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Hey, i am cramer, welcome to mad money, i am trying to make friends, i am trying to save you money. Call me, 1800763cramer that was unsustainable today we learn nearly everyone loses when the president acts and slamming the market. A crushing disappointment. And anyone who lost a job may be on the verge of losing a job you have to wonder what will happen to the 14 million odd people and the family working in the Hospitality Industry lets just say inhospitable. I care about the small and immediate size businesses and workers that are going to be laid off Speaker Pelosi and mnuchin is making a lot of progress and getting a lot of phone calls, getting close to a deal. Speaker pelosi echoes after the president stops negotiations but it was too late. Trump tweeted, he was adamant and hell put a better bill after the election all right, whats really going on here . Thats the ....
1800743cnbc. Or tweet me. Maybe it is take your parents to workday. The dow is down 98 s p is declining at 2 . Another strong day if you are over the age of 40, the only way to catch the bigge biggest winner is to stay in touch with your children i am always crediting my four blended family kids ideas that i would never picked up at all without them thats right children make you a better investor look at snap the parent of snap chat rocking 30 higher after reporting a stunning revenue of a much better expected earnings gilead up 90 . This is all the people talk about today. That user growth is everything we had brilliant advertisements. Hes claiming a small window of time that we can create havoc that lasts a lifetime. Once you passed 25, you are much likely to switch to a new shampoo or tooth paste so how do advertisements reached the younger demo now we have a whole generations who cant stand commercials especially snap chat advertisers want those eye balls before those how do i know ....
Its been a wide range today. Former citigroup ceo sandy weill will join us to discuss the water shed moment at his former company which just became the first major u. S. Bank to appoint a female ceo plus, well speak with jason robins from draftkings ahead of tonights nfl kickoff. And we are counting you down to some exciting earnings after the bell today including peloton, oracle, and chewy. Two out of three are big stay at home winners plus an interview with chewys ceo as soon as the numbers hit the tape lets get straight to the market in the final hour of trade another volatile session on wall street mike santoli tracking the action for us what caused the weakness here in the last few momentors so . That morning rally was really limp it did not pass any of the tests. It stopped where yesterdays highs were nobody had any faith this was really going to be upside momentum then you had a rally in the treasury market. Yields got compressed a little bit. And the dollar is also been higher ....
From todays apple event we start with a major selloff in the financials the biggest driver in the market with the xlf falling more than 1. 3 citi dropping 7 today under pressure that regulators could crack down on the banks Risk Management systems the stock is now down more than 12 in the past two sessions guy . Dan nathan has been talking about this for a while one of the things weve said is todays banks are much different than ten years ago theyve become utilities you have to look at them differently and you have to factor in valuations much differently. Ill say this quickly about citi right now at 45 the stock is now trading 63 of tangible book, assuming that tangible book is accurate thats levels we last saw probably in the financial crisis these are trough valuations in terms of the price of tangible book i think Warren Buffett told you everything you need to know about ....
Development on a tiktok takeover Julia Boorstin has the latest. Sources confirming to me that bytedance is continuing to explore options with the committee on Foreign Investment in the u. S. About a restructuring of the company that would avoid a full sale of those u. S. Operations. Now, my sources tell me that long before President Trump set a deadline for tiktok to agree to sale of its u. S. Operations or have the threat of being shut down, bytedance was negotiating about various options. One option being discussed is a restrucking in which bytedance would maintain ownership stake but wouldnt have any control over u. S. Operations one u. S. Company could take a Minority Stake and be an operating partner, say, have microsoft or oracle be tiktoks cloud operator ....