Down 1. 6 yesterday, off of session lows. The dow industrials down 650 650 points, that was 2 and a quarter percent lower at 4 00 on wall street. Investors rattled over no progress on stimulus and a rise in covid cases. Its a big day for earnings, dow components merck, 3m. Caterpillar all reporting quarterly numbers this morning. We will get a snapshot of the airlines when jetblue reports and a look at big pharma when pfizer reports. The road to the white house, we hit the one week to go mark, americans are headed th to the polls in seven short days. President trump and joe biden begin the final push before election day. Stimulus negotiations losing momentum, time is running out for lawmakers to make a deal before november 3rd. House Speaker Nancy Pelosi says she remains opt my particular over talks optimistic over talks. Congressman tom reed told me yesterday if we dont have a deal by election day, we may not have one until february. Todays the day, my new book, the cost, trump, china
Good morning welcome to squawk box. Im becky quick with joe kernen and Andrew Ross Sorkin weve been on a bit of a winning streak up four days in a row. Yesterday the dow was up this morning, you are seeing a little pull back dow down s p down and nasdaq off by 172 yesterday, Goldman Sachs helped. Good news from moderna godm goldman came out with much better numbers than anticipated. Also looking at the trezy yield. The 10year is sitting about 0. 622 good morning. As joe mentioned earlier the twitter shares are lower after the company showed dozens of users were part of a twitter hack targeting some employees who had access to systems and tools. Among those hacked joe biden, jeff bezos, bill gates, elon musk all telling users to send massive amounts of bit koip to an address they are diagnosing the problem and will share everything once the picture becomes more clear if they got in through employees with tools and access to accounts that raises questions about security procedures at tho
Amazon apple and microsoft with a run clipped midday when the fed chair said he wasnt thinking about thinking about raising rates. Does zero forever, what does that mean for this rally at this point . Well, it means, you know, everybody said it so much splitting the at tom here. Weve very much gone the route of japan i think its absolute madness. I have no idea why he count hld have just said we remain data dependent and thats it. Ill say this, that to me seems to be the same autopilot today statement that he said back in october of 2018 on the other side that he got frikaseed for i think the fed and Central Banks globally are the main reason we are seeing this huge chasm between the have and have n nots when i heard that, i automatically thought, and maybe this is just my nature, that things must be really bad if hes saying that hes not thinking about thinking about raising rates, that were that far off from even contemplating that move. Well, yeah, it was a little mo more downbeat th
59 minutes we are session highs on the dow record highs on the nasdaq composite intraday and set for a record close coming up, the rebound for Airline Stocks has been fast and furious. Is there enough demand to justify the rise well get a firsthand look with robin hayes. Plus, a powerful email from a Goldman Sachs employee about equality in america made the rounds on wall street in the past few days. Well speak with freddererick ba that is coming up on the show. Lets focus in on the big stories were watching to day. Mike san thole and Brian Sullivan watching the Energy Sector which is helping lead the market gains today mike, lets kick things off with you. Yeah, well, this rally continues to impress not just in the magnitude of the gains since the march 23rd low but the persistence of it. Look at a two year chart this is really now a broad move. Up until around this point, you can say it was relatively narrow yes, some of beaten down stocks gained most. Mostst reas of the reason is th
613, s p down about 75 and nasdaq off by almost 200 on concerns about what we heard out of the white house last night. Joe mentioned those numbers. 100,000, to 240,000 americans potentially dying from this. The treasury market where yields have come down right at about 0. 619 . Some pressure as people move into treasuries as a safe haven. Andrew part of that, we talked about, so much of the money being rebalanced to some degree was propping that up that money wont be there today or the rest of the week or rest of the month because so many of the Pension Funds were there irrespective of the numbers we were hearing well put some pressure on the market in the meantime, the number of confirmed cases has reached 189,000. More than 4,000 people have died in new york city alone the latest death toll has exceeded 18,000. Maine is the latest state to issue stay at home order joining 28 other states. This morning, three out of four americans are facing some sort of lockdown due to the coronaviru