he is chief investment strategist of emea & apac, northern trust asset management.fiscal will there aid, but the proposals are still far apart. $900 billion to be exact. stimulus.lk u.s. volatile session yesterday on wall street. the s&p 500 is flat on the year. futures in the green across-the-board. msci asia a little positive, but not much going on this friday morning. stay with us. this is bloomberg. ♪ annmarie: from bloomberg's european headquarters, this is daybreak europe. a trillion dollars apart. u.s. democrats stressing new $2.4 trillion stimulus bill. mnuchin says he is ready to talk. stocks climb after a volatile session. the gop pushes back on trump threats to defy the election results. markets are overestimating the result of a possible -- the possibility of a result delay. the french chancellor warns of an employment tragedy despite extra support. good friday morning. let's take a look at were betrayed this morning. are in the green this morning. bloomberg dollar index is higher this morning -- sorry, lower this morning but higher on the week, the bigg

he's from northern trust asset management.oming up, from strength to strength, ipo's in china and hong kong have had a solid year despite the pandemic. more on that. this is bloomberg. ♪ manus: this is "bloomberg daybreak: europe." i manus cranny in dubai. annmarie hordern alongside me in london. the mood music would be the key at today's ecb decision. on holds likely to stay but officials will have to confront a slowdown in the euro area's recovery as well as stronger euro currency. it has gained yesterday after sources told bloomberg that policymakers have become more confident. potentially reducing the need for more stimulus. madness, since march the ecb's bond buying has averaged 22 billion euros a week under the pandemic emergency purchase program. analysis by bloomberg economics expects purchases to keep this pace until you end of the year before decrease in the first half of 2021. president lagarde will be quizzed in her news conference on market expectations. from northernboom trust asset management is still with us. s

northern trust. wealth management. biden campaign on the road to the white house. ♪ ♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ and geico loves helping riders get to where they're going, so to help even more, geico is giving new and current customers a fifteen percent credit on their motorcycle policies with the geico giveback. and because we're committed for the long haul, the credit lasts your full policy term. the geico giveback. helping riders focus on the road ahead. the geico giveback. i don't really believe there's a lot of opportunities that i would ever been able to have, starting at 16 as a cashier, and walmart gives you that opportunity. ♪ ♪ when i first started off, i was someone who didn't believe in themself. i went from being in a shell, to being outspoken, to being proud, to being knowledgeable. it made me who i am today. 20 years ago, i was an hourly associate cart

northern trust. wealth management. northern trust.u're a small bor 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. ♪. neil: all right, as stocks stand right now they're looking at biggest tumble in three months. the dow down 740 points. almost anything connected to technology is down and down a lot. we should point out that the s&p technology sector has had 11 straight up days in a row. that's a rarity. so some giveback is is in order, with that giveback, it is up appreciably, with apple down 8% as we speak. the bigger perspective, the stock essentially doubled on the year, when you include the stock split and everything else. jpmorgan chase, bank of america, they're up. they got a

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northern trust. wealth management. northern trust. so you're a small bor a big one.ving, 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. ♪. charles: days after damaging the business of a san francisco salon owner by claiming a setup, nancy pelosi taking to twitter to thank the american worker. over generations working people across america built the middle class and secured progress for hard-working families. house democrats are unified in our commitment to america's working families. well, i can tell you right now this is not sitting well after the speaker was caught on camera inside after salon that was supposed to be only open for outside styling. salon owner erica kias is denying the allegations that she set up the hoist speaker. my neck g

northern trust. wealth management.wn 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. david: the markets are pretty well leveled off at a very negative rate as you can see the nasdaq has improved a tiny bit for 2.5% down, it's down 2.83%, the s&p 500 is down about 1.5% and the dow is down about one and a quarter, little less than that. it's a very down day and it follows to other down days in the markets, this may be the pullback that a lot of investors have been expecting thinking it will level off and perhaps even climb again but is is a bad tuesday on the market after a long holiday weekend. west virginia university suspended in-person classes for undergraduate amid concerns about a recent spike in coronavirus cases. fox business correspondent grady trimble has the details. >> wer

