nasdaq futures up by 2.48%. a bit to the dollar broad-based. 1.17% going into the this coming thursday. the bid in the bond market down .4%. chief of staff for the white house, mark meadows is speaking. he is optimistic on a stimulus deal before the election. that is the way people feel. because there is an election coming up and many people that believe that is the incentive. tom: we welcome all of you to our simulcast and we will stay on the markets. some significant deterioration with the vix out almost five point. 35.42. right now we need to reset. the reset for jon ferro, lisa abramowicz and me was somewhere in february culminating in march where things deteriorated and were horrific in new york city. the united kingdom improvement in deaths, the miracle of what new york has done in deaths and other states has been noted i all within the medical community. robert murphy is an expert on this at northwestern, professor of infectious diseases. as this pandemic ages. what is to come? i lost half of a sentence,

nasdaq futures off 2.5%.y world ♪ ♪ how can i, when you won't take it from me ♪ ♪ you can go your own way ♪ ♪ go your own way your wireless. your rules. only with xfinity mobile. >>> stocks facing more pressure. standing by with help on how to navigate when could be another important week for the market and your money weeks before the governor is trying to strike a stimulus deal the founder of jelly belly holding a trooerz hunt to give away his candy factory more here on cnbc. ♪ >> welcome back and good morning. could be another big market day. let's look at stock futures. you can ignore dow futures this morning. you need to focus on nasdaq futures. technology is where the positive market action has been and the negative market and that will continue today nasdaq dfutures are off their lows around 7:00 a.m. eastern time, a lot of people hitting the virtual desk and moving the markets. last week, we saw the nasdaq dak a hit and the s&p 500 go with it, snapping a five-week winning strees we learned softbank was

the nasdaq down 396. our floor show traders, including jpmorgan's david kelly, are getting in front of the cameras. they will have instant reaction. >>> from northwestern to northeastern to west virginia, colleges are grappling with coronavirus closures and suspensions. the ceo of the nation's leading direct-to-student digital learning platform thinks higher ed, ready for this, is in a bubble and maybe the pandemic is about to pop it. he's here in a fox business exclusive. >>> plus jillian michaels, one of the biggest names in fitness, is rolling out a new workout from home app as gyms struggle to reopen after the pandemic. she's here to whip us into shape. we will get you the latest numbers from peloton. >>> gm's stock electrified as peloton is spinning higher. less than an hour to the closing bell. let's start "the claman countdown." liz: this is a fox business alert. general motors stock is electrified after the automaker said it's taking an 11% stake in nikola. that is, of course, the electric truck c

tom: nasdaq right now, down 2%.w we have to switch to politics and the presidential election, but the nasdaq futures -228.orate in qa, that is a big number, francine. francine: it is a big number angry to get marty's perspective on it. the market is concerned about this ramped up rhetoric around china and president trump, but now president trump is ready to put $100 million of his own money into the campaign. what does it tell us about his state of mind? marty: it tells us that his internal polling is not very good if he is willing to put in his own money. i think this race is a lot tighter than the polls would suggest and will get tighter still as we get closer to the election, 58 days away. so i do think that putting in his own money is not just a fool's errand, he thinks there is a chance that he can turn this election in his favor and he is willing to put up his own money to do it. francine: how tight is it, or how tight will this election be becoming? is it on 2, 3, 4 states again? marty: i think it will boil d

tom: nasdaq taking new lows.on ferro, i give you great credit for this because i keep jp morgan downd 24%, it shows the damage out there in the banking area alone. jonathan: the banks have struggled through 2020. jamie dimon said months ago that is not a normal recession and we have not seen the impact just yet. it might come later this year. as you look at the financials, how do you think about that? christopher: these are obviously names that are very sensitive to the shape and absolute level of interest rates and that is not had -- that has not been a good story. interest markets were starting to perk up last year and now it is compressed again and we don't see them expanding anytime soon. that being said, they are priced for that kind of outlook. the other dynamic that invokes a lot of fear, especially in march about credit. credit seems like it is going to end up better than was feared. it is still going to be an ongoing issue as we work through this recovery. tom: new lows this morning. of 350 nasdaq point.

we're all in the red are here, the dow, the s&p and the nasdaq, but really it's the tech-heavy nasdaq down 115 points. but, you know, the big it can names, those big names you know was definitely the9 catalyst over the last two days. will the tech stocks be the end of the major market rally, and what should investors do after the selloff ends? let's bring in our traders. we have tim anderson and larry silver. great to have you both here. >> thank you. >> great to be with you, cheryl. cheryl: great to see both of you. first, tim, to you. i mean, what do you make of this complete reversal? because this volatility -- i know we're going into the labor day holiday, i understand that, or and you sometimes have these big swings with the lower volume picture, but it's the tech story that seems to be throwing the markets for a loop, and there's some interesting machinations happening in the markets. what do you say? >> i just think this is the reaction that so many people have been waiting for in the market since we started this very, very sharp climb. maybe even in late july. i think there we

