The big rally yesterday. We had the dow dipping 131 points, s and b backsliding 4. 8 , nasdaq edging down 2. 9 this is a good moment to consider where well be in six months because its controlling a lot of action we see in the stock market so the question is will we go back to the old normal once the pandemic is over or will some aspects of the new normal remain some could be permanent. Real engrained habits. Right now wall street is trying to guess which is which. Remember, the market is a forecasting machine with expectations about the future much more than facts about the present. Thats why i say we dont care where stocks have been, we care where they are going so whats the market saying about the post pandemic economy lets start with the obvious one many missed. Peloton. Im getting right to it. Its incredible how many smart people bet against this maker of smart exercise machines. When covid hit Money Managers figured gyms and spin classes were kaput many tried to crash peloton hol
108 points hire. So good news all around. Lets see if it can stay this way. Treasury yields, you can look at a 10year note at. 681 we have so much going on the fed kicking off a twoday meeting. The first since it put new framework into place isnt expected to change Interest Rates fed chair powell planning to answer questions about the outlook during tomorrows News Conference then we have the data coming in today where we get august import and export prices. The latest productions numbers and the earnings, we have fedex and adobe. A lot of other news, joe i can hear the bounce in your step i hear it in your voice. I think it might be the guests we have again today. I know you are excited for the hour we had great guests yesterday and great guests today we have bob from viea come cbs Jared Kushner coming up in the 7 00 hour. Kevin mccarthy then i realize we miss becky whenever shes out but you like to talk and i guess i do too so it is 50 50, instead of 33, 33, 33 you dont have to admit
The great debate, the fractured republic and a time to build. This is two hours. Host author yuval levin, what is your assessment of the United States . Guest thanks for having me here. That is a wonderfully broad question to open within a challenging one. They are living in a moment of crisis. It is hard to deny. We have been through a spring dominated by a Public Health crisis. We are facing now also a social crisis and the struggle for racial the quality and very much of this moment that forces us to confront challenges that weve had trouble with in recent yea years. In th a time of crisis, you kno, its because it is the time of testing its also the time to think about what americas strengths are, what they are good at as a country and how we can build on that address the enormous problems in front of us. Host how did we get here . This is that an era marked by crises from 9 11 to the financial crisis to a pandemic that forces us to look to the sources of restraint what the politics
Investors seem to be more optimistic as Congress Continues to work on another federal relief bill. The president at the bottom of the hour scheduled to deliver another news briefing. This as tensions between the u. S. And china continue to escalate. The u. S. Has ordered that the chinese consulate in houston, texas to close china to close. China is calling for the u. S. To revoke the decision and is warning that the u. S. Has more diplomatic personnel in china than vice versa. Joining us to break down the market avenue big the Market Action are Abigail Doolittle who has following who has been following the action. Abigail tesla delivered. Considering you have the stock of more than 280 on the year going into that report. Before we look at that stock specifically, it has been another interesting, slightly choppy day. More sleepy at the end of the day. We saw this late day surge climbing. Not huge gains. We had stocks of flat. Nasdaq down at the end of the day. This s p 500 higher. This
Record highs that has the nasdaq setting a record as well better than expected home sales in the u. S strong activity numbers out of europe as well uk, australia to name but a few. Were up, sarah, nearly 1 on the s p 500. Ahead on todays show, a big first on cnbc interview with howard marks fresh off his latest memo. He said the odds are not in investors favor and whether he sees any opportunities right now in the market plushgs connecticut has certainly seen an encouraging dropoff in coronavirus numbers of late. Well ask governor lamont about his advice for states like florida, arizona and texas that are seeing their cases swell and how hes trying to keep those cases out of his state lets focus in on the big stories were watching mike santoli tracking todays rally. Meg terrell has the highlights from Anthony Faucis congressional testimony and phil lebeau is covering another volatile session with the Airlines Start us off with the Broader Market on the three month anniversary of the ma