Elon musk said all the right things on the call yesterday. More unless expensive models. Lisa we heard we will not get any details about if he can produce 25,000 teslas on their current infrastructure, wait until august. What about robotaxis . Wait for august. Jonathan i dont think you can look at this move without looking at it relative to the year to date loss. We were down by 4 and that we are up by 10. Listen to this, 2. 5 years ago, tesla was worth the same as the next 12 Largest Companies and thats how things have gone wrong in the last couple of years. Annmarie and the big issue is demand. They have very to different firstquarter results announcements. The numbers were bad and if you look at some of the rate at which new cars are leaving deliveries, that is not promising for elon musk down the road but the words are dreamy and its this idea of august we will get may be cheaper cars and a people model s and potentially a robotaxi. Jonathan jefferies says appeasing the market. How
Good afternoon, glad you could be with us on hour one of power lunch. Im Tyler Mathisen the dow on track for its first fiveday winning streak of 2018 after that historic january. The dow, that index along with the s p on pace for the best weekly gains now best weekly gains since november of 2016. The nasdaq on track for its best weekly gain in nearly three and a half years now Cisco Systems rallying on its earnings beat, teva pharma soaring on news Warren Buffetts Berkshire Hathaway is going to take a stake there and trip advisor is higher. The company be buy back stock and gave an upbeat forecast. And for more on these markets, lets go down to the New York Stock Exchange Bertha Coombs is here today standing by. The dow trading above 25,000, the s p above 2700 the nasdaq recovered three quarters of the losses trading above 7200 the fiveday winning streak is putting these indices on pace for their best weekly gains in forever. Take a look at the mass in dnasq its up over 4. 5 , thats th
History. Stocks posted their fifth day of gains despite points toward a pick up of inflation. Stocks soarth. Dow jones industrial average advanced 306se points to c back above 25,000. Theasdaq added 112. And s p 500 was up 32. Just as theselloff happen at break neck speed so did theco ry. Mike santelli has a look at whether the bulls are back to stay. Is a five day rally in stocks moving a bit too fast or is this a recovery from t Market Correction . Conventional wall street holds that steep pullbacks usually take weeks or more to recover after an initial bounce. Thendex is slipping back to recent lows after a retest or a base building process. The pattern could unfold in coming weeks but the chance for a quicker rebound toward the late january highs cant be miss dismissed right now. The history says the fasr the drop the quicker it can be recouped. The recent tumble was the fastest from an alltime high in 80 years. There was also theeverse selling of funds on volatility being low. The
The opening 20 minutes or so from now we are positioned for a higher stock market at that 9 30 mark europe has been open for some time and over there it is also been largely a positive day so far. You can see germanys dax of course and france the best performer. The 10year note yield so much of a focus yesterday as it same close to the 2. 9 not sure we ever got there were above it now thousand. Yesterday we flowed 2. 89, 2. 915 and stocks dont see particularly concerned wti is down though, higher than it was this time yesterday this morning stocks are looking to extend their daily winning streak, five all three indexes gained more than 1 yesterday shrugging off the stronger than expected cpi after what was a sharp decline early in the session and inflation data out this morning shows Producer Prices rose. 4 in january. That was matching forecast now the core rate minus food and understand also up 4 . That was twice what many economists had been expecting. What a difference a day makes.
Buying a ticket on american and hopping on united. The dow has come a little bit off the lows. Down 239 points right now, the nasdaq is down 1. 7 . So no problems at the nasdaq. And yet, the nasdaq is actually down about. 4 more than the dow. Now, of course the dow does trade nasdaq stocks as well. But the point is, it would seem that the data were seeing that the declines are not based on this trading issue, outage, whatever you want to call it, right . May be more global macro. The benchmark tenyear treasury note yielding 2. 2 . And thats actually a 2. 5 move, guys which is not quite double that of the dow. So bonds are moving more obviously overnight in china. This is turning out to be a seminal day for the stock market. We had 1,400 Major Chinese companies suspended in trading. Not for these reasons. Many of them suspending their own shares because the decline. And something i pointed out early this morning, guys, which is this chinas stock market value declined in 30 days has been