It is the 32nd time this year the nasdaq has set a record close again. This morning, we are looking at a negative picture this morning, you are looking at red ar owes. S p indicated down by about 16 points everybody is waiting to see. At least right now, 10year looks like it is narrowing to 2. 5 jobs friday today. Forecasters will expect payroll to climb 1. 48 million after june gains shattered expectations a huge number this time around unemployment is expected to drop 10. 6 from 11. 1 from june well take you through 8 30 a. M. When those numbers actually hit. News breaking this morning for those of us in new york city who woke up and thought what just happened. Con edison investigating widespread outages. As an upper westsider, no power there. You lost power . A true black out. We are in 2020, what could go wrong . I looked around and thought, it is so dark what is going on is the nasdaq going to have power. What am i going to do . Here we are middown. You left connecticut to come to
Take something off the table makes sense which is how you got to todays selloff with the dow dumb bli t tumbling and nasdaq tumbling the bear camp cant exist at the sametime there cannot be coexistence with the huge covid outbreak in the sun belt spiraling out of control, bear is in charge so why dont we do this . Let suspend judgment and not use terms about good or bad and take the approach of the fact spin. Awaken america trade has taken a turn for the worse some people expected that. I didnt its a disturbing spike in covid cases across alabama, north carolina, South Carolina and texas. The infection level so high the governors of new jersey, new york and connecticut have taken an unusual action and slapped a 14day quarantine on travelers from these hot spots thats amazing they have more than 35,000 new cases today which is about where these numbers peaked in april. Not good its plain bad news for everything that depends on the economy reopening which is a lot of things. The america
Garrett this Police Tactic in the spotlight, well beyond minneapolis. And later. No justice, no peace. Garrett voices from the protests front lines. George floyd was lynched in broad daylight by a public official during a plague. This is the cbs weekend news. Garrett good evening, im Major Garrett reporting in washington. Demonstrations sparked by the death of george floyd while in Minneapolis Police custody 13 days ago have coalesced into what appears to be a nationwide movement. Again today, people returned to the streets, calling for Police Reforms and racial justice. The crowds diverse, and overwhelmingly peaceful. Jaime yuccas in minneapolis tonight, where it all began. Reporter tomorrow marks two weeks since george floyd died at the hands of four Minneapolis Police officers. His death has sparked movements in at least 150 American Cities with people fighting against Police Brutality and racism. Crowds returned to american streets again today, following yesterdays mass demonstrati
Above 39, jim. But this morning, well watch maybe a tale of two cities if new york can do this as they reopen offices and hair salons i think new york is taking a big risk because new york has beening ino ing inumber one when you have the least covid, i guess maybe you can say its time to open but also to be the least covid for a little bit i know you need to do it because too many businesses that are going to go under. Just be too long and the cash flow is too low. I worry about a bit of a spike because it is great to be a state that you feel safe in and, yes, i want my, i dont have to worry about my hair being cut but yes i want these businesses open and get cash flow its been just a delight to having lost vigilance but little less nervous on fathers day pretty good. Interesting kudlow saying a moment ago he does notanticipate another nationwide lockdown but one thing that friday did demonstrate that apple and cruise lines will curtail their own operations if they sense any need for
1. 1 but underneath, it was insane after a big dip at the opening, the market came roaring back into the black. This was a day when both the recession stocks and the recovery stocks worked long term thats just knot sustainable. Sooner or later, someone, one of these two groups has to be wrong but short term as were taught, anything goes. Let me break this one down for you. This market has two big themes, completely contradictory and a third team thats down right apocalypse first, the american awakens train. The people who buy into this thesis, well, they believe the government made a terrible mistake locking down the economy. Im part of that group we wont make that mistake again. Now that the country is reopening, they expect people to go out and spend and return to work as they see it for all intensive purposes, the pandemic is behind us the worst is over. We have a better understanding how to treat covid and in the fall it wont be on the radar screen despite records in florida and te