We were up 259 earlier. S p 500, as you can see, it is up more than. 5 . We just came off the best sixmonth performance for the s p actually since 2009. Youve got the nasdaq higher right now, up 1. 5 . All of this, were watching. Were watching washington. House speaker nancy pelosi, treasury secretary Steven Mnuchin are continuing their discussions over this coronavirus stimulus bill that could pour trillions into the economy and help airlines, Small Business owners and the unemployed. We will have up to the minute details on the state of negotiations as they go on right now in washington. Then the travel industry is desperate for help from congress as a new study says the Hotel Industry might not be able to hold out much longer. One of the nations top hotel owner operators is here to tell us how his company is handling these challenging times. Hes here in a fox business exclusive. Meanwhile, pepsico is popping as people lock down at home during the pandemic, turned to its snacks and d
Surveillance. I am Francine Lacqua here in london. This is what the markets are looking at. We are trying to look out for any spot here in europe. Are am looking at what we in general focusing on, of away fromare that key data hours away from that key jobs data in washington. Of course labor day holiday, gold taking higher. Now lets get to the bloomberg first word news in london with leighann gerrans. Hi, leighann. Leighann good morning, francine. Avoiding a Government Shutdown right before the president ial election. Sources tell bloomberg House Speaker nancy pelosi, treasury secretary Steven Mnuchin and made this in full agreement on a phone call on tuesday. They were on a stalemate after virus relief to hold up a virus a stopgap spending bill. Meanwhile, Financial Aid to shore up the financial recovery, according to chicago fed president charles evans. He said the stalemate in washington is a significant downsize risk to the economy. Even with the deal, evans down beat on the econom
The election conversation right now. Speaker pelosi calling the house back into session for urgent action, she says, on the matter. So urgent they are not coming back until later this week. Meanwhile, the market shrugging off any possible chaos from the election. The s p, in fact, could hit an alltime high today. Goldman sachs is raising its forecast on the s p to 3600 by years end. Its also a big week for retail as well. Several Big Companies reporting profits starting with walmart and home depot tomorrow. Lots to talk about. Im Ashley Webster. Yes, stuart is back tomorrow. Varney company is about to begin. Its been run horribly and were going to make it good. Now, what am i supposed to do, let it continue to run badly so if you fix it they say oh, hes tampering with the election. Were not tampering. This is a con game by pelosi and schumer. Look, the post office, theres 25 billion sitting there but they really want 1 trillion to bail out their badly run states. Ashley yeah, that was
And so much more, on making money. So folks as we end the week the big investment theme is the retreat and big growth names those mega tech stocks that have been on fire for a long time, profit taking was sparked by concerns over the quality of teslas earnings, of course it came from selling those tax credits and slower cloud growth microsoft, and the smooth sailing has run into an air pocket and now these pockets though, theyve been great entry points in the past and the question now is will history repeat itself. Joining me, ubs private Wealth Management senior portfolio manager, katarina simoon it, and let me start with you, overall, the sense that we see these names and i guess investors have become accustomed to them being up every day. Why now . Why are they beginning to stumble . Im talking bigger tech names and the larger growth names. Of course, and charles, thank you for having me on the show. Well tech certainly has been an exciting sector to watch over the last couple of we
Morning. Dow, nasdaq and s p scoring fourth straight month of gains. One of americas old retailers filing for bankruptcy. Lord taylor hit hard by the coronavirus pandemic. Surprising results of new study ahead. Mornings with maria is live right now. Dagen global action, european markets up across the board. The euro zone economy showing signs of some growth, purchase Managers Index there for july coming in at 51. 8. Anything over 50 shows growth. In asia overnight mostly higher, private survey of chinas Manufacturing Activity showing growth for july. Purchase manager index hitting 9year high. Gold shines, on a roll closing in on 2,000 an ounce. White house officials and democrats set to meet again today to discuss covid19 stimulus bill. Cheryl white house chief of staff mark meadows says we still have a long way to go and hes not optimistic about reaching a solution soon. Democrats want the extra 600 of Unemployment Benefits which ran out last week extended an republicans want to reduc