ten minutes from now, we will be allowed to give you the official word. And, by the way, thats what the markets waiting for. The dow jones average is coming off the dow is going to be down about 22 points, roughly that way. Lets see what happens when we get the feds announcement. The s p, thats coming off its 18th alltime high. Down a couple of points at the moment. The nasdaq is coming off its 38th alltime high. We did receive news of just over one million new jobless benefit claims last week, no noticeable impact on the market on that. That market, the investors, theyre really waiting for the fed. Five big tech stocks, theyre coming off record highs. Here they are this morning, premarket. Apple is up some more, but
Claims. 1. 3 million last week, and that is the 15th weekly decline, so the downtrend continues. However, 17 million are still unemployed and still collecting benefits. Ive got two big tech stories for you. First off, the twitter hack. Fake messages appeared from big name celebrities. It was a bitcoin scam. The important point is the hackers took over the platform and could have sent out messages to disrupt the market or the election or anything. They showed they could do it and that is a huge problem. Stocks way down. Second tech problem, the top court in europe will restrict the transfer of the personal data of europeans to american companies. They are worried about our surveillance of them. This could severely disrupt big tech operations and big tech stocks are down. While stocks generally are moving lower, especially those technology issues, the dow, we are looking at a minus 180 at the opening bell, down 21 for the s p and really, the nasdaq taking it on the chin. Again, technolog
6263 people have now died in our state with 100 deaths reported yesterday. Hospitalizations are also up almost 3 . However, icu cases are down slightly since yesterday. One area where Health Officials dont want people to go this Holiday Weekends beaches, especially those along the San Mateo County coast. With cases on the rise, new beach closures are in effect and they will last throughout the weekend. Some of the reaction to these closures. Reporter the last thing san mateo Health Officials want a large crowd right now so their message is, if youre thinking about going to any of their beaches, think again. The sign of the times in the air of covid19. Fearing a migration throughout the bay area this weekend, city officials closed all beaches on the San Mateo County coast from sunrise friday to sunrise monday and that includes here in pacifica and Half Moon Bay. They have to do it. Its not going away. The numbers are getting worse. Was turning people away and some were not happy about i
Coronavirus cases continues to rise even here at home kron fours gayle ong joins us live in galle he talked to invent Infectious Disease expert who says that these numbers that hard to understand exactly what they mean. Yeah i can among the experts weve been hearing from a lot saying that these cases and deaths are under reported and thats due to limited testing early on and asymptomatic people. Testing capacity has grown in the bay area and beyond to perhaps the reason why were seeing a rise in covid19 cases and deaths that the case counts are going in the right direction that is down thats good that theyre going up. Well maybe its because were casting but more likely theyre going up because the acres have changed in more people have gotten on wednesday. John Hopkins University reports the nations death toll surpassed 100,000 people since the first u. S. Recorded death from covid19 less than 4 months ago 100 thousands are real watermark this epidemic in the country doctor George Ruthe