Say the least after a bit of a rebound the other day when i was on with you, yesterday i was not here for what was a decline overall in all the markets. I think we are in a new era of volatility. Every single time we get an up opening people say, okay, i guess that selloff is over and when we get the printed selloff people say this selloff is going to go on for ages. I urge people to step back and recognize we are in a period where theres a lot of vacuum, a lot of people trying to buy when its going up, a lot of people trying to sell when its going down and just interpret that as just being enthusiasm, greed and then fear and accept it that its here to stay because its really the undercurrent behind these moves. Okay. And what does that mean in terms of this socalled playbook that you often offer people who listen to what you have to say sure. It means that if you think that it is going to bounce today because it was down hard yesterday, dont make the first move wait to see whether the
Benefited from the stay at home trend, both popped into the open both have gone lower all day long big swings and stocks are set for the second straight week of losses the s p 500 just fell through the 50 huday moving average. 59 minutes to go on a volatile day, week, and final hour of trade. The s p 500 is flat right now. Fwha but that belies the volatility that youre talking about. We have a big lineup on the show coming up, the ceo of kroger will join us on the back of the companys strong Earnings Report better than expected guidance as well plus, labor secretary Eugene Scalia will be with us to discuss the job situation in the country and the renewed push by some companies to bring workers back to the office and one brookings economist has a bold idea to get america back to work and speed up the recovery pay people to have a covid19 vaccine. But lets get straight to the market another wild session to close out a roller coaster week. Mike santoli is tracking all of the action today
One basis point. Crewed up by over 1 , but it has been a brutal crude up by over 1 , but it has been a brutal week. Its time now for global exchange, where we bring you the market moving news from all around the world. Lets kick it off with the latest on the trade war. Chinese officials are narrowing the scope of what they will address in highlevel talks that kick off thursday in d. C. Bloombergs shawn donnan joins us on the phone. What do we know so far . Shawn the chinese delegation is coming again to washington this week, led by chinese vice premier liu he. He has been saying there are two big things they will take off the table this week. That is any discussion of broader industrial policy, and that is made in china 2025, this plan from xi jinping to dominate the world in areas like robotics and artificial intelligence, and also government subsidies. These are the subsidies that have really fueled chinas industrial rise over the past 20 or 30 years. They are off the table as far as
Five minutes to make an opening statement. Today the committee is holding our second hearing on the use of racial facial Recognition Technology. We will be examining the use of this technology by Law Enforcement agencies across the federal government. We had a broad survey of full range of issues, raised by technology. We heard from a number of experts about the benefits and the dangers of this technology across government and the entire private sector. Stark conclusion after our last hearing was that this technology is evolving extremely rapidly, without any really safeguards, whether were talking about commercial use or government use, the real concerns about the risks that this Technology Poses to our civil rights and liberties and our rights to privacy. The other conclusion from our last hearing was that these concerns are indeed bipartisan. As we saw at our last hearing, among conservatives and liberals, republic republicans and democrats thats a widerange agreement we should be c
And after yesterdays selloff where we saw bond market selloff and the yields higher and the pressure on the tech stocks, we have a reverse. Some of the big tech heavyweight on doing a lefty doing the lifting on the day. The adp number showing that there is softening in the labor market and maybe the Federal Reserve and maybe the Federal Reserve isnt going to have to go so hard so fast. We are seeing big going flat on the day as the dollar comes down from what has been a rapid run up. Lets look at the individual players. We have seen tesla, the outperformer of the toys on the day. We are seeing palantir higher. It is getting close to clinching that important deal with the u. K. With the nhs. Zoom on the downside, one of the worst performers. It has been announced, some new products and analysts were critically overwhelmed when they try to compete with the microsoft. Lets go back to the crypto story. A jury has been selected, opening arguments are said to start today for sam brickman fre