Moo its biden versus trump trump stock, trump stock. Both of which are going in surprising directions. If you you thought the election is over, the president is trying to do an end run around the results and fighting tooth to nail today the dow lost 222 point [ screaming the s p 500 declined points at 8 . Nasdaq dipped 2. 2 hey. I know it didnt feel like it was so bad but if you were in the nasdaq except for a couple of names, wow. They crushed it. Why dont we start there with next weeks game olympian . On monday morning we are coming in and, sadly, im betting we pass the 200,000 mark. Thats right 200 thousa,000 thousand cases an the virus is hurting business. If not monday, tuesday, wednesday, a question of when, not if i know there is a sense that we have had a big vshaped recovery which is terrific. But our inability to stop the spread is putting a crimp on business orders and retail sales. Just yesterday, work day, reported a solid quarter we have the coceos on the show but they me
Cfo about why all the m a is going on and how billionsof dollars vanished in hollywood as the screening giant shuts down completely it is thursday, october 22, and this is Worldwide Exchange. I think video killed the video star, answer that the anyway, welcome from wherever in the world you may be watching. Thank you for joining us well get to that squibby story in a few minutes but right now here is how the Global Markets are setting up their day. Stock market, well call them done to maybe flat nasdaq a little bit in the green, all this after stocks closed down yesterday, dow slipping 100 Investors Holding out hope for a stimulus deal and also starting to worry more about the election more on that in a few minutes. Major indexes all on pace to snap their multiweek win streaks. Nasdaq down slightly more. And today well get jobless claims number out at 8 30 as they always are on a thursday. For the first Time Applications may be coming in at 875,000 like they did in the latest week. Las
The dow as the president says the u. S. Government should take a cut of its deal. Apple inches toward a 2 trillion market cap. The price were looking for to hit that level is 4. 6777 about 27 above where we are now. Apple is up 1 today gold topping 2,000 an ounce for the first time ever. The precious metal is up as the market attempts to price in a postpandemic recovery, there are new signs the road back could be longer and bumpier than experts think steve is digging into the data good afternoon. Even if the forecast of economists for the strong second half ebound pans out, the u. S. Economy is still going to be in the e kwif lenquivalent of a reb year end the Unemployment Rate forecast decline from 11. 1 now to 9. 8 by december. Look at those numbers and the 9. 8 Unemployment Rate would make it the third highest among recessions we have done a good job of taking it down from 15 . It would be e clipted by the surgeon jobless followed by the 81 and 08 recessions. Charlie evans talking t
Claims and 21 million continuing claims better than the week before. But still incredibly bad on an absolute basis same thing with the stock market we get crushed today sell, sell, sell. Obliterated wrong. Once again, the averages spent most of the day well into the black despite still more hideous macro data either we sold off the end of the session, dow 148 points, s p falling 1. 2 nasdaq easing 4. 6 , again, the market was up most of the day. The climb were about the incredibly weak labor market what happened when we heard the claims numbers right from the oechg . There is fear actions the president might take against tech because of his anger about social media and the president s plans for punishing china over hong kong, punishment that could reverberate to our own companies that do business there so then why did the stock market open up big when those hideous figures at this point its become a cliche to insist that wall streets tote lit disconnected from main street. After all, h
Me jimcramer. I have to be honest with you, we could be on the verge of a depression, not a recession, a depression if things dont go right. Worst monthly report since 2009. 700,000 jobs lost and that doesnt even cover the last two weeks where we had 10 million jobless claims the bad numbers are just beginning, which is why the averages got hit today, dow losing 361, s p 3. 1 , nasdaq falling. It could have been worse earlier in the day, it was bad this is going to be a brutal period if we handle things right, it will be a short depression i would call it a decession or a repression but the first sounds silly and we dont want a repression can we have a mini depression . Were in unchartered waters. I hope so. Still, i think were making Real Progress in the economic front today, Small Businesses applied for hundreds of billions of dollars in loans that will allow them to stay open in a tough period and the government will forgive those loans if you pay your workers full disclosure i appl