An epic run up 400 this year. We will explain how the retail trader is driving the stock. Plus, big tech, big deals, toppagist tells us that companies amazon, facebook and alphabet should be buying up right now. Consolidation. Power lunch starts right now welcome to jim maybe well get to say hi later on its a record week on wall street which marks the end of the coronavirus bear market. Its coming to a close here. Bob is watching some key numbers for us bob. Its been a record week we had good numbers today. Our manufacturing and services is keeping us positive just want to show you some new highs. A lot of stuff involved in tech. Internet, anything having to do with the internet. Fdn is the new one the hold building, that itb had been on fire eight straight weeks of gains. U. S. Home sales hit a record pace today we saw home prices also move up as well. Look at some of these new high list is fairly thin but a lot is building related horton, pulte, lumber liquid daters these are all at
Can you see. T the Housing Market continues to thrive in the u. S. , Manufacturing Activity is recovering it jumped to a 19month high comparable data out of the eurozone and japan. Familiar names leading us up apple is up 5 market cap just hit 2 trillion earlier in the week. Its more than onetenth of the way to three trillion already. Incredible move for that stock with 59 minutes left in the trading day. S p 500 as we just showed you, up 0. 4 on pace for a record closing high speaking of apple, by the way, we have breaking news this hour on the companys fight with epic games. Josh so apple just responding with a legal filing the two epics charges. They alleged exactly the same things will all of the legal theories apple is saying here will fail as a matter of competition the motion will fail because they need to show the balance of equities and Public Interest are in its favor in fact, the factors favor apple. Apple goes on to say that epic knew full well that in circumventing the pro
Weekend. Our roadmap begins with the record setting week. What are the risks to the rally . Plus tesla on a tear, set to open at record high after topping 2,000 for the first time. And democrats demanding answers, the embattled postmaster general testifying this hour amid a political furor surrounding policy changes ahead of the november election guys, its going to be an interesting morning to sort of take stock of where weve been over the past couple of days the s p all time high, apple 2 trillion, scott, tesla 2 k even though b of a this morning says that weekly outflows look like they may be the biggest in about 15 weeks despite some of these new highs. Maybe this is the week, carl, where technology said, do you know what, wait a minute, not to fast, growth, not to fast, value. Ever been has been coming out of the woodwork trying to make these calls that there is going to be this great rotation, carl, from growth into value stocks and these cyclical and epicenter names as tom lee ha
That seems to have worked because the dow which had been limit down has now bounced back and at the opening bell, we may be up 400 points. The dow will be up significantly at the opening bell. Same story with the s p and also with the nasdaq. Now, treasury secretary mnuchin, he says the Federal Reserve will have 4 trillion for loans to businesses. He says theres more where that came from and if congress doesnt get something going real fast, then they will go back to congress for more and he says the fed will provide any amount that is needed. Thats what the fed is doing right now. Thats the market. Thats the fed. Thats whats going on in congress. Now look at the price of oil. That has been a problem for American Energy producers and right now, weve got oil all the way down in the low 20s. Thats a continuing problem for texas, north dakota and for the Energy Producers and these energy stocks. How about the price of gas . That is absolutely tumbling. The National Average all the way down
The big market mover is gold, and this is a classic flight to safety. Its getting closer to 1600 an ounce. Thats a sevenyear high. 1577, up 25 bucks as of now. Price of oil, 63 a barrel. Can you imagine where the price would be if the general had been killed a few years ago, before america became Energy Independent . Got it. Here are the late news developments. The iranians threaten retaliation. Hundreds of thousands marched through tehran for the generals funeral. The iranians say they will no longer comply with Nuclear Enrichment limits contained in the nuke deal from which mr. Trump was already withdrawn. No backing down from President Trump. Oh, no. After the iraqis demanded the withdrawal of american troops, the president threatened to send them a bill for the bases we had built for them and he threatened to respond to any iranian attack by going after cultural sites. This has been hard line trump. In washington, Speaker Pelosi will organize a vote this week to restrict the presid