good morning welcome back we are seeing dow futures up nasdaq futures are up about the same nasdaq givingour worst week back to march 20. the height of the fear and the market selloff as well been a volatile ride as well two stocks in focus have been apple and tesla. a lot of you probably own apple or tesla as well we are seeing decent gains there. earlier in the week, tesla losing $88 a share single worst trading day for tesla. stocks up about 3.5% pre-market. not just the most important stock in the market. it is the market >> names not named with apple and tesla, nancy prial, i love that you brought us some new names. smaller cap stocks plural site, pfs. who are they >> caller: they are a really interesting company that is participating in online training for employees. they are focused on virtual learning and assessment in the it area. they work with corporations to determine what skill level their employees come in with and help them to get to a higher level or to catch up. we think it is a particularly interesting opportunity in today's world with underserved populations and up skil

look, nasdaq 3% to 4%. i thi i think you would end up higher at the end of the year s&p and nasdaq 100 >> appreciate it time will tell we'll have you back. you may be coming to say, i told you so or not we'll have you back. >> coming up weeshlgs return to more in the markets. some of these tech names getting hit hard this morning. tesla off close to 10% tonight on cnbc, tune in to a special program. path forward, race and opportunity in america i'll be joined by john ford and we'll look at underpresentation of black leaders that's tonight at 7:00 p.m. eastern time here onnb cc. anything your wild child does pampers cruisers 360° fit can too with a stretchy waistband and adaptive 360° fit so they can move the way they were born to [music]: born to be wild pampers cruisers 360° fit [ engine rumbling ] [ beeping ] [ engine revs ] uh, you know there's a 30-minute limit, right? tell that to the rain. [ beeping ] for those who were born to ride, there's progressive. [ beeping ] it's the simple joy of washing your

the nasdaq still weaker.h us this week, it's been great having you here meantime, everybody, make sure you join us back here on tuesday. "squawk on the street" starts right now. ♪ >>> good friday morning, welcome too "squawk on the street," i'm carl quintanilla with sara eisen and kayla tausche. coming off that biggest drop for stocks since june, futures are mixed as the dow and s&p look to stabilize, we will see about the nasdaq the august jobs number up 1.37 million in line with consensus, that unemployment rate much better than expected down to 8.4 and we will talk to vice president mike pence later on this hour about that data. sara, as we dig into it ourselves with pretty good numbers on government hiring, workweek is up

stocks hit hard as a tech sends the nasdaq down.ies fell and now futures are pointing to even more declines today. marketkman tells us jitters are no surprise considering corporate value and the proximity to a u.s. election. we will hear from him throughout the day and the focus, we will turn to the jobs report after u.s. unemployment claims figures gave a mixed reading of the labor markets. we will be joined by their he kudlow from the white house. as we said, stocks futures continued to slide both here, in europe, and in the u.s. after the s&p 500 clocked its biggest plunge in a few months. tech shares took the biggest meeting in a selloff that knocked down the highest flyers of 2020. here to walk us through the market is dani burger. dani: this is a tech heavy selloff. it looks worse than it is because indexes have gotten so highly concentrated. this is a good chart. i want you to focus on the green bars, the nasdaq, compared to .he equal weight s&p in blue if you look at the updates, it is green, the nasdaq coming out on top. it

the day the nasdaq peaked in march 10th, 2000 from that point through the end of the year, the nasdaq lost about 50% of its value. over the same stretch, four sectors in the s&p 500 gained 40% by the end of the year there's a very similar set up in a lot of these areas of the market we're not going o the use value but a lot that have not participated, we're seeing a similar thing in 2000. i think part of the discussion is certainly accurate that i think you do want to be rotating a bit into some of the areas that haven't performed it doesn't have to be value but it does mean we have come a long way in the nasdaq. the other thing i'll leave it with, the market is not independent of itself on any given day. we're seeing that the nasdaq is down the most since june 11th. the nasdaq is up 17% since june 11th there's a lot of unwind left to go we think today is probably the start of that. >> i'm thinking back to march of 2000 to the extent i remember it, there were a lot of companies going up and up and up but they were kind of phantom companies, weren't they? they never made a dime's worth

on the top you see the nasdaq composite. obviously it's well above its dotcom peak in 2000.hat's really interesting, ironic and telling, the bottom panel, the nasdaq even with all of this has not recouped its relative losses to the s&p since the dotcom peaked. that bottom panel with that circle i've drawn, you still haven't made relative highs, which shows how treacherous it is to buy into the top of a bubble in any convenienany event, let'e next chart now we're looking at a chart of the nasdaq what you can see is a clear break in trend i've simply drawn the trend line what we know is we have broken trend. this is the first break of the well-defined trend line that's been in effect since the march low. so where to? take a look at the next chart. we know and this is now the percentage decline, we're down 11.5% for the nasdaq index overall. once you've broken trend, what is your reference point? could it go down 15? of course it could the next reference point, the next chart is the january/february peak from which the market broke out we know the s&p has already gone back to i

