What it is, and why it is wreaking so much havoc for social media companies. And it is halloween eve. Night. Iller, but triller we will have the executive chair of the social media platform sued by tiktok. Those stories in a moment. Also this hour, we will be speaking with the ceo of overstock. Com on supply Chain Technology ahead of the busy retail season going into the holidays. Later, i will have an interview with the ceo of blue apron, which reported results yesterday. Dropping, u. S. Stocks capping their biggest weekly route since march after tech earnings disappointed investors concerned the slowing economy will dampen assets. Lets get to Abigail Doolittle in new york. It was a crazy week just ahead of the election. Walk us through your roundup. Abigail yes, it was a crazy week, a wild week. Two down weeks. That is another piece of the story that the bears have been at it last part of this month. The nasdaq today not surprisingly with the text selling that you were alluding to re
To increased economy. There is a one month to in germany, not good for our market, same thing in france and a Record Number of new cases in america over the last seven days. Thats not good either and a time clearly running out for stimulus package before the election. We will ask larry kudlow about that. Dow industrial 900point drop yesterday, dead flat at the opening of this morning, pretty much the same story for the s p, modest rebound for the nasdaq. This is the big day for big tech, apple, amazon, google and facebook will tell us how they are doing financially. Report on this about 4 00 p. M. Eastern this afternoon. Extreme importance because these are the most important and powerful countries in the world. Their stocks have had a terrific run, but they have come off their highs and we will ask if the blue is coming off the big tech. Campaign headline, joe biden leaves his house again. Today hes off to tampa, florida and so is the president. The latest poll shows a dead heat, 48,
The month higher for all three major averages. Again, we should say. But apple today not keeping investors away. The iphone giants earnings crushed it during the covid quarter. Apple hitting a new record high briefly, becoming the worlds Biggest Company after its stock split. We have a full recap of the tech titans earnings parade. It was Something Else. And one of the most widely followed economists on the planet is here to put this wacky final week of july into perspective. Mohammed elerian on the record evaporation of Second Quarter growth, what that means going forward. Plus, the Online Shopping boom creating another covid winner. Overstocks ceo Jonathan Johnson on his companys pandemic sales and nearly 1,000 pop in his stock since the start of this year. Plus, the latest on stimulus negotiations, President Trump is maybe campaigning in florida and charlie breaks it on a possible tiktok spinoff. Less than an hour to the closing bell, im Cheryl Casone in for liz claman. Lets start t
Starts. That means demand up for Mortgage Applications, supply going up in the future. That follows a remarkable improvement in the outlook for home builders. They are much more optimistic. The housing rebound would give the overall economy a real boost just when it really needs it. Now lets get to the market. Again, look at this. We are going up again, not much, going up at least at the opening bell. The rally continues. The dow up maybe 70. S p, maybe 10. Nasdaq, better gain, up nearly a half percentage point. Thats a 46point gain for the nasdaq. Okay. The fed is printing money. Theres a new stimulus plan in the works. Retail sales saw a huge increase, a positive News Development on virus treatment plus real estate and you add it all up, youve got a continuing stock market rally. Weve got a big show for you today. The president s reelection hangs on the economy which is coming back strong. So why is he trailing joe biden in the polls . We will address that. Social distancing is the b
Its down 207 but the russell 2000 has the biggest percentage loss. The small and midcaps are getting creamed, down about 3 right now for the russell. Powell tying an economic recovery to a Covid Vaccine and therapies that can cure horrific symptoms including a disturbing new lifethreatening clotting disorder like the blood clots that cost a broadway star his leg. Enter the biopharma ceo mike sherman, here in a fox business exclusive on his new anticlotting covid drug thats on the fda fast track. Boy, are they moving fast. Plus as the covid outbreak destroys huge retail names, its actually bringing back one from a near coma, at least the stock. Speaking of stock, its overstock. Com, not just alive but actually thriving with triple digit sales increases. Overstock ceo Jonathan Johnson here in a fox business exclusive on the steps hes taken to fill a leadership vacuum left by the controversial former ceo, patrick byrne, and the problems of coronavirus. Plus bring on the quarantinis. Alcoh