Nasdaq. Now, here are the negative for stocks today. Dr. Fauci suggesting a lockdown christmas. Why . With all the traveling and celebrating we did over thanksgiving, its expected to produce a new round of infections that will in turn require a new round of restrictions. Well have more on this throughout the show. I get the impression were being treated like children, punished for celebrating our national holiday, but dont get me started. One more item. The biden team takes shape, very similar to the Obama Biden Team that left Washington Four years ago. Neera tanden could go to the budget office, Jared Bernstein expected to become a president ial adviser, he was Vice President bidens chief economist, and back to the future . Sure looks like it, doesnt it . On the show today, the priceline ceo offering deals to get people back to travel. The waffle house ceo, hes pounding the table, keep dining rooms open, hes pleading. And mrs. Fields cookies, their ceo somehow has to replace the reven
All that and so much more on making money. Charles it is another late summer session for the stock market. To the untrained eye looks a little indifferent, right . Perhaps an owed to the final lazy idyllic days of summer, you know what . By the way, before we have hectic fall but there is something going on. There are a lot of narratives. In fact history is being written and rewritten every day in these markets. The resolve in the face of the coronavirus. Uncertainty, resistance really for the Global Economy still partially locked down. It is amazing because the older stocks dale hi improving fundamentals but new crop of hot stocks, new hot stocks, in plain sight too good to be true which brings me to the stock of the day. Zoom, i think you heard of it, right . What could arguably be argued one of the best quarters in the history of business. The videoconferencing call Company Posted results that just annihilated wall street estimates. Revenue up 355 . Operating margin 42 from 14. Free
3,200. Tesla, watch this. Founder elon musk now worth about 70 billion. Richer than Warren Buffett. Another surge for that stock right now premarket, up another 100 a share, 6 . Wow. Apple getting closer to a 2 trillion valuation. Right now its up nearly five bucks at 388. Now, thats the big techs. We have a lot more quotes coming your way. Suffice it to say, big tech is having another terrific day. How about disney . A partial reopening despite a surge in new virus cases in florida. Masks, temperature checks, no lines. This was an important symbolic move to reopen disney world. Investors like it. Disney is back to 121. Talking about investors here, they like the good news on vaccines. Pfizer and biontech, they have been given fast track approval for two of their vaccine candidates. Stocks got a new shot in the arm when that news broke earlier this morning. Both stocks on the upside. What have we got for you . Later in the show, larry kudlow, he will have more on the next stimulus plan
Comeback this summer. The Election Campaign getting back to Something Like normal. Its all part of the great opening up which continues rapidly. Georgia was the first. New numbers show that it has bounced back very very quickly. Its economy has. New jersey has lifted the stayathome order. New york city subways have seen a considerable increase in ridership. And the money from the government is finally flowing to business, and get this, Mortgage Applications are surging, too. Add it all up and it looks like a much stronger summer economy. That outlook helping the market. Caution, however. The Federal Reserve releases its first Economic Forecast in six months this afternoon. That could really move stock prices. But right now, we are seeing a Little Movement to the upside, up 50 for the dow, up about, what, 12 for the s p, and another solid gain for the nasdaq, up almost 1 again and back above 10,000. Its great to be back. My thanks to ashley, susan and lauren for working so hard while i
Time to lessen the economic pain, which we are clearly suffering. Meanwhile, fox news has blown the lid off the china virus story. Reliable sources suggest the virus began at a virology lab in wuhan, china. Patient zero, the first person to get it, was a lab worker who went out into the city and spread the virus from there. Now, the chinese authorities covered it up. They delayed action. They altered data and suppressed doctors and journalists who reported the truth. The story is an indictment of china and the communist authorities. It will dramatically change the u. S. china relationship. Heres how the markets reacting to all of this. We got bad news on manufacturing in the philadelphia and new york area. We got a sharp drop in Housing Starts. And weve got those dreadful jobless numbers. But the dow is going to open on the upside, maybe up 90 points. Thats almost a half percentage point. Same story for the nasdaq and also, look at the nasdaq, actually, thats going to be up more than 1