Points or 1. 5 . So as wall street presses the sell button, a dramatic move. The struggling Hotel Industry shouting in a letter to the president to bypass pelosi and Senate Leader mitch mcconnell. One of the signers, the ceo of best western hotels, live with us on the roadmap they are hoping the president looks at and maybe follows for them. But as the markets reflect the angst over the rescue package status, you can see this with the dow intraday picture, the latest company to nab a ticket to the 2020 spacpalooza is flying high. The banking giant who now on her fourth spac will tell you why she picked the Digital Payments company to take public. Its first day of trade is today, right now. Wait until you see what its doing. But lets get to this fox business alert and breaking news. To prescott, arizona where President Trump is expected to appear at the first of two rallies today in the grand canyon state but with just 15 days to go before the election, it was his comments on the tarmac
Endangerment of public health. Hes investigating. In boston, a packed party boat making headlines. Absolutely no social distancing. That party boat operation has been completely shut down. In new jersey, no pictures yet, but 700 people attended a liberian Independence Day party. It was staged at an airbnb rental. Plenty of alcohol and twerking. It took police five hours to break it up. Hundreds ticketed. There is, however, positive news on the virus. Pfizer is now in phase 3 testing for its vaccine. That is the final stage. Just like moderna. And the increase in virus cases in two key states, california and texas, is slowing down. You better take a look at this. Kodak. Remember them . They are getting 765 million from the government to make the ingredients for pharmaceutical products. They will replace china, which currently dominates the supply chain for the Building Blocks of drug products. Watch that stock go. The dow industrials, they are going to be on the down side this morning.
And say the market is reaching extremes of being oversold theres been signs of internal panic and we were set up for at least some kind of snapback. A couple caveats there, we did have a couple tuesday rallies of 5 and 6 the past couple weeks that did not arrest the downtrend. One thing you can hang a little bit of weight on right now is the fact that over the past several days youve been able to look below the surface of the indexes and see more differentiation, separating winners from losers and a little more stock picking and less indiscriminate selling all sets us up for a good bounce on obviously expectations of policy traction that were getting from the fed and congress likely. All that seems to say its a bounce, a very strong one, its an overdue one will it carry on to anything i dont know that we can say for sure, but i like to say every bottom start with a bounce, not every bounce becomes a bottom. In the meantime just i think to put your point into one phrase, its turnaround
His views on where to takehere america are older. And anyway, well, it just i dont want to get started. Joe biden goes on late night. He brings his glassese but forgets his lines. This is an ngo paid for by Government Money and it is for shelter. Why so much secrecy . Thats what the American People want to understand. Why wont Migrant Hotels let fox in new thing . A comedy stage is the last place in public. You could say awful things because they cant cancel me because i got nothing going on. Pu seattle cancels a comedy show drugs, crime and homelessnessawfu that stays. Plus, that guy swore 30 pm and most of michigan where the first polls close in the states primary for republicans ,16 delegates are up for grabs tonight, with trump being the massive favorite in thethe fi contest. He already holds nearlyrst g 100 Delegate Lead over nikki haley and four democrats. Rawithng the biden faces a Chm Progressives in this state over his stance on the war on gaza. Now, a lot of those voters, ara
What arm and instacarts price action will tell us about this debut. Topping the tape for us this morning, fairly obvious, that is the fed decision ahead of that, rates retreating a little bit with oil holding pretty steady. B of a today did up its yearend price target on the s p to 4,600. About 7 upside, while citi says that Global Growth is likely dom in higher than predicted lets bring in cnbc senior markets commentator, mike santoli. And that bullish note on growth is probably one reason why yields havent fallen much thats for sure that, the feds message of higher for longer. And just in general, its all the things we see as headwinds are, as ive been saying, coming against an economy thats already been humming pretty well also, the fed in a pretty good spot, you would have to say. The fact that they basically communicated a likely pause, the market internalized a likely pause, rates roughly where they need to be if the whole debate is about whats the pace of potential cuts next yea