About the election . No clean democrat sweep for example or a trump . Is it telling us a stimulus package is coming, not to worry about lockdowns . We will get into all of that. You are looking at a big preelection rally. So, whos going to win . I dont know. On one side of the polls shows biting with a lead nationally, but in battleground states mr. Trump has caught up and look at this impromptu trompe rallies has popped up overall all of the country over the weekend. This was in florida with convoys of Trump Supporters shopping traffic in several states and at trompe rallies, long lines of people trying to get it in. I didnt see any biden rallies or biden bumper stickers. Theres clearly an enthusiasm. Today a mad to the finish line with people lining up that mr. Trumps rallies. I switched on my tv at midnight last night and saw the president just starting his final rally joe biden will attend to events in pennsylvania and one in ohio today. The biden camp is worried about the low turn
Swan number three, hurricane zeta. We will show you exactly where it is right now and how its crushing oil, natural gas and energy stocks. At its lows the Dow Jones Industrials had fallen 908 points. So when you combine that with the previous two days, thats a drop of more than 1700 points. The s p 500 and the nasdaq are also struggling hard right now. We have the s p down 94, the nasdaq down 332. Look, now we see octobers gains wiped out for those two indices and oil getting crushed in the aftermarket session, down 5. 25 . We are now at 37. 51 a barrel. This is not helping, either. Three tech giants, facebook, twitter, alphabet google, adding to the nasdaqs woes. Their shares hammered as their ceos faced congressional scrutiny from both sides of the aisle during a very contentious hearing on capitol hill. We are about to show you the key moments and then our tech panel, top guys in the industry, will translate what it might mean for the stocks. Will the renewed lockdowns invite a supp
The overwhelming interest you showed in the first one last month included, of course, Trump Administrations larry kudlow, biden economist ben harris, mike novogra novogratz, robert kiyosaki, marc lasry. It was epic and we heard you tell us you want us to focus on all the Money Matters of the two president ial candidates. Its a win win so here we are at it again. Straight ahead, we are joined by forbes media chair and former republican president ial candidate steve forbes. Former chairman of the council of economic advisers austan goolsbee. Energy secretary in the Trump Administration dan br oushgs illet. Trillions of dollars of stimulus could be headed for the economy before the election. We stress could. The dow was down 332 points earlier. We are down just 26 now. S p lower by 10. Off the lows in a big way. The nasdaq off 84 points. Low of the session for the nasdaq, triple digits so definitely a better picture here. Boy, did we see an interesting move in the tenyear yield. It contin
The key is to think about it order by quarter. You had a deep drop in the economy last quarter, and you are back up to where 95 of the economy is restored, and then we all work out the high net was one point 2 a 1 to 2 of the economy, it will take a while to grind through that. The audi is every at the reality is every estimate has gotten better rather than worse. Why is that . Consumer activity stayed strong. The fiscal stimulus, the monetary stimulus, the programs the fed has between the government and congress, between what the fed did. To bring the hole economy back up to the level and now we have to let it work out from there and we probably need more stimulus for defined places still in difficulty. Restaurants, state and local governments, schools, performing events, venues, some of the Industries Airlines and other things that you cannot have people do at the rate we have before. The rest of the businesses, Dentists Office are busier than theyve ever been. We saw Consumer Spendi
It is a decided direction and big tech. The lagging sectors are energy as Oil Prices Fell 2 , and health care. A picture of an economy that has largely stabilized but is also at risk of stalling out, especially if there is a second wave of the virus. No vaccine and no stimulus forthcoming. Jobless claims moving in the wrong direction and new home sales rising more than expected as americans continue to hunker down. The vix inching higher. It did get to 29. Treasuries are moving higher. That means lower yields, or at least it did before the most recent change, and the dollar stronger versus all of the g10 currencies except the loonie. Higher dollar means lower gold prices, and we have seen gold turnaround. They did fall to a two month low earlier. Gold could stand to use more groep to lose more ground. David i want to connect two things. You mentioned uncertainty be out the recovery, how fast it is coming back. Jobless numbers not optimistic. Also doubts about the virus. We heard from j