Employees. Weve got those details. But first we start with some breaking news. The electoral vote count stands right now at 227 for mr. Biden and 213 for mr. Trump. And we still have eight uncalled races. In wisconsin, which is still too close to call, biden holds a narrow lead of just 20,000 votes. Well within the margin of error there. Well within the drift that lets the president call for a recount. The Campaign Says they will immediately do so, request a recount. Another place biden holds a narrow lead, thats michigan thats where we find Brian Sullivan in grand rapids any update on this very close race reporter yes, and no how do you like that im like an economist on the air. Im going to give it to you both ways heres where we stand right now. Heres the reason i answered that way number one, heres the count 94 of michigan has come in. Its that last 6 that is the issue. Now, youve got joe biden who is up by about 45,000 votes right now. To your point, there are far more outstanding
Worst. Yep. Talking about the coronavirus. Which the needs now tells us cannot be contained. And thats really why the dow plunged another 879 points today. S p 3. 3 , and the nasdaq 2. 7 on top of yesterdays hideous losses the dow has now lost 1,911 points in a row. Thats a decline of 6. two days now, you dont need me to tell you that this is serious stuff, especially if the director of the National Center for immunization and respiratory diseases told us this afternoon to now expectist significant disruption in our lives. Instantly that became conventional wisdom, thats the reason we told off so hard of course it is more complicated than that, right the stock market is following the much larger fixed income market where buying yields are currently hitting record lows. All sorts of maturities. The ten year is at 135 . The stocks got crushed the market is screaming that this pandemic will cause dramatic decline in Economic Activity both here and around the world. When the bond market sp
Today. Our road map begins with Global Growth concerns. China posting the weakest gdp in 27 years aed my fallout from the trade war. Well wrap up the first week of earnings season, two names in focus, coke and American Express, both rallyi ining aheaf the bell. Rick perry set to leave trumps cabinet. He will join us live this hour going to start with that slowdown, china saying the economy grew 6 in q3 from a year ago, believed to be chinas slowest gain in nearly three decades. Markets here largely shrugging it off Industrial Production was up from the prior five to 58. Retail sales up from 75 back to 78 so kind of mixed. This one we can say, look, there is something for everybody. Fed can still cut. But im doing a lot of work on American Express this morning. Consumer is still strong consumer strong, business, corporate spend, as barry said, still a lot of negativity among ceos, extends to the election, negativity extends to china, european woes. Go back to the ibm call, we didnt talk
The New York Stock Exchange and phil flynn keeping his eye on the gold at cme and blake burman at the white house. Edward lets start with you. The jobs report last time we saw 3. 5 unemployment an american walked on the moon. 1969 was the year. President donald trump over the moon about this jobs report. White house Economic Advisor larry kudlow though says he is blaming the fed for the sluggish wage growth number in these numbers. Listen. One were still suffering the aftermath of severe monetary restraint in 2018. That restraint is being removed and in fact were about six to nine months that is the usual lag, so i think, the worst of that fed obstacle may be coming to an end. Reporter now one of the numbers in the report that has been overlooked really is the revisions. They have, jobs report for the last two month was revised up 45,000 jobs. That means last month the economy created 168,000 jobs, up from 130,000 jobs that makes last month a little bit slower jobs report look a lot be
The president has arrived in japan for the g20 summit, just as he stepped off air force one the news broke that china has established its negotiating position in the trade talks. Remove restrictions on huawei, remove all tariffs. Thats a hard line. Trump meets xi on saturday. Im going to call it a flat to slightly higher market. Any loss for the dow is accounted for by boeing, which is down sharply because of new problems with the max jet and look at that nasdaq go, up half a percentage point. Big tech doing well this morning. Theres a story on bitcoin. It hit 14,000 overnight but the Coin Base Exchange crashed. When that happened, bitcoin fell sharply, currently is down to 11,700. Just look at how amazon has changed the world. Their prime days dominate the summer selling season. Now we are seeing target, ebay, walmart and others join the club, jumping on amazons band wagon with a ton of special deals of their own. Thursday, june 27th. Varney company is about to begin. Who here would a