The transition process starting to kick in. Tom not only the good news, but just as much as there was no bad news today, and that gives a lift to equities and other adjustments in the market. Jeffrey currie will join us from Goldman Sachs, which is wonderful. Futures up 27 and we will talk about the data in a moment, but yes, chair yellen front and center in this historic moment for our politics. Francine lets get to bloomberg first word news in new york city with ritika gupta. Ritika President Trump is finally calling on his agency to cooperate in the formal transition process with joe biden. That follows weeks of inaction. The General Services Administration Made its official made it official with its acknowledgment that biden was the winner of the election. Still, President Trump says he will contest the outcome of the vote. Formeren has turned to fed chair janet yellen to be his treasury secretary. She would become the first woman in the job if she is confirmed. She is likely to wi
Because of it. And the retail divide continues. Walgreens and Bed Bath Beyond getting crushed today following weak sales updates and the staples names like walmart and costco are higher. The s p 500, were 59 minutes left of trade. Its not there the nasdaq is up 0. 6 . The s p 500 is a little bit lower. Just a few moments, well speak with alpha one capital dan niles about the market selloff why tech in particular has been outperforming and what to do now. Plus, former treasury secretary jack lew will be with us to weigh in on joe bidens economic plan and work from home winner service now, it is up 50 on the year Just Announced a new partnership with zoom. Bill mcdermott will be live to discuss. Another very strong day for the cloud names. Lets get straight toour big story of the day the market selloff mike santoli is tracking the action all day long which does appear a bit better in terms of the losses, mike yeah. This was a day when we sold the rip in the morning and then bought the di
Before rebounding to finish up almost 5 , recouping half of the losses from mondays 2,000 point selloff. Jim, remember when we couldnt get a 1 move la last 12 sessions, s p moved 3. 5. The market feels broken to me not a lot of liquidity many things happening at night youll see the Interest Rates go down at night. Then suddenly the s p is having a nightly session. We have to play by that tune i get it theres i want to say theres not panic. People want to get out if there were people, you would see endless downing endless down you could say buyers will come in i was listening to jim paulson before, he sees a lot that he would like i dont. You dont no. I like utilities i like the drug companies, i like the highest growth tech, teledoc. The rest sell to you people are buying Royal Caribbean right here as if its like a buying opportunity. A lot of people using the term buying opportunity, b. O. , for things no. No, to b. O. As you might expect, people are focusing on the credit markets and
Making money. Charles stocks sinking as markets are now looking to the white house to mitigate the Economic Impact as people shut in and nation shuts down. President trump meets with bank being executives in an hour as everyone holds their breath for answers. He was a noshow last night at the presser, stock futures turned decidedly south, pressure normally used to bully the Federal Reserve. This is it. America elected President Trump for this very moment. So what must he deliver today . I want to bring in rosecliff capitals mike murphy. Kaltbaum contributor, gary kaltbaum. What do you think President Trump has to do or say today to calm these markets . Anything . Look i remember in 87 reagan came out and said if you believe in the long term future of this country you have got to own stocks. That is all he said. Were dealing with Something Else right now and its this virus. I heard some Administration People talking about the economy, the economy, the economy, but right now the virus is
Cloud business well dig in to those results. Thanks. Checking the markets right now the dow is up 136. The s p up 14. These are about a third of a percent. About half the gains we saw earlier on, while the nasdaq is hanging on to its rise, and its been leading the pack all day. As tyler mentioned, check out amazon up 10 , nearly 150 billion in market cap added after its Earnings Report last night its also boosting other cloud stocks like data dog and snowflake, which are among them. Apple falling after posting sales decline for the Third Straight quarter there you can see there is snowflake and data dog apple down 3. 5 . But lets get right to bob pisani with the question we posed off the top. Is this the perfect goldilocks jobs report . The important thing is nobody is that worried about apple down 3 its the jobs report bottom line is job growth is slowing down but not too much thats what kelly means with goldilocks it was afine needle to thread, but they really did it on this jobs rep