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Postpandemic academy dominated by americas big tech companies. This friday morning, stocks are going up somewhere, can you believe that, we dont know how were going to close the session but the opening bell the dow will be up another triple digit, over 100 points, s p coming up a series of records of another nine this morning and the nasdaq made 39 records and moving higher again as of right now. That is the market, that is financial history, cue the fireworks, spectacular way to close out the republican convention, they lit up the sky over the white house after President Trump accepted the nomination for second term. It was a long speech, 70 minutes, the president made his pitch, vote for me and ill keep the streets safe and restore prosperity. Joe biden would ruin the country. You will hear it all, and then there is this, senator rand paul and his wife leaving the white house after the speech into an angry mob of demonstrators. ....
A far better measure is the ten Million People who filed for jobless benefits in the last two weeks. Fed governor lockhart just told maria the jobless rate is already more like 10 . Clearly, we are in an employment crisis, and another report that comes up at 10 00 eastern will likely show the Services Sector in collapse. Thats a strong word to use but its accurate. Later this hour, we are going to talk to larry kudlow, the president s chief economic adviser. I will ask him how bad is it and he will spell it out. Look, with nearly 300 million americans under a stayathome order, the economy is shut down. Morgan stanley says that between now and june, the economy will shrink by 38 . That would be a depression, the likes of which we have not seen before. Travel, shut down. At the airport tsa checkpoints, they are processing two million fewer passengers every day. Thats down 93 f ....
There are lingering concerns about alibabas ability to up international revenue. Chairman jack ma Just Announced a hiring freeze. There are concerns about their relationship with the Chinese Government, which said they are saying alibaba is not doing enough to crack down fraud on the site. I spoke with the new ceo, daniel zhang, a former accountant, who went from cfo to coo and now ceo. I asked him what he plans to do differently and when alibabas Management Team will stabilize. Daniel we changed the leadership in our fields. We believe that today is the right time for us to bring the young generation to the leadership. As you know, alibaba this is a long journey. We need the young generation to participate in the leadership and lead the company to the next part of journey. Emily how will you bring more talent into ....
About alibabas ability to up international revenue. Chairman jack ma Just Announced a hiring freeze. There are concerns about their relationship with the Chinese Government, which said they are saying alibaba is not doing enough to crack down fraud on the site. I spoke with the new Ceo Daniel Zhang, a former accountant, who went from cfo to coo and now ceo. I asked him what he plans to do differently and when alibabas Management Team will stabilize. Daniel we changed the leadership in our fields. We believe that today is the right time for us to bring the young generation to the leadership. As you know, alibaba this is a long journey. We need the young generation to participate in the leadership and lead the company to the next part of journey. Emily how will ....