Close proximity to a president ial election. We will hear from him throughout the day and the focus will turn to the jobs report. After u. S. Unemployment claims figures even this reading of the labor market we will be joined by larry kudlow from the white house for his reaction. Lets get to our main markets story. U. S. Stock futures continue their slide after the main gauge clocked its biggest plunge in three months, tech shares took in a selloffeating that knocked down the highest flyers. To put it all in context is dani burger. 750 billion wiped off the nasdaq, a painful day especially for a lot of the retail favorites, like tesla, falling down. Let me show you how this breaks down the chart. I want you to concentrate here, the nasdaq composite versus the s p and the equal weighted version. You can see most of the past month on the way up the nasdaq leads. The green day is the biggest so far. This little chunk at the end of the chart, you can see the biggest chart is the nasdaq fal
Platform, facebook shares are plunges as the cash cow of an advertising machine takes a public hit dow is down 750 coming up on todays show, a recession unlike any weve seen before the imf shocking the Investment Community with a huge negative revision to the forecast we have an exclusive interview with the managing director of the imf. You do not want to miss that lets focus in on the big stories with 59 minutes left of trading. Mike santoli following the plunge phil lebeau tracking the fall in Airline Stocks the ceos meet at the white house today. And meg terrell has the surge in coronavirus cases and rethinking of the reopenings happening across the country lets start with you, mike, on the selloff. What are you seeing . Well, sarah remember back in february, march, almost every friday it seems like the market backed off. A little nervous what might come over the weekend it feels familiar with that today. In the context of what june is, a corrective phase its been training in a rang
A much overdue look at the cyclical rally and the reopening story in general the v rally that a lot of people have been hoping for has been inverted theres an inverted v thats actually been happening. Lets start with Energy Stocks marathon, mro. Marathon was 6 at the start of the month. It goes to 9 and back to 6. This is essentially an inverted v. Hess looks the same way. If you look at general electric, it goes from 6 to 9, i believe, and goes back down again to essentially 6 and change, same situation, a v there caterpillar looks the same way united airlines, we watched with our mouth open it goes from 30 to 50 and back into the 30 range, all of this in a few weeks the market cap of citi group goes to 60 and back essentially to 48 thats what im talking about these inverted vs travel and les yoisure, 30 to. Youd think bond proxies would do well in this environment, but not today. They had a modest rise about 10 in the last few weeks, but even they werent safe. The market has voted it
Theyre all moving lower put on the positive side, a report that china will accelerate agriculture purchases from the u. S. Which could deescalate some trade tensions and were set for a particularly volatile final hour of trade this is the s p 500s first major options and futures rebalancing day of the year. We have 59 minutes left. Were down just over. 5 sara coming up on todays show, pressure mounting on apple over the treatment of App Developers weeshgs going to speak with Roger Mcnamee ahead of the Developers Conference plus, david kenny holds not only the companys ceo title but also the chief diversity officer. Hell discuss neilsens recognition of juneteenth and how they can push for more diversity in the workforce and can figure out a way to measure it as well lets get straight to the market another volatile session to close out the week on wall street one that is headed for another upweek mike santoli is tracking the down action weve seen this afternoon. Yeah. A little fatigue th
Housing market the Housing Market has been a strong part of the economy and also boeings 737 max test flight looked like it went pretty well. That stock is up nearly 10 . 59 minutes left if trade. Yeah, helping the dow outperform today coming up on todays show, etsy is major winner at stay at home trade. Shares doubling this year. Well ask Josh Silverman, sooce how theyre using the platform and well talk to larry kudlow about the rise of cases in the United States and the Economic Impact some states including just moments ago new jersey pausing their reopening measures as we stand, the s p 500 is up 1 lets focus on the big stories mike santoli is tracking to days market rally we have the details on gilead which Just Announced pricing for the coronavirus treatment. And julia has the latest on facebooks growing advertising boycotts mike, lets start with you and the broader markets. A tidy little bounce today. Getting back a portion of last weeks losses. Really concentrated on the smaller