Welcome to closing bell, everyone im wilfred frost along leslie picket in for sara isen today. Nasdaq holding on to some gains ahead of the holiday tomorrow. Pain in the labor market as new Employment Data underlines how tenuous the economy is nasdaq higher, growth out performed value. Energy under some pressure for a change after a huge surge in november and weve seen strong numbers from Corporate America mastercard said spending remains steady gap the counterpoint that stock is down 20 today alone. 59 minutes and oneday holiday coming up, of course, tomorrow the dow is down 0. 6 . Coming up on todays show, Website Security Company Cloud flair shares are up. Well speak to the ceo plus, riding with unicorns well talk to Founders Fund keith rabois Steve Liesman has a look at todays economic data. Mike santoli is tracking the market action. Deir deirdre bowsa has details. Steve, start us off with the economy. A busy day today. Yeah. The Federal Reserve earlier this month at its meeting d
Last ten minutes or so and finally, optimism around the possibility of new stimulus. All of that helping the market up about 1 on the s p 500 as we stand. Coming up on todays show, big moves in the banks space and Goldman Sachs is bringing workers back to the office well talk about that with the president and ceo john waldron and Michael Novogratz will lay out the risks he sees. Mike santoli is tracking the Market Action and a pair of key faang names holding their annual meetings as tech underperforms today and mike, start us off with the Broader Market and the action were seeing right now. Yeah, so weve been talking about this rotational activity away from the big growth winners into all other areas of the market that are more sickly call and smaller. It is really happening in a benign way so far. Sometimes the baton can get dropped in the handoff but it is towards its highs so kind of stalled out at this area, but below the surface, equal weighted is up close to 5 so it is kind of st
Project like this . Mr. Ballmer yeah, its an effort we started about four ago with me trying to actually understand our better. Nt by the governments own numbers. How big is the government. Come does the tax base from, what what do things get spent on and what are the outcomes . Said lets use the discipline that a company would shareholders. To the securities and Exchange Commission requires a factual 10k reportled a and we started out on the journey and weve really learned lot by sorting through numbers not only at the federal level local the state and level. And what about the need for realnumbers, real data, facts, in the middle of the kind of situation that the country is the coronavirus epidemic . Mr. Ballmer its more essential ever and well suffer with some of the other problems we see with government data. Timenment data has a hard staying current, staying recent. You look at historical numbers on the Affordable Care act and medicaid. Theyre two, three years out of date. Right n
Employee. And shares of under armour under a lot of pressure, a federal probe of the Accounting Practices. And wall streets record rally on the heels of both the s p and nasdaq the dow is on track for new highs at the open. Well start with that stunning news from mcdonalds, the company has fired Ceo Steve Easterbrook after he spent more than 4 1 2 years on the job. Mcdonalds says he violated Company Policy by having a consensual relationship with an employee the new ceo is Chris Kempczinski, president of mcdonalds usa in an email to employees, easterbrook admitted the relationship violated policy, saying this is a mistake, given the values of the company, i agree with the board it is time for me to move on. Already today, jim, one downgrade, piper to neutral, says changes of this magnitude tend to be disruptive. I think thats why i hate to say this, the stock was down badly on friday. I would like to know more about when and how long they have known this this is one where it is pretty
In inflation lets take a look at where we are right now. Communication services down the most, 5 , were going do get into consumer discretionary. Two sectors are hanging on to the green, albeit just barely with utilities what a report. When we got this gdp report, below consensus, well below certainly where we were last quarter. What does it make you think . Theres a difference between being concerned about the top line missing because we could actually see that be revised up over the course of the next couple of weeks. I think the challenge is the data showed that the inflation on a month over month basis for cpi is showing up in this report when you look at the consumer you saw a decline in good spending weve seen slowing in terms of good spend ing in particular autos you saw that decline in the quarter. The growth in Services Spending were from areas weve seen meaningful inflation, so that inflation in areas like insurance, in health care, those are not particularly predictive, of s