Good tuesday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin on this election day markets are continuing the rally we got on monday were close to session highs right now. Dow is up 665. Best day since june 5th for the dow and s p 500. Best breadth since april 8th nasdaq and s p 500 erased their october loss, jon, as were seeing things like yields go higher as well and the dollar weaken which is another sign that some of the imbedding on emerging markets going out of this election. Yeah, carl. Looking at tech overall and particularly big tech, its interesting the gap between microsoft and amazon lagging behind apple, thats narrowing a bit. Remember, you had apple above 2 trillion in market cap and around 1. 5 trillion now thats come down apple is below 2 trillion those two are still around 1. 5 alphabet lagging all of those year to date so what is surging today tesla is up 5. 5 sales force, cisco, micron, dell, if you look at enterprise space, tho
Tuesdays election. Were expecting to hear from him any moment now. We have a big show. All that and much more on making money. Charles so this morning the Financial Media fixated on the rising covid19 cases in europe, new lockdown, potential lockdown measures might eventually come to the United States and you know i think there is a whole lot more spooking this market, including reaction to a repo tension biden presidency. Think about this after the Consumer Confidence came out yesterday below estimates, that was 10 00 a. M. The early result we saw in the market faded, by the end of the session selling picked up. S p was at 3406. That was the session high. It held as resistance and then we went do you and the dow was 27,689. The high from the session straight down from there. It wasnt just that the headline declined but a sharp drop in swing state confidence. Florida wept from 114 to 110. Michigan 124 to 119. At moment i still believe President Trump will pull this out. If he doesnt th
But you were talking about the dow being in positive territory for the First Time Since september 2nd. Stocks in china reopened after a week long Public Holiday they both jumped by more than 2 the shanghai composite was up by 2. 6 lets take a look at where things stand right now in europe where there is some trading taking place you can see the markets are open there and theres a bit of a mixed picture. Its actually a little bit higher ftse 100 is right around the flat line, andrew. Hey, becky. Weve got so much going on this morning. Weve got this is squawk planner, two major tech events first amazon sales day it begins after it was postponed, if you remember, back in july. Now running two days, starting at midnight tonight eastern time so watch out for that. Ive already scheduled it and then Apple Holding the big event tomorrow the launch event expected to unveil the new iphone. Everybody looking for the new 5g iphone it will include the first major exterior redesign since 2017 and we
Underestimate senator mcconnell and his ability to corral maybe as many as 20 republican senators who believe that we have a vshaped recovery which of course is what President Trump has been saying. Its the senate that we look to, i think all discussions between secretary mnuchin and Speaker Pelosi have not borne fruit. One of the things i think they havent borne fruit because the republicans simply are not in favor of giving the states money. Speaker flossy wants to give many different businesses and states money because they are all strapped will this matter to that i dont think so i wish it would, i mean, in business i think it would, but not in politics. I feel, david, when i look at these numbers and i look at whats happened to the president , of course, we wish him well, i think that somehow nothing comes together in washington that you would think. Theres not a kind of a sympathetic lets get together, lets stop the war of words. It just doesnt happen like that anymore. No. There
Later, a Bed Bath Beyond stock handing in one of its best days ever one of our traders says it could be headed even higher from here. We start with a developing story out of washington. The next round of coronavirus aid apparently hanging in the balance. Lets get right to it with ylan mui. Reporter the house has begun debate on democrats 2. 2 trillion relief package with a vote expected later on this evening. Five Straight Days of negotiations between the treasury secretary and the speaker of the house nancy pelosi have failed so far to produce a compromise the white house has propose aes 1. 6 trillion bill but those numbers are still far below what democrats are willing to accept. Pelosi also pointed to business and child tax credits as another major Sticking Point in a statement her office said that the two sides discussed further clarifications but distance on key areas remains. Chuck schumer put it even more bluntly. He said, they are not in agreement yet and there are lots of area