This is a special edition of the news with shepard smith. Hurricane delta makes landfall and good evening from cnbc the hurricane moments away from landfall right now and frankly, about to make history. Hurricane delta is closing in on the southwestern coast of louisiana as a very powerful category 2 storm delta is set to become the tenth named storm to strike the United States this year that has never happened in recorded history never have there been ten named storms i want to show you where we are right now. This is the radar. You can see part of the eye has already come ashore just south and east of lake charles, louisiana. The storm has been weakening throughout the afternoon it was 115 miles an hour four hours ago, maximum sustained winds now 100 miles an hour. The minimum pressure has risen that means the storm is getting weaker the higher the pressure, the weaker the storm, because its a low pressure center. Right now its moving toward land, and part of that eye is already over
Navigate it all. With the clock ticking, get reaction from republican Congressman Ken Buck from colorado. It takes a lot of guts and a lot of innovation to start a business during a pandemic. One man is doing just that, very inspirational story coming up. All that and so much more on making money. Charles so for the most part the market has been elevated all session long but obviously on pins and needles which plains the rapid air pocket we saw earlier in the session where there was a tweet that nancy pelosi sounded very skeptical about a deal with steve mnuchin. I suspect it was strategic tweet as both sides are using proxies to move the market and gain leverage but beyond the drama in washington, d. C. , there is lot of mostly positive news on the economy and stock market today. Initial jobless claims came in better than expected. As they continuing claims was dropped by almost one million in just one week. Consumer spending came in much better than expected even as incomes declined.
Washington has been demanding transparency and threatening to delist mainland companies. Australia is ramping up tensions with its top partner. You a quick get track of the markets. This after we saw another record high for u. S. Equities. The s p 500 and nasdaq composite soaring to another record high for a fourth consecutive session. The s p gaining ground for five sessions. Tech and communication stocks leading the gains. We are up about 55 since the march lows. We had some positive data. The u. S. July durable goods orders meeting estimates. All of that boosting optimism that the fed will keep Monetary Policy loose. With the dollar weakened, due to the strongerthanexpected eco , take a look at what oil is doing. It is gaining ground. About 43 per barrel. In around five months, the highest level. We have hurricane laura. More than 80 of oil output and nearly 3 Million Barrels have been shut down in the gulf of mexico. Haidi continuing to watch the oil patch for those disruptions. Le
Kong and shanghai. 5t includes valuation of 22 billion, more than aramcos record sale. And polenta here is also going public. There were none the most valuable private companies. It could be silicon valleys biggest listing since uber. Shery we are seeing u. S. Futures coming online much flat after we had major u. S. Benchmarks ending the new york session mix. Investors are and waiting for fed chair powells speech thursday about the longawaited framework review. Dow was pressured down. 2 , declining for the first time in four days. Gains andung between losses but managed to reach an alltime high for the third consecutive session. Six sectors were higher, five lower. Energy was actually a drag on the s p 500. Take a look at what oil is doing. Pretty much flat right now. This of course after surging to the highest level since march. Not to mention gasoline futures were also at the highest level in five months. We have hurricane lower rattling towards the u. S. Gulf coast. More than 80 of
The chicago fed president australia heads into earnings season amid the worst recession in decades and a pandemic crippling the economy promises to be one of the most challenging periods on record. Shery u. S. Futures opening flat. This after they finish mixed on the friday session. We had u. S. Stocks falling with the s p 500 flat after five sessions of gains. We have escalating u. S. China tensions. Some positive data. We have the dollar inventing after u. S. July job dated beat estimates. The nasa composite was led lower. Composite was led lower. We had small caps leading the gains on those better than expected econumbers out of the u. S. Here is how oil is trading. We are seeing oil gaining ground above 41 a barrel with brent coming in around 44 a barrel. This after the biggest loss in a week. Not only u. S. And china tensions but the outlook for the u. S. Stimulus. They saw the biggest advance since early july. See some are going to of those uncertainties, the lack of a deadline w