northern trust. wealth management. northern trust. engineer, and i'm part of the team building the most powerful 5g experience for america. it's 5g ultra wideband, and it's already available in parts of select cities. like los angeles and in new york city. and it's rolling out in cities around the country. with massive capacity, it's like an eight lane highway compared to a two lane dirt road. 25x faster than today's 4g networks. in fact, it's the fastest 5g in the world. from the network more people rely on. this is 5g built right. only on verizon. >>> welcome back all of us are used to knowing the winner of the presidential election on election night or sometimes the wee hours of the morning, 2000 an exception of course but people who follow congressional races are more accustomed to waiting a few days to finds out this year with the rise in mail-in voting those places may offer a cautionary tale. take the u.s. senate race in 2018 in arizona between martha mcsally and kyrsten sinema when most of us went to bed, mcsally was in the le

and northern trust delivers more. with specialized expertise.tegies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. a lot goes through your mind. how long will this last? am i prepared for this? are we prepared for this? with fidelity wealth management, your dedicated adviser can give you straightforward advice and tailored recommendations, with access to tax-smart investment strategies designed to help you keep more of what you've earned so you'll know you're doing what you can for your family and your future. that's the clarity you get with fidelity wealth management. >>> good afternoon, every one at 2:00 p.m. in the east. we start with the major sell off on wall street welcome to "power lunch. stocks near the lows of the session. stocks down 800 points more than 3% earlier today now 2.76 the nasdaq off a whooping 5% or so down just about 5% or nearly 600

and northern trust delivers more. with specialized expertise.tegies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. for skin as alive as you are... don't settle for silver ♪ gold bond champion your skin >>> one question is which trends will last into the fall and wind price targets are being boosted for peloton, even as gyms reopen, demand for their products will remain strong. it call 11 price bumps, as shares have rallied more than 200% this years. let's discuss this name. our "trading nation" team. danielle, i'll start with you can peloton continue t absoluten number one peloton is the leader in the space one of the main issues that people have with peloton is the price point. well, you can pay per month. they also have lower-priced products and we have continued evidence that people are continuing to cancel their gym memberships. for me i'm incorrectly b

for now and whatever's next northern trust wealth management. at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. a lot goes through your mind. with fidelity wealth management, your dedicated adviser can give you straightforward advice and tailored recommendations. that's the clarity you get with fidelity wealth management. >>> welcome back to power lunch. walmart ripping higher after announcing the launch of its membership program the stock up nearly 13% over the past week after the company also said it was teaming up with microsoft to buy the u.s. operations of chinese social media platform tiktok. those gains for walmart stills pales in comparison of amazon which is up 90% this year. which company is a better bet? a lot of debate. what d

for now and whatever's next northern trust wealth management.: joe biden laying out a tax plan that he says will help bring jobs back to america and keep them here. jackie deangelis is live with the details. jackie. reporter: good afternoon, charles. well, that's right, joe biden speaking in michigan today. remember it is the manufacturing heart of america. he is talking about corporate taxes within the context of jobs coming home. listen to him. >> he promised that his administration would enforce every last buy in america provision on behalf of the american people. what makes his wild claims and hopes, he now hopes we don't notice what he said. reporter: okay, so biden wants to roll back the trump administration's corporate tax cuts to bring the rate back to 28%. but he also wants to impose a 10% offshoring penalty. this is where the jobs come in. which means if a company takes jobs out of the country it pay as penalty. a corporation could pay as much as 38.4%. he counters that with a tax credit if the company brings jobs home. there will be e

northern trust. wealth management. northern trust. so you're a small bor 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. >> take a quick check on facebook. it's down about a percentage point and we now know they will block new political ads on their site the week before the election. that's a week when they usually bring a lot of revenue as a result of these political ads particularly so in 2016. let's bring in john mace, ceo of parlor, a popular new social media site that prides itself on free speech and zero censorship. john, i would think it's a great opportunity for you. there's a lot of political money on social media and it won't have any place to go except parlor the week before the election >> yeah, thank y

