Higher density battery, greener, but the technological breakthrough towards that are still speculative so the market reacted negatively to that news. Right the bull case is that were seeing built today say that if you were to be able to cut the cost by 56 in three years, it would have enormous ramifications on volume, implications for margins and ostensibly positive for the stock. Cramer said it best this morning, if you were a believer going into the event, you remain a believer and if not, maybe youre not. Fair enough its absolutely true that the Battery Technologies worldwide tesla and everybody elses will continue to get cheaper and better thats a given thats just the all laws that support Technological Breakthroughs support that theory so thats already baked into the price. You know, all the disruptive capacity of the technology is already baked into the price theres Everything Else is just sexy brand, elon cult personality who of course deserves all the credit in the world he adm
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
Talking more stimulus. Then you have the cable rate. A lot of extension for benefits and the u. K. The cable rate does not move. It is a consistently stronger dollar. Same thing for the gilt market in the u. K. As well. Crude also going nowhere. The real action is in the equity market. Lets dig into that top story in europe. U. K. Chancellor of the exchequer rishi sunak planning to rescue millions of jobs at the coronavirus threatens to derail the u. K. Economy. I know people are anxious and afraid and exhausted at the prospect of further restrictions on our economic and social freedom. For at least the next six months, the virus and restrictions are going to be a fact of our lives. I cannot save every business. I cannot save every job. No chancellor could. The government will directly support the wages of people in businesses to face depressed demand the option of keeping employees in a job on shorter hours rather than making them redundant these are radical interventions in the u. K.
The Fatal Shooting this past spring of breonna taylor. Two police in her hometown of louisville, kentucky were shot after they were called to an area downtown yesterday. Police announced a curfew for the next two nights. The officers injuries were not lifethreatening. Police say they have made nearly 100 arrests in the city. There were also protests in new york, chicago, atlanta, and seattle. Bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories from around the world we are following. Stocks reversing initial declines. Strong housing dated today and speculation of a new round of economic stimulus. We will discuss with tracy ahearn. It is one of the largest deals yet. United it was via United Wholesale mortgage valued at 15 billion. We will speak with mat ishbia
The god of [laughter] stocks. And right now were looking at the kind of session, charles, where we need to start with the intraday charts because weve already seen this mornings pretty powerful rally lose some momentum, but that actual could actually could change. Im watching a monitor right now because philly fed president patrick hard kerr who earlier this week said the fed could afford to end its tightening cycle is about to start a fed webinar on jobs and employment at any moment. As we monitor his comments and any marketmoving messages he may give, lets show you those intradays. At the open you see the dow spiked 455 points powered by the july consumer inflation data which showed that for the 13th month in a row the pace of rising prices slowed. Right now though the dow up 161 is. So weve kind of fritteredded away a lot of that. The blue chips along with the Broader Market still cant hold on to most of the gains. You can see the s p is up 12, high of the session a gain of 59 in pa