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Comfortably. Hawkish headlines on china and weak Economic Data both weighing on market sentiment. The dow is down 300 points yearly it was down 350 about 20 minutes ago. We have 59 minutes left in the session. Big show coming up four. A true 2020 winner, et ceteray stock is up 250 this year we will talk to the ceo Josh Silverman about the holiday crunch and whether his companys momentum can continue. And arthur blank, cofounder of home tee poe, owns the Atlanta Falcons and atlanta mls team as well lets focus first on the stories we are watching today. Mike santoli is tracking the Market Action into the close meg tirrell has a vaccine update and phil lebeau has an update on nikola, that stock down020 today. Mike santoli first to you and the markets. A mild shake of th ....
Barbara duran from bd8 capital markets. Thank you for joining us today weve got a lot of forces at play again another kind of side waist market, but some Risk Appetite if you look at whats moving higher today i agree with that i think that the action has been very constructive. And i think whats going on is youve seen the earnings expectations come down you had just a little sample last week, but majority of Companies Beat earnings and the most important thing, i think, was jpmorgan and American Express talking about the strength of the consumer in loans and spending and thats really the underpinning to the economy. And so we also know the fed, they have a meeting coming up. Im not expecting them to cut rates, but they have made it clear they stand ready and i think that forms an underpinning for the market. And not to ....
The fed gave us what we wanted, the market implodes. Dow plunging 334 points, s p plummeting and nasdaq 1. 19 down honestly, there was Nothing Shocking about fed chief jay powells statement but people dont understand how the game is played its insurance and not the start of the easing cycle. That upset everyone hoping there would be a lot of rate cuts galore including those betting the dollar would decline the fed is supposed to be cage gee about this remember the last time powell told us the longterm plans in october, the stock market crashed. Promising a series of rate hikes was a big mistake. Hes not going to make the same mistake here by promising a series of rate cuts. Hes not stupid. Of course, President Trump piled on how powell let us down. You can say that trump let us down by firing yellen who is much closer to trump and putting powell in, and enough powell bashi ....
Chipotle today its a new problem but its an old problem. The stock sinking on news a restaurant in virginia closed after a number of customers became severely ill after eating there. Well tell you where it is i guess i just did, and how chipotle is handling that issue coming up. Lets start with the financials weighing on the dow. Goldman sachs the biggest loser after its Earnings Report out this morning wilfred frost is here to break that down for us. Goldman sachs failed to navigate the market as they aspired following another good quarter in the markets and currencies business. Heres their show Martin Chavez. The primary driver for the declines sequentially are year on year. Was lower client activity with all the drivers that we that we discussed, lower volatility, less dispersion, less opportunity. Commodities is a story of challenges on all fronts, and there was lower cli ....