Launching that service here in the u. S. Later this month. We are staying at home and we want our groceries and other purchases delivered and quickly. And we are on that story throughout the program today. As for the overall market, dead flat following a selloff on tuesday but keep in mind the dow and s p are up 40 from their march lows and the nasdaq is up 50 since then. Pretty impressive. President trump says he will pressure governors to reopen schools in the fall. This is a major step in getting the economy back on track. Kids go back to school, parents can then go back to work. That, of course, will be an issue for sure in the election, where joe biden has the lead in all of the polls, if you believe them, and even some wall street firms are apparently preparing for a biden win. But we have a democrat pollster coming up in a few minutes who says the race is a lot closer than the polls would indicate. Just wait until you hear what congresswoman ilhan omar wants to do to the economy
That you were giving bad dad jokes in honor of fathers day i hope that you had a very good fathers day. I hope that mat did as well all the invites. We were waiting we had the drinks ready, the smores ready, the whole operation. Did i mess up your address or something . There was nothing at that location it was like. Its hard to find on google the google maps they send you a little bit of an awkward direction. Its the wrong address. Like the phone numbers that i used to try to get. Exactly must have written the number down wrong lets start with markets this morning. The major averages are coming off their fourth week of gains the last five weeks. This is something that we have been watching closely. If you have been watching the markets the dow is more than 10 from the all time high the nasdaq as joe mentioned was closed up for six sessions in a row on friday and the nasdaq at this point is less than 2 from its all time highs we are been watching these very closely. Theyre the only ind
Warrant that level down sharply today we know you have all the analysis covered well try to get some rest tonight guys see you tomorrow morning thank you very much. Welcome to fast money, im Brian Sullivan and your traders on this very important night tonight are tim seymour and guy adami. Well get to that in a second. A record day on wall street, and for many a day to forget all three major averages plunging more than 7 . The dow the biggest loser, falling 2,013. That is not a misquote, thats the largest point drop ever in one of the top ten biggest decleanings on a percentage basis ever the transports crushed, falling nearly 0 , their worst day since all way back in september of 2001 on 9 11. Todays losses fueled by that crude crash we just discussed. The snrg sector having its worst day as well. Oil losing a quarter of its value, crude is trading below 31 a barrel many oil and gas stocks down 30 and 40 today. As the market assesses many of these companies ability to survive in a low
Saying it was on hopes for a rate cut on friday we talked a lot on friday about just whether and i made a joke that the market shows pricing the quickest sell off. Maybe the one individual that said, i got it and felt sicker it just seemed to subside a bit. Thats right. Human bee haflor is weird. Going into a twoday weekend except the good ones where you could have gotten 1,000 new cases. Up another 1,300 showing a bit of change. I love this graphic friday doesnt really sum it up it came back that was the end of the month. Some of that extra pressure was in the systematictype trading and there is an upside air pocket i think that the fed statement on friday sent the message we are here and probably dont have a very high threshold. It wasnt needed same as december of 2018 it was words that did the job for months until we got a rate cut. The bond market was very interesting. Instead of the bond market leading the stock. Take a look at treasuries. The 10year yield hit an alltime low yeste
American economy. He argues that corporations, despite americans ambivalence towards them are essential in in the balanced productive and Progressive Society by spurring innovation, rewarding talent and hard work and creating a bounty by which americans have come to depend. Walter, Deputy Editor of Harvard Business review writes that he writes a compelling defense of big does i this finance and the tech industry. Both their critics and their defenders will benefit from reading this book. He will be joined in conversation tonight by edward, u. S. National editor for Financial Times and author of the retreat of western liberalism. Please join me in welcoming tiger and edward. [applause] thank you, thank you very much. Thank you very much for that introduction. Its a delight to be here. Ive met tyler a million times iand weve been friends for many years. We dont always agree with each other, but i think that i can confidently say that hes not just an example of disagreeing without being d