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You know, of three straight weeks in the red this time its not tech thats leading the sell off you have materials, industrials and Energy Taking the market lower at this hour plus, still front and center for both washington and wall street is that tiktok melo drama. Will the chinese give it its stamp of approval. Power lunch starts right now lets go to bob for a look at whats happening and why. Bob. This did not start today. It started earlier in the month. It Gains Momentum in the last four days. Theres some very good reasons why. This didnt come out of nowhere. Lets review why the markets are down concerns in the uk about potential new lockdowns. There are increased trade tensions with china. Concerns have increased. Concerns about over value tech stocks that hasnt gone away. I think were seeing a bit of rising anxiety around the election this is not a mystery about whats go ....
All the fast moving developments. The back to improving trend here but the markets are chewing on that, i guess assessing not improving fluff. What is your take . I agree with you. If you look at continuing claims, they have fallen pretty dramatically. The weekly claims there is sense by the market to keep the momentum going. Maybe that is a stimulus package. We dont know. Obviously the market takes it as a slight negative. We have had in the economy last couple months is housing boom, explosion in building. It has driven up commodity prices. Lumber prices. Multiyear highs. Multidecade highs. There is a concern that may cool off a little bit. Housing starts slowed down a little bit in august. There is a little bit of concern, that maybe that bright spot in the economy is starting to go down a little bit but not so much if you look at the oil market. Look at the oil market it is kind of signaling Better Things ahead. Weve seen a big ....
Now. And a good monday morning to you. Thank you for joining us. Im marcus washington. And im laura garcia. Were all anxious to say good morning this morning. Yay monday. Hey, team, i hope you had a great weekend. Well check in with mike in just a little bit and lets check the forecast with kari. Hopefully some clearing from the smoke. Well, today is still looking pretty smoky. Unhealthy air quality continues as we take a look outside in walnut creek even during the night hours we can see how smoky it is. Were starting out this morning temperatures in the upper 50s and also staying cool because of the thick layer of smoke we have. As we go into today, though, we are going to see temperatures reaching into the upper 70s for the south bay, some low to mid80s for much of the inland east bay, and our north bay high temperatures will reach into the upper 80s for ukiah and clear lake with some low 80s for santa rosa. Ill be tracking the air quality. Well talk more about that coming up. Mike, ....
Nasdaq leading gains but european equities hold near the flat line and oil outperforms. Shares of altice soar after news of the buy out of the giant and delist the shares. Rio tinto ceo resigns after destruction of two aboriginal sites and unrest at the miners fallout. Welcome to street signs. Happy friday lets take a look at european markets and how we are trading we have a little mixed picture now. The dax down 0. 2 . The cac around flat line, the ftse mib down. Yesterday, we saw european markets retreat. We did miss that big drop off in the u. S. Session that took place after european markets closed. A little momentum coming off the lower wall street session yesterday. Lets look at the sector weve got Household Goods up. 7 health care, real estate tell come and food and bef a bit of a defensive tilt. In contrast, oil and gas down 1 the worst performing part of the market 5 , insurance, industrials sterling has come under press ....
Burning documents, not shredding them burning them, China Threatens to retaliate and feels and looks like a new cold war. We have a significant turn in the fight against a virus, President Trump says its going to get worse before it gets better. A clear sign that the economic effects will drag on past the election. However, the trump team signed a contract with pfizer with 100 million vaccine doses. America gets the vaccine first, they pay pfizer 1. 1 billion and the cost to you, 0. Two stocks, got to watch them all day long, microsoft and tesla, the Financial Results reported around 4 00 oclock eastern this afternoon, in advance of that those stocks are on the upside. By the way, as of right now tesla is the most valuable car company in the world worth more than gm, ford, and honda combined. And microsoft at 1. 5 t ....