Today, the covid and convention, but this is a big deal. Im outside in port arthur, texas. That is the biggest u. S. Oil refinery. That is the motiva refinery. It is shut down, flaring some gas. Just a skelton crew. They cant shut it completely down. That is shut. Oil and gas throughout this region shut. But more importantly the people. Take a look at the latest pictures of this morning people getting, the last plane out of saigon almost. The last few buses out of the port arthur dead center in the cone. Were dead set the eye of the storm could come ashore. If it is a cat4 storm that comes ashore, and youre in the wall, you will get quite a ride. You point out unsurvivable water in terms of storm surge. We talked to some folks that stayed in other hurricanes but after their experience, this time they say, im out of here. Trying to stay, when they said it would be category, would end up being a category 4, the possibility we would be in the eye, that is kind of scary. With harvey, we we
Markets are crumbling. We do have crude down 2. 70, down about 6. 7 . We have the new demand worries triggered by china tensions and the lingering pandemic, put in with all the markets. Here we go with followthrough. The dow right now down 566. We have the s p lower by 83. The nasdaq down 396. Our floor show traders, including jpmorgans david kelly, are getting in front of the cameras. They will have instant reaction. From northwestern to northeastern to west virginia, colleges are grappling with Coronavirus Closures and suspensions. The ceo of the nations leading directtostudent Digital Learning platform thinks higher ed, ready for this, is in a bubble and maybe the pandemic is about to pop it. Hes here in a fox business exclusive. Plus Jillian Michaels, one of the biggest names in fitness, is rolling out a new workout from home app as gyms struggle to reopen after the pandemic. Shes here to whip us into shape. We will get you the latest numbers from peloton. Gms stock electrified as
Everybody. Well see how the nasdaq settles. It is just about at that level right now. Look at big tech titans, microsoft, amazon, alphabet, facebook, apple, all those individual stocks down significantly today. Apple down nearly 7 . Apples market cap falling below the two trillion dollar milestone as well. On top of that, it is the worst day for oil in three months, sliding to the lowest level since june. Well cover all angles of this. Fox Business Team coverage, blake burman at the white house, gerri willis and Edward Lawrence standing by with their reporting. We begin market panel, carol roth and gary kaltbaum, kaltbaum Capital Management a fox news contributor. Let me start, gary, with the big rotation out of the big cap momentum stocks, particularly technology, the last three sessions i guess and it continued in a big way today. So where do you see all of this going . Well, look, the only thing more overdue than a correction in technology is if my knicks win the. [banba championshi
Deliver remarks on jobs and the economy, and from the Mankato Regional Airport in minnesota looking at the live pictures and then hes headed to wisconsin for another event weve got that all covered for you. Now, theres one area of the economy going full steam and thats housing. The exodus from the cities to the suburbs fueling demand for one company, so much they are actually struggling to fill thousands of open positions, even with millions of people still unemployed in this country weve got the ceo of two men and a truck, hes here on the housing hotspots and hes in the cities where people are going and there was this new forecast by the cdc, predicting that the u. S. Coronavirus death toll could reach 200,000, by september 5 but could a newly approved rapid saliva based test be a major game changer . Its pretty interesting stuff today former secretary of health and Human Service dr. Tom price is going to give his prognosis on this new test and a lot of other things within the pandemi
Notches a record close. We are up 162 points, much more than we needed. The s p up 15 points. The nasdaq up by 41. We are looking good right now. We will take all of this up with our floor show guys. Also coming up in just a few moments, weve got Philadelphia Fed president and ceo Patrick Parker who will sit down with Edward Lawrence to discuss his historic vote to change the feds inflation policies. The cleanup from hurricane laura in full force across the gulf coast as Power Companies work to turn the juice back on for folks down there. We are going to go live to lake charles, louisiana to get an update. And the one company is helping some of the biggest corporations in the nation return to work from the coronavirus pandemic in a safe and touchless manner. We will introduce you to the ceo of envoy. This is a fox business exclusive. Coming up, less than an hour to the closing bell and im Cheryl Casone in for liz claman. Lets start the claman countdown. Cheryl well, forget apple. Forge