University system. Retail post pandemic getting perhaps even grimmer as another Department Store set to announce bankruptcy taking on the fed. Druckenmiller calling out the fed. It is wednesday, may 13. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good morning welcome. Im Brian Sullivan thank you for spending your time with us here on cnbc it is a big news day from wall street to watch. Futures are basically flat, slightly higher. It could change. It is early. The dow closing down another 450 points yesterday for the second straight day of losses the nasdaq finally snapping a sixday win streak falling more than 2 on the day yesterday, futures basically flat now as well as investors continue to weigh comments from dr. Fauci warning of a second outbreak this fall if states move too quickly to reopen my approach towards the possibility of a rebound and second wave in the fall is that, a, it is entirely conceivable and possible and, b, i would hope between
System that we have and the chaos that is causing and just for those of you out there who are you know perhaps like myself perhaps too busy reading twitter all the time and not enough time to devote to reading a tale to cities i want to read the rest of that quote from the opening of a tele to cities because its quite relevant i think to our time because that book was written in the period leading up to the french revolution and then through the reign of terror which i think is similar to what we have today it was the best of times it was the worst of times it was age of wisdom it was the age of foolishness it was that of belief it was a part of incredulity it was the season of light it was a season of darkness it was the spring of hope it was the winter of despair we had everything before us we had nothing before us well well done Charles Dickens captured the guys at that moment to make a Christmas Carol being a condemnation of capitalism osama yes you know the ghost of christmas futu
Brennan and jon fortt. Markets have been well off the highs. Dow was up 937, trying to hang on to about 400 points on the dow right now. Lets bring in mark mahaney of rbc, david lovevitz of jpmorgan. We knew 2700, 2750 would be a bit of a battleground and its turning out to be exactly that yes, exactly. One of the things thats occurred here over the past couple days really over the course of the past weekend is you finally saw consensus earnings system begin to come down and the narrative that had been in the Market Equities are looking cheap, the question we were always asking was cheap relative to what earnings . When you use the new estimates that are around 145 a share, you know what youre seeing is stocks are looking fairly valued not outright cheap and i think thats a big part of why were seeing things run into resistance at these levels mark, its a great opportunity, davids answer, to ask you how in the world analysts are coming up with any kind of estimates given the lack of gu
System that we have and the chaos that is causing and just for those of you out there who are you know perhaps like myself perhaps too busy reading twitter all the time and not enough time to devote to reading a tale to cities i want to read the rest of that quote from the opening of a tele to cities because its quite relevant i think to our time because that book was written in the period leading up to the french revolution and then through the reign of terror which i think is similar to what we have today it was the best of times it was the worst of times it was age of wisdom it was the age of foolishness it was that of belief it was a pot of incredulity it was the season of light it was a season of darkness it was the spring of hope it was the winter of despair we had everything before us we had nothing before us well well done Charles Dickens captured the guys at that moment to make a Christmas Carol being a condemnation of capitalism osama yes you know the ghost of christmas futur
Cant show you my face but im going to tell you must story in 9093 this man was sentenced to death. They get charged with capital murder even though he didnt have the gun didnt pull the trigger didnt intend to kill anybody imagine living in your bathroom for the week with his son of a 23. 00. Confined within 4 gray walls fun its using hard to turn on to help him to leave death row. Max kaiser this is the kaiser report you know it was the best of times it was the worst of times stacey this sounds like the opening lines to a tale of 2 cities by Charles Dickens and he was somebody quite useful and relevant to this age because he was writing during the beginning of the end of the British Empire and also during the explosion of the wrong take class a lot of what he wrote about is the disaster capitalism caused by the ron to class so were in a very similar time to that with this pandemic meeting the over leveraged fake system that we have and the chaos that is causing and just for those of yo