Had their worst days since 2022, restoring some confidence, better than expected economic data here in the united states. We will get that in some detail in a moment. Lets go to Nashville Tennessee and speal to david waddell, president and chief Investment Strategist at waddell associates. Welcome back to the show. Yesterday was the worst day in a year and a half or us markets. Now we have had time to sleep on it, what happened . Well, it wasnt quite as bad as it appeared. The Magnificent Seven was down 6 of a cohort. They make up 3 of the index. The other a93 were only down 1 . This sell off was yesterday. It started when the lighter than InfLation Report came out on the 10th ofjuly. From that point, it was down 16 . The Magnificent Seven were down 10 . However, small cap stocks in the usa were up 10 in that period. You are seeing a Rotation Acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the
Lets just show you how things have been trading on wall street. Khan to those numbers after a difficult day for investors. Calm returning that those members. David waddell is an Investment Strategist based in nashville tennessee. He told us in his view the big Tech Sell Off was long overdue and actually in some ways healthy. Well, it wasnt quite as bad as it appeared. The Magnificent Seven was down 6 of a cohort. They make up 3 of the index. The other a93 were only down 1 . This sell off was yesterday. It started when the lighter than Inflation Report came out on the 10th ofjuly. From that point, it was down 16 . The magnificents were down 10 . However, small cap stocks in the usa were up 10 in that period. You are seeing a Rotation Acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the year for retail, and the highest since 2021 for professional investors. We had a lot of complacency. The vics h
Welcome back to msnbcs continuing coverage of President Bidens historic decision to end his re Election Campaign just 107 days before the november election. Im jonathan in washington, d. C. Just hours ago, President Biden announcing he will be stepping down as the democratic nominee, and endorsed Vice President Kamala Harris. And a statement posted to x, biden announced, while it has been my intention to seek re election, i believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term. And a second post, biden also made clear his choice to replace them is Vice President , harris, writing on x, today, i want to offer my full Support And Endorsement for kamala to be the nominee of our party this year. And in her own statement, she vowed to earn and win this nomination. Harris will be speaking at an event at the White House tomorrow morning. Bidens campaign has already re filed with
Biden approved a major Disaster Declaration for louisiana. I came to shore as a category four storm with maximum stints over 150 miles per hour. It has been weakening as its moved inland but slowly. And it is now down to a category two but the natural Hurricane Center says that it is still bringing catastrophic Storm Surge, Extreme Winds and Flash Flooding, to southeastern louisiana. And that has brought scenes like this In The City of houma. The extraordinary power of those high winds, meanwhile the entire City Of New Orleans is In The Dark, without power tonight. Except for those with generators. The Power Company says ida caused quote, catastrophic transmission damage. Across louisiana more than 930,000 people have lost power. We have also had our first confirmed death caused by this Hurricane A 60 year old man was killed when a tree fell on his home, just south of Baton Rouge. Of course this catastrophic storm is taking place during the pandemic in a state that has one of the highe
Since 1911 preservation virginia has shared the chief Justices Life and legacy. We are grateful to many descendents who have over the years returned Books Furnishing Tableware and personal items. These objects bring the room alive and it doesnt take much to imagine the activities of the family the household and the many guests who visited. There are no artifacts that better define Marshalls Career than the robe he wore for his tenure as chief justice of the United States supreme court. The room is cared for by generations of descendents before finding its way into our collection. The robe is a Witness Object and if robes could talk what a story this one could today this simple black robe recognizes an icon as the american judicial system. This iconic imagery has been carried on by everyone since chief justice John Roberts. The construction and ni tailoring as marshall wrote the circuit from the days of hearing arguments before the court, places like madison made marshall the most signi