The market while classic reopening plays like cruise lines, airlines, they are moving low. Net net we are flat as we stand on the s p 500 sara. Ahead on todays show, investing legend Jeremy Grantham, stunning rally we might be realizing emergence of a bubble. Plus well speak exclusively with Marilyn Booker, former head of Morgan Stanley suing the firm for race and gender discrimination lets focus on the stories were watching mike santoli with a look at broad market action. Steve liesman highlights from fed chair jay powell and covering coronavirus resurgence in beijing mike,ic can us off with a look at the session flat on the average butthat doesnt tell the story. The average holding the gains in the last three days, wavering around the flat line a lot but mostly due to the trillion dollar trio, amazon, apple, microsoft all outperforming. This is an oldfashioned early february day where the big megacap Growth Stocks holding index together as average stock slips a little bit this is the
Left in the session. Yeah. And, of course, it is that holiday shortened trading week so were watching this closely coming up on the show tesla shares surging up another 8 on the day. Tripled in the last six months were going to break down that move with former ford ceo mark fields and the Treasury Department says it has finalized terms of new loans to major American Airlines well speak with the ceo of Hawaiian Airlines in few minutes as well. Lets focus in on the big stories were watching in general today. Mike santoli is looking at market valuations with the dow above 26,000 Steve Liesman is breaking down todays better than expected jobs numbers and how to square the conflicting messages were getting about the economy. Meg tirrell monitoring cases weve seen in some states which dampened Market Sentiment when reported and Kayla Tausche is standing by for disclosures about who received billions in emergency aid from the government, but mike, first lets go to you. We have a tidy little r
Local economies continue to reopen across the nation and the Consumer Staples etf has risen more than 10 off march lows, but there might be only a handful of names within it that have all the ingredients for a continued run higher the chart master, carter worth, has been in the kitchen, tinkering with the secret sauce based on the one stock, carter, have you been crafting something for us exactly, how clever crafty and clever. Before we look at a couple charts, this has been a disaster of a stock what we know is it peaked almost four years ago at basically 98, and bottomed this year at 20. Youre talking about a 79 decline. Its not loved only two analysts consider it a buy, yet two people hold almost 50 of the stock, warren buffett, of course, and 3g global but anyway, a few charts so here is the first chart and what we see is that it has all the characteristics of a bottoming out formation. A bearish to bullish reversal. You can see the 150day moving average starting to flatten and ris
Handle on the vix. Towas really extraordinary just sit there and observe the turn in the markets yesterday. It continues this morning. Surprise, in an election year, we are thinking about infrastructure. A 1 trillion infrastructure on deck, according to reporting in washington, d. C. This shouldnt shock anyone. Tom not at all. As i said earlier, everybody tunes into you. They dont tune into me earlier. I get that. But to the people out there, it is a bridge to nowhere in kentucky, a bridge to nowhere in San Francisco for speaker pelosi. I guess the president can put a bridge to nowhere in florida. It is all about politics. You just say to yourself, why cant this happen . Why cant this get done . I dont have a straight answer. Jonathan i dont have a straight answer either. They are not here for me, tom. They are here for lisa. Lets talk about the data. Retail sales on deck. A series of upside surprises in the United States weve had in the Economic Data for much of the last month. Lisa y
Without question, the data, another remarkable day after the remark about turnaround we saw yesterday. Jonathan ferro will give you that data in a moment. Coming up, terrific sets of conversation on economics. Youve got the retail sales data coming out that will be most interesting and important as a sign of the american economy. Jay powell at 10 00. In moments, we are honored to bring you the secretary of labor of the United States after the history made yesterday at the Supreme Court. Jonathan, that was remarkable to see what the Supreme Court announced yesterday, the Immediate Impact of those for and those against. Jonathan making some serious progress on a whole range of issues in this labor market, particularly on discrimination. Weve heard about the social injustice of the last couple of weeks. But we are making progress, and i think that is key. Equity futures are positive 43 points on the s p 500. Treasury yields, the curve is steeper. ChairFederal Reserve navigates that with t