The s p 500 and nasdaq did break a threeday winning streak, so closing both lower today. We got data on jobless claims. Really awful. It goes to show you that the wall street recovery since those march lows, up 40 as you just noted, melissa. It is really outpacing main streets recovery. If you look at continuing claims here topping 21 million, it suggests that employers have been slower to hire back furloughed workers. Lets talk about the retailers. It is a particularly painful time for them. Hit first by the pandemic and now damage from the protest although you wouldnt know that from some of the retailers stock performances were seeing today. Take a look at nordstrom. It is up almost 10 . I want to Pay Attention to the gap here. Higher today too ahead of earnings any minute now but they did get hit by a lawsuit, Simon Property group because they hadnt paid their rent. Also the nasdaq 100. It did touch an intraday record high. It has since pulled back as Big Tech Companies pulled back.
Standoff stands. A busy market rally with stocks jumping on the president s comments saying china wants to get back to the table on trade. Well see where we go. From here, we go to blake burman, with the latest on all the back and forth at the white house. Hi, blake . Reporter we heard from President Trump for a while, he feels china wants to make a deal. They need to make a deal very badly. He reiterated that earlier today. The market swung earlier today when the president said that china called over the weekend and said they wanted to get back to the negotiating table. Heres the issue with that. When chinas foreign minister was asked about these calls that were made. They disputed the notion there were any sort of calls being made. When, at least over the weekend. When the treasury secretary Steve Mnuchin was asked about it earlier today, sitting alongside the president he jumped in said there had been quote communication through intermediaries. President trump was asked about that a
Hopefuls will make it on to that stage. Plus Holding Companies accountable for the Opioid Crisis. The newest move from a pharmaceutical giant to settle. Thousands of lawsuits that claimed it started and helped to fuel what is still a growing epidemic. Dorian strengthening into a hurricane, set to slam into the puerto rico. Latest on the storms path, likely to hit the u. S. Jackie fox Business Team coverageed Edward Lawrence at white house. Phil flynn watching action in oil and gold from cme. First to edward. Reporter you her a first here, within the last 20 minutes or so, u. S. Citizen Immigration Service releasing new rules saying kids born to u. S. Citizens outside the United States are not necessarily u. S. Citizens. It is not an automatic process. Temporary visits to the United States do not establish residency. Now these rules go into effect on october 29th. What has to happen, if you are a u. S. Citizen, have a child abroad after october 29th, you have to apply for that child to
Ending lower. We have a lot of time to throw the blame around. Edward lawrence is at the white house. Deirdre, you get to go first with perspective for us. Dierdre 800 points down, we closed as you just said, at session lows. A wipeout day. No other way to say it. If you look at the Dow Jones Industrial average. The financials fell hard, goldman sachs, jpmorgan action. We have been talking about the inverted yield curve. Its showing brass tacks take away. Investors are more optimistic on the near term than the long term. That drove a lot of the selling and activity we saw in the bond market including buying so much into the 30 years that we saw the yields at never before. It showed up in financials, as we just covered on the dow. If you take a look at the other sectors, macys as well. You have been covering this from an earnings angle. This year will be a disappointment to investors. I heard melissa say she is on pace. If you look at some of the other sectors we have been following. Te
This hour. Protests in hong kong protests in hong kong continuing for the 11th week. Residents converting their money into other currencies. Twitter and fast facebook cracking down on misinformation. Business roundtable a group of top ceos, including Jpmorgans Jamie Dimon now saying the purpose of a corporation is no longer about higher profits or shareholders. Well tell you what its saying instead, what it would mean for some of the worlds biggest companies. First it was the Dominican Republic. Now costa rica. The Health Ministry in costa rica 25 people have been killed as a result of tainted alcohol. Were bringing you the latest details. Connell back to the markets. Three days in the green, well bring you coverage from Kristina Partsinevelos from the floor of the new york stock exchange, Edward Lawrence covering trade and phil flynn tracking oil and gold at the cme. Kristina, well start with you. Reporter s p 500 closing in positive territory. What are the big winners . Les talk abou