for now and whatever's next northern trust wealth management.azon. climate change is the fight of our generation. the biggest obstacle right now is that we're running out of time. amazon now has a goal to be net zero carbon by 2040. we don't really know exactly how we are going to get there. it's going to be pretty hard. but one way or another we're going to reduce our carbon footprint to net zero. i want my son to know that i tried my hardest to make things better for his generation. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. cheryl: let's take a look at amc entertainment. the stock is up about 15.5% right now after they announced that they're going to have a total of 420 theaters open this weekend, a full 70% of their locations. big news, it's going to be reopening locations in california for the first time since the lockdown. a different story, though, for the airline industry. aaa projecting a nearly 74% year ove

and northern trust delivers more. with specialized expertise.strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. >>> good afternoon welcome to "power lunch. glad you could join us on a friday afternoon stocks giving up an early rally. all the major averages in the red even if just by a smidge for the dow industrials. nasdaq leading the declines down more than a percent. the dow and s&p now on track for their worst week since june. the nasdaq, its worst since march. retail wreckag

for now and whatever's next northern trust wealth management.ome on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ essential for sewing, but maybe not we've just been finding a way to keeneedles.hing. for people with certain inflammatory conditions. because there are options. like an "unjection™". xeljanz. the first and only pill of its kind that treats moderate to sevepsoriatic arthritis, or moderate to severe ulcerative colitis when other medicines have not helped enough. xeljanz can lower your ability to fight infections. before and during treatment, your doctor should check for infections, like tb and do blood tests. tell your doctor if you've had hepatitis b or c, have flu-like symptoms, or are prone to infections. serious, sometimes fatal infections, cancers including lymphoma, and blood clots have happened. taking a higher than recommended dose of xeljanz for ra may increase risk of death. tears in the stomach or i

for now and whatever's next northern trust wealth management. manager in san diego, california. we were one of the first stations to pilot a fleet of electric vehicles. we're striving to deliver a package with zero emissions into the air. i feel really proud of the impact that has on the environment. we have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future. cheryl: the markets kicking off september on a high note. right now, as you can see, the dow is up 130 points. right now, if we hold at these levels, the dow will be back in positive territory for 2020. the s&p 500 and the nasdaq hitting new all-time highs. you know what's interesting, typically september is the worst month for the major averages every year. this isn't a regular year, though. usually the dow and s&p both drop about 1% during september. the nasdaq on average falls about maybe half a percent. but over the last three years, the dow and s&p both gained during the month after seeing the best august for the dow sin

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and northern trust delivers more. with specialized expertise.ooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. i'm a delivery operations manager in san diego, california. we were one of the first stations to pilot a fleet of electric vehicles. we're striving to deliver a package with zero emissions into the air. i feel really proud of the impact that has on the environment. we have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future. lookentertainmentour experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnific

[closing bell rings] liz: katy nixon of northern trust. thanks to phil flynn and sean o'hara. at correction territory down 470. pretty ugly day. third day in a row of selloffs here. that will do it for "the claman countdown." melissa: big tech slammed on wall street. the major averages plunging, closing near the lows of the day. the dow, s&p down more than 2%. nasdaq down about 4%, seeing the biggest three-day decline since march. it looks like right here at the close we're entering into correction territory on that one. it has been down more than 462 points. to be down 10% from its record close. that it hit just last week. already that number would put it in correction territory. what a monday. i'm melissa francis. connell. connell: what a monday indeed. i'm connell mcshane

northern trust.n says more than 1 million movie goers are headed to the domestic dealers that's still well below earlier levels, obviously. a welcome rebound after it shut down all of its theaters in march. joining us is adam aaron, amc entertainment president and ceo. "tenent," pretty good opening. it was good to have that content, i guess, adam but that adds to the problems that there's not going to be a lot of big content because it's hard to make a movie now, too. it's like a perfect storm. >> let's start with the last segment. amc, go chiefs tonight back to amc. we're just so encouraged we only opened our first 100 theaters in the united states three weeks ago. we're about 75% open for this coming weekend and already a million moviegoers have come t our theaters they've seen firsthand the safety protocols that we've put in place in consultation with clorox and the harvard university school of public health our theater cleanliness scores are the best they've been in decades. i think you can eat o

