Chairman of the Federal Reserve Jerome Powell is right now explaining why his committee has left near zero rates untouched. Our fed panel is monitoring every single word of what he sees and says as far as stresses on the economic system. Speaking of stress, tensions are still running high from arizona to pennsylvania. This video just in as crowds form in two states, where the administration is launching vigorous challenges. All right, heres the current electoral picture vote. Weve got four states, the key to the presidency. Nevada, pennsylvania, georgia and north carolina. They are still up for grabs on the path to 270. Biden leading 264 to President Trumps 214. Weve got new numbers in nevada showing that joe bidens lead has expanded to 12,000 as team trump seeks legal action there. But keep your eye on the dow and on the markets here because weve got team fox business standing by with up to the minute developments inside both the trump and Biden Campaigns. Blake burman live at the whi
Then walmarts answer to amazon prime, we will give you a breakdown of what is included an whats not and finally, white house chief of staff mark meadows will join us live, we will talk stimulus, covid19 and the unrest across the nation thats happening toward the top of this hour and you will not want to miss that. Carl kayla, david, guys, everybody is taking stock of the journey we have had not just in august for stocks, but for the past five months, the dow best fivemonth gain since 2009, for the s p the best five months since 1938 and as we said at the top, david, we are heading into historically the worst month not just in general, but especially during election years, september and october have averaged negative returns and we will talk to mark meadows about politics which are increasingly going to be part of the picture here yeah, no doubt. I think you heard it with the last guest who appeared on squawk box at the very end of that show. We are entering what conceivably could be a
It is official. The pandemic has triggered the steepest Economic Contraction in history, but markets in this final hour dont look nearly as bad as they did when the number for gdp q2 came out earlier. Right now, the dow is down 193 points but the low had been a loss of more than 500 points. Yes, we saw that the covid had created a stunning collapse in growth but nowhere at the moment where we see the nasdaq up 56, thats where we see some real strength. But the reaction is most prevalent in safe haven government treasuries. To the tenyear yield which moves, by the way, inversely to the bonds price, diving into a hole. We are at. 55 for the tenyear yield, as worried investors decide it is risk off. All right. So President Trump is making comments right now at the headquarters of the American Red Cross in washington, d. C. Lets listen in for a moment. These therapies transfuse powerful antibodies from the blood of recovered patients to help treat those battling the current infection that
That goes to biogen. But broadcom still up 2 . The 10 year yield, 1. 79 . Guy lets take a look at where we are here in europe. We are trading toward session lows when it comes to stocks. Also a selloff when it comes to the oil market. The stocks now down the stoxx now down 0. 3 . In italy, bonds have been out in front of the story. They certainly been taking a much more cautious approach when it comes to the trade narrative and the Global Economy over the last few sessions. Equity markets have continued to push ever higher. Lets get some analysis on where we are right now. Lombard chief ts economist, joining us now. I want to start with your view of the u. S. Consumer. We seen two big retailers out today, missing. The stocks have been pummeled. Are you worried about the u. S. Consumer . Charles not really, to be quite honest. Guy why not . Charles i think real income is going up at a reasonable rate. The savings rate is not going to suddenly thaw, and therefore the consumer plunge, unt
Miss. While streak drills wework, facing questions about its finances. We get a read on investor appetite ahead of a potential ipo. First, shares of qualcomm falling in after hours trading after the chipmaker gave a downbeat fourthquarter sales forecast. At the highend, qualcomm is looking at 5. 1 billion sales. Analysts predicted that is in 5. 7 billion. Line with a warning issued back in april. Demand for smartphones, particularly in china, would be weak ahead of the introduction of 5g. Joining us is mike regan and sarah mcgregor. Explain whatf all, we are seeing driving this drop. How much does it have to do with china . Mike the revenue forecast for the current fiscal quarter was very light. The eps for the quarter also really light, and adjusted eps of as much as. 75, and the street was looking for 1. 10. It boils down to qualcomms basic business model. It has a controversial practice selling chips to manufacturers, they license chips to them, and they want royalties equal to a ce