nasdaq futures point to more losses in u.s. tech stocks, but europe looks set for gains, with ftse futures outperforming. the cash trade here in europe is less than an hour away. let's get your top headlines. softbank plummets on reports it made big bets on derivatives linked to u.s. tech. a selloff looks set to continue, although u.s. stocks are shut today for the labor day holiday. johnson plays hardball. u.k. officials say britain is not scared of walking away from brexit negotiations empty-handed. talks restart on that note in london this week. and cracks in the pipeline. germany's board member -- former minister links nord stream 2 to the poisoning of alexey navalny. we are less than an hour away from the start of european trading. there will be no u.s. equities trade today. you can see european futures are gaining. we are getting more german data out now, economic data. up 1.2%.strial output the estimate was for a gain of 4.5 percent, so a mess in terms of industrial production -- so a miss in terms of industrial producti

there was a lot of talk last week about a nasdaq whale. where do you see the faulting lines next?we are beginning to see signs of a reprieve on that front. when we look at the volatility gauge of the nasdaq 100, it also flipped from the past two sessions. that's in contrast to the decline that we have seen in stocks. typically, we would expect those to move in diverging patterns as a selloff would typically portend greater volatility. the fact that the volatility is coming off does point to the options frenzy beginning to abate. that is largely what drove that feedback loop. option traders are likely betting that the downside is limited. i think that is really crucial to arch. that does point to an early indication that the selloff that we have seen over the past three days is likely coming to an end. >> thank you so much. laura cooper from our mliv team. joining us this morning is paras anand, chief investment officer for asia pacific at fidelity international. thank you for joining us. how do you look at the selloff that we saw yesterday? what was a catalyst? and what does it me

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nasdaq futures are higher. yesterday the nasdaq did dip into that correction. we are seeing contagion across other risk assets. below $40 perdown barrel on brent. opec meeting last week. refineries in asia excepting from saudi arabia. there is worry about the demand side. the pound, i have been tracking this like every other american in london. 129. the trifecta of news run britain. social gatherings as well as brexit headlines. story, our top market that is the selloff in u.s. technology shares picking up steam despite futures regaining their footing. investors fled the high flyers for the third consecutive session. adding to the turn in sentiment, the report that astrazeneca's vaccine has been halted. to walk us through these market moves is dani burger. : it seems the three-day weekend did nothing to soothe the nerves. .his chart showing the s&p this shows you how this was a tech driven selloff. s&p fares better over three days then the nasdaq. concentration in the s&p 500 has become so heavily tech. tesla did not get included. it is in the nasdaq. 21%,inly

nasdaq, the big loser today. down more than 4%. stocks are selling off and bond yields are falling as well rick is tracking the action. at the cme hig hi rick. >> we had some important data today. even though ism services wasn't bad, if you look at the july services surplus, it was the smallest in 8 years. we get down to 60 basis points, ten basis points away from the low yield at 50. it's moved up a bit to 62. add in the dow you can see the dow hasn't turned maybe we're getting an early word from the treasury complex that maybe the lows are in on equities for the day the dollar index can't be the culprit for the drop in commodity prices it's unchanged today it's stabilized. virtually one of the small bounces for such a big move. tyler, back to you >> thank you very much, rick >>> oil market closing for the day. rahel has the details. >> long time no so oil is finishing slightly lore today. it's off its worst levels of the session where it hit the lowest point since early august traders still keeping an eye on the gulf of mexico wh

s&p 500, nasdaq, nasdaq 100. fourth straight negative session. by the way, the nasdaq 100, its worst month since october of 2008 trying to put all of this in some per speckive. we go to sue for the other headlines of the day >>> here is what's happening at this hour. the body of supreme court justice ruth bader ginsburg will lie in repose at the supreme court on wednesday and thursday. her casket will be moved to capitol hill where she will be only the second justice to lie in state there the first was william taft who was chief justice and president. >>> secretary of state mike pompeo and other trump cabinet members announcing new sanctions against venezuelan president and iran's ministry of defense for aiding iran's nuclear weapons program. you can go to cnbc.com for more on the latest sanctions. >>> an advisory board to the census bureau recommends the count be extended until the end of october saying more time is needed for an accurate tally and a robust processing of all of that data. you are up to date busy news day. busy market day. scott,

the nasdaq has improved. later this hour we have vice president mike pence joining us on the jobs report in the race for a vaccine with a new report in the atlantic that says president trump called wounded veterans losers we will talk to the vice president, but let's talk more about the nasdaq with the tech selloff continuing. some of the big names we follow closely, tesla is down after a 9% drop yesterday and today it's down about 2% in pre-market activity. the chip maker also about 9% yesterday and it also looks to open down by almost 4% today. that is free market activity as well. zoom after a big day earlier in the week seeing major prophet taking in the last two days down almost 2% and apple surging on its stock split monday but then down another about 7% yesterday down to about one and a quarter% in premarket activity after an 8% drop yesterday. we are less than two months until election day and joe biden is out and about. he made another .-dot this could be why the democrats want him to stay in the bas