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northern trust. wealth management. northern trust. (music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. >>> sales at rh, very high gary friedman is surprised by howquickly people shifted lives, buying new houses, leaving cities, spending more time at home and redecorating. he'll be on "mad money" tonight. and webbush add bed bath & beyond to the trades list. the company turned the corner to positive comp store sales and ending on the cusp of a dramatic improvement in profitability shares up a little more than 5%. pretty glowing note including saying that they're getting their online act together even though many on wall street have written off this company for dead it's been a pretty bearish stock over the last few years. they were struggling into the crisis and out of the crisis and now perhaps the tud is turning according to webbush and the other analysts too >> a little bit of green chutes t

that's why northern trust is here. with specialized expertise... of success through every economic climate... and proven strategies rooted in data and analytics. giving you more control. clarity. and confidence. for now and whatever's next northern trust wealth management. come on in, we're open. all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ ident trump declares this election is about "law & order." >> biden's plan is to appease the domestic terrorists and my plan is to arrest them and prosecute them. >> bret: we will ask our sunday panel how both candidates hey, my twitter is blowing up! dear jack box, bring back the spicy chicken strips, still waiting for the spicy chicken strips, so many about spicy chicken strips. wow, i hear you. so i'm bringing back my juicy 100% all-white meat spicy chicken strips combo for only $5.99! all-white meat spicy chicken strips combo where you can find games, news and highlights. all in one place, right on y

for now and whatever's next northern trust wealth management. in california the wildfires are reading they've have taken ten lives and 3 million acres destroyed in one particular blaze scorched over 470,000 acres in northern california. the fires are hitting oregon and satellite image on your screen showed two towns almost complete wiped out. 500,000 residents have been evacuated. our next guest has an opinion piece which slams california energy disaster saying remember this, the disaster in california when you go to the polls in november. senator kevin cramer wrote it either north dakota republican and he joined does not prove what you mean senator about that energy disaster when you vote in november. >> my point, i was an energy regulator before i became a member of congress, i see this coming for a couple of decades and talking about specifically we have a pricing scheme that is so distorted by government subsidies, tax policy and on top of that we are mandated to prohibit electricity and one of the things california is suffering from an addit

marie: northern trust asset management has been involved in these dialogues.the recovery fund, for example, the goal of the recovery fund is for climate neutrality, digital transformation and social and employment support. this very much aligns with how to get green recovery. it aligns with climate law. so, getting a net zero greenhouse gas emissions by 2050. and it also aligns with the green deal. an action plan around the blueprint of how do we achieve that. the challenge is though, with any recovery program, as you know, it has been hard-hit because of the economic slowdown and the health crisis. and the contribution budget. no matter how they go about evolving that, they are still going to need to prioritize climate change and the digital effort around it. clearly, technology is the way forward as we are talking here today. matt: yeah, absolutely. where did you think we are going to see the biggest surprises? do you think that the markets got some things wrong that are going to show themselves to be, to be, you know, where we will have to do a 180 in five

northern trust. wealth management.ium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached. maria: welcome back never a better time to take out he a mortgage 30, year fixed morning braits falling to 2.86% ninth record lot of 2020 homebuilding% after i surging during covid shutdown founder chairm chairman. >> corporation we have talked about night out of high-techs, cities have not talked what is going on in real estate let me ask you about housing markets, and this hot stream, with rates where they were do you think this is is sustained will this sustain? >> absolutely, because the fed has indicated they are going to keep rates as close to zero as possible, in the foreseeable future going to continue to dry activity plus there is an active flight to qualit

shery: coming up, we will speak with the northern trust cio bob brown about what will drive markets in. will be also speaking said the ceo of a luxury watch brand. telling us about unexpected cells bump. will have plenty -- unexcited sales bump. we'll have plenty more ahead on daybreak asia. this is bloomberg. ♪ give you my 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. shery: welcome to "daybreak asia ." i am shery ahn in new york. haidi: i am haidi stroud-watts in sydney. our top stories this hour, asian stocks look set to resume declines after heavy losses on wall street. the selloff gathering momentum with tesla suffering its worst ever rout. astrazeneca putting its vaccine trial on hold. the drugmaker

