Everybody. Well see how the nasdaq settles. It is just about at that level right now. Look at big tech titans, microsoft, amazon, alphabet, facebook, apple, all those individual stocks down significantly today. Apple down nearly 7 . Apples market cap falling below the two trillion dollar milestone as well. On top of that, it is the worst day for oil in three months, sliding to the lowest level since june. Well cover all angles of this. Fox Business Team coverage, blake burman at the white house, gerri willis and Edward Lawrence standing by with their reporting. We begin market panel, carol roth and gary kaltbaum, kaltbaum Capital Management a fox news contributor. Let me start, gary, with the big rotation out of the big cap momentum stocks, particularly technology, the last three sessions i guess and it continued in a big way today. So where do you see all of this going . Well, look, the only thing more overdue than a correction in technology is if my knicks win the. [banba championshi
Allegations of corruption, and indictments and guilty pleas swirling around city Hall Contracting the city family is plugging along with another enormous bond for this november, much of it which will go to d. P. W. The ethics budget is not an expense. Its an investment that pays dividends and in cost savings and honest government. Thank you very much. If you are joining by the webex Browser Extension, if you wish to raise your hand for this Public Comment and other Public Comments, you may do so by clicking on the raise hand icon. Its located in the participants panel on the lowerright corner. To access that panel, you can click on the navigation bar located in the video screen by clicking on the participants icon. I do not see any additional callers concerning Public Comment. Im going to close Public Comment first, i want to say in response to the Public Comment, to the first specificker who had substantive points of information concerning City Contracting i do hope that the whistlebl
Decline in infection rates as people are told to stay at home. But the virus continues to ravage economies across the world. Bloomberg economics seeing australia is heading for its deepest rest recession in 90 years. Taylor a quick reminder of how u. S. Stocks ended the day. A pretty good day on wall street. Up date on the s p 500, the fourth out of five up days we have seen as futures come online. Some of those gains just lightly continue to be extending in the session. So, starting to hear some rumors perhaps of catching a bottom with the equity markets, as you have not seen major losses. One market that is seeing major losses that we flip up the board, it is all about the equity markets, within the crude markets, i should say. Crude falling on monday, down for a Third Straight day. Today, now monday evening, trying to recover some of those losses. Up to 8 10 of 1 but Still Holding onto a 20 handle, near the lows we have seen going back since 2002. I want to see how things are shapin
Check out the shares of five below. We will tell you how low below could go power lunch starts right now and check out where we stand on the s p and nasdaq both in record territory not there just yet still below the key 29,000 level that it hit on friday. Thank you very much, everybody. Earnings season b, thats going to be your top macro story the next couple of weeks it is kicking off in a big way with big banks set to report tomorrow and this could be in some ways a make it or break it for stocks as a whole because earnings are expected to drop on average 0. 7 if they do, that will be the second straight quarterly decline. Back to bob at the nyc its not so much theyre down 0. 7 for the Fourth Quarter thats a concern for the markets because thats largely priced into the market and if we go where we normally go, that wil come up. Well end up to about 2. 5 overall. Its these numbers First Quarter and second quarter. They were much higher a few months ago while its typical for numbers to
Regarding the bureau of revenue, looking to move our cases toward execution. I will say that in december, i attended a meeting of the creditors for Lynette Sweet, who owes the city 74,000 as the result of an order that this body imposed on her for misused finance funds. It looks like we have a chance of recovering as a result of that proceeding, but we learned that a lot of other debtors are owed money including the i. R. S. , which has priority. So were not higher priority than the i. R. S. , unfortunately. So well monitor that and appear at hearings for the city. Payit plans are up to date. And on pages 5 and 6, you can see our customary charts that list the caseload statistics in graphic form. I will take any questions. Commissioners . Commissioner chiu . Yes. In your write up, the new York City Campaign finance board, the director talked about using data to investigate and uncover wrongdoing. Is that something that we could do here . I think so, yes. We track and require disclosure