the nasdaq is on pace for the worst month since march. index now down 8.5% since the first. if we lose more than 10.8%, it would be the worst monthly performance for the nasdaq worse than the march lockdown month. it looks like nelson may have nailed it. he sent out a note saying the nasdaq could fall 20% because it was just too overextended. >> speaking of all of the stocks in the index, only 10 are higher in september they include zoom, seattle genetics, align, moderna zoom up 44% this month stocks up more than 500% this year let's go around the world and get the european trade julianna tatelbaum is here with new concerns perhaps about some covid-fuelled re lockdowns in the uk and other parts of europe >> that's right. we'll first kick off with the asian sessions where we saw stocks kick off lower. the heavy selling we saw here in europe with the main benchmark plunging 3.2%. coming on to the trade, we are seeing a bit of recovery for the most part where they continue to underperform we've got the ftse 100 trading six basis points and the uk firmly in focus. we are looking

s&p is worst and nasdaq down 7%.n a technical correction in the sell-off yesterday, not just stocks. nearly every asset class got crushed. bitcoin lost 5.5% and briefly below 10,000 even lumberwas trading at record highs, fell 4.5%. the selling caught everybody yesterday. around the world, carrying around the world hang seng and kospi down europe following our futures they are in the green right now. we are seeing gains just under 1% across the major european averages dow and nasdaq futures are higher but it is early all of this brings us to a conversation the chief investment leader. we began asking chris, as a long-term investor, how is he reacting to the down turn that are more common place in the last three years >> brian, with he expect that level of volatility. we've increased diversification in the plan. i'd like to reduce the assets we have that are traded it is tough to find private investments we have to get out of the health crisis you hit it on the head, this is all about the market trading right now. >>

the nasdaq is down by 3.4%.

the nasdaq down 255, the nasdaq the worst performer. take a look at this intraday start.

nasdaq 12,000, new record closes for both nasdaq and s&p 500.ur or so of trading i want to say for the dow hitting fresh session highs repeatedly. a lot of this is talking about stimulus, talking about a vaccine. charlie gasparino mentioned a "new york times" report. there is lot of news circulating. cautious optimism. looking at strong markets. breaking news. "wall street journal" is reporting that robinhood markets is relating to sec probes with deals with high speed traders. the investigation is in advanced stage. the company could have to pay a fine exceeding 10 million. we're seeing a big shift in stock markets, as millenial investors in the market thanks to robinhood. reporter: since early parts of this year trading platforms have seen millions of new users starting to invest. a large fraction is 24 to 35 years old. what is interesting, more than half of the age group of investors are trading more often since the covid-19 pandemic began compared with 30% increase for the general population. overall, individual retail investors are now abou

the biggest nasdaq losers this morning, docusign, zoom, nvidia and tesla.e been very, very volatile on the upside lululemon is on that list too. the cooper companies reporting third quarter profits forecasting lower sales as the covid-19 him use of their product. shares of contact lenses, tests and more are up higher smith and wesson's firearm brand. the current increase is unparalleled their stock up more than 150% this year. keep an eye on that gun maker. yum china plans to start its stock listing roughly $3 a share and implies a total deal size of a total $2.2 billion it is expected to start twrading on the hong kong exchange and those shares are up on the pre-market trade >>> coming up, a bit of a bounce back, technology stocks remain under pressure investors ask what they should do with their money today. that's coming up next. first, some of the often talked about stay-at-home stocks hit hard yesterday slack, netflix, zoom, peloton, docusign all implied lower this morning. as a reminder, you can watch or listen to us live tonhe cnbc app. stay tuned he

nasdaq off by almost 4%.the s&p 500 has a possible reason why, they say softbank was a nasdaq whale. they bought u.s. equity derivatives that sort of soaked of the rally in big tech pullback on thursday. that would be interesting if it does pan out to be true. guy: we have been blaming robinhood for this, maybe it is not robinhood at all, maybe robinhood has been piggybacking on softbank. this is a strange conversation to have. but i do find it fascinating, if it is true. tit is interesting because softbank, in some ways, you could argue is also responsible for the exuberance in silicon valley as well. it's kind of view was you scale fast, throw money at the start ups scale them really quickly, and that may have led to a mispricing of some of these businesses. and that, at a private level, may be they are doing the same thing at a public level here. alix: and what do you do? guy: maybe they expire in the wrong place. the ftse 100, down, not as much as u.s. equity markets are. european banks are getting a bid.

