The printed term president with this idea, lets talk of more states joining morocco, even saudi arabia, it was a trumped triumph so the media largely ignored, that is politics in the election, like money, the dow industrial this morning will open with a gain of 100 points, small change to the s p and a small gain for that nasdaq, the fed is likely to announce today that Interest Rates will stay low for years plus encouraging vaccine and virus treatment news from eli lilly, i got that, sally madeley and paul but the point about the storm, it is moving very slowly, that means drenching rain that goes on and on and maybe two to 3 feet of rainfall in some places, it is a big storm reaching from mobile to northern florida up into georgia and even the carolinas, it is wednesday september the 16th, i believe it is 47 days to the election, Varney Company is about to begin. Stuart[applause] i just have one thing to say ill tell you what if i had the talent of any one of these people, id be elec
Tomorrow, a big day on capitol hill and a big day for silicon valley. The ceos of facebook, google, willbet, apple, and amazon all be testifying before the house antitrust subcommittee. We will speak to a member of that committee, representative hank johnson, in just a moment. First, we want to look at how markets are moving ahead of those reports. I want to bring in bloombergs kailey leinz, who has been following the market move today. Kailey we really saw the downward move heading right into the close. Antitrust course that Committee Hearing tomorrow as well as a fed decision. There is a lot going on overall leading to a risk off tone, especially for the nasdaq, which ended the day lower. It really was tech among the biggest laggards today. Of the barrel. M 1. 5 ties were actually up to 2 . Bond proxy stocks getting a boost. We are now sitting at 58 basis points on the 10 year yield, within four basis points of the alltime record low we saw back in arch. Does lly emily we are continu
And statewide protests for the increase, Hospital Capacity is at 8 , i see you capacity at 30 , while concerned, the state remains confident in preparation. We crushed the curve and we never experienced the big spike where we were not prepared for an increase. The governor threatens to withhold relief funding from counties who refuse to comply with reopening criteria, including a new facemask order. We are going to attach some considerations at consequent as to that, two and half billion dollars in this budget simply will not flow to those counties. The message is not sitting well with james gallant gallagher, and a statement he said once again, the governor is instituting a onesizefits all mandate, this time with major financial consequences if in his soul discretion we have not complied. Federal funding is being held hostage. He called out selfish californians and repeatedly employed people to wear masks, act as physical distancing, and wash their hands. Everybody cares about somebod
We have three markets. Maybe even more. After a day where the dow advanced 39 points, s p declined. 05 , nasdaq did one point, i want you to forget about the averages for a second or a week or a year or until the end of the pandemic. Thanks to the onslaught of the coronavirus, something that no ones ever seen, were seeing Something Else thats incredible not just the complete untethering of main street from wall street, but the disentangling of even small publicly traded companies and medium size ones from the big dogs that have it easy and can handle this hellatious moment. We all know main street isnt wall street. When we get another hideous jobs loss claims number like we did this morning, now were seeing more separation, that is its stunning. In my 40 years of investing, i have never seen anything like what im about to talk about so im going to walk you through what could amount to a destruction of a fair share of American Business that incredibly might not impact much of the stock
Biggest gain ever when it comes to wti in terms of percentage. We are losing steam there. We are not seeing a whole lot of movement here today. The offshore is slightly weaker. It does not seem like theres a whole lot of patterns you can actually string together here now that we are excluding japan. Ending the week back to where we started. Tom weve had another downgrade, another cut to forecast growth. Malaysia cutting its 2020 gdp growth estimates to 2 . A contraction of 2 . They are cutting their estimate to 2 on the coronavirus pandemic. Morgan stanley have upgraded malaysian equities. We will speak to Jonathan Gardner later in the show. We can has kim about the applications of that. Another grant outlook for malaysia. Worldwide cases of the coronavirus have reached more than one million infections and counting. Our chief north asia correspondent joins us on the line from hong kong. This is indeed a bleak milestone. Stephen thats right. Total673 is the latest were getting from the