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and northern trust delivers more. with specialized expertise.s borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. tools, cattle, grain, traded goods. northern trust. even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale. dagen: beach bummer vacations a thing of the past for many during the pandemic, big tech now looking to change all that. lauren simonetti explains how big technology companies are helping people get away safely. hey, lauren. >> it's hard to do, dagen but it's possible. let's write 2020 off as the year of the road trip and 2021, that could be the year

etf holdings based on esg, all of these factors are really driving the flows into esg, and as northern trustlyn early 20 connie -- 2020, we expect this decade to be the esg decade. francine: thank you for all of the insight. let's discuss some of the threats to growth and opportunities for expansion of europe's etf market. the with us, wei li from blackrock. when you look at this report saying active managers are coming for a quarter of etf's portfolios, is that really the case? is that something you're looking at? i would say there is not a clear distinction between the active part of the portfolio and the etf part of the portfolio. measures are being very active now asset allocation and you talked about the turnaround, active beingsg and looked into as part of that as well. more recently blackrock launched a multi-asset esg etf's and it very much is a allocation piece within the record itself. that in itself is another innovation that brings you angles that investors are opting for in a neat package. i would say the line between access and etf's are increasingly blurred. they are looking i

northern trust. wealth management. northern trust. ♪ ♪ ♪ the big events are back.ion of line judge hitting her in the throat the top tennis player fine adquarter million dollars in prize money, 10,000 dollars for unsportsman-like behavior even more punishments could be on the way here dagen mcdowell your reaction. dagen: i think this was over reaction to suspend him from tournament kick him out if you want to pine him one thing anybody watching that match went back watched that video knew it was an accident. that being said, this line judge has been getting death threats apparently, novak djokovic has said stop that, he has been, very levelheaded in response certainly on twitter i think back to the well days of mcenroe we used to tolerate great deal more i don't think he ever hit anybody with a ball but nevertheless this is over reaction, it hurts the tournament. >> brian what do you think? >> i think djokovic handled it pretty we'll after i know didn't talk to press i don't think a big deal i am surprised they threw him out i know there is precedent for it don't t

that's why northern trust is here. with specialized expertise... a history of success through every economic climate... and proven strategies rooted in data and analytics. giving you more control. clarity. and confidence. for now and whatever's next northern trust wealth management. >>> stocks with a massive come back the dow was down more than 600 points at the lows joining us via phone is the manager of black rock allocation fund great to you have with us. thank you for joining us i start the same question i did with dan niles, what do you think triggered this pullback? >> the short answer is i have absolutely no idea it's always easy to invent the causes we can talk about season alt and stock splits the simple reality is the market had an enormous run. that run accelerated in august you had a lot of crowding in the position a lot of that was in option form retail investors piled into the momentum names that caused dislocation. so the short answer is i think the market was likely to pull back off the overbought condition. the fact it happened yes

talk about it is the chief investment officer at center stone investors, and jim mcdonald at northern trust i think the question shaping up is whether the economic data, if goldman is right are confirming what the stock market has been telling us the past couple months. >> yeah, from the bottom up, anyway, you're starting to see often signs of recovery. the quick mark continues to be what happens in the fall with the potential flu season, but as long as the trend lines are moving in the right direction, we're happy with that. >> happy, but at the same time people will say, well, okay, great, but the stock market will still tell us where we're going from here. there's still a disparity whether you stick with the stay-at-home trade or pivot. what would your advice be? >> almost every time the incumbent loses power, the stock market goes down in anticipation of that. so the next -- i think investors are just now starting to pay attention to the he a elects i wouldn't be surprised if there's continued volatility through the election long term, you know, i would be more -- i favor more of the ol

and northern trust delivers more. with specialized expertise. proven strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. i'm a delivery operations manager in san diego, california. we've had a ton of obstacles in finding ways to be more sustainable for a big company. we were one of the first stations to pilot a fleet of zero emissions electric vehicles. the amazon vans have a decal that says, "shipment zero." we're striving to deliver a package with zero emissions in to the air. i feel really proud of the impact that has on the environment. but we're always striving to be better. i love being outdoors, running in nature. we have two daughters. i want to do everything i can to protect the environment to make sure they see the same beauty i've seen in nature. my goal is to lead projects that affect the world. i know that to be great requires hard work.

