A hectic month. There is a lot of uncertainty with regard to the world in general. Jonathan jim b juncker joining us now. What a week in this market. The equity market breaking down by a little more than one and a half percent on the s p 500 but it is the absence of the bid in the bond market hitting the attention of you and i and everyone else. We are selling off, not driving yields lower. Yields are higher by four basis points. What is the signal you take away from that . Jim a worrisome signal. You are right, the fed is doing qe, buying 120 billion dollars of bonds a month, the stock market flirting with a 10 correction. That has all the hallmarks of a classic risk off rally, that bond yields should be falling as treasuries catch a bid as everyone rushes into safety. None of that is happening. The take away the market is still worried about uncertainty over next weeks election, uncertainty about the rising coronavirus, and potential or more fiscal stimulus and or inflation. All of t
From Home Software stocks. And tech continues to lead, apple, netflix up 4 it is walmart the top performer in the s p 500 were going to dig into that one. Record close watch 59 minutes left to trade. That meat and potato and delicious gravy joke from tyler. A bit of an inside conversation between the two of us today. Of so apologies for that lets have a look at what is coming up along with the meat, potatoes and gravy the ceo of labcorp joins us. Florida is severing ties with quest diagnosics and walmart upping the stakes with amazon announcing the launch of the prime competitor well discuss with the former head of walmart u. S. And a food giant bets into the biotech game well speak with the ceo of nest nestle bet with a peanut allergy treatment. Mike santoli is tracking the action on this first day of september. Josh lipton is focusing in on apple and what could be the next catalyst for that stock. And phil lebeau has details on teslas Share Offering we have another tack on rally. A l
4. 8 million numbers worldwide confirmed. 1. 5 million of those cases in the United States. 318,000 deaths and over 90,000 deaths in the United States. 28,000 people have recovered. Look at the righthand side of your screen. You can find this on the Johns Hopkins website. Before we get to your thoughts on the confidence level in the Trump Administrations response to the pandemic we want to begin with the president s comments yesterday that are making making news, what he had to say. Bout taking hydroxychloroquine President Trump [video clip] President Trump a lot of good things are coming out. Many oftline workers, them happen to be taking it. I happen to be taking it. Hydroxychloroquine, you are taking it . Pres. Trump hydroxychloroquine, right now. Ive heard its good. Ive heard a lot of good stories. If its not good, ill tell you right. Im not going to get hurt by. Its been around for 40 years for malaria, lupus. Frontline workers take it, a lot of doctors take it. I think people sho
Who have died and the illness, but on the economic side, we know at this point about 15 of americans are unemployed. Think that is an underestimate. [no audio] inlower Household Income extremely large numbers. You know it has had children particularly because the net the economic destruction is with their parents are at almost one in five of parents with a child under 12 have not had enough to eat because they have not been able to make the food last. That is worse even then in the great recession. We are seeing real tragedy in peoples lives. A Pew Research Poll found, they or someone in their household have lost a job or taken a pay cut. When you break it down by income, 53 of lower income people answered yes to that question. 53 . What does that mean . Means this is very present in the lives of people watching and their communities. The person who works in the grocery store, works in retail, caring for the elderly, we looked at those unemployment numbers send our estimate is about on
Last week, i warned you. Didnt think it wouldlast. More bad news about the pandemic and we would get slammed again thats what happened today dow plummeting 900 points, s p plunging 1. 4 . Nasdaq also nose diving, 1. 4 . Last night the president gave us pretty down beat, realistic forecast for covid19 fatalities if youve been following the experts and a potential death toll in the hundreds of thousands, might not have surprised you. But for a lot of investors it was a rude awakening i cant blame anyone for selling after that miserable First Quarter with very little good news on any front in the battle against covid. Lets be real. This market is an incredibly leaky ship if youve been laid off, having health problems, your family is hurting, supporting a loved one out of work, youre most likely going to have to sell stocks to get through this period. People need cash you cant fight that kind of selling. Thats what were seeing so why not simply dump everything, flee, maybe head for the hil