Here all three of them in the red today. As you just saw the dow finishing down 130. The s p down 28, the nasdaq down 140. We were concerned it was going to slip further into correction territory. Did not do that but not by a lot, my friends. What was going on there . Big tech, momentum stocks having the most trouble here today as we start to think about the recovery, is it real, whats going on with the concerns that the improvement in the economy may not be what we need . The momentum stocks, apple, amazon, youre seeing them here on your screen, microsoft, google, facebook, all down more than 2 . There are big concerns about valuation. Are the stocks too rich. They led the downturn today. They are extending declines from yesterday. I should mention here tesla snapping a five day winning streak. That is not nothing. What was at the roots of concerns . Concerns about the recovery. Weekly jobless claims coming in. 860,000 workers filing unemployment claims. That is below one million for
Authorized to declare a recess at any time. I want to thank everyone, especially our witnesses, for joining us today for our committees hearing. I want to make sure to note some important requirements. By saying standing house and Committee Rules and practice will commit continue to apply through hybrid proceedings. Regulations require members to be visible through a video connection throughout the proceedings. Please keep your cameras on. Member to remain muted until you are recognized to minimize background noise. In accordance with the rules established under hr 965, stafford been advised to meet participants only in the event there is inadvertent background noise. For those members here in the room, i urge members and staff to wear masks while in the hearing room. I thank you in advance for your commitment to a safe environment for all here today. Mnuchin, administrator carranza, thank you for being here today. I want to give a sincere thank you of both agencies who have worked tir
Good morning, everybody welcome to squawk box on cnbc. Im becky quick here with joe kernen and Andrew Ross Sorkin. A gain of just over 1 the dow now at 25,000. Now the dow is indicated up 162 points the nasdaq closed at its highest day. Now about 2 from its alltime high thats the run youve seen since the lows back in march treasury yields. Theyve ticked a little higher the 10year looks like it is yielding 0. 75 crude oil prices yesterday, crude was up about 4 percent on this expectation that opec plus especially russia will extend those cuts put in place that was good for 4 as seen yesterday. Crude up by 1 to 37. 16 all of this against a tricky back drop. It is powering higher well talk to a lot of folks that will help us through this the need for Solutions Former white house and ceo of j j and they have big news on all of this. Getting an update of what has gone on. Reporting a day of mostly calm in washington, Late Afternoon in st. Paul, staging the protesters protesters ran past the
Heat from both sides, including the one he is trying to court break out the wine and chocolate ice cream, they may benefit your health after all. It is wednesday, june 5th. Fbn a. M. Starts right now. Cheryl here is how your money is moving at 5 00 a. M. Hopes of a fed rate cut, maybe two, jolting the market yesterday. The buying continues today. The dow up more taken 500 points yesterday. Right now, the dow up 71. The s p and the nasdaq are substantially higher in the premarket. We are keeping a close eye as always on the 10 year right now. Its been a flight to safety of bonds over the last few sessions, really globally. The yield is at 2. 13 , thats a lot of 7 basis points. Were keeping a close eye on europe as theresa may winds her final week down as the leader of her party while the country looks for the next Prime Minister and a possible trade deal with the United States. All european markets are higher. Were watching for new news on progress between china and the United States wh
Youngsters, arabamericans and progressives just delivered a blow to the the president s reelection campaign. The uncommitted vote in the michigan democrat primary was 13 , well over 100,000, far higher than expected. That means a large Group Rejects the democrats leading candidate. And with biden in trouble with the youth vote, Kamala Harris announces a plan to pay students to register people to vote is. Vote buying by any other name, surely. On the republican side, donald trump won hands down, 6826. Haley lost her fifth straight but says shes staying n. Trump called in to the michigan victory celebration. He said on november the 5th, election day, and january 20th, inauguration, we take over, end quote with. To the markets and the big story is, again, bitcoin. Crossing the 61,000 level. The quote right now is 60,459. This is whats called the halving which restricts the supply of bitcoin coming to the market. Restrict supply, up goes the price. Stocks, mostly lower this morning. No hug