Restart the economy. Some of the money being earmarked for 5g and broadband. And new developments in the house investigation into big tex. Bloomberg has learned that the facebook ceo and alphabet ceo will testify if called along with amazon ceo jeff bezos. Lets talk about the markets. Abigail doolittle joining us. Another wild day. Talk to us about the main drivers. Abigail a roller coaster day. During the day out with that alleged tone. Some positivity around a possible cure for the virus. Plus, retail sales, the best on record. Then, virus news coming out to beijing closing schools, plus texas hospitalizations at a record high, florida at a record high. Netnet, we had stocks close slightly higher. Apple of for a third day, big driver, getting a boost from price target standpoint from citigroup to a street high of 400. Bank getting an upgrade at of america. Indication down very slightly. , stock on thee move to the downside. That is oracle. They reported their fiscal fourthquarter, di
Major breakthrough in treating the coronavirus, a steroid that could cut deaths significantly among the sickest patients jay powell assuring the market is willing and able to backstop the economy. And finally, fiscal stimulus reports the white house is preparing a trillion dollar infrastructure package for everything from roads and bridges to 5g network. So, were these the three things the market needed to hit it big today . The three horsemen. Hi, mel. Hi, guy how are you well, i mean, they definitely helped, and im looking forward to Jerome Powells testimony tomorrow when somebody asks him what his favorite hardhitting question, what his favorite color is thats always riveting to me its all about the fed i think we all agree with that their commentary has been nothing short of astonishing the infrastructure supposed infrastructure bill, obviously, caught everybodys attention im hard pressed to believe that will get through this year given the divide we have, politically. The covid ne
Domestic and geopolitical tensions, everything from what is going on in minneapolis to the president versus twitter. We will obviously be taking you through those stories and a lot more throughout the day. The s p 500 is down 0. 25 . Dollar general is once again the best performer today, but retailers lower in the s p, from gap to nordstrom. Harley davidson down 7 , matt. I know you take a special interest in harley. Yuan something we are at. Ng a close look some pretty broad we getting this last week. Right now offshore, the yuan is 7. 1666. At the dollar has been weaker, but it has also been above 99 this week as well, so plenty of whippy action for the dollar index. Gold futures up 0. 8 . A lot of fed speak as well. We will be discussing what Loretta Mester said to bloomberg a little earlier on in a few moments, and we have Jerome Powell coming up in the next hour. 6 t Harley Davidson down yesterday, so it has lost basically 1 10 of its value over the last couple of trading sessions
There has to be a reason for stocks to keep going up, because there are no tail winds. Sure the economy is reopening all over the country we had great jobs report last friday but we still have 13 unemployment in this country as much as we want to reopen, the sectors that have turned redhot, thats why the dow dipped 300 today the tech heavy nasdaq advanced stocks can only go up so much based on the fact the world isnt ending lets take the two most exciting areas in this Market Airlines and cruise lines. Those juggernauts were marching towards their precovid highs neophyte internet goaded wagerers, betting that someone would come in and buy higher that worked for a while, but today it stopped when you invest on the greater pool theory, sooner or later you are out of fools there are times that the greater fool theory does indeed work i am not someone who will give you a hard time for making money the wrong way. The games in these groups are still very real. But if you are going to play th
New england, flooding streets and forcing some people from their homes. And a new system pushing toward the u. S. Could soon become the first named storm of this hurricane season. Well have the forecast. And prepared for the worst. From underground bunkers to full private communities with extraordinary security. Well go inside the world of preppers, people who anticipate the next global threat. Well find out just who they are and hear their plan to protect themselves. First, we begin this morning with a look at todays eye opener, your world in 90 seconds. I just want to make something clear its very important trumpays he wantsine, were. To see a Coronavirus Vaccine by the end of the year. Another grandiose announcement. I hope they succeed. We need vaccinations. Donald trump always has grand announcements, and then there is no followthrough whatsoever. Nancy pelosi wrote most of this bill in her kitchen in san francisco. Reporter the house passed the biggest stimulus bill in history. R