Of the vaccine and the test helping stock prices. Dow jones up about a hundred points at the open, seven for the s p and eight for the nasdaq more retailers reporting this morning and target looks good work samestore sales up 20 , another measure of the strength of Consumer Spending, just like walmart, target stock up 2 at the moment. Look at this, bitcoin crossed 18000 per coin and has backed off to 17855, about a thousand dollars or shy of its alltime high 19640. I was a skeptic, maybe its Something Else i should have bought that didnt like apple, tesla, amazon, zoom and so many more. We do have a jampacked show. New york Governor Cuomo says President Trump had nothing to do with the Rapid Development of the vaccines. You will see him say it. Boeing gets max judd approval and is now ungrounded. How about this for thanksgiving, noticing, no shouting, kp the music down so you dont have to raise your voice and my off the alcohol. New restrictions for thanksgiving is growing. Varney co.
Out what the Federal Reserve is going to do to rev up the economy. Big speech coming from chairman powell. Odds are hes going to talk about inflation. He wants more of it. If thats correct, hell be printing a lot of money. Literally seven minutes from now make that nine or ten minutes from now, we will be allowed to give you the official word. And, by the way, thats what the markets waiting for. The dow jones average is coming off the dow is going to be down about 22 points, roughly that way. Lets see what happens when we get the feds announcement. The s p, thats coming off its 18th alltime high. Down a couple of points at the moment. The nasdaq is coming off its 38th alltime high. We did receive news of just over one million new jobless benefit claims last week, no noticeable impact on the market on that. That market, the investors, theyre really waiting for the fed. Five big tech stocks, theyre coming off record highs. Here they are this morning, premarket. Apple is up some more, but
New claims actually rose. And 17 Million People are still drawing Unemployment Benefits. I believe thats a negative for the overall market. Get to that in a second. Look at this. Amazon, apple, google, facebook, the day after the top executives took a pounding from the politicians, these stocks went up during those hearings. They are down in preMarket Action this morning. Hold on. All four of these giants will report their earnings later this afternoon. This is big techs big day. My opinion, these Companies Need blowout numbers to sustain their very lofty stock prices. Watch it unfold at 4 00 this afternoon on this network. Overall, i got a lot of red ink to show you. The dow is looking for a loss of over 300 points, down maybe 40 for the s p and off 131 on the nasdaq. Heres one of the negatives thats hurting the market. Emergency virus relief. It runs out in 24 hours. Congress is divided over how to replace it or extend it. Investors want more stimulus but theyre not sure they are goi
Which is indeed making a comeback. The latest numbers show a sharp increase in new cases, running to about 40,000 a day. The virus task force reconvenes today for the first time in two months. Some states are pausing their reopening program. That is a warning to the nations economy and the rebound. The wall street journal, this is an important warning for the president. The powerful Editorial Board bluntly said hes heading for defeat. Thats a warning for wall street, too, because a biden win would be a real challenge for stocks. So where are we this morning . Warnings duly noted. Ive got some red arrows there. The dow is down about 180. The s p down about 10. The nasdaq down about 15. Red arrows for three indicators. All right. Im going to call this a positive. Remember the mob that threatened to take down the lincoln emancipation memorial . They were supposed to attack it at 7 00 eastern last night . Well, it rained. The limited number of people who showed up retreated to shelter. The
Gain i think im looking at the right place, nasdaq composite, up 1. 5 . We are doing well this morning. Now look at this. Novavax started phase one trials of a vaccine with human participants. Results expected in july. Big stock gain. By the way, the ceo will be on the show today in our 10 00 hour. Merck are working with an austrian vaccine maker and they have established partnerships with others in the field. Merck is a dow stock and it, too, is on the upside. 3. 7 higher. Heres the bottom line. There are hopes that a vaccine may be developed more rapidly than thought possible. All right. Im going to show you some of the scenes from around the country this memorial day weekend. Its the official unofficial start of summer. We took every opportunity to get out and have a good time. That suggests the recovery is picking up steam. We will show you more about this in just a moment. Joe biden, he broke out of his basement for the First Time Since march 15th. He was wearing a mask. He and hi