Hearing from you, loyal viewer and the latest poll on twitter. We are going to hear from you on this wednesday, september 23 this is Worldwide Exchange here on cnbc got a little music to get you going. Good morning welcome to wherever you may be watching here is how your money are setting up their day nicely in the green. At least for the dow futures futures up 186 up a little less all of this coming off the dow snapping a threeday losing streak the dow and s p snapping fourday losing streaks. The big cap names you know amazon close up nearly 6 . Our Parent Company comcast, 3 , facebook 3 . Nasdaq 100 up 5 from the mondays low to yesterdays close. So traders making a little money. A day or a swing trader is a 5 move in trading sessions outside of tech, the sector star, Consumer Discretionary up 2. 7 . The only real decliner of note was tesla. Also down 4 after falling 5 from a battery day bust failing to invest on lower expectations despite radicily better batteries after an extended h
Richard we think the additional fiscal support will likely be needed. I think, it is very clear that the cares act, which passed in march was a historic government response to a historic crisis. A thrill that a 3 billion dollar package provided significant support to the economy. The economy has made a lot of progress, about 11 million jobs have returned, but there is a deep hole. Steve, theng us is portfolio manager. I wonder if you can piece those two things those two things together. It seems like there is still a rotation. Fed official after fed official are calling for more fiscal stimulus that we will not get. Steve i think we are going to get it, but not before the election, because i think it is a political football, and now you have the Supreme Court battle that will show us that will suck all of the air out of the room. After the election, or in the new congress if one side or the other scores a victory. You will get additional fiscal support. I think it makes sense, the econ
9 after reporting yesterday afternoon. Lets take a dive deeper into snaps quarter stifels john eggbert and Lloyd Wamsley of Deutsche Bank joins us now gentlemen, you both have buys on this stock, and there was interesting commentary from snap about how theyre expecting lower user growth in the Third Quarter, and theyre also anticipating there will be significant revenue headwinds, even though the first 19 days of the quarter they showed 32 Revenue Growth so jon, tell me, why are you so bullish . Well, im bullish because of the longterm story. And i think that the underlying trends are still intact. On the short term, it sounds like the Third Quarter will have some complications were not exactly sure how much sports well have. Back to school may be limited in parts of the country feature films wont be launching like they normally do, and those are big areas of brand advertising spend that snap and other Digital Media players benefit from in the short term but in the long term, the direc
We do know some options that they have. Well explore that a little bit later. Meantime, i was telling you about a lot of depressing economic news. Latest home sales are expected to fall at least 15 this year. That adds to a string of stunningly weak numbers. I say stunningly weak. Wall street was bracing for some bad numbers but to connell mcshane, i dont think they were bracing for this bad. To you, my friend. Connell i think that is the point, neil. In many ways to your point what we learned on both the economic front and when it comes to earnings is soar of confirmation what we already knew. That this economy, thanks to the coronavirus inspired shutdowns is in very rough shape. But when you look at things like retail sales and drop we saw there, this, is even worse than we thought. I mean the largest drop that weve ever seen in retail sales on a monthly basis. So thats march. Economists know april is likely as bad or worse. This comes from the commerce department, only been tracking
I was a hostage. He is very keen to clear his name. Party on, elon. Tesla celebrates a milestone of its push into china. Huawei braces for another challenging year under u. S. Sanctions. We hope restrictions do not get worse, but if they do we have a plan b. Sebastian Alan Greenspan says the only way to curb deficits is to pull back benefits. We are trying to spend more than we have. Sebastian thats all straight ahead on bloomberg best. Sebastian hello and welcome. Im Sebastian Salek and this is bloomberg best, your weekly review of the most important Business News analysis and interviews. Lets start with a day by day look at the top headlines. The week began with markets reeling from a geopolitical shock, an attack that killed one of irans top military officials. The fallout of a top Iranian Military commander is widening. Lawmakers in iraq have voted to expel american troops. Iran says it will no longer abide by the Nuclear Deal Reached with major powers in 2015. President trump thre