Services committee and how the markets may react. Then we will talk a bit about this try yant stake in our Parent Company comcast, what is the behind the thinking at triant and what if anything may owe dur as a result. Teslas battery day, where that stock is trying to recover this morning after yet another tweet from elon musk which is part of the discussion today, jim. Whether or not hes setting expectations in a different way saying that some of this high volume production is a phenomenon still a couple years away. Hes giving us an underpromise, overdeliver, i think, which is highly unlike him, but it could make more a little more pizzazz. Theres been so much talk about battery day, maybe he lowers expectations an blow them out. People come out and want to buy tesla, want to buy amazon, positive notes about apple, positive note about facebook its just become the pattern youre waiting and waiting for when the selling is over and then, david, they cannot resist. Theyre down 15 and 17 p
From home and implementing new restrictions he is speaking to the uk as we speak. And big tech stocks gaining back some ground after a rough month. Amazon climbing up analysts say the selloff created an attractive entry point. Sara, we have 59 minutes another volatile session amazon is nicely higher. The Broader Markets are slightly higher yeah, taking all of Consumer Discretionary it with. Retail winners today as well coming up on todays show, despite the upturn, the nasdaq is the underperformer in the month of september so far. Were going to ask tiech investr dan niles where he is putting his money to work. Even the ceo of levi will join us with a look at how consumers have spending money. And speaking of retail, were counting down to nike earnings to day after the close, nike by the way, best performer in the dow right now. Well get results from stitch fix, kb home and teslas Shareholder Meeting and battery day. It is shaping up to be a busy afternoon of news. 58 minutes left of tra
President trump refuses to commit to if he loses the election. He says he could try to accelerate the vaccine approval process ahead of november 3rd. Just 6 00 a. M. Here in the si of london. Ma us in is off today. Lets get a look at the markets. The nasdaq dropping below 3 . The benchmark in asia down more than 1. 5 . Futures, there you all in the red. Move over the board. Lets look at what happened across as set. The dollar still on course for the strongest week since april. Were up. 1 of a percent. Trading below 1900. Citi says more upside. And Morgan Stanley taking the flip side. Well talk about that later. The crude just under 4 a barrel. John authors hes without a piece. He says this bout of stock market angst looks much darker. Earlier sell offs is an intent to correct excessive prices in companies. Dominant he said we took things too far as we might have taken things in completely the wrong direction. Lets digest all of this with georgette, senior analyst. We had this selloff.
Lets get straight to steve liesman. Jay powell testimony before the House Services committee will note improvement in the economy saying Household Spending has recovered three quarters of the decline and say this is in part response to federal spending and higher Unemployment Benefits which is running down he said housing has rebounded and Business Investment showing signs of improvement but overall employment and Business Activity with well below the prepandemic levels an the out light is uncertain. He makes special mention of the feds main Street Lending program, a 600 billion program with a backstop from the troo z treasury hell be speaking tomorrow before the house financial Services Committee with treasury secretary Steve Mnuchin and this is required testimony about the cares act where they have to quarterly appear before congress and discuss progress with the lending programs. The terminology, highly uncertain, is that different from what the clair has used in the past. This is t
Talking more stimulus. Then you have the cable rate. A lot of extension for benefits and the u. K. The cable rate does not move. It is a consistently stronger dollar. Same thing for the gilt market in the u. K. As well. Crude also going nowhere. The real action is in the equity market. Lets dig into that top story in europe. U. K. Chancellor of the exchequer rishi sunak planning to rescue millions of jobs at the coronavirus threatens to derail the u. K. Economy. I know people are anxious and afraid and exhausted at the prospect of further restrictions on our economic and social freedom. For at least the next six months, the virus and restrictions are going to be a fact of our lives. I cannot save every business. I cannot save every job. No chancellor could. The government will directly support the wages of people in businesses to face depressed demand the option of keeping employees in a job on shorter hours rather than making them redundant these are radical interventions in the u. K.