Shocking news, an outspoken founder leaving the company. And beta bearing down on the gulf coast as they brace for another storm. This is Worldwide Exchange right here on cnbc good morning, good afternoon and good evening thank you for joining us to start your week and lets get a check on your monday money and its looking like the sell off we have seen recently. Its early but stock futures are down 500 on the dow. Nearly 200 on the nasdaq theres a ton of news out there today. Well get to all of it in a moment but theres two big and important things happening that you have to Pay Attention to right now. Number one, the s p 500 has fallen three weeks in a rowand it just flows below its 50 Day Moving Average for the First Time Since april two, the biggest stocks are beginning to underperform. Some of them meaningfully. Take a look at these the s p 500 dropped 5 this month. But the biggest tech names, names that you know, theyre down 11, 12, 13 apple, down 19 in the month of september. Rem
Ginsburg made the political picture in washington significantly more complicated with some analysts saying the odds of another round of stimulus before the election falling sharply. Bank stocks are getting crushed today as well amid new report about major firms dealing in suspicious funds well have more on that in just a bit. We have 59 munz left left to goy volatile session still make for the worst day in a while. Percentage terms, were down 2. 2 as we stand ahead will be all over the selloff in the final hour of trade. Billionaire investor Mike Novogratz will join us with his take on todays plunge and whether he is buying any of the dips after three straight lease losing weeks and well speak with john kerry in an exclusive interview. Well get his take on the Supreme Court, on stimulus, on the election and that final month run in of campaigning which, of course, he knows so much about lets focus in on the big stories were watching on a very busy day of news mike san toll toli is track
Growth rate and job creation, now if you put the fed statement and higher jobless claims together, thats whats pushing stock prices down this morning. Look at it. The dow is off about 100, s p 60, nasdaq about 31, more on that in a second. All right, did you watch night 3 of the Democrats Convention . It was hate trump night. Speaker after speaker layed into the president in personal terms. He gets the blame for everything. Seems to me like the democrats have not gotten over their loss 4 years ago. The president was live tweeting all the way through. We will show you both sides of this, of course, but seems to me like all of the democrats have is hate trump. Varney company is about to begin. Stuart look at the red ink on the markets, first of all, down across the board but not that much. Lets get right at it. Larry kudlow, director of Economic Council at the white house. Larry, negatives this morning. More than 1. 1 million jobless claims, the fed says the virus is hurting growth, back
More republicans fall in primaries. Well get. White house advisor Peter Navarro. All that and so much more on making money. Charles like a grizzly, out like a teddy. The shortest bear market in history was a ferocious beast with everyone heading to the hills. Many predictions of a potential doom and Nuclear Winter for stocks that would last for years. Economic data was coming in better than expected there was extreme pessimism on wall street. Meanwhile Something Different was occurring on main street. Regular folks sensed an opportunity. It wasnt just millenial traders populating robinhood. We heard fidelity added 1. 2 million new accounts, lifting assets under management north of 3 trillion. Economic data continued to fool the experts the street took aim at the individual investors. This is where many experts made their fatal flaw, by loudly predicting individual investors would lose everything, as the rebound would not quote, end well, they boxed themselves out of this rebound. Now t
Killer, a fox business exclusive, this is really interesting, with the ceo behind the Public Company that owns the rooms where its all happening for these vaccines. A vaccine not coming soon enough for new york city. Times square still without its throngs of summertime tourists. In doughnut world, you go big or you go home. The ceo of krispy kreme takes us behind the scenes of his flagship store. The s p getting an alltime high. It just needs any gain whatsoever. We are just at the flat line at the moment. The dow up 47, looks to snap a twoday losing streak. Plus could housing be too hot to handle without more stimulus . Apple now truly in a club by itself. Less than an hour to the closing bell, lets start the claman countdown. Liz breaking news. Microsoft not oracle is and will be the company to buy tiktoks u. S. Assets and a binding deal will be signed by the september 15th deadline imposed by President Trump. In a fox business exclusive, sources close to negotiators at bytedance, th