Out what the Federal Reserve is going to do to rev up the economy. Big speech coming from chairman powell. Odds are hes going to talk about inflation. He wants more of it. If thats correct, hell be printing a lot of money. Literally seven minutes from now make that nine or ten minutes from now, we will be allowed to give you the official word. And, by the way, thats what the markets waiting for. The dow jones average is coming off the dow is going to be down about 22 points, roughly that way. Lets see what happens when we get the feds announcement. The s p, thats coming off its 18th alltime high. Down a couple of points at the moment. The nasdaq is coming off its 38th alltime high. We did receive news of just over one million new jobless benefit claims last week, no noticeable impact on the market on that. That market, the investors, theyre really waiting for the fed. Five big tech stocks, theyre coming off record highs. Here they are this morning, premarket. Apple is up some more, but
Second term. The president also receiving , the companytok suing the federal government. Lets talk about how the markets are digesting this. Abigail doolittle running us. Joining us. Apple has been one of the companies driving the rally and apple just notified some employees that they plan to reopen a number of retail scores by the end of august. Walk us through the day. Again, recognize. Hopes about a fast tracking of the vaccine and treatment. Abigail lots of optimism. The s p 500 up for a third day. While it is nice to think that it has some of the do with the fast tracking of the vaccine and plasma therapy, it is interesting that the only major nasdaqo close down, the biotech index. The nasdaq 100, the new york faang index. Course if youof own that stock into the close today, you are eligible for the 41 split which will take place next monday. That does not create any value but it seems that it is somehow more attractive. Certainly attractive, the fact that they plan to reopen some
Out of congress as opposed to just these executive orders from the president that are taking quite a bit of heat over the weekend. Yeah, look, david, i think that there is a sense initially that it was a white house grab and it kind of went through the weekend, there was a recognition that, wait a second, maybe it is a grab if youre going to give 400, 100 has to come from the states and many of the states including red states are in trouble. The thing that is most compounding people is that 12 of the people who make 80 to 100,000 get this bizarre payroll tax cut when the problem is not the people employed but the people who are unemployed. I think that its arer so counterintuitive our old friend larry kudlow always believed in that. We have secretary mnuchin right now, which is terrific lets do it lets do it. Go ahead, jim. Mr. Secretary, always good to see you on squawk on the street. We get a little bargaining done on the show. How have you been . Good morning. How are you . Im doing
They have been serving about 35 of our landmass across the country. Could you name some of those companies to help us get familiar . Absolutely. We could go all the way to western south dakota, not rushmore. We could go to citizens on the mississippi river, up to wisconsin where i have telephone cooperatives. And even here in my state of virginia. We have scott county in the very tip of the state, serving the tristate area. But i have 850 of them. When you talk about landmass, you are talking about landmass and not necessarily population. Absolutely. You hit a key part of this. Is about 5 of the american population, but they are truly the providers in the most extreme and rural parts of the country. Everywhere from alaska to the panhandle of florida, so they stretch all across. I have everybody from somebody who has about 150 subscribers to probably my Largest Company that has just about 100,000 subscribers. They are serving those areas that the companies chose years ago to not provide
Host and this week on the communicators, our guest is Shirley Bloomfield of ntca, the Rural Broadband association. Shes the ceo there. Our guest reporter from Telecommunications Reports is paul kirby. Huly bloomfield Shirley Bloomfield, who do you represent . Guest about 850 communitybased broadband providers across the country, theyre in 46 states, so theyre the companies that traditionally were the local phone companies that had to evolve and evolved very quickly to become a broadband provider. So they truly are the onestop communication providers in a lot of areas around the country serving about 35 of our land mass. Host could you name a couple of those companies to help us get familiar . Guest oh, absolutely. All the way to western south dakota by mount rushmore, we could go to citizens on the Mississippi River up in wisconsin where ive got a number of cooperatives, and if were look over here in few state of virginia in my state of virginia, weve got scott county down in the very