nasdaq futures under pressure.s after on friday we saw the s&p 500 down fo 4.3% for the past two sessions. to look at the volatility and if there's any value to be had, hilary kramer, cio of kramer capital research. i have the chart on our terminal for the viewers demonstrating the s&p and nasdaq of late. it could be looking to test its 50 day moving average which could see bidding getting fiercer. do you see a risk of market collection? hilary: absolutely. the market still has so much more to deflate. when one compares the performance in terms of returns of nasdaq, let's say, versus russell 2000 value is down 17.5%. down 17.5% on the year. there is just so much room for a rotation to take place. because of the nature of this tech rally that we have , august 2020ere and the deflation of the past two days, it has been such pain for individual investors. they are the ones that really have this going. they were in the options market. they were buying up on margin and there is so much more room for it to go down. apple

the nasdaq did bounce back yesterday. up nearly 3% for its best day since april. 85 nasdaq 100 stocks finished higher on wednesday. le led by gains in zoom and tesla. tesla coming off its worst trading day ever those stocks fractionally down around the world, asia mostly higher after a rough day there european markets are just getting started. julianna tatelbaum is standing by with more and some headlines. good morning >> brian, good morning it looked like we were in for a positive session at the start of trade today but things have turned negative. we are looking at red across the board in europe. yesterday, we did see a rebound as the stoxx 600 jumped yesterday reflecting broad-based, strong gains. a little retreat you've got the ftse 100 leading losses the dax down 0.1%. the big event, the european central bank meeting to get under way in a few hours no policy change expected at the meeting. it would be interesting to see how the central bank talks about the euro strength. higher very sustain the dollar by 0.25% around

the nasdaq is down 4%.s we've been mentioning throughout the show tesla is down 21%. apple down 7%. energy financials are doing badly. all 11 sectors are lower utilities and real estate the best performers. the they're down 1% themselves the s&p 500 is down 2.8% the dow down 640 points or 2.25%. red across the board tech is leading that selling at the close, cayla down nearly 5% for the nasdaq 100. >> and welcome to the closing bell i'm in for sara eisen along with wilfred frost and mike santoli, senior markets commentator with us as well the dow, s&p 500 and nasdaq all sliding to day the dow down 632 points. 2.25%. the s&p 500 down 59 points close to 3%. the nasdaq leading the selling down 465 points. more than 4% the nasdaq 100 down 5% the russell 2,000 which has been selling even as the rest of the broader market has been up is selling again today as well. down 30 points or 2% for that average. investors now turning their attention to earnings from louisiana lemon and slack which will happen this hour. w

closing at record highs nasdaq topping 12,000 for the first time.ng us galaxy digital ceo and founder mike novogratz good to see you as always. we continue to march higher and higher on the broader equity markets, something that surprised you. you've made money in other assets rather than these tech stocks do you get tempted to stop buying them at any point >> we are close to the end of what i figure is a speculative frenzy you look at the price of tesla the last couple of days. you go back to 1999, qualcomm, bellwether stock of the internet qualcomm had a split, next day exploded up like tesla, that marked qualcomm for the cycle. we put the high on tesla for the whole cycle, we'll slowly unwind some of this crazy leverage. what's interesting is this bull market is not giving up. like a bull with a bit between its teeth climbing up a muddy hill and keeps charging and other things falling out we had a big correction bitcoin, other risk assets but money seems to be rotating from one asset to another in u.s. equities and european eck. certainly the bul

i think the dow will outperform the nasdaq for a little bit of time. nasdaq is not done yet.n. stuart: that is very interesting, gary. earlier this morning on this show, brian wesbury, market predictor, he said, look 32,000 on the dow by the end of the year. let him say it in his own words. rolled tape. >> donald trump will win convincingly enough to not have a contested election on november 3rd. so i do think we will get there but i'm also optimistic about president trump getting a second term and not interrupting the policies that we've seen. stuart: gary, what do you make of 32,000 on the dow by the end of the year? >> you mean not 32,000 and 1? i think we're going higher. i think we're going much higher. markets have momentum right now off of massive central bank intervention. i've been calling for the meltup two or three months. it continues. we'll play catchup. i would not be surprised if we go to 35,000 on the dow. not just 32,000. stuart: whoa. any advance on 35,000 he asks? >> i'm not a guy who gives targets but i know how things work in markets. i understand fear an

global stocks fall and nasdaq futures continue to slide.hat's as the rotation away from rotations gain steam among valuations. let's get to the conversation with laura cooper. laura, good morning. have you worked out what it is the text selloff of yesterday tells us? there are many theories as to how specific this is to tech, how much of this tells us about the vulnerability of stocks overall. what is your assessment? laura: ultimately, what it tells us is there is no obvious count -- catalyst for the selloff. there were some laura sign warning signs that it was warranted. -- warning signs the it was warranted. it could have been some profit taking ahead of the payroll print today, or just investors not wanting to carry risk into the long weekend. but the selloff is largely concentrated in u.s. tech. i think it tells us there was some neat to skim some froth off these valuations. ultimately, i don't see this as a sustained rush for the exits, notably not just in tech, but more broadly within this global risk on environment likely to prevail

