Youve given up on ok because the other part. Of the economy its true because its to their benefit here i really worry when people talk about new normals and when they talk about the economy youre my friend well who has become normal since 2008 has been completely different from the old normal people have the normal you go back to a balance but really the economy hasnt grown at all since the 2008 crisis all of the growth in g. D. P. All of the growth in wealth has accrued to the Financial Sector to the real estate sector to the one percent for the 99 percent of all theyve gone down and down and down so the new normal is you cant get rich again by housing and join the middle class like a ghost or the new normal is an all of the year increase in wages and debt service in rents and in monopoly prices so that they mark the new normal is the market is going to shrink and shrink into. We look like greece looks in the last 5 years the length of the normal is looking way routes that if and run.
Markets this morning are lower. Mixed picture at the start of trading, dow industrials down 68 points. Nasdaq up 30 and the markets were able to cut losses almost by half. Dow, s p 500 are on track for winning week despite 140 points lower for the white house. Battle for the white house goes prime time. Biden breaking down the election as scranton versus park avenue. Power panel hour. Cohost of the 5, Juan Williams is here and joe concha to tackle what is going on and backlash of facebook spying on instagram users tapping into your phone camera. Mornings with maria is live right now. Global markets this morning look like this. European indices are mix. Cac lower by 15. We did get positive news on the brexit front. European Commission President saying shes convinced a deal is possible following a round of informal talks in europe. Take a look at indices. You will see the shanghai composite was up better than 2 . Some op the top stories that we are watching this morning. President trump
Session with the dow plunges 406 points, the s p prlummets 1. 6 i an absolute nightmare. The house of pain but its good to have some cash so tonight, were holding a coronation because right now, cash is king. Our viewers know this market has been making me nervous for a while. Ive been telling you to take profits for the last three weeks. We have sold some of every single tech stock we know, including some very, very good favorites that you are aware of. Every single one, first time in 15 years because bulls make money, bears make money. But hogs, they get slaughtered i love these tech companies, but i looked at the Charitable Trust cost basis, i looked at the pricetoearnings multiples and said you know what we are out of our minds with greed youve got to be disciplined in my book, that means taking profits while you have them. Some of you will say this violates everything you heard about investing, buy and hold, think longterm. Or most recently, or i should say, stocks or stonks only
We have. A look at everything. And were here to support the Climate Action because we really feel that teachers on the life. Of me the future generations will be facing the right if the oldest be there slave you have good reason why hes against it if you dont want it. Done quite right. That the congress at one time. Also on the day of the race to create the 1st corona virus vaccine but its the search for a cure the only motivation. Is part of russias Strategic Interests to always want to be 1st irrespective of whether its a revolution or the 1st flight into space now its about saying that were the 1st to develop a vaccine. Welcome to the day world fridays for future climate protests back for the 1st time since the pandemic back in march the rallies calling for urgent Government Action on Climate Policy went on live by the pandemic began today more than 3000. 00 climate strike events took place all over the world. Bad weather and social distancing rules couldnt keep them away the friday
From home and implementing new restrictions he is speaking to the uk as we speak. And big tech stocks gaining back some ground after a rough month. Amazon climbing up analysts say the selloff created an attractive entry point. Sara, we have 59 minutes another volatile session amazon is nicely higher. The Broader Markets are slightly higher yeah, taking all of Consumer Discretionary it with. Retail winners today as well coming up on todays show, despite the upturn, the nasdaq is the underperformer in the month of september so far. Were going to ask tiech investr dan niles where he is putting his money to work. Even the ceo of levi will join us with a look at how consumers have spending money. And speaking of retail, were counting down to nike earnings to day after the close, nike by the way, best performer in the dow right now. Well get results from stitch fix, kb home and teslas Shareholder Meeting and battery day. It is shaping up to be a busy afternoon of news. 58 minutes left of tra