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northern trust.t with a new launch, the galaxy z fold 2 flip phone. this is samsung's second iteration of the fold phone with a glass screen and stronger hinge. last year we tested out the first galaxy fold phone and it broke just shortly after this video was done on closing bell for the one that they lent us. i would say our apologies to samsung for breaking that one, but it really wasn't our fault i couldn't believe last time with such crucial aspect of the folding screen working that they could bring out one that could possibly break we weren't the only one to break it too they had to withdraw the product. i can't imagine they would be doing this again unless they have absolutely tested it to the full if it works, i'd be interested in it. something smaller in your hands during the day for quick things like replying to text but still has the functionality to watch a video. i think there could be a market for this, though very expensive. >> maybe it was your big clumsy hands. i wonder how any phone

for now and whatever's next northern trust wealth management.always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading commission free today. commercial-free market zone. mike santoli to break down the crucial moment of the trading day. wealth management ceo josh brown is with us as well good afternoon to you. josh, let's kick things off with the broader market stocks rallying today, not erasing last three sessions, s&p on track for the best day since june 5th and nasdaq on track for best day since april 29th. mike, clearly a nice bounce, dow up 260 points, high of the session was 700 points do we have any idea and does it matter who the marginal buyer is stepping in? >> you certainly never know, certainly not in realtime. some indications from trading desks that definitely hedge fund

that's why northern trust is here. with specialized expertise...te... and proven strategies rooted in data and analytics. giving you more control. clarity. and confidence. for now and whatever's next northern trust wealth management. ♪ ♪ ♪ the big events are back. xfinity is your home for the return of live sports. >>> stocks closed out the worst week since june. let's take a look at future earnings forecasts and where they stack up. mike >> they're moving in the right direction f you look at analyst consensus forecast, they are ticking higher for the copping year off depressed levels and also for the third quarter. it is not usually common usually they degrade a little bit over the course of a three month reporting period so that's this in orange here. it is essentially composed of global pmis, chinese financial conditions, treasury yields, asian export groaning. of so the macro factors which historically linked up with predicting what forward earnings look like. so the actual forward earnings groaning is very weak. it is turning higher this will

and northern trust delivers more. with specialized expertise... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. >>> hey, there bonus hour of "total request fast money. jim cramer is off. we're answering questions about hot stocks you're trading right now. that's right, we want to hear from you tweet us arth@cnbcfastmoney in the queue tonight, start with the social media giant facebook under scrutiny in the land down under and over, under and beyond beyond meat had its share of highs and lows one of you want to know if there is still sizzle left in this quote unquote steak. if you had enough of feeds, we'll help you work off the excess baggage with a spin of peloton stock. let get to the question on facebook from sean on rhode island. >> good afternoon, "fast money." thank you for having me. i have a question on facebook. it's a stock you should hold long term and is it a stock with a lot o

for now and whatever's next northern trust wealth management.ws like this, 19 years after 9/11, signs of a peace agreement or at least recognizing each other's right to do business with one another between bahrain and israel cobbled together by president trump a little more than a few weeks after doing the same with united arab emirates and israel. ari fleischer joins us now. the president will be joining us in a moment with tape provided from the oval office. timing is everything and this is on a day where we are looking back at what happened then to the potential of at least easing that kind of threat in the middle east now. what do you think? >> it's such welcome news, neil. for how many decades, ever since the birth of israel in 1948 have we seen war in the middle east and now we are seeing peace breaking out between numerous arab nations now in israel. there are only four nations, arab nations that have recognized israel's right to exist. egypt went first, jordan went second, now in the span of a couple weeks, you have three and four, unite

that's why northern trust is here. with specialized expertise...ooted in data and analytics. giving you more control. clarity. and confidence. for now and whatever's next northern trust wealth management. ♪ i keep working my way back to you, babe ♪ ♪ with a burning love inside ♪ yeah i'm working my way back to you, babe ♪ ♪ and the happiness that died ♪ i let it get away servicenow. the smarter way to workflow. >>> taking stock of some of the companies that reported earnings this hour, slack down 16% despite the company breaking even on the bottom line and beating on revenues too. working from home is not accelerating as quickly has slack had hoped. lulu now down about 5% in after hours trading. >> kayla, thanks for joining us and for coming inside so we don't have the dog barking it's a shame we don't have time for you to close out the show for a song with us with your piano behind you. >> i think my 2-year-old is a little bit better at the piano than i am these days maybe next time. >> thanks for watching we're out of time. >>> i'm melissa lee an

