The scene. We had the huge selloff down 35 from the highs then the giant bounce back this week, up 19. 9 going into today. A real pasting most of it at the end of the dow with the dow slipping 915 pounds, s p climbing 3. 3 . Nasdaq falling 3. 79 just like yesterday, which had the big whoosh up, this had the whoosh down. We need to figure out whats next either a continuation of the selloff evolving into a retest, where the market goes back into earlier lows or take them out or resting period, setting us up for the next move higher not much in between here what makes the situation so dicey . Next friday we get the labor departments nonfarm payroll report based on this weeks hideous jobless claims number, we could expect a real doosey this market is a tug of war between the bears bracing for a possible depression if we cant stop covid and the bulls betting on a boom if we do beat it because of the liquidity being injected into the system by the Federal Reserve and by the 2 trillion build
Trade, the president declining to provide more details on the negotiations with china this morning, saying, quote, well see what happens Broader Markets at the moment down about 0. 6 on the s p the dow is down 192 points the low of the session for the dow 250. So we are off the loan he lows t recovering a little bit in that final hour of trade. Joining us for the full first hour of the show is bespokes paul hickey. How you doing . Good. Do you think it makes sense well start on a soft footing given the great run we saw in november we saw a big strong run to close out the month of november here and dont put too much weight into the first trading day of the month. I dont know if you recall, but last december, we were up 1 on the first trading day of december and i think we all remember what happened the rest of that month. If we can get the opposite of what happened last december, ill take it fair enough lots to discuss with paul throughout the full first hour of the show. Lets focus in
Begin tonight. Retailer started the day at a new high after the Company Reported better tha expected earnings and said the future looks bright. But thats not where the stock ended t day. Shares drifted lower after the open this morning and down fractional by the close. But the lowcost retailer sales are on a fiveyear win streak. A good sign when it comes to the health of the consumer and the econom and the drivers of walmarts business. Here is courtney reagan. Walmart continues to grow sales in the u. S. Thanks largery to the grocery business. S. Omparable sales grew the 21st straight quarter with strong traffic intores and growth online. Digital sales increased 40 . Chief Financial Officer brettgs told me being capturings were strong, the food business and pannedingelivery and pickup optionss driving shoppers to spend. Pickup, all are building grocery Customer Loyalty that continues to drive the positive growth that we see at walmart. Ecommerce was only about 5 of walmar u. S. s total
The dow eyeing eight Straight Days of gains on growing optimism around u. S. china trade. Weworks rocky road to an initial Public Offering. And the democratic faceoff, warren, biden, sanders dominating the debate stage. Just what their plans could mean for your portfolio stocks are chasing history this morning the dow and the s p each within 1 of hitting record intraday highs. The blue chips in the midst of a sevenday win streak for First Time Since may of last year. You have signs of a health y consumer, Government Data shows retail sales up. 4 in august, double expectations. Core unchanged, looking for. 1 but july even after that upside surprise revised higher. Is this ever putting the pressure on jay . I think jay powell is uniquely faced with a difficult decision. You posted some stuff the other day about you raised rates and the economy is not being hurt so why should we just want to cut them i continue to say he raised rates too much and i want i want to go for the full on 3 on e
Ullah, originally from bangladesh were learning more about him during the day. Were not sure about the motive or if he meant to do exactly what he did. We have picture taken moments after the what the authorities describe a lowlevel explosive device detonated during tunnel beneath new york city where commuters walk from line from the very Business Port authority terminal from 8th avenue under times square to 7th avenue. So many people near him when device was detonated, he was injured. Burned on his hand and midsection of his body, what we understand. Three people near him were also injured but the injuries were only minor. The mayor of new york had this to say about this latest attack or attempted attack on this city. Watch. New york will always going to be because were beacons of the world and we actually show society of many faiths and background look. We show democracy at work. And our enemies want to undermined that. Terrorists want to undermined that. So they yearn to attack new