Good wednesday morning im Caro Quintanilla with jon fortt and Julia Boorstin with us dow down 800, worst drop since about june 11th, on covid worries in the europe and United States, lockdown worries in france and germany oil is down about 6 vix getting closer to 40 were monitoring the ceos of twitter, facebook as they testify on section 230 well begin with dominic chu on more on what is driving the downswing. A lot of narrative around the rising covid cases, not just in the United States but europe as well markets may be taking their cues from whats happening in europe. Theyre talking about wider spread lockdowns in germany and france and whats if it happens here in the United States. Thats playing out in the markets right now. For the s p 500 specifically, below the 3300 mark, that is below both the 50day average price and the 100day average price for those indices, so many traders looking for technical or chart pattern levels as they look at trades today the s p 500, this little rol
And as andrew was talking about, with mr. Lansdale, big tech will testify. The ceos of facebook, alphabet and twitter will face questions from a Senate Committee this morning. We, of course, will bring that to you carl guys, a lot of jitters, jim, this morning, as to what macron may say later on tonight, european time. Your point on social media has been this premarket weakness is not about the earnings themselves. Right look we would be in a stay in place order if we adopt what merkel is talking about. We have never been on the same page as merkel when trump came in she is more rigorous about hygiene and about masks and social distancing than our country is our country is not the way of germany. I would say you see chicago close, all the dining places, and restaurants and start thinking about travel, leisure, hospitality, it then bleeds into boeing we have this morning and i think it is impossible to think about boeing without thinking about once you get there, where can you go . I th
Good Tuesday Morning im Carl Quintanilla with jon fortt and Julia Boorstin apple is going to be the story of the hour. Their new event is just hours away expected to unveil the latest edition of the iphone, jon likely story of the week in my book. Thats where well start this morning. Joanna stern off the wall street journal joins us product reviewer extraordinary air. Its been a long time since we had an iphone event that wasnt focused primarily on camera and screen quality, i would argue. Maybe back to the iphone 10 where we got face id but this time it might be 5g taking center stage, right supposed to be it speed, speed, speed. That was the tease in the invite last week from apple i think its going to be in 5g, certainly. Processors, processors, processors every year. And i think also we hear a lot of speed in charging this morning it was a i believe it was last night, a Wireless Charging grid that will clip to the back of the new iphones magnetically clip. Should be able to charge
Mnuchin again today and we will hear from the treasury secretary in a few minutes at delivering alpha. Plus palantirs public debut, backed by peter thiel, it will be a direct listing at the New York Stock Exchange, lots to discuss there. And covid optimism, regeneron saying its treatment cocktail helps in the early stages of the virus and we will talk with the companys cofounder and chief science officer polarity on this hour jim, of course, you have to get the debate out of the way, everybody is talking about that and were going to hear the argument that if you look at futures and even some of the Prediction Markets today, theres an argument that the debate really didnt change the broad contours of the race. Before we got pmi, before we got this little squib from speaker pelosi, the futures were down very big. I was watching dom this morning, it looked like the market would be very ugly and i think that was because of arecognition that there was no way you could possibly have any sort
Arrows dow futures indicated down by about 260. Weve seen down 300 this morning. Nasdaq also down sharply down by 200 points and the s p 500 down by about 37 so significant declines after two other days of losses also playing out in the treasury markets as well. If you want to take a look at what is happening there, yields have gone down, right now the ten year is yield iing below 0. a lot of this has to do with renewed lockdowns in europe. Lets get to karen cho who has more on what is happening there. Thank you very much we are witnessing losses across the markets as we contend with more news flow around more severe restrictions. Weve been hearing the last couple hour 24s that there may moves announced later on today, reports from various Media Outlets suggesting that london will move to a tier two restrictions the london mayor has spoken suggesting that the Health Secretary will reveal the changes in the house of commons. No mingling between households currently there is a rule of si