What a big change, because at one point the dow, remember, was down 628 points. So this is really a different story. The nasdaq right now down 96 and the s p is down 11 points. The twoday selloff, by the way, in the nasdaq so severe this morning, it was actually within 25 points of correction territory. Since wednesdays record high of 12,056, the techheavy index is now down, as you can see right now, 103 points. Both snapping a fiveweek winning streak, the s p and the nasdaq. Were going to have our floor show trade thers ready with instant reaction for all of you. Now, the record selloff completely discounting a pretty positive august jobs report that showed an increase in 1. 37 million jobs with the Unemployment Rate dropping to 8. 4 . One company is helping to fill all those vacancies left behind by the coronavirus pandemic. Were going to introduce you to the ceo of shift pixie, helping big business find qualified workers in the gig economy. Plus, colleges struggling with infection r
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
For shinzo abe. The pound is big today. We are up by 1 . Governor of the bank of england indicating we are going to see the possibility of negative rates. We are, as you can see, seeing a big bid for the yen as well. Dollar is down. Stoxx 600 is low. S p absolutely flat. Kailey i want to bring you news. Mgm resorts, the casino operator, is cutting 18,000 jobs. That cut impacts over one quarter of its u. S. Workforce. It has been a hard time for casinos during this pandemic. Mgm operates not just in the u. S. , the las vegas strip, but also in macau. All macau travel was shut down, they have yet to catch up. Las vegas market makes up half its revenue. Mgm cutting 18,000 jobs. At the moment, the stock is higher by about 4 . Guy back to that story relating to the bank of england. Governor Andy Beshear Lee says there is plenty of room for more monetary stimulus. He spoke at the feds virtual jackson hole event earlier. He talked about what is in the box. We are not out of firepower by any m
Tiktok bid jim, we will start with the retail numbers lowes is a good one to start with, its been called depots quarter on steroids today. Look, i think that Martin Ellison has taken a Company Making it anything but an also ran. 35 camp is terrific hes really got finally hes got the e com down Marvin Ellison is a turn around man par excellence and this is an amazing quarter we dont want target to overshadow it too much because i like the stock and i love the fact it wasnt up big early on its a buy yeah. In store traffic or in store comps, jim, up 11, which is different than what we saw out of others. I mean, i guess when you dont have as fierce a web challenge in Home Improvement and you have the stay at Home Rebuilding boom, thats going to add to a couple huge dynamics. Yes, it will. Remember, there was a period where lowes was not digitized enough also didnt really have very Strong Customer service. All of thats changed under marvin he is the last person to ever want to champion hims
Additions here amgen, honeywell and salesforce which report after the bell. 59 minutes left of trade welcome to the big show, david yep and head on todays show as well sara, were going to discuss the Economic Data points and what the outlook is Going Forward were going to have the council of economic advisors acting chairman his name is tyler goodspeed. Hell be our guest plus, well focus on todays strong housing dwrat with redfins ceo glenn kelman. And it may be late in earnings season there are still some big names reporting after the bell including sales force, nordstrom, Toll Brothers and more well bring you all the numbers, sara, as soon as they hit the tape before all that, lets get straight to the market the major arnlgs following another record high for the s p 500 yesterday. Mike santoli is tracking all of the moves for us good morning i should say that is the last time ill do that, mike good afternoon, mike. 3 00 p. M. Is the last time were going to call it morning appreciate