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
Youtube segment. The coronavirus remains front and center the u. S. Reporting more than 90,000 cases in a single day for the first time ever. 59 minutes to go in this session, the week, and the month. We are down 3 on the nasdaq today. Ahead on todays show we will speak well break down all of these moves and speak with dan niles and see if he is buying any of the tech nims names on the dip. Lets get first to the market. Mike santoli is tracking the action for us. What stands out . Just in the last hour or so, the s p 500 did go back down and test this level everybody has been watching. We have been pointing it out all week basically the september lows, 3,230 and change we did hit it on the nose. It was a little bit of a tag and then bounced off that. Thats what a test looks like. You dont pass every test. Keep that in mine. It is also the june highs. Also the break even level for the year so there are understandable reasons why people are clustered in this area and decide whether thats
Benefited from the stay at home trend, both popped into the open both have gone lower all day long big swings and stocks are set for the second straight week of losses the s p 500 just fell through the 50 huday moving average. 59 minutes to go on a volatile day, week, and final hour of trade. The s p 500 is flat right now. Fwha but that belies the volatility that youre talking about. We have a big lineup on the show coming up, the ceo of kroger will join us on the back of the companys strong Earnings Report better than expected guidance as well plus, labor secretary Eugene Scalia will be with us to discuss the job situation in the country and the renewed push by some companies to bring workers back to the office and one brookings economist has a bold idea to get america back to work and speed up the recovery pay people to have a covid19 vaccine. But lets get straight to the market another wild session to close out a roller coaster week. Mike santoli is tracking all of the action today
Thats leading the dow right now. Jpmorgan chase, rough week overall. The cardholders, mx, visa down this week, doing better. Exxonmobil also on the upside. And the laggards, and this is like perfect, the symmetry here, all the stuff thats been the Market Leader is down. Walmart, a 52week high, new high, Procter Gamble raised their dividend, merck is up on the week, health care is up on the week, united health, apple had a good week. Its down. Weve been telling you how goldman has downgraded apple, maybe a surprise, but talked about lingering low sales and margins a possible delay, possible in the 5g phone everybody is anticipating towards the end of the year, and i think this is the most important thing, a shallower recovery hard thing to call at this point. Everybody is all over the map on that shallow recovery apple has regained almost 65 of the losses weve had, a little better than the s p 500. Its trading right now at 23 times forward earnings and if youre like me and look at the e
Futures pointed to the loss of more than 400 points we saw oil rebound then finally, can you see the dow futures up treasury yields suddenly backing down a little after getting up 1. 2 on the 10year yesterday now getting to the latest. Yesterday, california issued a statewide order for california residents to stay home other states and cities are taking similar steps mack, is that coming here . We dont know at this point. Closing dinein restaurants, bars, clubs and gyms washington is working on programs to keep the economy afloat steve leaiesman is like the norh star hes here. Hes got the tie on. Eamon jafers no offense that you went tieless. You have some response on the fiscal stimulus as well. Maybe well get to talk about that great market timing of a couple of those senators too that is an important one. That really angers americans we had a couple of u. S. Senators exposed in the press yesterday for uncanny timing of selling stocks richard burr sold his stocks on february 13. Some