Jones industrial average up 16 points but its the nasdaq thats breaking out of 88 points on the nasdaq this morning and s p futures up 4 and 3 quarters staff largest Economic Contraction in u. S. History yesterday, another uptick on unemployment claims push selloff i didnt do, the dow industrials at the close yesterday still the dow, nasdaq and s p 500 on pace for fourth straight month of gains with industrial up on final day of july. Economic recovery, where is the economic recovery headed and what can the fed do to support it . Coming up at 8 10, chief investment offer rick is here and you dont want to miss valuable insight and commentary stimulus stale meat, still no deal with extra unemployment expiring today. President trump does not want to see election day move but also does not want to see fraud. U. S. Appeals court said to reconsider dismissal of his case. Coming up 8 30 a. M. Congressman jim jordan will weigh on latest moves on flynn, the congressmans fiery take away as well.
New claims actually rose. And 17 Million People are still drawing Unemployment Benefits. I believe thats a negative for the overall market. Get to that in a second. Look at this. Amazon, apple, google, facebook, the day after the top executives took a pounding from the politicians, these stocks went up during those hearings. They are down in preMarket Action this morning. Hold on. All four of these giants will report their earnings later this afternoon. This is big techs big day. My opinion, these Companies Need blowout numbers to sustain their very lofty stock prices. Watch it unfold at 4 00 this afternoon on this network. Overall, i got a lot of red ink to show you. The dow is looking for a loss of over 300 points, down maybe 40 for the s p and off 131 on the nasdaq. Heres one of the negatives thats hurting the market. Emergency virus relief. It runs out in 24 hours. Congress is divided over how to replace it or extend it. Investors want more stimulus but theyre not sure they are goi
Meanwhile Federal Reserve not even thinking about raising rates now. Fed chair jay powell saying the current economic down torn is the most severe in our lifetime. Warning containing covid is essential to protecting our health and the economy. Big tech in focus all reporting today, their earnings after the bell, ceos grilled on capitol hill yesterday about anticonservative bias, Business Practices, privacy and china. Highlights from the fiery hearing coming up. Markets this morning pointing to selloff at the start of trading. Take a look at futures indicating decline 216 points right out of the gate, s p lower by 28. Marks rallied yesterday following Federal Reserve decision. The market was up 160 points don oh dow. The nasdaq up 140 and s p up 40 points yesterday. Unrest in america with violence in major cities. And the nba tipping off today, players taking to court in bubble at disney world with empty stands, we will check it out. The ceo of fanduel is here on how the virus is impact
From the prison riots that began before i took the state loads of opposite office, to historic flooding, to the easter tornadoes, to the covid19, to the historic protests, and the fact that on day six of hurricane season, we had our third named storm hit the mississippi gulf coast. It has been a very challenging time in our state. Im very pleased to be able to announce today that some of the best news weve had on the economic front over the last several months can be announced. That is that the back to Business Grant program will be live tomorrow at new. Noon. We need to always remember that this pandemic was not just a Public Health emergency. It plunged our country into the greatest job loss since the great depression. The economic damage and the human cost of this has been incalculable. We need to do everything in our power to take care of our neighbors in these challenging times. We need to do everything in our power to take care of our Small Business owners. Just to remind everyon
Good afternoon. Thank you all for being here today and thank you for wearing your masks. I appreciate that effort. There is lots of big news to be announced today, but, of course, we all know thats pretty much been the case over the last few months from the prison riots that began before i was took the oath of office to state agency to corruption to historic flooding to the easter tornadoes to the covid19 to the historic protests and the fact that on day six of Hurricane Season we had our third named storm that hit the mississippi gulf coast. It has been a very challenging time in our state. I am very pleased to be able to announce today that some of the best news weve had on the economic front over the last several months can be announced and that is the back to Business Grant program will be live tomorrow at noon. We need to always remember that this pandemic was not just a Public Health emergency. It plunged our country into the greatest job loss since the great depression. The econ