We often talk about volume as a validator. With that big rally were seeing back up. Yeah, volume has been much heavier on the down side, on thursday, friday and saturday excuse me thursday, friday and tuesday, we saw much heavier volume than on days when the market was going up in the prior days, like monday, tuesday, wednesday last week. This happens when you get the blow off the tops, and then the skeptics say im not buying more into this,le vote tends to get a lot lighter. Then with when you start seeing the momentum, you have heavy volume, they want to take profits really fast ahead of the next guy, so today the volume is a bit lighter than on the three days where the selloff was really intense all right bob, thank you very much bob pisani lets talk about big tech leading the market higher, can you trust this bounce . Mark lehman is the ceo of J P Securities mike at jones is chairman of caravelle concepts michael, i begin with you. What do you make of the warnings from druggkenmill
Airlines tiktok bids moving walmart is now in the mix. Yes, walmart and that stock is up 5 . Microsoft up 2 . A record close watch for the s p 500. At least 59 minutes left of trade. Anything positive, jon, for s p and nasdaq as we go into positive territory with the new records . Once again. And coming up on todays show. Two key reads on the state of the recovery in america. Well speak with the heads of Regal Cinemas parent cineworld and ihg group about safety and demand in light of the pandemic. And counting down to big earnings after the bell, including dell, gap, hp and more well bring you all of those numbers as soon as they hit. Now straight to the big stories we are watching today. Mike santoli is tracking todays volatile Market Action Steve Liesman and Morgan Stanleys chuten aya are here. And ylon mui has details on the new rapid covid test and bank of america is calling it a gamechanger. Start us off were extending up into record territory a little bit erratic fashion the mark
Kelly, so remember last week we were talking about how value was outperforming growth last week that lasted exactly one week today were back at the old pattern and its basically growth and technology virtually over Everything Else theres the dow flattish on the day, but s p 500 still trying to get over that 3032 hump not easy to do, but tech overplaying, the investments, the bank stocks all did very well last week theyre a little lower today amazon had an awful week, down 8 last week guess what, its regained a good part of that loss today. Alphabet, apple and facebook all on the up side the trend is were back where we were the work from home stuff tends to do very well. This happened since that june 8 high we hit, so the pelotons and zoom videos of the world doing very well. What we call the reopening stocks, the travel and leisure stocks, are not doing very well, and we saw this last week fairly consistently for a while earnings, were about 10 through earnings season. We have about 10
The print papers revenue. Mark thompson, one of nigh favorites will be here for an inclusive interview. Power lunch starts right now vaccine hopes and more stimulus on the way is helping Investor Sentiment loes that weve seen, the moves today, the s p 500 roughly there abouts is now, get this, roughly just 2 away so it may not be at records just yet one other place that was giving that stock a big boost off the session highs. And capri holding, the Company Formerly nose an michael kors are reporting sales that may be getting back to normal biff, both of those stocks well off the highs of the year. The gdx ticker there that tracks is up far more than prices, so, yes, gold continuing that run. Back over to you lets take a check of is the bond market. The cme, hi, rick. We had some powerful data and what did that do it gave us one of he rare bounces. But its all about Foreign Exchange asdom pointed out and they you aro seems to be king they seems to have gotten their issues in rough order
Facebook, netflix all turning positive we are up 3 4 sorry, 2 3 on s p. Another higher day, certainly off session highs. Coming up on todays show. Great lineup uper facing fresh lawsuit from massachusetts over how it which was its drivers. Early investor bradley tusk has an idea that can help them avoid headaches and take on rival lyft hes going to join us to explain. Speaking of the pandemic, new Jersey Governor Phil Murphy will join us to discuss his states path forward, whether hes prepared for what the fall will bring in the northeast. Lets focus on two key stories meg tirrell with modernas vaccine news and Big Bank Earnings certainly better with Goldman Sachs. Meg, start us off with moderna. Hey, sara the full phase one trial results from the Covid Vaccine published last night in the new england journal of medicine. This was 45 in the trial we got a glimpse of 8 out of 45 on important key data. These were healthy adults who received two vaccines a month apart. Everyone generated a