This is nightly Business Report with Tyler Mathisen and sue herera. Surprise rise. Stocks took off despite rising tensions overseas. But how long will the buying mood last . Unexpected rejection. Eli lillys arthritis medicine was supposed to be a blockbuster, but the fda said not so fast. Mountain of debt. Americans owe a lot of money. 1 trillion on their credit cards to be exact. And that is raising some concern. Those stories, and tomorrow, tonight on nightly Business Report for monday, april 17th. Welcome. Im sue herera. Tyler mathisen is off tonight. Given the increase in geopolitical tensions and soft Economic Data, not many thoughts the dow would rise by triple digits, but it did, and the bulls remained in control until the closing bell. The Dow Jones Industrial average gained 183 points to 20,636, snapping a threeday losing streak. The nasdaq added 51, and the s p 500 was up 20. Given all the negative factors swirling around, why were investors in a buying mood. Bob pisani expla
Power lunch starts right now. All right, welcome, everybody. A big show as you can see. The dow, the nasdaq and the s p 500 are all higher. But is the stock market getting a little too cozy with one likely election outcome . Well tell you why the races you arent watching may be the most important of all. Meantime, the big sectors also higher across the board, health care really the standout, shares of United Health are soaring. Also, look at the semiconductor space. Chip stocks on pace for the best day of the month. Intel, big upgrade. Well tell you about that. Brian, thank you very much. Welcome, everybody. Im tyler mathisen. Here is what else is happening at this hour. Millions of Social Security recipients will get a monthly increase in benefits next year. How big . 3 . That is the fifth year in a row that Older Americans will have to settle for those historically low raises. Starting today, at t customers can talk, text and use data while they are in cuba. And samsung reportedly no
And germany markets there closed for a public holiday. Oil prices are rising this morning. A longterm bear at Goldman Sachs now says the market has ended two years of oversupply and flipped into a deficit. The firm says this allows or follows disruption supplies from nigeria, venezuela, the United States and you can see wti is up by about 2 points. We were at 30 now its back to 50 and youre doing the super spike. The super spike came out a while ago. Remember the London Office . The supply has been shrinking. Is it ready to go up to 60 or 70 . Because they already missed the move from 27 back to 50. Yeah. But remember the super spike, that came out of gold mans London Office at the time. Yeah, i guess. But goldman they have many analysts. Other analysts will say its going down and some say up. Just another brand. Have you noticed three straight weeks since that person was here to say we are at an important level. What happens in the next weeks decides. Right. We are at factory data in
Moving the markets. Record low bond yields, new attacks on viacom, and at merck shares are rising in the premarket. But obviously a lot of review to go over on what the fed said yesterday, jim. Yesterday was a kind of admission, it wasnt even tacit, that maybe were in a kind of different era, which is so interesting because a couple months ago they certainly didnt think we were. And thats going to cause the id say kind of a grumpy attitude toward the fed, people who say theyve lost it because they now feel look theyre swinging in the breeze, the pundits. Wow. All of a sudden were much weaker than we thought, previously much stronger than we thought and were data dependent. It does add up to something that i want to step away from and say its good for stocks. So we can talk fed policy, as if we are indeed fed members. Ill let you be from i dont know, some west coast man and ill be a philly thing. When it clears, we can go back to clorox and back to look at Procter Gamble after these pro
Radar headwind weighing on the banks. Were going to talk about that. Both sides of that issue coming up. Plus, unfortunately in venezuela latting continues as they grapple with Food Shortages and an economy that is definitely in crisis and the president is in exile here in the u. S. The director taking a direct swipe at jack dorsey. Well tell you exactly what he said. Lets start with the comeback in stocks today. Bob pisani with the latest. Bob . Its been an interesting day. To a certain extent were become smacked around by brexit concerns and particularly on the currency markets. Take a look at what happened just about the time of the european close at 11 30. The dollar weakened. The euro strengthened as well. It happened when we heard about the tragic death of the mp over there, joe cox. We saw knockons as a result of that. We saw a modest lift during that time and weve just turned positive for the day. The dollar weakness had a very important effect. It stabilized oil. Oil had an ug