thaur 50/50 up versus down and more stocks down on the nasdaq a whole lot less on the nasdaq the top of the nasdaq. you look at new highs versus new lows, you actually have more new 52-week lows on the nasdaq than new highs. both relatively small numbers. note worthy you have a little bit of an undertow of weakness even as the nasdaq rallies one of the clues yesterday being a decent buy is the vix was not up as much as the market was down you are leasing some of that premium. we have a 34% decline in this market a few months ago. that is not going to be shaken off immediately. >> just under one minute left of the session. we're up 1% on the s&p 500 .5% on the dow and 1.7% on the nasdaq the dow higher up 180 points currently up 143 points as we stand. st you got a little gain in oil up 0.6%. a little softness in gold. the dollar higher again. continuing its recent march higher particularly weakness in the euro and the pound as virus cases spike there. dlart up by 0.3% sector performance on the s&p 500, that sector is up 3%. that is largely because amazon is up 6% today communication s

the nasdaq is a good deal worse.t as much of a washout below the surface. much like the raily which is narrow and concentrated in some of the cult momentum glamour names. the pullback is most concentrated in that area. take a look, too, at some of the sector moves we have as well high yield we're seeing a little stress in credit treasuries are rallying. it's not bad on a week today basis. its not like it's broad financial stress here is both of them both to the s&p 500 vix as well as the vxn, the nasdaq version of it. it shows that buying panic options in the measures as well. >> mike, thanks so much for that we have 40 seconds left of the session. we're down 4.9% on the nasdaq composite. the s&p 500 is down 3.5% it was down over 1,000 points briefly at the low all 11 sectors are in the red as we speak tech the worst as we've been saying down 5.7% energy the best only down 0.7% will seeing a slightly soft gold price as well. >> it's in the equity market more than anywhere else. they're down 600 points or nearly 5%. t

in august andos nasdaq.g an explosion across health care, special purpose acquisition company's, and other tech companies are getting into the game. it is a wild ride. emily: what are the next week's looking like for you? jeff: we have a busy lineup. one of the big ones coming up is goodrx. we have a lot of other big companies. we have news sponsors forming. interestingly, we are seeing a lot of great business combinations. valentine announced they will be doing an acquisition and listing on nasdaq. emily: now, you compete with the new york stock exchange for listings. they've got snowflake, volunteer in the next couple of weeks. talk to us about the state of that competition. how big a deal is it when you lose a company that big? jeff: we compete seriously with every listing. we have won over 85% of all companies. when it comes to competition for listing, it is not just the ipo. we've had a number of great eurig, dr pepper announcing a transfer. that is over $180 billion of market cap that will move their l

looking at the nasdaq futures.er yesterday's 1% selloff next guest says 10,900 is the important level to watch the director of services and contributor. thank you for joining us >> thank you for having me >> you see the support level closed just above that yesterday. what happens if it falls below that >> i think that's where it could get a little ugly. it just represents the sentiment saying is what jay powell said enough to keep this game going where the dollar is weak and stocks are strong the decision will be if it breaks below there. you look and the level of the dollar is 9,200. yesterday, the dollar spiked too. he was playing dovish. there are only certain amount of ways you can play in if it falls below that mark, what does that say about the broader economy? >> you've mentioned that the russell has done okay too. i'd like to say the rotation trade going on too the nasdaq is falling, the russell is falling amazon and others leading. selling can bee get selling and then there is a little bit of a panic. righ

the dow is up 1.4% of nasdaq up 2.3%.othing to sniff out pretty close to those session highs all sectors are higher on the s&p 500. tech leads the charge. it's up 2.5% that is the territory for the day. also the bottom for the week down 8.5% for the week the finances follow suit the second worst perform being sector for the week. banks are down nearly 7% for the week other standouts for the day in the week, the dollar continues its climb higher up 0.3% today. 1.8% for the week as a whole gold in the opposite direction down .5% down nearly 5% for the week as a whole. zblr nasdaq is up 2.2%, kayla. >> and welcome to the "closing bell." i'm in for sara eisen and wilfred frost will join us mike santoli joins us. the s&p 500 is up 51 or 1.6% the nasdaq, the best performing index today. h up 231 or 2.25% the dow and s&p 500 are still negative for the week. the nasdaq is positive leading the dow today, goldman sachs. and leading the s&p 500 and the nasdaq composite is microsoft. both the dow and s&p 500 posting their fourth stra

