Recession. The dow down lost 2,400 points in three weeks and 1. 2 away from wiping out all of last years gains most other indexes already have. Your team of fast money traders to want steve grasso brian kelly, Karen Finerman and guy adami. Im Brian Sullivan guy, i dont like to use this word but is part of this market, investors, panicking no. Again, panic is the wrong word we are within 7 or 8 of alltime high. If people sold stocks given where we were is that panic . The speed things are moving is scary. I dont suggest its panic i dont think youve seen panic. And frankly the job isnt to stoke the flames of the panics its not the job to assuage concerns its our job to tell you what we nifrpg is going on with the vix at this level given the fact that people are not traveling, not going to games, schools closing, thats a fact now we talked about it last night. Thats having a huge effect on the economy and the subsequent kwekt effect on the market ill say this again, i think steve agrees,
Manufacturing actually picked up, but only two manufacturers say that sales dropped because of the coronavirus. One retailer said that inventory was hurt because of production issues in china. You look to the San Francisco fed district where the virus is largely been rampant in this country in seattle. I should say the hardesthit area in this country. Theyre dealing with a drop in airline travel. A drop in demand for aircraft from Southeast Asia and difficulty getting parts for solar manufacturers. So not a lot of pain in that district either. Ii want to stress that overall Manufacturing Activity continued to expand across the country and Consumer Spending which has been the lynchpin of this economy actually picked up last month. Now lastly i just want to note that one other concern of companies aside from the coronavirus is actually the president ial election. Now the Federal Reserve will use the information in two weeks when they formally meet for a policy meeting and determine wheth
Right now the green is the controlling color. The dow approaching 2,000. The s p and nasdaq on track for record closes to end out what has been a very eventful week. Lets get to eamon now for more on what we expect as we await President Trump. Its been to put it mildly a busy day in washington the drama is swirling here in washington today the president will be talking in the roosevelt room in a couple of minutes about this initiative that you just mentioned which is keeping Held Health Care costs lower by allowing customers to see what the prices are. The administration is talk about forcing hospitals and Insurance Companies now to disclose what the prices are they negotiate among themselves those negotiations behind closed doors now and the administration has been making the case today this is a shadowy Pricing System and customers are entirely unaware of what things cost and they cant make real choices about what their health care ought to be and how much it ought to cost. Thats the
Early afternoon. As we go to the noon hour well see low 80s for many of our micro climates and a few spots reaching the mid80s before it starts to come back down for the evening as gusty winds pick up. That will keep it cool for the weekend. Well talk more about that. Mike, theres a crash in san rafael. Everybody is keeping it cool as well northbound. Now lets show you northbound i cant show you because there are no lights. You see the headlights. Thats the southbound commute. A crash was cleared around central san rafael. Everything on the Speed Sensors looks great. Theres a little blip coming into sunnyvale. Well check on that. Right there 580 through the altamont pass. Back to you. Thanks, mike. Another hot button day is on tap in our nations capital. A live look now at capitol hill where President Trump is still denying accusations of impeachment acts calling all the reporting a hoax. Today, in just hours, acting director of National Intelligence will testify. House Speaker Nancy P
White house whistleblower complaint over the president s phone call with the leader of ukraine, and questions grow about this new narrative. A white house coverup of that phone call. We take that on and debate it. Also on the show the 2020 democrat roadmap for the white house getting clearer by the way and its getting different. Democrats are dodging important questions about how their policies will slam americas pocketbook. Tonight wall street anxiety grow s over a president Elizabeth Warren, and democrats now blast the bold and wildly out there, new idea by Elizabeth Warren. A Big Government push to take over a giant economic sector that powers both growth and Consumer Confidence. That story tonight. A shouting match broke out between former i. C. E. Director tomorrow as homan, and representative, weve got more on how thomas homan refused to be shutdown and he fought back. Well ask a local sheriff who just met with the president all about that and weve got another Trump Victory on th