2 , the nasdaq down about 1 3 4 that very much in focus because of those earnings that are looming. Joe teranova, you first. Youve got dr. Gottlieb saying the u. S. At a tipping point, youve got mark meadows at the white house saying were not going to control the pandemic. Is this mountain getting too steep to climb for the market . Well, without stimulus the answer to that unequivocally is yes. Rising virus cases need more stimulus there has been overs last couple of weeks a modest broadening out of the rally within the market, but its really been all about industries, scott, industrials, trading to an alltime high as a sector but why is that . Its on the belief there would be stimulus, consumer discretionary, examazon trading towards its highest levels why is that . Because theres monetary support in the form of stimulus. It just highlights how important stimulus is. You need this mosaic of coordination to respond to the virus and any incident of rising virus cases learned itself to
Watch. Maria the bottom line is there is an expectation that he will regulate the industry, even if you do have fracking, put new rules and regulations to cause some of these companies to go out of business. Again, stone cold liar. We saw him say in the president ial debate i never im going to ban fracking, play the tape. And then you play the tape maria are you expecting Amy Coney Barrett to be confirmed before the election . We fully expect judge Coney Barrett will be confirmed. Shes an originalist textualist who we think is made in the likes of a judge scalia. Maria people want to change their vote if they voted early because now theyre understanding more about what hunter biden has been involved in. Look, the hard drive from hell is about joe biden. This shows you how joe bidens been compromised by the committee Chinese Communist party. Maria what about the suppression of this information, senator . We issued these subpoenas on october 1st before the New York Post story about the l
Fastest pace in three months. I think probably the fed needs to be here, but the october number is the one you want to look forward to. Lets get the totals of what we learned today. It is kind of a good news, bad news day in terms of the economy for some we have had one good, one bad, and michigan is kind of neutral. Retail sales of 1. 9 in the month of september, much better than the forecast and much better than the. 6 gain the month before. Retail sales, ex autos also big. Car sales were strong during the month. And then we look at the control group, the part that goes directly into gdp, and that was percent inly up, 1. 4 august. In august it was down by. 3 . A significant boost for retail sales in the u. S. Economy in september. On the other hand, that news on the manufacturing side, Industrial Production falls. 6, a lot of that because airconditioners were switched off, utilities went down. When youre factoring production surprisingly went down by. 3 . That was the bad news for to
Watch. Maria the bottom line is there is an expectation that he will regulate the industry, even if you do have fracking, put new rules and regulations to cause some of these companies to go out of business. Again, stone cold liar. We saw him say in the president ial debate i never im going to ban fracking, play the tape. And then you play the tape maria are you expecting Amy Coney Barrett to be confirmed before the election . We fully expect judge Coney Barrett will be confirmed. Shes an originalist textualist who we think is made in the likes of a judge scalia. Maria people want to change their vote if they voted early because now theyre understanding more about what hunter biden has been involved in. Look, the hard drive from hell is about joe biden. This shows you how joe bidens been compromised by the committee Chinese Communist party. Maria what about the suppression of this information, senator . We issued these subpoenas on october 1st before the New York Post story about the l
Good wednesday morning im Caro Quintanilla with jon fortt and Julia Boorstin with us dow down 800, worst drop since about june 11th, on covid worries in the europe and United States, lockdown worries in france and germany oil is down about 6 vix getting closer to 40 were monitoring the ceos of twitter, facebook as they testify on section 230 well begin with dominic chu on more on what is driving the downswing. A lot of narrative around the rising covid cases, not just in the United States but europe as well markets may be taking their cues from whats happening in europe. Theyre talking about wider spread lockdowns in germany and france and whats if it happens here in the United States. Thats playing out in the markets right now. For the s p 500 specifically, below the 3300 mark, that is below both the 50day average price and the 100day average price for those indices, so many traders looking for technical or chart pattern levels as they look at trades today the s p 500, this little rol