1. 8 trillion. And jobless claims disappointed the street coming in at 898,000. It was the highest rating since mid august. Rising coronavirus cases in europe and the u. S. Affecting sentiment. 59 minutes left of trade down only 23 on the dow. The european measures definitely weighed on european markets. We have improved since the european close coming up, we will speak with gregg lemkau about how the pandemic changed the m a landscape. Plus the ceo of zoom will talk about the companys efforts to branch out beyond video meetings and the stocks run thissier. Fir mike, lets start with you the Broader Markets well off the session lows. A resilient showing throughout the last few years. You mentioned the market lows in the u. S. Were just before the european close perhaps that was one of the bigger pressure points, the overseas action. Where it has taken us though is really hasnt disturbed much of the trend. This is this area. Last week we broke above this range we have been in for a while
Is that it will always be. Brianna tailless family 2nd talk is attorney general failed her and vow to keep protesting until the officers who shot the charged. And thousands of people travel from across pakistan to protest over the mysterious death of a family in india. They began in egypt where at least 2 people are reported to have been killed after thousands to find a Police Crackdown to protest against the government for a 6th straight day dozens were arrested in raids ahead of the demonstrations but that didnt stop people expressing their anger of a corruption a deteriorating economy and poor Living Conditions and demanding the resignation of the president abdel fatah Sisi Jamal Michel reports. Despite the threats of arrest or even death egyptians took to the streets in several areas across the country on friday. They dubbed it the friday of reach to demonstrate their opposition to the rule rather than fatah to c. C. And among the tea resigns. Slogans like this so you tell too loud
Rise chip makers rally as apple asks suppliers to ramp up chip production cnbc learns bytedance has chosen the u. S. Bidders. A report beijing may need to approve any deal a very warm welcome to street signs. We have been digesting fresh manufacturing pmis this morning. We have heard on individual country basis already. We are awaiting the eurozone number you can see the euro has been holding firm it has been a little bit of a mixed picture with france and spain slipping into contraction. Germany and italy have held firm above the 50 mark. Based on indicators, investors were expecting a little bit of t final manufacturing pmi in line. The mix of Different Countries coming together that means the overall region has come in line with expectations. Not just europe but we got chinese data overnight and has expanded in the fastest rate in almost a decade. Thanks to a rebound. The survey came in at 53. 1 in august the fourth consecutive positive month. Ill give you a check on Chinese Markets
Predictions and youre making another big one. Why next week for what you call a monsterous rally into your epicenter stocks happy friday. We took a look at what happened the last time cases peaked which was late april it took 20 days last time. If we look at the current context, daily cases peaked july 27th the 20th day would be august 14th we have been seeing consistent 7day decline in average daily cases but our clients are thinking this is in the middle ground theyre not clear if its a decisive move. I think it takes another week. That will happen next week and i think lit be violent sdp you think people are ready to get out of these stocks that have been so tried and true. Nasdaq closes above 11,000 clearly money wants to go into big megacap growth yes i think megacap growth is cheap as a bond proxy because youre paying 50 times for an investment bond. Paying 30 times for faang isnt expensive. These are the names that have been written off by the market its only 26 of the market ca
Against the pandemic and when were losing, we buy the cramer covid19 index. Oh, i wish there were more to it than that. But when the virus seems unstoppable. You go back to the wealth and buy the stocks of the companies regardless of valuation. Thats how the dow gained 236 points today the s p advanced 2. 7 . And winners surge 1. 47 . This rally was extra infuriating to anyone who thinks the market should be linked to washingtons inability to pass another stimulus bill now that the 600 a week benefits have expired the rising case counts in so many states, california over 500,000 that forced closures of flagging businesses. So let me give you the guide to the perplexed. Because when you go to the tape and look at whats winning, its actually very straightforward. Theres nothing counterintuitive about this move. Its not crazy its not illogical in fact, it makes perfect sense. Lets do this. Lets consider the 15 best performers of the covid19 index. First, theres fastly. This is a platform