Third row until it is repaired. Here is the concern, voiced by the president of teslas sales and Service Division about what could happen in an accident if someone is sitting in that third row of the model x. It is actually with the leverage of weight in the seat pulling it forward. So this would be an example of a front crash, where the weight of the passenger seat belted to that seat could cause that latch to fail. The third row for the model x, they are being replaced. And it will take about two hours for the repairs to happen. By the way, the 2700 vehicles almost all of them are here in the United States. There are very few delivered outside of the United States. Tesla says the repairs will be done over the next five weeks with a new seatback put in place to replace not only the hinge, but also the seatback. The recall will not impact model x production, which tesla is in the course of ramping up and one other note, tesla says this recall will not impact its financial results. So,
Points. Oil is about the only asset thats not participating today. In our road map this morning tech trifecta, amazon, microsoft beating expectations. And jack dorsey taking onethird of twitter shares and dishing them out to employees. Futures up sharply as Chinas Central Bank cut Interest Rates. Lowered by 25 basis points. Reserve requirement reduced by 50 basis points and comes a day after a rally which included a jump in the dow hints of further easing by the ebc. Look the communist mean business they wont let this economy slow that much more. They are trying to change thing. Were getting hints consumer is spending more in china. Chinese stock market, we used to talk about it every singling day, had a nice rally. Europe, draghidraghi. He manages to get the dollar to soar on just talk. Hes the pied piper of higher stock prices. Last night some quarters that are thinning like the new york mets. I talked to mr. October last night. Saw him at a party. The actual mr. October. Daniel murp
Look into the future. Today kicks off with a focus on investing. Our guest today is Hedge Fund Legend leon cooperman and gabelli and rick rieder. Were excited to bring you this conversation all here at 8 00 eastern time and later this week, president ial candidate jeb bush and bill ackman but first lets get you up to speed on todays headlines. So that was the 20 year i thought it was 20 years since we had all been here at the same time. Three months. No, three months. Summer is up. Beginning of game day. Its a feel good song. We are united. We have not seen each other for weeks. Lets get caught up this morning. U. S. He equity futures. Here it s. Well show you whats going on. We are rallying this morning. Dow looks like it would open up much higher. S p 500 looking higher as well. Another volatile trading session but by the end of it things were looking up there as well. Chinese stocks rallying into the close. The top economic planner approved Railway Projects worth nearly 11 billion.
Finish off a real nasty week, you notice the dow is now negative for the year. We deserve a break after the last five days. What i regard as a rolling bear market from minerals to industrials, to oil and gas and today, the semiconductors and amazingly, we get it money because its columbus day, were going to get a break. A day where Companies Know better than to say anything other than columbus sailed the ocean blue in 1492. Given the relative proximity to the s p 5001,196 closing level, even that could be frout with the pain of previous octobers. The market is a bundle of nerves right now. Were going to get a heap of things the bulls need to see happen this weekend, well slice through levels that were unthinkable three weeks ago when alibaba became public. It seems to be the demarkation point for pain we felt since. What could help turn the market around . Any sign that the stalemate over ukraine between germany and russia is coming to an end would help. No new outbreaks of ebola would
But the private sector does things better. That is our show coming up tonight. No. Now it is time for john stossel. John trusts. A lot depends on it and families often succeed because we trust families more than strangers. Government works and people trust the government rules are fair. Commerce works when Customers Trust that it will work. These are delicate relationships developed sometimes over a million years, but sometimes the internet is changing things for the better. I would argue that here is one example. Do you need to mop the floor, by the groceries and milk the cow . Task rabbit helps you get stuff done, first you post your task and then include all of the relevant details like location and price and other important information. It will blast out an sos to those in your neighborhood letting you know that your task is underway. And you are done. Really . A stranger coming into your house mopping the floor and buying groceries . Why would i trust the stranger . The owners say