59 minutes left to trade, kayla. And that green screen is not something we have seen in a while. We have a big show ahead today on closing bell. A big deal for big steel well talk to the ceo from Cleveland Cliffs and his outlook on the economy later, sneaker startup all birds scoring 100 million in fresh funding. Valuing the company at 1. 7 billion the coceo will join us to tell us how his Company Plans to spend that cash and well have that later on in the show. Lets focus in on the big show were tracking to days rally. Theyre covering the latest tensions in the tech cold war with china start us off on the Broader Market and what youre seeing behind the scenes today. Yeah. Market making the case that last weeks lows and got some traction near the levels its not Something Else tachlt a look at the s p 500 year to date all the indices have a similar look with different mag any tudz we were talking about this level for a long time. This is where we hit the lows a few times last week aroun
Look at the s p 500 at 2978, a 55point gain and there is the nasdaq the outperformer yet again, almost 2. 25 , 200 points, 9387 the nasdaq, not all that far away from last februarys highs, which our headliner says this hour is going to happen this year and not just the nasdaq so lets welcome in fund strats tom lee. He is joining us via skype tom, welcome back. Nice to see you again. Thanks for having me. Big call. How are we going to get there this year, tom you say 3450 is happening . Yes, and i think what really drives our view is that companies in the midst of the shutdown arent standing still you know, theyre reengineering their operations, learning how to be digital, run with fewer employees and less real estate so in 2021, as we exit this pandemic, theyre going to generate higher earnings on a lower level of sales and that means implied better pes. And thats why we get into july, stocks will start discounting that and were looking for new high hi highs. Youre looking for a vshape
This is not a drill. Gwyneth paltrow will join us after announcing her new show with netflix power lunch starts right now and welcome to power lunch. Lets take a look at the markets now. The dow well off the lows of the day. Still just barely in negative territory but earlier, down more than 200 points. The s p and nasdaq have now turned positive and check out shares of alphabet up 2 jumping to a high after Pivotal Research calls the tech giant a buy. Lets get started with bob pisani at the New York Stock Exchange for more on whats moving those markets e today this is different than friday, contessa again supporting the idea of these kind of events while emotionally disruptive have limited economic impact. Thats what the market is saying so like friday, the low is at the open heres friday and heres today theres the lows friday though, we saw a move to the upside in the middle of the day now, we have been slipping already. We are not slipping. We are holding up here late in the afternoo
Ceo Dennis Muilenburg is out effectively immediately as they struggle to get the 737 back in the air. Halftime report starts right now. Welcome, good to have you with us on this monday, our Investment Committee today, joe ter nova, brenda is back, the cio of sand hill Global Advisers the end of year rally continuing boy, what a difference a year makes, joe, right . Certainly does. Remember last december . I certainly do. That stunk. It did. Not this time around. Not this time around. 30second record close of 2019 on friday, up 28. 5 yeartodate could have the best yearly performance since 2013 remarkable. We had a liquidity correction this time last year. We had a Federal Reserve that was clearly hostile. Weve seen significant pivots in that record. The earnings picture really hasnt changed in 2019 we know earnings have basically been flat. Where we sit right now looks as though the runway is pretty clear for further price appreciation were now getting participation not just from techno
We create second down d 260,000 month. And there is the idea of a recession looming around the corner most of the big picture data points tend to be small. The Labor Department and payroll report this one tends to linger, painting the whole market in whatever light that report is and in this case, of course, its a positive light. These matter why . Because we head into next week its going to affect all of our game plan. On wednesday the Federal Reserve will reveal the next move when chairman Jerome Powell holds his press conference and after the fabulous numbers we got today, i dont know im worried. Im worried he can turn hawkish like did he late last year he took a wrecking ball to the economy. Colin powell, a wild card. Even though we have great job growth, there is not much inflation. That will be a Huge Positive if you take more hawkish tone, well, you no he what look out below and hes capable of that sometimes i think he just cant lose the old model the other big nine earnings eve