With civil Rights Groups today to address the growing boycott the organizers of stop hate for profit calling the meeting a disappointment saying that Mark Zuckerberg and Cheryl Sandberg are not ready to address the hate on that platform and did not respond to demands of dozens of its largest advertisers the ncaa color of change, Antidefamation League and free press saying Mark Zuckerberg did not offer any tangible plans on how facebook will address the rampant discrimination and violent conspiracies on their platform the meeting that we just left was a disappointment facebook has had our demands in multiple ways and they showed up to the meeting expect an a for atte attending. Attending alone is not enough. Civil Rights Groups saying facebook did not address their list of demands, saying zuckerberg offered no automatic recourse for advertisers whose consent runs alongside hateful posts. They did not address why facebook recommends hateful groups and didnt address rampant disinformation
Lots of guests coming up mel Mellody Hobson will join us. Well ask if todays the start of a downturn or a buying opportunity. The ceo of icelandbased Decode Genetics will join us. What the company has learned about how the virus spreads. Its an interesting study. Lets focus in on the big stories we are watching in this final hour of trade. Bob pisani tracking todays selloff Courtney Reagan with plunging retail Sales Numbers and wilford. Bob, a little recovery weve seen lets take a look at the s p and call this one cuomo versus the horrible Economic Data because the markets once again, cuomo moves markets. 12 30, started talking about lower hospitalization rates, the market lifted at that time continuing to lift but cant compete against those horrible Economic Data sara was talking about. The energy, the banks, the small caps, the industri industrials, Economic News, they suffer the Energy Stocks getting pounded, even down double digits, some recovering off the lows like apache and hess
Little joins us to talk about the state of spending. Im Katie Greifeld in new york. Another quiet day on the screen behind me. The s p 500 unchanged. The nasdaq 100, more action but to the downside, currently off by. 2 . Also put the vix, not sure why but it never does much. Slightly on the rise, trading with a 13 handle on the vix. Lets find some excitement. Less than blockbuster results for morning brothers warner brothers. Poor performance at studios. Geetha ranganathan joins us now. What was your take away from the earnings . Geetha tv advertising and the Network Business continues to be under tremendous pressure. Tv advertising fallen by 11 and that crimped but there were bright spots. Cash flow was strong. This is a merger between warner bros. And discovery. They guided to an extra 1 billion on top of the 4 billion they already achieved. And then hbo max, good subscriber of momentum. They have a whole bunch of new international lunches upcoming. It is becoming a profitable busine
Higher by 0. 3 or greater. Look at the nasdaq. It has been a little more beatendown but today up more than 0. 5 . The best day from the nasdaq since november 30. Perhaps investors are feeling a little more certain around tax reform, d. C. Drama and more. One stock that is helping the indexes today we will be getting to in a moment. This seems to be a continuation of the trump trade. Here is this stock, General Electric is up nearly 0. 9 . This is after the Industrial Company announced they are cutting 12,000 jobs within their power unit. That is the biggest unit within their business, about 30 of the business. It is also the most troubled unit. The fact that they are flushing out the plan they gave back on november 13 to cut 1 billion in cost by cutting these jobs, investors seem to be cheering it to some degree thinking it is a solid first step in the turnaround plan. Shares on the year down more for theiron peak worst year since 2008. The industrial sector is the top on the day. Ge,
Everything is in the green, but very, very small movements in low volumes as well. 45 when you down look at the 30 day average. Story is in commodities. Come over here, and you can see the commodities index is up. That is a lot by metals. Is that the highest in five years, copper in four years on its 16th consecutive gaining day. Freeportmcmoran gaining about 3 today. Take a look in this chart. This is the bloomberg commodities index. It is seeing its longest stretch of gains in 12 years, and the index has been up for the past 11 days. Finally, i wanted to take a look at some movers. Lets switch up the board again. What you can see, these are some of the s ps worst performers on the year. General electric, under armour, all down on the year. We know that with ge, they are in the middle of a turnaround. The long time ceo has left in the middle of the year, along with another of budget top company executives. A new ceo reported a turnaround plan that was introduced last month, but not re