the nasdaq is down even more. stoxx 600 down by 6/10 of 1%. 1834,ro-dollar is at 100 stabilizing at this point. the euro has been down and pushing back. the lira is that a fresh record low against the dollar. just off a fresh record low. alix: a lot of activity in the u.s. is a steep selloff in tech. scarlet fu, walk us through the nuts and bolts. scarlett: we are off the worst levels of the session before the nasdaq it's the biggest drop since june 11. no specific catalyst. the jobless claims report was not encouraging, but this is a long time coming. people saying equities were not extended, especially those in the growth sectors and specifically mecca cap names. looking at the different indexes within the nasdaq 100, 80 9% of the members are lower. are down.m within the s&p 500, 62%. then you get to the dow average. 57% of the members are lower and within the valley, only half the members are down. they give you the sense of the rotation taking place or perhaps some of the air coming out of the balloon when it

the nasdaq is the concern. big tech is not only the story but the stocks that control everything they are looking to open lower tesla down 17% ulta beauty some of the big decliners. back after this. >> never mind, we are back after my short break in screwing up there. going to trending. twitterer is considering a feature that will surely get you talking. >> my toss to break might be trending as well don't act like you've never falsely tossed to break. sit tight. >> brian, this could get really good really bad twitter will test a feature to test voice dm. a report message option available if anyone attempts to misuse the feature of course that will never happen >> another big block buster just got delayed. the release of highly anticipated moves. black widow delayed. westside story and murder mystery, death on the nile halloween celebrations may be up in the air but that doesn't mean we cannot consume candy. chocolate sales alone up 25% early displays of candy in retail chains and increased anxiety. >> a call to

the nasdaq is in ominous company. >> we had coming off the highs, a three-day decline and nasdaq 100 of minus 8% after hitting a 52-week high we have only seen that set up five other times back in 1985. three were in early 2000 one was in november of '07 and one was in february of 2020. i think what's notable those are some ominous dates i think if we had to draw any type of analogy, it would be the 2000 time frame. in fact, this is what is lost on a lot of people, from march of 2000 through the end of the year, there were four sectors that were up 40% take it step further there's an index that's a reverse cap weight index where the smallest kp companies in the s&p is given the most weight. there's some extreme analogies that are very analogous to some bubble-like periods. that doesn't mean the overall market has to be a concern some of the names like the coffee names, dunkin bucks starbucks, mcdonald's, the home builders >> you're not suggesting the nasdaq couldn't have more room to go to the downside. throw out some ominous dates it's like five dates and everybody knows what happen

nasdaq is down 260 points.e hot stock investors are looking at this morning. plugs, novak djokovic, punished for hitting a line judge, the massive fine for the world's top tennis player. we'll be back right after the break. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ ♪ you can go your own way ♪ go your own way your wireless. your rules. only xfinity mobile lets you choose shared data, unlimited or a mix of each. and switch anytime so you only pay for the data you need. switch and save $400 a year on your wireless bill. plus, get $400 off when you buy the new samsung galaxy note20 ultra 5g. maria: welcome back. time for th

a weakness in technology stocks was taking that nasdaq in negative territory by one point. one place that was not negative within the nasdaq is the computer industry, semiconductors vaneck vectors is up 2.5%. they continue to outff nvidia and others hoping to drive that trade today. talk about these momentum names. apple, tesla, zoom video you can see all of these fairly deeply in the red. apple is gaining some ground here all of these are off the lows of the session. still, they've been real outperformers as of late, still in many cases considered overbought by certain measures, but we'll watch to see if those momentum trades continue to move to the downside. that will be something key to watch there, kelly and for that -- >> you're a market guru and you need to step aside for a minute. >> i'll be socially acceptable >> we were talking about what dom was just outlining in a couple stocks today, but there are some parallels for the whole market that hearken back to 2018 here's s&p year to date. the purple line is the 200-day moving average notice what this is here that is a

probably about 5% yesterday for the nasdaq. really the stocks that were most hurt are some of these new economy concept type names is what barclays calls them, stocks like zoom and tesla down nearly 9% and 10%, respectively. it shows you perhaps some of the fears of the robinhood crowd, very high valuations are what caused this selloff. if we look at this next chart, where is the money going? it is not going to havens pete i have the 10-year yield here in white, and you can see it has barely moved. again, this is not a broad risk-off event, because we are not getting to the 10-year, to gold, to the yen really. instead, it is those concentrated names in tech leaving on the way down, francine. francine: thank you so much. dani burger with the latest. the next big thing investors will be looking at is of course today's jobs report. bloomberg says payroll gains will continue but at a slower pace. million workers. joining us as alberto gallo, portfolio manager at algebris. alberto, how much will be data give us a path forward? alber

melissa: carol i think i said nasdaq. i had nasdaq on the brain, i meant the s&p. you know what i meant. what do you think about this move, do you think this stock is grossly overvalued where it is? >> i think this is a cult of personality stock. while i applaud tesla for doing the things that it has done, we all left it for dead, not too long ago and it has come roaring back, it is really all about elon musk. unfortunately from a governance standpoint, that is not necessarily a great thing. i think that is part of why the s&p committee decided to leave it out and it is not just the type of stock i like to own. i think it is too impossible to value. there are a lot of fan investors so to speak. they are investing in it because they believe specifically in elon musk. i just think he is too much of a wild card for it to be a meaningful investment for something like me who is more of a long term investor instead of a trader. melissa: i completely agree with you. that is why i think they left it out as well. interesting to see how those things work. carol and gary, tha

