Wednesday. Feels like a friday on after the bell. Lets look at the news thats happening at this hour. Team coverage with more on the markets. Hillary vaughn, covering the president elect. Lets start with you, the day before thanksgiving. What are we seeing . We are seeing a retreat partially for the s p. The dow transports, all retreating from record highs but the dow closing at 29872 on track for november since 1928. Youve got to go back really far. The nasdaq, first, record close september. 12,000 94. The first force was this rotation weve seen for the week out of tech to cyclicals that reversed today. Energy was your worst performer and tech was your second best performer. The second we noticed is the Economic Data that poured in this morning. That was a reality for many investors. Jobless claims rose for two weeks in a row. The First Time Since july, 778,000 americans filing for firsttime unemployment benefits. Claims rose the most in states where infections also rose the most. Min
Reporter good morning. The winds are whipping us around, as you can see here in sea bright, new jersey. Take a look behind me. We are standing on a berm, and this storm is battering the jersey shoreline. The waves slamming against the shore. But here in this town its not so much the ocean thats threatening the community, but a river just a block away. Rough surf, strong winds and steady rain that swelled up the shrewesbury river, causing flooding on streets in sea bright, new jersey, the town vulnerable because its squeezed in between the river and the ocean. The high water is bringing back bad memories of another storm. It sent all of us into a bit of a panic because it brought back all of sandy and we heard sandy on the news and it kind of gets your heart racing. Reporter this small town still rebuilding after sandy is on edge. Its pretty bad. My motherinlaw lives in town, she was evacuated for a few weeks, so were hoping not to have is a repeat of that. Reporter in union beach water
From the connection to joaquin. Well talk more about it later. Thats it for now. There are certainly worries about the weather at the jersey shore especially in lowlying areas. Cbs 2s Christine Sloan joins us live from union beach, new jersey, where the water is already threatening homes. Kristine. Reporter the winds are strong. Its nasty out here. We are standing along the raritan bay and all day we have been watching the water churning, the bay churning, the water crashing over this bulkhead bringing all kinds of debris here. And we have been watching the water smashing into homes along the waterfront. Folks feeling the effects of the rain up and down the jersey shore. Watching the waves crash into homes, hearing the wind howell, nerveracking for residents along the water in union beach, new jersey. Im very nervous. Reporter she evacuated with her dog. This flooded street stands between her and the home she rebuilt after sandy. Four times i had to leave because of flooding. I was tak
Decline led by apple. Equities following the most in eight weeks. First up, headlines with bloomberg news. The u. S. Ad informed government about the possibility of an attack against the countrys subways. The Prime Minister said Islamic State extremists captured in this country have been planning such an event. The Obama Administration has not confirmed any plot. The business front, nike stock , beating estimates. Worldwide future orders are up 14 . Juststs and estimated 10 . Saul stocks fall for percent. Devices is of the extremely rare. Those are the top headlines. Back to you. Lets get more on stock selloff. Billion as a market strategist, the companys private client group. He comes to us from across the river in new jersey. A tough day for equities. We saw the selling across the board. What does this tell you about the environment . Reminds us there is risk in the environment. More than 1000 days were the market has gone without a correction. We have seen good fundamentals during t
At nearly 63 a barrel. The decline is hitting the Energy Sector hard with more than a third of the s p hitting 52week lows. The here to discuss all of it, Charlie Gasparino. Matt welch, cohost of the independents. Also the editorinchief of reason magazine. Charlie, what do you think . Down more even as were talking. Last six years rich people have done very well under president obama. Melissa thats right. They were able to benefit off the multiple qes. The average person got screwed. Now kind of an interesting juxtaposition. The average person is doing pretty well now. Why is that . The economy is getting better. Not just that, when gas prices go down and oil prices go down that is tax cut to the working class. I think thats a good thing long term for this economy. I think fact inflation is low, average people have more money their pocket may not be good for markets but good for the economy. Melissa vix having biggest gain in two months. Very ron so . People worried about the political