Restrictions in new york city is boosting education about masks and social distancing. U. S. And china ramping up tensions. Washington rejects beijings claims to the South China Sea and top senators are facing mainland sanctions. Shery lets get you started with a quick check of how the markets are trading. U. S. Futures opening higher, gaining one quarter percent after stocks fell in the regular session. Sharply higher throughout most of the day and then we saw a bearish reversal in the afternoon. Marcus dealt a double whammy with data showing that virus cases surged in california, as they that makes up 15 of u. S. Gdp. Not to mention escalating tensions between the u. S. And china. The u. S. Denounced chinas claims to the South China Sea. The s p 500 at one point hit the highest level since march before falling in the afternoon. Led by tech and communication stocks. The nasdaq composite hit another record high. At the end of the session, the biggest fall in more than two weeks. Take a
Second week in a row that its starting out just in the right way. Yeah. I think theres people who just feel that this great shutdown is over obviously its worldwide the spending will begin again. I keep hearing that theres a surprising number of survivors that its not as bad as we thought. With the exception of some mortgages and some credit card, the forbearance wont really reverberate through the system reverberates to the banks. I know theres people who want to try to get the banks going. I say stick with whats working. I know its boring i know people want to rotate its something that Portfolio Managers love to do. I dont like to rotate into any stocks that have numbers cut thats really important. Im looking at david faber, who looks, of course, fabulous im thinking about him because its the credit markets we have to worry about, not the stocks they look great. Whats your concern in the credit market specifically, jim . Like hertz. Its not like theyre nothing. Hertz owns a lot of ca
Announced a dramatic shift in u. S. Policy in the middle east. Well bring all the breaking headlines and reaction from danny danone, israels permanent representative to the United Nations coming up later in the hour. Plus it hasnt been out for a full week but your disney plus account may already be compromised. Then there is ford. Betting on electric. The risky move the automaker is making with its new mustang. Melissa we have fox Business Team coverage. Blake burman at the white house. Kristina partsinevelos, on the floor of the new york stock exchange. Phil flynn is watching oil at the cme. Edward lawrence with the latest on trade talks from d. C. We start with kristina. Starting with me instead of Edward Lawrence. What well talk about is the hp deal. A lot of people were talking about rumors that xerox wanted to buy hp. Unanimously hp board decided to reject xeroxs bid. In . They think it is way too low at 22 a share. It undervalues hp. Youre thinking similarities between the two po
Good wednesday morning welcome to squawk alley. Im Carl Quintanilla along with Morgan Brennan here at the New York Stock Exchange. One more day of jon fortts time out west, this time in san diego at qualcomm headquarters 58 points only for the dow but well begin with uber and the expiration of that post ipo lockup period meaning that an estimated 90 of shares are now available to trade at a new record low in the stock today. It was off the lows but down another buck and change means its hanging on to 26. 78. Foundation partner paul holland is with us along with mike isaac of the new york times, author of super pumped, the battle for uber. Good morning, guys, good to see you both. Good morning. Hey, hey. Mike, because were all trying to gauge the interest in owners alleviating themselves of shares in this expiration, do you get the sense that they want to sell or are shares so underwater that theyre going to hang on . Yeah, you know, its been kind of mixed. Theres a lot of employees ive
The District Attorneys race and, when we might get a final election results. Kpix 5 news at 7 starts now with a look at Treasure Island, the lights are on now, but that was not the case, last night or earlier today. The evening im ken bastida. I veronica de la cruz, Andrea Barber asked the utility agency, why cant they keep the lights on . What did they say . Reporter well, they say its because of old infrastructure passed down from the navy that they dont actually own. A fix is coming for people who live and work here it is not coming soon enough. Supposed be back two hours ago. Reporter 11 Power Outages in a single year are wearing the patients thinner than the thin near the 50yearold power lies that are supposed to keep the lights on. . Our office is supposed to have generators. All this morning were working off the generators but now the power is out and, going back to civilization. Reporter those who call ti home, the grocery bill cost of spoiled food is adding up it is sitting in