Alltime high of 70plus thousand on a sevenday average. Steve weiss, turn to you dow down 10 from its high no, we dont have control of the virus. We dont have stimulus were not rounding the corner. We are, as dr. Scott gottlieb said on squawk entering the most difficult phase of the pandemic we have yields lower s ps down for three Straight Days what do we do with this today, steve . Well, ive taken off a number of positions ive added some shorts, added some puts to protect stocks for earnings theyve done a little bit, but ineffective when you look at the carnage thats out there in stocks like u. P. S. And microsoft, which both had good quarters im very cautious on the markets. Were through earnings earnings hasnt been a lift. Even though its a good earnings quarter, put it in perspective its still down 16 year over year so, markets are way overvalued corona is a big issue. I dont see returning to march lows because i checked the number of cases in china and south korea and the philippi
Digital sales. More on that in a moment some hope on the vaccine front as well to mention j j entering trials with 60,000 volunteers though cases rising in many states here and abroad down 450 points. A sharp selloff in half an hour as kelly and frank were discussing on the show well speak with Ceo Marc Benioff well discuss how the pandemic changed business and his thoughts on oracle and tiktok deal plus more walmart is hiring tens of thousands of workers well speak to fubu founder and shark daymond john the stories were watching, mike santoli tracking action, sara with a look at nikes quarter mike, lets kick things off with you. Down 2 on s p. It seems as if really this rolling correction period in september has Unfinished Business to it didnt seem news driven though incrementally coming into the week, weak seasonal patterns a general sense if you were talking about an economic recovery, you werent getting fresh confirmation of that day to day of course nasdaq is in sell the rallies m
Particularly for tech and tech advances. Desperatelys a calm looking for news flow on the pandemic, and lets not forget the lack of stimulus in washington is just stunning. It is almost hard to believe we are here in the middle of september. Comparehink we have to the selloff. The character was different. This wasnt about big tech. Industrials,als, materials, energy. Thats where the price action was over the last one he four hours. Tom we are focused on Prime Minister johnson. Comments soon, and then a speech tonight to you and the nation at 8 00 p. M. Ive got to go to the pub closing at 10 00 p. M. Can you expend the difference between a pub closing and someone getting the virus at 9 00 p. M. Versus the usual midnight . [laughter] jonathan no i cannot, and the Prime Minister will have to explain that. I am not sure he will even try. I think the big issue for many people is just capacity. If you have a problem with people going out and mixing too much, then address capacity. If that is
59 minutes left to trade, kayla. And that green screen is not something we have seen in a while. We have a big show ahead today on closing bell. A big deal for big steel well talk to the ceo from Cleveland Cliffs and his outlook on the economy later, sneaker startup all birds scoring 100 million in fresh funding. Valuing the company at 1. 7 billion the coceo will join us to tell us how his Company Plans to spend that cash and well have that later on in the show. Lets focus in on the big show were tracking to days rally. Theyre covering the latest tensions in the tech cold war with china start us off on the Broader Market and what youre seeing behind the scenes today. Yeah. Market making the case that last weeks lows and got some traction near the levels its not Something Else tachlt a look at the s p 500 year to date all the indices have a similar look with different mag any tudz we were talking about this level for a long time. This is where we hit the lows a few times last week aroun
A big upgrade. We will find out what makes it stick out in that big social media space. Plus, petes got a fast pitch on one medical device maker he says could be a home run. We will tell you what it is as he lays out the big case thats medical miracle mystery chart. In a special bonus hour of fast money at 6 00 p. M. Eastern time, we are taking your burning trading questions. Tweet us cbs fast money and you might get them answered here live on the show in the next hour we start with that monster rally on wall street today the s p up more than 1. 5 and the dow jumping over 400 points as you can see there the nasdaq also up nearly 2 leading those markets Higher Energy stocks, financialis and the small caps as well investors appearing hopeful a new deal for stimulus is town the pike markets still down significantly for the month. Does todays action give you a reason to perhaps be more optimistic and for that perhaps, guy, i will turn to you first. Welcome its always wonderful to have you