In a sweat over temperatures in the arctic theyre reporting record highs in a land thats usually frozen all year round. And in malaysia a young woman is rewriting the script in the world of progress like 19 year old north again is punching above her weight in the rain but shes also hoping to send a message to muslims everywhere. Im sunni so its got to thank you for joining us members of the European Parliament have made history by electing the 1st woman as Commission President germanys outgoing defense minister it was about funded by and one lawmaker support for the role shes promised to quote united and strong europe saying she would work constructively and pragmatically to achieve it she was voted in by a narrow. Majority. Uncertainty until the very last minute. The members of the European Parliament here in book knew their vote on the next Commission President was going to be close but not even the candidate herself was enough on the line would have thought it was going to be that c
Down 1. 3 for the s p to 42. 82 the nasdaq the laggard down 1. 3 as you might imagine, big tech names are leading the way lower. Amazon, google and oracle seem 2 to 3 declines today more on that trade coming up. Also on the housing front, another weak number out today. New home sales down 8. 7 in august the Home Construction etf down nearly 9 just this month. Big bio tech mover to tell you about, soaring 90 immunovant. It could be an effective treatment to many auto immune diseases. As we mentioned the autoworkers strike heating up and getting more and more political. President biden, joining the picket line earlier today. And we sent two of our best there as well. Phil lebeau and Brian Sullivan phil, lets begin with you tell us where things stand reporter oh, about half hour ago the president wrapped up his trip to a gm parts and Distribution Center not far from here in bell vil,ville, michigan this is what it looked like as the president was greeted by a number of uaw members walking
Good morning, Carl Quintanilla is going to join us from pyeongchang in just a minute we have a big lineup of guests this hour. All right extreme market volatility continues after the dow was down more than 1,000 points yesterday. Weve been whipping around today as well. Lets bring in blackstones adviser byron wien youve seen more correction thanksgiving i have at this point. What do you see as most akin to this period were going through right now where the market is grappling with the idea perhaps higher Interest Rates and the prospect of inflation . Well, i think that that was tr triggered a week ago when the employment report came out and average Hourly Earnings jumped from 2. 5 year over year to 2. 9 and that inflates the bear, it triggered the market decline look, weve been waiting for a 10 correction for over a year now. And now were having it. Its really not a surprise the market went through all last year with a 5 correction. And now we have a 10 correction and maybe its not ove
Forth, up and down have to do with people making money on that volatility. Melissa yeah. David you cant discount that possibility. Im david asman. Glad you could join us. Very important day on after the bell. This hour were taking stock of what happened this week and what investors are preparing for in the next leg of this historical market transition. Weve got a jampacked show. Among our guests, market watcher, harry dent. Back no November Harry predicted a late january, early february selloff. I kid you not. So where does a man who nailed the prediction see things going from here . Former fed governor fred mishkin joins us as well. Charles schwab chief investment strategist, Liz Ann Sonders and herman cain. We need the pulse from main street. That is why herman is here. How americans are coping with the dramatic swings. First go to the floors of cme and new york stock exchange. Nicole, dow and and s p out of correction territory. Of course that could change on monday. No doubt. You h
Of the s p 500. Just about a half a point higher. We are going to be hearing from travellers United Technologies verizon and many more out later this afternoon. Its all about tech. Beyond earnings here the other big stories were watching this morning in greece today the government submitted a bill needed to officially start talks in the rescue package. The Prime Minister has until tomorrow night to get the measures adopted in parliament. Increasing year over year last month but only slightly. This shows how a slowing economy is hurting Investor Confidence and in Corporate News out today, the ceo was stepping down. This comes after an independent investigation says he was aware the company was inflating his profits over a number of years. Ibms earnings top which normally happens but revenues fell for a 13th straight quarter. It had to be because of the stronger dollar. You dont get revenue drops of 13. 5 . I dont know what organically it was. The strong dollar continuing to weigh on the