Platform, facebook shares are plunges as the cash cow of an advertising machine takes a public hit dow is down 750 coming up on todays show, a recession unlike any weve seen before the imf shocking the Investment Community with a huge negative revision to the forecast we have an exclusive interview with the managing director of the imf. You do not want to miss that lets focus in on the big stories with 59 minutes left of trading. Mike santoli following the plunge phil lebeau tracking the fall in Airline Stocks the ceos meet at the white house today. And meg terrell has the surge in coronavirus cases and rethinking of the reopenings happening across the country lets start with you, mike, on the selloff. What are you seeing . Well, sarah remember back in february, march, almost every friday it seems like the market backed off. A little nervous what might come over the weekend it feels familiar with that today. In the context of what june is, a corrective phase its been training in a rang
Ten states are beginning to work on plans to open parts of their economy. Maybe in may, the fed launches a commercial paper funding fa s t facili facility there is an argument that calls for stocks to retest are fading. I thought yesterday was an important day with the dave kostin change. I did a lot of work, help with larry williams, about how many times when you have a 50 retracement or more, we have a retest the answer is almost never i think theres a lot of people coming on someone came on the air this morning and said in every single case you have to have a retest. Thats completely untrue if you bounced up 50 beginning last friday thats what we did. A lot of people say this thing is based on large cap companies. Thats what we do. Were not trading luncheonettes here thats not to the detriment of luncheonettes. Were not trading hair salons. Thats not the way it works. We trade Large Capitalization Companies that do better than smaller ones in this environment. Thats life. Is it fair
My colleagues at northwestern, it is my absolute pleasure to introduce to you today my friend Ginni Rometty bit before we get started i want to thank steve and bill whiteof as well as many members of the northwestern Senior Administration joint custody. So i met ginny the first time when she got the alumni award in 2010. By then she was on the list of the 50 most powerful women in business and i visited her later that year in 2010, and i had a conversation with her that prompted us to create the master of science in analytics which started with 40 students and a thousand applications, so thank you for proposing that. And then we had when the ibm anniversary was coming, ginni one of the first stops was here, not inot this building but in te center for the centennial lecture for ibm. That was march 2011. Then she invited me to an absolutely amazing event coinciding with a United Nations meeting in new york for the ibm anniversary. And shortly thereafter she began she became ceo of ibm, a
Despite posting a beat on the top and bottom line. Tesla is on pace for a sixth straight day of losses, now issuing some recalls for the cybertruck over faulty accelerator pedals lets begin with Market Reaction to israels retaliatory strike on iran, jim. So far, not a lot of signals that this is going to cause a conflagration. No. I talked last night about what we need on mad money, a crescendo of selling at 10 15, we thought we had that last night the fact that we now have decided that it wasnt important not we decided that it is less relevant, so weve come back up is, again, something i dont want to see. We have to have people decide that negatives are negatives, not that an avoidance of a negative is a positive so, i want to hear more from Richard Engel about israel, but the fact is that we were down so much, and then we come in, and then were up . What are we up for why are we up . How about flat how about down a little . We dont get that. So, it makes me suspicious of this opening
Gets a boost from u. S. Taxes and new drugs in the pipeline. The ceo says china is a major focus. China is getting much, much more important for us. In diagnostics its already the second most important market for us its still smaller on the farm suite cal side, theres no doubt the market is strongly growing. We scream for ice scream unilever sales beat expectations as the ice cream business returns to growth but the ceo says a mix of flavors from m a is needed to keep expansion from softening. We have a good cadence of developing our own brands. At the same time we compliment our portfolio. We are moving these businesses premium on a combination of organic, new brand launches, as well as m a activity just seeing some eurozone pmi manufacturing numbers coming out. They matched the forecast of 59. 6, down from 60. 6 for december the january manufacturing pmi numbers for the eurozone on the back of positive numbers out of other European Countries the dollar up slightly this morning to 1.