Use authorization its covid19 vaccine. You can see pfizer punching up about 1. 7 at the moment. Remember that were looking at a comeback perhaps late in the day, in the next 59 minutes, because that is the dow had fallen 430 points, now we are down just 116. Any gain for the s p, the russell or the transports means another record. Were not there yet right now. The nasdaq up 9 points. Fed chair Jerome Powell also giving markets a boost by calling on congress to get moving, already, on a new stimulus package. Former chair of the council of economic advisers under george w. Bush and now Columbia Business School emeritus dean, Glenn Hubbard is here on whether we need it, how big it should be and how worried he is about the precarious recovery. The ceos of facebook and twitter forced to run the Senate Judiciary committee gauntlet on capitol hill once again. One senator equating the social media sensations as quote, modern day robber barons. The ceo of whats being called the antifacebook is
Again. Microsoft, amazon all hitting record highs the nasdaq flirting with another record close despite the Broader Markets selling off. 59 minutes left of the session sar yash sara, were down. 5 . We have big guests coming your way well be speaking with Loretta Mester about the economic signs she is seeing in america and how the fed is weighing the spike in cases. And the rollback of the reopening measures across this country. Shes a Voting Member of the fed. Plus, 150 million, that is how much Deutsche Bank agreed to pay in the settlement with regulators over the dealings with Jeffrey Epstein Deutsche Banks ceo will join us to talk about that settlement and a whole lot more an important update on the business lets get straight to the big stories were watching with one hour left of trade mike santoli tracking the market meg terrell has details on a 1. 6 billion as part of the operation warp speed effort to battle the coronavirus and get a vaccine. And phil lebeau has the latest on the
Woke hypocrisy . That and much more on making money. Charles all right, folks here is what i think are three main reasons for todays steep sell i dont have. Stocks got too expensive, short term, bottom line. Last week we saw the stock market put it in the best 50day rally in it history. Guess what . It only got stronger. It got parabolic. That is chance that weve seen best 60 days ever and pullback was way overdue. Second, the Federal Reserve refused to lay out concrete ideas how they provide extra hope to prolong the recovery. Wall street wanted more about bending that yield curve. Third, investors are waiting to see how much cash begins to circulate in it economy. I want to bring in two of my favorites, wallser, rebecca wallser and keith fitzgerald, principle his group. Keith, before you start, from march 23rd to the peak this week, s p was up 45 , dow up 47 and nasdaq up 46 . I like to remind people occasionally markets go down. Thats the thing. They stink. Theyre uncomfortable. Its
Dire projections and devastation from covid19. Were down five basis points good lineup today well speak exclusively with the cfo of tyson as concerns mount about the safety of Meat Processing plants. Plus, Mike Novogratz will join us on what he makes of Warren Buffetts comments on the airlines and market, plus, well speak with tom steyer about the path forward for america specifically, he sits on californias task force to reopen the economy along with janet yellen and tim cook. Well start with breaking news from the treasury. Kayla has more from washington the Treasury Department says it expects to borrow just shy of 3 trillion in this quarter alone to fund the expenditures outlined in the cares act stimulus and also to off set the individual and Business Task revenue thats not coming this because of that delayed deadline to say this is a record amount is an understatement the last record that the treasury saw for borrowing was the quarter july through september 2008 the height of the
Here. Kron will keep you updated as we do see any sort of Thunderstorm Development traveling up into the sierra. Honestly, just a nogo. Stay put, stay safe. We are going to see 0 visibility in the mountains because its not just the feet of snow but 80 to 90 Miles Per Hour winds. Thats whats prompting these blizzard warnings that will remain in effect through the weekend. Once you head to the top of Donner Summit, most models are indicating we could have around 9 feet of snowfall piling up. Its going to take days for crews to get up there to shovel all that out. Current temperatures are in the 40s to 50s double in fairfax, sitting at 49 oakland, alameda, San Francisco. Each 53 right now later on today. Daytime highs rise into the upper 50s right now. I dont think that lets get you things are very slick and wet out there. If you are going to traveling into the city this morning. 13 minute ride down the bay bridge. 7, 2, words around 14 minutes there. Richmond center fell bridge 10 minute