Nasdaqs going to be up about 60 at the opening bell. From the low of march 23rd to the close yesterday, the value of all publicly traded companies has gone up 12. 2 trillion. You have never seen anything like that before. Next, tesla. Musk does it again. Grabs the headlines with a five for one stock split. That may bring in more Retail Investors. Doesnt change teslas business, but the stock is up bigtime premarket. A gain of 84 bucks per share. Apple announced a four for one stock split a week ago and apple this morning is leading the big tech rebound. Its up four bucks. Then theres this. The big ten, now the pac12 have canceled their football seasons. Looks grim for the college game. This is a financial story. Colleges will lose billions. That virus changed everything, didnt it . Larry kudlow joins us again later. What does he think of a 12 trillion increase in the value of American Business in less than five months . Hes got something to say about it. Hes on the show. Wednesday, augu
Add that to concerns over the virus caseload and youve got this. The dow industrials, down 700 yesterday, down maybe another 200 this morning. The s p down 80 yesterday, down another 20 today. The nasdaq yesterday, down 200 points. Today, down about 13 points. A sea of red ink over there. A big loss especially for the dow. 1. 48 million new jobless claims this past week. Now, thats not a good number and it pushed stock prices just a little lower when that news was released at 8 30 eastern. Now, today, President Trump heads to wisconsin. Good timing. The democrat governor there has just called out the National Guard. A protester wielding a baseball bat and bullhorn harangued a restaurant crowd. He was arrested. Molotov cocktails were thrown, the Police Needed help. Governor evers sees the light and calls in the National Guard. Same thing in washington, d. C. Hundreds of National Guard troops now marshaling. They will protect the capitals monuments. Thursday, june 25, 2020. Varney compan
Likely to hit around 15 . This morning, the private sector reports the loss of 20,236,000 jobs just in april. Reopening the economy is designed to try to bring back some or most of those jobs. So here we are. With all the bad Economic News breaking around us, what does the market do . Well, it rallies. For the third day in a row, the market opens higher. This is a bet on the recovery and a bet on the federal reserve, which is putting at least 4 trillion into the economy, and the treasury which is putting in over 3 trillion. Thats called stimulus. Investors appear to like it. The dow is going to be up about 140 points. Nice gain there. The s p up 15, nasdaq up about, what, 58, 60. Look at this. Oil, 23 a barrel. Thats where it is now. Earlier, it had been at 25. There has been a dramatic fall in supply and a hopedfor pickup in demand as some states start opening up their economies. So thats why we are in the mid 20s for the price of oil. But you can say goodbye to the gas price decline.
Up 25 for the year. It makes sense to be concerned about a little bit of a pullback in 2014. You worried . Cheryl, im glad you brought back brought up a pullback because, quite frankly, ive been looking for one for go, three months two, three months. We had a great run on the dow and the s p, up over 25 , and virtually no corrections. The best correction we had in the s p was about a 4. 5 correction a few months ago. A real corrections about 10 . I can tell you right now most of the indicators we look at are not telling us were looking at a correction anytime soon in january, but were seeing heavy call buying activity and the vixx in the february and march call she questions which tells us professional traders are looking for something to happen in this market later on in the First Quarter of the year, if you will. The money flows will drive this market higher in january and then look for that correction somewhere else later on. Cheryl ben, chris is coming up later in the show, and he