Waste. Thats why the tech heavy nasdaq rallied when the dow tumbled 226 points and the s p 500 back slid sure, the tech titans respect crowing about it, that would be in bad form. But when you look at their numbers, versus the economy, gdp down over 9 in the Second Quarter, lets call that the worst ever, with 17 million continuing jobless claims. It feels like the old economy is lost the house of pain is the new companys gain. The house of pleasure at the very least, the cloud and communications have gotten a massive windfall here. Digitization pulled through by two, three, four, five years look at that 7. 4 billion revenue amazon reported. Theyre like the amazon mint, because people dont want to put themselves at risk bishy shoppig in person. Amazon is the answer to the pandemic every day some pundit comes out here and argues that the Federal Reserve is propping up the economy by keeping Interest Rates low. They tell us its a bubble they tell you to ignore it they imply the gains in t
That coming up. Im anne makovec at the live news desk here. And we are following the aftermath of a huge earthquake along the alaska peninsula. It was a 7. 8 magnitude that hit at about 10 12 last night. Local time. And then there was the tsunami warning for a very large area and that sent people fleeing to Higher Ground. Luckily that warning was called off without any damaging waves. This is video as the sirens were going off in kodiak overnight. The quake centered in the water and that tsunami warning was for south alaska, the peninsula and the aleutian islands. So you can imagine that was a lot of people that were trying to get to Higher Ground all at one time before it was called off about two hoaftethe quake. As far as any injuries or damage from that quake, we have not heard of any yet but we are talking about some remote areas so were going to continue to follow that for you. Back to you. Len. And thank you. A live look now at coronavirus cases in california. This Johns Hopkins
3,200. Tesla, watch this. Founder elon musk now worth about 70 billion. Richer than Warren Buffett. Another surge for that stock right now premarket, up another 100 a share, 6 . Wow. Apple getting closer to a 2 trillion valuation. Right now its up nearly five bucks at 388. Now, thats the big techs. We have a lot more quotes coming your way. Suffice it to say, big tech is having another terrific day. How about disney . A partial reopening despite a surge in new virus cases in florida. Masks, temperature checks, no lines. This was an important symbolic move to reopen disney world. Investors like it. Disney is back to 121. Talking about investors here, they like the good news on vaccines. Pfizer and biontech, they have been given fast track approval for two of their vaccine candidates. Stocks got a new shot in the arm when that news broke earlier this morning. Both stocks on the upside. What have we got for you . Later in the show, larry kudlow, he will have more on the next stimulus plan
Something really cool called working it out. Lets get to the news. And this is you and a fellow while touring the southern border yesterday in arizona, comedian, more often than not, President Trump signed a plaque, commemorating the 200th mile of border wall. You know the borders like 2,000 someone you know fairly well miles long, right . Seems a little premature what does the plaque say, to be continued trump must be one of those guys basically doing what you would who takes the burrito out of the be doing in clubs with each other on social media. Microwave with 40 seconds to go. Yeah. The ice crystals are so its, like, ive been doing refreshing its the best part. It as a podcast called working thats right President Trump visited the u. S. It out. Mexico border yesterday for the and i want to pressure you to first time this year, but they got him back come on. Seth i do want to do it. I really want to do it we got a runner and so i work on new you can give him a head start. Were goin
Which will hit in b about an hours time. The s p up by just three basis points coming up on todays show, former National Economic council dr director, gary kohn, will join us about reopening the the economy. The debate over funding for states and the Small Business ppp funding. Plus, a flood of big name earnings set to hit this afternoon including as you mentioned, alphabet. Starbucks, ford, am well also speak with the ceo after his Company Reports earnings, what consumers are doing and how much theyre snacking around the world. Lets focus on one hour of trade. Mike is tracking the Market Action in whats shaped up for a volatile day meg has Quarterly Results from big pharma names mike, start us off with the brorder market of what you seeing some pretty strong opposing currents holding the index in a steady mode. Look at the s p 500. This goes back a couple o years because i want to point out the areas that were encountering with this rally. Here we are around 2880. That takes us back t