59 minutes left of trade nasdaq 100,. 2 from a record closing high set in february hard to believe. Seriously is hard to believe. Were up 0. 4 . Coming up on todays show, despite growing dissent, tech stocks once again nearing all time highs well discuss the outlook for the sector amid new challenges with investor dan niles. Plus, powerful words from one of the biggest icons in sports, nba lenld, Kareem Abduljabbar will join us with his compelling message for all americans about the need for what he calls a rush to justice. Lets focus in on the big stories we are watching in this final hour of trade. Mike tracking the Market Action as always. Julia boorstin following the cory russ of dissent inside facebook and courtney covering the civil unrest mike, start us off with the Broader Market and this continued strength we are seeing yes, continued, persistent strength its a day when its gone a little bit away from the nasdaq leaders that were were so familiar with. That trend has remained
Hour the u. S. Passing a tragic milestone now. 50,000 deaths related to the coronavirus. Meanwhile, all eye ons ts on the of georgia as it tries to reopen well get a live report. Over to you, kelly thanks. First, lets get to bob to wrap up the volatile week we had for stocks and whether it still has legs. It might. The good news is we got the Coronavirus Relief package passed we got a lousy durable goods number just look at what a mix day we got here boeing has been around the dow all day. Its down 15 on the week. That durable goods number was a lot about boeing h home depot, apple, this is all over the place its not a clear direction i think the problemis the rall has stalled out a bit. Have you noticed that . Were down 2 . We have gone nowhere since april 9th. The bears are saying the economy doesnt justify 2800 in the s p 500. Its signaling a bigger slowdown the bulls are insisting the big Balance Sheet companies are doing fine feds on their side theres arguments on both sides. One
Orders thats weighing on the dow nasdaq about 4 itself today s p up about 3 , sara. Weve got big news coming up on todays show. Wells fargo ceo joins us to break down the Small Business loans and impact of pandemic on the bank then later, well speak exclusively with the ceo of Carnival Cruise lines as a they take a huge hit. Carnival shares down about 75 this year. Well have the ceo if and when the industry can get back on its feet with 59 minutes left of trading, lets focus in on the big stories. Wilfred has the news on the Bank Earnings meg with the treatments and vaccines and Steve Liesman wi k34e7b9s from two fed officials. Gl they had opened hirer this morning, jpmorgan and wells fargo. Provisions for potentially bad loans spiked 8. 3 billion for jpmorgan, 3. 8 billion for wells fargo. Even that was not the worst case the ceo said could be higher over the next several quarters relative to what we took in the First Quarter while Charlie Schaffer said it wouldnt surprise me to conti
Yields down by about eight basis points, once again under 1 for the 10 year. Time now for global exchange. From hong kong to washington to new york, our bloomberg voices are on the ground with this mornings top stories. Want to beginning asia. Total coronavirus cases around the world is now above 95,000. Cases seem to slow in south korea, while switzerland reported its first death. With us now is sophie kamaruddin. Is reporting an increasing number of recovery patients, roughly 62 of those who have been diagnosed who have been discharged from hospitals. The number of fatalities reported wednesday totaling 31, all of which were in hubei province. Jinpings scheduled visit to tokyo has been delayed, and Prime Minister shinzo abe did reveal tighter border controls and japan, including two weeks of quarantine from visitors arriving from china and iran, as well as south korea, where cases have topped 6000, but the daily count has slowed has monday at the country been testing hundreds of thou
Deep in the read as a key read on the health of the economy slips to the lowest level since the great recession. That got us thinking, is history about to repeat in firing up the time machine for back to a year when this played out on air you hear the musicon see the raging bull. You know what that means the dwou hitting a record high for the First Time Since january 26th joining the s p 500 and nasdaq both at alltime highs as well. So that was the setup heading into q 4 of last year. Fast forward a few days and this happened fast money starts right now we breaking news stocks getting shattered today. The dow having the worst day since february tanking more than 800 points, the selling accelerates into the close. And we close the dead lows of the day. Snpd fiefd now the lose worst losing strategic in two years. The question i pose to you all tonight. Dramatic. Are we setting up for repeat of last year tim well, think about year over year where we are in terms of expectations on we ratc