President trump spoke earlier at the 2020 council for policy meeting in arlington, virginia. The president continued to criticize the use of mailin voting during the pandemic. [applause] [crowd cheering] [crowd chanting usa] you are really fantastic and i want to thank you very much. Fork you to the Council National policy. My Brother Robert would have wanted me to be here today. Thank you very much. [applause] together we are committed to protecting the American People, preserving american values, defending americas heritage and keeping america safe, strong, prosperous and free. Mcewan,o thank bob Kelly Shackleford and Jenny Beth Martin for your tremendous leadership of the cnp. You have done a fantastic job. We are joined by acting secretary of homeland security, who has done incredibly, chad wolf. [applause] pres. Trump thank you, very much. You are right in the heart of it. Some big things coming. Good job. Also lieutenant governor, a friend of mine, dan patrick of texas. [applause
Juniors bakery took a ppp loan at the beginning of the pandemic now the company has been laying off its workers. All 650 workers. Some have come back. Well take a look what the they have done with the money the owner will be back with us a little bit later today on power lunch which starts right now. Thank you, bill. Welcome. The s p hitsi inhitting its hig level. Lets get to bob with more on those market moves for us. Bob. Kelly, five straight up days for the s p 500 and Global Markets are rallying as well we had a terrific opening. Once again were falling back on the usual. The big megacap names. You know those names im talking about new highs for amazon, apple, microsoft, netflix as well. Were seeing a notable rally over seas in china and china related stocks in the United States doing well. Were seeing new highs, for example in alibaba, Shanghai Exchange at a twoyear high as officials over there literally trying to jawbone the markets higher they seem to be succeeding in the short
Crude dropping hugely today, as demand fears rise that demand is going to fall, hitting its lowest level now since 2002. Speaking of free fall, look at shares of boeing that air space giant asking now for a 60 bailout. It is down 25 today and on track for its worst month ever, doubling the losses it saw back in september of 2001. This stock was a 300 plus stock, not that along ago, kelly. Its just unbelievable. Tyler, thanks. Appreciate it. Heres what you need to know, everybody. There are now 200,000 cases of coronavirus globally about 7,000 of those are here in the icu. The u. S. And canada have now agreed mutually to close the border to limit travel between these two countries. The move, they say, wont impact trade. Thats been impacted by its own problems new york is dealing with the largest outbreak of coronavirus, with cases more than doubling to 2,000 overnight. Bob pisani is all over these big market moves today bob sullivan is watching crude as it craters. Kayla tausche is watc
On the consumer. We will dig into the fallout there as power lunch starts right now. Tyler, thanks. Welcome to power lunch, everyone stocks are selling off hard for the second day in a row. We are near session lows right now with the dow down about 600 points thats a 2. 4 drop for the dow for the s p the nasdaq down 2 today but if you add up yesterday and today, all three of these averages are down about 5 in just those two sessions. Take a look at some of the moves weighing on the dow. You have boeing, United Health, visa down 4 we were just discussing United Health a lot of different challenges there. Lets go to the New York Stock Exchange with a run down on todays selloff. Hi, bob. Kelly, an old saying on bleet if you cant trade on the fundamentals, trade on the technicals s p 500 the last two days this was yesterdays low, midmorning, another drop volume picked up, trading on technicals this happened a little while ago and the cdc announcementadded to new lows for the day. New lows
church. you recall that before out of 5 war to mom and experts, had no doubt that russia would be knocked out in a few days. meanwhile, the red army is withstanding a serious blow. the russians of the 1st serious adversary ah, door store says cassie was born. you got doll fornia. can you put up with a face? you say you re a guppy or sequoia operators are shore equal? i m each sca you saw a young push visiting on the raw, approached or near from sort of general wouldn t just circles of tele, ross, blue nor switch cars it in you, if dora melissa her promotions to come to them. the choice for some dinner near sort of rebel or girls that are unsure i am lord year or to share your so our board to leave for magnolia and your pray that i talked to him, grabbed on corporate all stronger the front. he allies realize that the soviets will fight hitler to the last and only then in october 1941. his lend lease extended to the ussr. but the majority of supplies, about 80 percent, still go