He criticized republicans for either wanting, and im quoting him now, to do nothing or not enough. Meanwhile, the new jobs report is out today, underscoring the severe Economic Impact of the coronavirus pandemic. The u. S. Economy adding just 49,000 jobs last month, leaving the country still down almost 10 million jobs since the pandemic started one year ago. Lets begin our coverage this hour over at the white house. Our chief White House Correspondent Kaitlan Collins is standing by. President biden is emphasizing the urgency of his massive pandemic relief bill. Reporter capitol hill appears to be listening because both chambers have passed this resolution, paving the way for democrats to move forward on this bill and making clear they want to do so quickly. House Speaker Nancy Pelosi says theyll start drafting that legislation next week, potentially get this passed by the end of the month. Wolf, here is the catch. There are no republicans on board. Right now the white house and Presid
Day. Pete, i come to you. Jpmorgan the quarter was good Loan Loss Provisions were surprisingly good. The commentary today is a surprising show of coronavirus resilience thats what i just read. Why is the stock down . You know, initially it had a nice pop to the up side, scott i think people step back and say the financials, we need to hear a lot more about what theyre going to be able to do at some point in time thats outside of the trading spot because thats another area the Loan Loss Provisions, you just brought that up but how about the trading numbers . The trading numbers are outrageous for them and for citi that is an area we expected to be strong. It was Even Stronger than expected but theres more to the bank than that. I think thats what were going to be struggling with for a while with these financials. And when you look across just about every name, scott, other than Something Like a black rock, asset manager. When you look at the banks and the financial world there, they jus
Sales way ahead of the season which would be black friday. Seismic shift here to this calendar here. Does this surprise you . Melody, you start to talk about it since june and every year it is further back. It is making me crazy. I admit that is maybe i am old school, everything you just mentioned until after thanksgiving that to me is the official Holiday Season bahumbug amazon is rewriting the script i guess in some way is good for them we have sales, walmart and target during the week and especially in light of this weird environment we are in which is an expectation of stimulus but no actual stimulus here well, we may be the line of misfit tonight there is no question amazon and walmart are the leaders. An acceleration of all these trends we spent so much time talking about fast money of the trends being pushed forward but already in place 49 measured through last month. As you go into the Holiday Season is bigger amazon about 32. 5 it goes to 38 they continue to take market share
Pizza. One stock serving up serious game thanks to leftovers the dow was up over 500 points the rally, driven in part by President Trump who made an about face on stimulus, putting aid back in play before the november election. So, can we expect this rally to continue you know what struck me about todays rally is that we what is that, mel that we closed nine points higher than when we closed yesterday. We are better off today hoping for piecemeal parts to the stimulus plan than yesterday i made it a point, albeit clumsy, that President Trump, in my opinion, is extraordinarily focused on the stock market. The administration has said it for years, the stock market is a report how well hes doing so for him to tweet something and then watch the dow jones g straight line, it had to be upsetting. I thoughi didnt think it wouldn six hours later, but we are here i think they have learned how to speak the language of the stock market to your point, nothing has changed, but here we are increment
Wall street is looking for any clarity on stimulus following President Trumps tweets, suspending further negotiations until after the election yesterday but calling for targeted relief since then for airlines, Small Business and a new round of 1200 checks. Eli lily saying its seeking emergency use authorization for antibody treatment dr. Gottlieb says its a major step forward got a bit of reversal from yesterday. Quite so. On todays show, restauranteur danny meyer putting out a plea for lawmakers to come up with a stimulus plan. He will discuss what it would mean for the Hospitality Industry if help doesnt come through soon plus kara swisher on whether any of that will mean real change Steve Liesman has the fed update for us, and joining us to break it all down is jeff sherman from double line capital. Steve, lets start with you. Wilf, thanks. Fed officials in their meeting from september had begun to have concerns about the possibility additional stimulus would fail in congress. They