Good morning it is 8 00 a. M. At tesla headquarters in palo alto, california it its 11 00 a. M. On wall street squawk alley is live good Tuesday Morning im jon fortt with Carl Quintanilla back again it is a busy day on wall street with the dow hitting an all time high making another run at 30 k. That comes as president elect joe biden is reporting tapping former fed chair janet yellen to run the treasury department. Tesla is continuing the record run now topping half a trillion dollars in market cap. Making elon musk the worlds second richest person on paper and apple making another concession, carl on App Store Fees a lot going on yeah. We talked about that early moving being the small crack that starts to widen as for tesla, i mean, whether its some of the reports about a hatch back in europe or longer range vehicles or just enthusiasm over the ev space as we gheet into a Biden Administration on top of the gm news yesterday, jon. So there is a lot happening in the ev space and then m
Disney earnings smashing expectations. With disneyland closedend movie theaters dark, can streaming make up for more bosses ahead . Peloton has been the pandemic diving with a new campaign in a partnership with beyonce. And waitvaccine news times. We will talk about it all later this hour. Amid spiking cases today. The s p 500 sank as new york y prepares for the possibility of closing at schools while chicago issued an advisory, urging residents to avoid leaving home except for work and other essential activities. Abigail doolittle has been following it all. How . Does this impact the markets . Abigail it was a bearish day at the end of the day as investors some of the news around the virus. It is clear it is surging in the u. S. Before we talk markets, a lot of movement after hours. Some of those movers you were talking about. Disney is surging. A blowout quarter. Like so much, it is a story of the haves and the havenots. Media was up 11 . Theou were indicating, studio is down 52 and
Theaters dark, can streaming make up for more losses ahead . Peloton has been the pandemic diving with a new campaign in a darling with a new campaign in a partnership with beyonce. Still plummeting on positive vaccine news and bikes have long wait times. We will talk about it all later this hour. U. S. Stocks slumping amid spiking coronavirus cases. The s p 500 sank as new york city, the early epicenter of the pandemic in the u. S. Prepares , for the possibility of closing schools while chicago issued an advisory, urging residents to avoid leaving home except for work and other essential activities. Abigail doolittle has been following it all. How did this Impact Market moves today . Abigail it was a bearish day at the end of the day as investors took to heart some of the news around the virus. It is clear it is surging in the u. S. Before we talk markets, a lot of movement after hours. Some of those earnings movers you were talking about. Disney, this stock is surging. A blowout quar
The only stocks that are doing well right now, some of the reopening trades and some of the big laggers for the year like cruises and airlines and some retailers still in the Green Energy Stocks also outperforming. Is this the start of a serious correction or a buy the dip opportunity were diving into that debate. 59 minutes left of trade 59 minutes of of this roller coaster session. Lots of guests as well the market pulls back. Well speak with three ceos that got insight into the state of the consumer, their spending and recovery in america. The ceo of campbells soup will join us on the back of had his companys Earnings Results that stock down 7 right now plus, well get two reeds on the beaten down travel sector with glenn fogel and mark hopelinger. Well speak with nick clegg about the new policies surrounding the election looking forward to that one. Lets get straight to our top story of the day the market selloff Mike Santelli has more on the major market pull back. A big pluflush o
Waiting new tariffs on 3 billion of experts waiting germany, france. The nasdaq is falling. Abigail doolittle has been watching this. Why the sudden drop . Up. Ail reality is catching its has been disbelief for many market watchers as stocks have climbed. The nasdaq just yesterday at an alltime high even as we have had disappointing economic data. And more recently news around the virus hotspots in the u. S. Today the information coming out hitting stocks. The s p 500, the nasdaq down. It is a continuation of the big selloff we had two weeks ago. Volatility showing up in other asset classes. Bonds themselves rallying. It was a true risk off day. Virus fears weighing on stocks but another factor, the nasdaq 100, i was talking about an alltime high, it is amazing how far it has gone, climbing the wall of worry, now a bit of a pause if the bulls are lucky or if it is a steep uptrend, you could keep it parabolic. For physics that cannot hold. You could see potentially a bad decline. Hopefu