. >> we hut the highs ahead for nasdaq and tesla the psychology has to change. it is slow to change people have made a lot of money in the dip >> let's bring in our first guest, global head of equities great to have you with us on such a big weak for equity markets. the tech selloff continuing yesterday sharply. the nasdaq down 4% the session or is this going to lead to more of a blip. >> thank you for having me this had been driven by technology and the driving force in this rally. what we've seen coming down to humanity we've seen significant decoupling on the underlying fundamentals and i think it is a healthy correction >> you made an considering point that there are three cycles to watch. the virus, the economy and markets. how would you describe the relationship between the three >> so i think we have a situation at the moment where we have unprecedented uncertainty we have a situation where the virus is what started all of this this is having significant impact on the economy. we have the financial market that is forward looking. what we are seeing is the

the s&p higher by 32 and the nasdaq by 127. the key index to be watching over the last several months now this after the s&p posted it's worst week since late june and coming off the first two week losing streak since may but the focus remains on technology. closing down more than 4% since the worst performance since the weekending march 20th and the first two week losing streak since july the nasdaq is now down more than 10% from the most recent 52 week high it was also a record by the way. a number of key events in the week ahead for the markets and your money they include a very big day tomorrow and a few fomc -- a new fomc meeting kicks off and apple hosts it's latest product unveil event with new ipads and watches most likely and tomorrow is the president's set deadline for tiktok to make a deal. a number of data releases including retail sales and housing starts and the earnings continue to trickle in with lennar, fedex and adobe as well. asia is coming off a mostly higher session the action getting started in europe as w

the nasdaq down 255, the nasdaq the worst performer. take a look at this intraday start. we got a jump as the jobs showed a jump ever since then it's been a steep slide into negative territory with a little comeback in the last hour or so the nasdaq, we started out with highs of 733-point gain after yesterday's master selloff you can barely see a blip over there. now the lows here, we're down 580 points we have come off that quite a ways, but the charts have noted the damage, shall we say let's get more on where the weakness is and what's been driving the volatility this week with bob pisani. bob? >> the important thing is, we had this happen yesterday, remember sharps dropped within an hour and a half within the open, then we basically stabilized around 11:00 eastern time and tried rallying the difference between today and yesterday, yesterday we really started falling apart right about now. so keep an eye on that we're off our lows but still a lot of damage. it's momentum driven again there are pockets of strength in the market, but take a look at the big faang names, o

touching new lows moments ago on nasdaq features. jonathan: nasdaq features down more than 1020%. we are still up on the year by more than 30%. some of these companies are performing well for a good reason. they have done fantastic through 2020. really strong transformational forces accelerated by the pandemic. it is about the price of the story, what price are you willing to pay. am: what an odd market to see 10 year yield in three basis

s&p implied higher by 30 points and nasdaq by 156. that bull run continues for u.s.tocks this is all after the markets kicked off september led by a high note and what else, technology stocks. the dow adding 214 points. now 3% off its record high that number 29,568 you can see now, 28,645 is where the market closed. the s&p 500 hitting a new all-time high. the gain is about three quarters of one percent the best day since 2010. also hitting another all-time high, the nasdaq moving closer to that 12,000 mark you can see 11,939 is where we closed yesterday looking at the bond market 10-year yields around .69% two-year note yields .137% and 30-year at 1.378%. going to julianna tatelbaum with a look at global markets it seems to me very green in europe as well >> it is, dom. that's a change from what we've seen after four days of losses in a row. taking up the positive queue from what we had state side. currently trading about 2% higher it is a sea of green nearly every stock is up every single sector is participating in the rally the banks were in the red and underperfo

amd and alphabet rounding out some of those big decliners today on the nasdaq. lot of them beginning with a, sara. >> yeah. docusign and zoom video still going strong not as, definitely work from home plays johnson & johnson meanwhile announcing its coronavirus vaccine candidate is entering phase three trials it's the fourth vaccine to enter late stage trials and the first that protects with one shot. bernstein out with a note saying they expect earliest approvals of the sarah, to occur in the second war of next year. pfizer, biotech and moderna. joining us senior analyst with bernstein. first, big props to you guys at bernstein for doing a ton of work when it comes to the data on vaccines and treatments you analyze everything and all time lines we need an hour for this interview. first tell us about the time line, second quarter of next year sounds a lot later than what a lot of people are talking about? >> yeah, this is before approval we expect emergency use authorization somewhere in late november to december that will hope the grounds for vaccination. these