Thank you. Wall street is waiting on the deal on more stimulus from Washington Well have more on that in a second first as we head into the last month of trading before the election, october bring a number of hurdles could there be an october surprise for the markets bob has more on what to expect bob. There usually is. The good news is we have a positive start for the quarter the big story remains stimulus and the chances for getting the stimulus through the other story well hear a lot is earnings. They are better than expected. The early quarter is much better than expected. We had one of the Big Semiconductor companies came out with positive guidance thats moving all of the Semiconductor Stocks thats a big important sector. Elsewhere Different Companies out there but they have beaten the earnings constellation pepsi reinstated their guidance. That stock has been moving bed, bath and beyond they had 50 cent na they are expecting a loss. The positive trends continue into september tha
Sell off until they realize they cant keep paying for things like snow flake because when they have to sell Something Else i think is why we have another bad day. Dow dropped 245, s p fell and nasdaq lost 1. 70 . It bounced from the lowest percent. Once again, were reminded the stock market is first and foremost a market. And markets are government earned by supply and demand. Right now the supply of new stock is overwhelming demand so the whole market just gets hammered until you trade for a living, you might now understand how this works the software a video game plan and they dont have spare cash lying around, what do they do . How do they get that piece easy they sell. They sell the stock and companies that dont understand it anyway. If you have a stock on the deal and you flip it, well, thats free money free big profits and you got to take free money when wall street is giving it to you. Take public at 52 if you got some at 52 in the deal it scored to 75 where you can cchaching. S
S p 500 few you ares up 15 the nasdaq with a gain of about 1. 7 all because of what is happening with four big horseman check out shares of apple, facebook, alphabet and amazon. They went before congress two days ago and came out with earnings that knocked it out of the park on every one of those counts three of the four are trading sharply higher apple up 6. 1 , facebook up 5. 8 , amazon up 5. 4 alphabet did beat earnings estimate did post the first revenue decline and is down 0. 67 . More on those in a second. Lets kick it over to wi will everyone wilford. Good to be back extraordinary numbers, as you said well discuss those in a moment. First check out this mornings agenda as we are closing out the week well bring you results from cat, chevron, exxon and merck. Kol gate, underarmor and others. The late day of july lets check out the market score card owl three major indices on track for the fourth straight gains. Nasdaq the big oner up 18 month to date up 5. 2 . This past week, back
Is the overall market. This is really helping. The dow industrial will open with a 500point gain. We were up 500 yesterday, youre up about 1100 points in 24 hours. The s p to the upside big time and the nasdaq up 76, it is a rally. Travel related going straight up as well, if there is a vaccine that works, people can take it and be safe on planes and cruise lines, we could get out and about more on a mass scale safely. Backtoschool might get help as well from the vaccine news. Hold on we are not done with big winners. Apple one a 14 billiondollar tax fight with europeans. They won, that stock is back almost, its at 394, 395 a share. Straight up this morning. Goldman sachs a big jump in profit, watch the stock grow. If the dow stock helping overall market. Your money is often running, we will have a grand old time following it for you. That is not all on the show, trump guy one in alabama beating Jeff Sessions while a wide margin. He will be on the show. Joe biden reveals his economic p
Of the pandemic. Well talk to mayor of miami about what his city is doing to get back to business in these very tricky times. Power lunch begins right now bob has more on the markets today. Bob. Were grappling with that right now, four to one advancing to declining stocks. The market continuing to believe the primary thing affecting them is the rope ieopening the market believes its going well you heard about the president s tweet. Is that heetsing up. There are people questioning over the weekend any need for more fiscal stimulus saying we sit back and see what happens at this point thats an issue. Three of the four, an issue over the weekend. The russell 2000, small cap. Were seeing banks, retailers doing well were seeing transports doing well today those are airlines this is all the roping stoe ing and the market believing that is koptsing. Most markets are at the highest level since early the first or the second week of march were not seeing dramatic break outs its the same old nam