[closing bell rings] liz: katy nixon of northern trust. thanks to phil flynn and sean o'hara. all right, nasdaq right there at correction territory down 470. pretty ugly day. third day in a row of selloffs here. that will do it for "the claman countdown." melissa: big tech slammed on wall street. the major averages plunging, closing near the lows of the day. the dow, s&p down more than 2%. nasdaq down about 4%, seeing the biggest three-day decline since march. it looks like right here at the close we're entering into correction territory on that one. it has been down more than 462 points. to be down 10% from its record close. that it hit just last week. already that number would put it in correction territory. what a monday. i'm melissa francis. connell. connell: what a monday indeed. i'm connell mcshane. well tom to "after the bell," everybody. we'll see how the nasdaq settles. it is just about at that level right now. look at big tech titans, microsoft, amazon, alphabet, facebook, apple, all those individual stocks down significantly today. apple down nearly 7%. apple's mark

for now and whatever's next northern trust wealth management.his guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. we're now into "the market zone." we're here to break down the crucial moments of the trading day. we have hightower stephanie link with us as well. we have to kick it off with the broader market and the big selloff. we're off the worst levels of the session. but we're still on track for the worst day since june 11th. the dow down more than 1,000 points a few minutes ago it's now down about 900, 879 points the selloff is triggered by technology and, mike, the nasdaq is now looking at its worst day since march. >> it could develop into something healthy and it's also a measure of how persistent and steep the angle of the asent was. the nasdaq 10

for now and whatever's next northern trust wealth management.the phone, online,ing. or face to face, we're here to help- utilizing our resources as one of the nation's largest banks and a local approach with a focus on customized insights. so you're ready for today. >>> welcome back now the answer for today's aflac trivia question. which band holds the record for the most number one hits ever? guys, this is not hard you know it's the beatles. they've got 20 you probably could have guessed this, but here is what's interesting. who has got the second most number one hits at 18? mariah carey not only that, she tops the beatles with the most weeks spent at number one. you've got me. feeling emotions over that trivia quiz. >> thanks, brian by the way, i believe that all i want for christmas returned to the charts 20 years, 15 years after it was originally released she has the record along those lines. >>> still to come on "squawk box", the clock is ticking for tiktok then "the wall street journal" reporting robinhood under investigation by the sec we

that's why northern trust is here. with specialized expertise...te... and proven strategies rooted in data and analytics. giving you more control. clarity. and confidence. for now and whatever's next northern trust wealth management. >>> now the answer to today's aflac trivia question. what was the last 12 cylinder car produced in the united states the answer, the lincoln continental in 1948. >>> breaking news on the mortgage bailout program diana olick joins us she has details of a new report. interested to see this, diana. good morning >> reporter: good morning, joe yeah, after dropping by nearly 150,000 last week, the total number of mortgages inin active forbearance plans make it 3.7 million or 7% of all active mortgages. these plans allow borrowers to delay monthly payments for at least up to three months or up to a year. there is a wave of 2 million plans expiring this month. 350,000 did not renew, but overall 3/4 of those in forbearance are in renewals still unable to get back to making their monthly payments. about 48,000 borrowers started

and northern trust delivers more. with specialized expertise. proven strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. >>> we have tech stocks under significant pressure this morning. joining us now, reggie brown, principal and global market strategist reggie, just looking through some of your thoughts and comments on the current state of things, in summarizing, i guess you'd say these bull market corrections can be sharp you think eventually, even in tech, you get a resumption of upward trend >> good morning. it feels that way. september, october, it is always a little rocky for investors, particulary going into an election cycle i think any temporary move to the down side will be met by that action going into the year. >> what do you attribute september and october on any year is problematic. what do you attribute what you sought, is it technical

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