Recordbreaking rally after we head into a long weekend while it has been a number to remember, the best month in 33 years, the recent leaders and laggards have been turned upside down chevron leading the way and apple up only 7 power lunch starts right now hi, everybody, im kelly evans. Stocks are pulling back after this huge november rally lets go to dominic chu. A huge november rally thats put the dow at least in some catchup territory as you can see in the 2020 over the last year plus, weve seen the dow industrials just up 6. 5 in that span the s p, meanwhile, is up 16 , nasdaq up 40 . That catchup play in play right now. Watching whats happening with the rotation element weve been talking so much about, as tyler mentioned, look at the way energy has played out just over the course of the last month 38 monthtodate gains for the energy etf financials up 19 . Industrials up 17 the value and economically sensitive sectors are the ones leading the way higher in the month of november. As
With a new show on cnbc, highlighting Small Businesses and the people behind them across the country power lunch starts right now welcome to power lunch. Im john fortt take a look at whats driving the Market Health care stocks the biggest laggards while industrials and financials lead the way. Check out the bank names all higher tesla, the big winner. At the highs of the session, helping to turn the nasdaq almost positive, close to break even midday. Morgan stanley final upgrading the stock to a buy after a 500 gain this year lets get to bob pisani for more on these markets bob, you got me . Maybe not. Kelly, do you see what is happening with these markets i mean, were showing the sector snapshot here. Weve got s p retail is higher ahead of a Holiday Season we expect to be really strong for ecommerce and weve seen strong results this week from walmart and target yes, we do. By the way, i want to point out well, i want to point out that the dow turned negative only in the past hour or s
Opened. It looked like we were headed for 1 plus drop. Lets get the details on what happened overnight. Time now for Global Exchange to bring you todays market moving news from around the world. Joining us on the phone from france is bloombergs maria tadeo. From hong kong, we have enda curran. Here in new york, bloombergs michael mckee. We start in france with the g7 summit wrapping up. We just heard from President Trump and indian Prime Minister narendra modi. The highlights from this morning, and what happened over the last 72 hours . Maria the conversation here was mostly about trade. European officials were concerned that perhaps donald trump would go off stripped would go off script and could signal a recession in the trade war. Goodid he had a very meeting with angela merkel. Remember, the relationship between the two of them has been rocky at times. He also said hes looking forward to working with the european union. The other big surprise was that very short trip from irans for
Its the last attempt to get a lifeline and keep greece in the euro. German chancellor Angela Merkel says time is running out. Angela weve shown much solidarity with greece. Our last offer was very generous. In these time of challenges be it refugees or terrorism, europe can only keep strong and stand together if every country asumets responsibilities. Vonny they have to decide whether they can cooperate with cyprus and walked out of talks and called the referendum. Theyre trying to prop up the falling stock markets. Foreign investors are selling shares at shanghai listed stocks at a record pace. Vonnie obama warns it will take time and went for a briefing with the top military commander and called the fight against the Islamic State a generational struggle. President obama this will not be quick as a longterm campaign. Isil is opportunistic and it is nimble and many places in syria and iraq including urban areas, its dug in among innocent civilian populations. It will take time to root
Then replace at a later date. Lawmakers will return to washington july 10 and they will have three weeks before their august recess to work on an agenda that includes tax reform and more. Some are on the biggest stories this week, and there have been plenty of them. From a g20 some of the kicks off next week, lets welcome reporters. To lets come to you first on the health story. This is where we have spent a lot of our week, talking about this subject. President trump with this repealed and replace at a later date tweet, how is that gone on the hill . Its been a chaotic week on health care, major setbacks for senator mcconnell and Republican Leaders who hoped to get this done before the july 4 recess. They learned by tuesday they didnt have the vote. From theack members were unhappy with the process, the secrecy, and the speed of this, and more importantly, substance of disputes. The president s tweets this morning is not going down well because this was initially the strategy that Rep