Our guest tonight is investing in a main street recovery and will name a stock he says will benefit from that. We have all that and more tonight on nightly Business Report for this friday january 31st. Good evening, everyone, and welcome. You heard of the polar vortex . How about the stock market vortex in it sure fell this month like the only thing falling as fast as the temperatures was stock prices. Add it all up or down as the case may be and you get the first january decline for stocks since 2010 and the worst start to a new year since president obamas first month in office. For the month the dow lost 5. 3 . Nasdaq down 1. 7 . The s p 500 split the difference, losing 3. 6 . Pick your poison. Earnings and outlooks have been iffy. The fed is cutting stimulus even more. And emerging markets arent so much emerging as submerging. Just a pullback or something more . Well discuss that in detail tonight. Meanwhile, today the market dipped early, recovered, then swooned again, and heres ho
Will name a stock he says will benefit from that. We have all that and more tonight on nightly Business Report for this friday january 31st. Good evening, everyone, and welcome. You heard of the polar vortex . How about the stock market vortex in it sure fell this month like the only thing falling as fast as the temperatures was stock prices. Add it all up or down as the case may be and you get the first january decline for stocks since 2010 and the worst start to a new year since president obamas first month in office. For the month the dow lost 5. 3 . Nasdaq down 1. 7 . The s p 500 split the difference, losing 3. 6 . Pick your poison. Earnings and outlooks have been iffy. The fed is cutting stimulus even more. And emerging markets arent so much emerging as submerging. Just a pullback or something more . Well discuss that in detail tonight. Meanwhile, today the market dipped early, recovered, then swooned again, and heres how it finished. The dow fell 149 points, bouncing off an early
Ecb holds rates steady saying the risk of deflation have not decreased. The markets set to edge lower after a jump in claims. Plus, more trouble for citigroup as u. S. Authorities open a criminal inquiry into the banks mexican unit, so should you be worried about the companys stock price . A long legal battle starting up between tesla and the state of new jersey, well tell you how the hek carmaker is fighting back against the garden state. A lot for the markets to digest ahead of the jobs friday after the s p closes for a record high for a second consecutive session. The jobless claims are up to 326,000 and as we said the ecb does keep its key Interest Rate unchanged at a quarter percent despite all the concerns about deflation rinks. In a News Conference mario draghi said the drcentral bank will use all methods needed. They say if a 0. 5 cpi doesnt get your attention, what does . This guy is really on a mission to get that economy restarted. I think hes managed to be able to dodge the
Business confidence there down for the first time in five months. Our roadmap begins with the nasdaq looking to turn around a second consecutive slide in biotechs, deterioration in what some of these momentum stocks we say. Cloud storage firm box planning to raise over 250 million in an ipo and list under the ticker box. Reports that manager knew of the gm ignition problems prior to the launch of the cobalt and withheld some vehicle data. First up the nasdaq hoping to rebound the morning after the selloff which saw the index closing at 5 1 2 week lows and biotechs took a hit and tesla and netflix. We talked about it yesterday, and wonder if this is a longerterm dynamic in terms of leadership. I think that gilead comeback yesterday was significant but a lot of the others didnt. You know, were going to be talking about box filing and i look at that offering and i say or drop box, too, i say, these are the kind of companies that are putting a lot of pressure on the rest of the companies.
Mask. Dr. Anthony fauci said theres no acbu ambiguity. All of those trials show consistently that hydroxychloroquine is not effective in the treatment of coronavirus disease. Not effective. A distraction at best as the new federal report shows nearly two dozen states are in the red zone. That means theyve reported more than a hundred new cases per 100,000 people in the past week. And another major developing story. The ceos of the countrys Largest Tech Companies are on the hill for a hearing that will begin this hour. Any minute now, in fact. Industry giants including jeff bazos, mark zuckerberg, tim cooke are going to address concerns over potential antitrust violations in big tech. Well bring you any big developments from that as they happen. But lets start in washington this afternoon where republican congressman Louie Gohmert has canceled that trip with the president after testing positive. He received his diagnosis while at the white house this morning ahead of that planned trip t