Were following all of that today. Well get to the markets in a moment we do begin with our top story the president and first lady testing positive for the coronavirus. Our shep smith joining us with the latest its news on the east coast here is the news the president and first lady are positive for covid19. The first lady reports she has mild symptoms but feels good the white house says the president has mild symptoms. President trump is in good spirit ossen ca spirtss on a call this morning. President trump is in both categories he continues to be not only in good spirits but very energetic. We have talked a number of times this morning i got the five or six things that he had tasked me to do, like i do every single morning he is wanting to make sure that we stay engaged. I think the other thing that is critically important, the doctors continue to monitor both his health and the health of first Lady Joe Biden sent his thoughts to the president and first lady for swift recovery now th
Screen completely different from yesterday and will call it a modest rebound but it was the big tech stocks that fueled the selloff in today though stocks also seen a modest rebound, certainly not recovering the losses theyve seen over the last three days but nevertheless they are back in the green. Take a look at tesla, that stock has lost around one third of its value in just one week. But look at it go today up nearly 7 and by the way well talk to the former Vice President of tesla coming up in this hour. Also tesla rival nikola solid spike after announcing the partnership with gm and come up will talk to the company ceo about the electric Vehicle Market in the fierce and growing competition. Meanwhile talking about competition in the race for the white house joe biden traveling to battleground states michigan to tout his new made in america plan, this ahead of the president s visit tomorrow and this morning by the way President Trump nominated for a Nobel Peace Prize by a member of
You cant when the nasdaq is running like this. A 7 gain in index, you almost have to realize everybodys price target has to come up. Its baffling and confusing people who are not in the stock market but making a lot of sense to professionals who realize oh, my, god to chase. Yeah. Banks will get jp morgan tomorrow theres a lot of discussion about the commentary will matter more but also the idea that because of where estimates are, you could see some upsize to prizes another upside out of bsf. Jp morgan, the whole group is insane Goldman Sachs goes from 190 to almost 210 its almost as if people said, find me something that is not crazed my issue will be loan losses and possibly dividends and i think a lot of the chatter i listened to wilf this morning but a lot of the chatter is if people are getting more stimulus and money is being pumped in, why should these Companies Pay their dividends . I personally think theres no problem but that wells fargo dividend news shook people up. Hey, c
Barrel. Jon it is interesting to see the mood move in crude. You see cautiousness in stocks, even energy, because of the new Economic Data in the u. S. Digesting it stays higher for longer. The story suggesting candace staying higher as well because we saw canadas central Bank Hold Rates Steady at 5 . This decision was expected but is only the third time in 13 meetings that the bank has hit the pause button. Partly because we saw the economy contract in the second quarter. The bank of canada was not expecting that would spoke of excess demand in the economy starting to ease. In some messaging, there is a hawkish tilt given the inflation fight is not over. I want to bring in clear from the rbc Economics Team to get some reaction. Great to have you with us. What did you make of the fact that on the one hand, they stay steady on the race but do send a hawkish message to the market. Does that surprise you . Claire not really. I start with the decision itself with the bank of canada decidin
And chinas Country Garden appearing to avoid default and making payments on its debt. In washington, d. C. , lawmakers are set to return to work with a very lengthy todo list. And President Biden weighing in on a potential strike by u. S. Auto workers. The positive prognosis he is giving. It is the day after labor day and everyone is back to work. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Im cdominic chu in for frank holland. Lets check on the futures following the long holiday weekend. We are off a bit. Dow jones industrial average implied lower 50 points. S p lower by 11. Nasdaq down 71. Checking in on the bond market right now, yields in focus here. Relatively steady around the 4. 2 for the 10year treasury note. Currently 4. 216 for the 2year treasury. In energy, oil prices are stubbornly high, but off a bit this morning. West texas intermediate is off 18 cents. Brent crude futures are d down. 23 . Nat gas prices off 5 right now a