The Political Panel weighs in on that plus a new poll showing a real conundrum for voters in the story that blew me away, we will introduce you to a 15yearold business owner, a 15yearold business owner. All that and so much more on making money. Charles washington spending trillions of dollars again to help the economy, a lot of the economy has already come worrying back and in the process the rich have gotten even richer, everyone else seems to get more better and moreover blaming capitalism saying it did not curve the debt and come up with solution needed in the age of coronavirus. Affords headline says capitalism is failing us just when we need it most. In ap news headline, from the pope, marking capitalism has failed and pandemics means reform. Many of the critics of capitalism have never been fans but the jobs disappearing in 2020 is giving them a much bigger soapbox, is capitalism fading and how does the narrative change, lets ask a champion of capitalism, steve moore, they are c
Holding onto those gains. The s p 500 up. The nasdaq is up 2. 4 . The dow is up 1. 8 . Chipotle is at the top but like many other companies it beat estimates. The dollar continues to strengthen. Standing by with a deeper dive into the action we have taylor riggs. Taylor you mentioned crude on your board and i wanted to start with oil prices. They were up 20 or so after six days of losses. Theyre trying to rebound but still down where the 50 . It is unbelievable the price action. U. S. Oil inventories have risen for a 13th straight week but there is potential positive news. Yesterday, they were shortselling on a stock and if it plunges more than 10 that would apply to the largest etf. Some of the reasons we are seeing some stability. We need to talk about the largest oil etf. It is tracking crude prices pretty closely on a yeartodate basis. We know that yesterday there was a premium to the shares given that they ran out of what to sell investors. Theyre trying to take advantage of low o
Bostick. The to us about what drove numbers down again today . It seems they are waiting on a stimulus package from the senate. Romaine that is really where all eyes are right now. You saw the market rally in the premarket but all of those gains faded and we ended up down on the day because of the negotiations that have been going on in washington. We had a vote to advance that bill in the senate. That failed to get the 60 votes needed. You saw the market sort of sell off as a result. Mitch mcconnell said that it could be friday before this bill even makes it out of the senate. It still has to go to the house and to President Trumps desk. From there, you still have to get that cash to people. The more time it takes to get this out of congress, the more you will see these market gyrations. The market wants to know who will be helped and how much they will be helped by. Fory it was an awful Day Financial stocks. Romaine this is all about the concern that there is a credit crisis. We have
Nasdaq above 9000 for the first time. Ry lets get used to lets get you started with a quick check of how markets closed. It was a holiday shortened week, but we saw some markets adding to those gains, those record highs, so the s p 500 was led higher by consumer companies. Nordstrom, macys, jcpenney all advancing. Not to mention u. S. Jobless claims fell to a threeweek low. Today the biggest gainer after saying this Holiday Season was recordbreaking. That surpassed and closed above 9000 for the first time, but usp stocks under u. S. Stocks under a little pressure at the moment. Lets turn to sophie for what to watch. Sophie that post christmas lull. Low japanese futures nudging higher. Some green chips could top this, which snapped an eightday drop. In tokyo, we watch for reaction to a report that the president of three Japan Companies will step down following scandals in the insurance unit. We are also keeping an eye on retailers across the region after amazon reported a recordbreaking
Expectations. Looks like it misses the analyst estimate. That perhaps is why you are seeing a drop in after hours trading. Services, 6. 81 million, that is an adjusted number. Revenue,arter adjusted you could say it misses or meets the average analyst estimate. Right now, looks like investors see it as a miss. Romaine it will be interesting to see. We are still waiting for broadcom and adobe. A lot of these idiosyncratic stories linked to the macro. Scarlet in the meantime, lets talk to our market reporters. Once again, i am taking a look at volatility. Lots of funky things happening there, mainly the fact that it is coming back. Right now, the s p 500 at a record high. The vix closed up three weeks in a row. This is something to Pay Attention to, because that happened in early january before the beginning of the volatility. That huge spike up for the vix in white, the s p 500 falling at the beginning of the trade war, than the volatility to come in the end of 2018 with a similar situa